Collection Industry News

JUNE 14, 2021

In 2018, Homeland Security Investigations agents got a search warrant and seized $242,088 from Nocera’s business and personal bank accounts, after convincing a judge there was probable cause to believe the funds were derived from unlawful debt collecting and wire fraud. Gregory MacKinnon, Angela Burdorf, Joseph Ciffa.

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National Service Bureau

APRIL 6, 2015

Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. Government. Did you know that.

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Collection Industry News

JULY 12, 2021

A recent decision in the 3rd Circuit should prompt debt collectors to review their inclusion of viewable bar codes, QR codes or other technologies when sending debt collection letters. Preferred Collections and Management Services, Inc. , In the wake of Hunstein v.

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Collection Industry News

JANUARY 19, 2021

Yet the federal government’s Paycheck Protection Program last year also gave the company a helping hand: It provided $2.4 Those were just two of more than 1,800 loans that went to debt collectors and high-interest lenders through the Paycheck Protection Program, according to an analysis by The Washington Post.

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UK debt collections

MARCH 27, 2023

Private Debt Collection firms being hired The HMRC is hiring private debt collection firms to recover owed monies from universal credit claimants. Debt Collectors are being hired to chase overpayments from universal credit claimants. Many claimants were not at fault or even aware of the overpayments.

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Sawin & Shea

FEBRUARY 16, 2021

Creditors are governed by the Fair Debt Collection Practices Act. As such, they’re required to only send collection letters that are truthful, correct, not misleading, and do not provide false information. Many collection companies, however, skirt these rules and do not comply.

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Collection Industry News

SEPTEMBER 8, 2020

Debt collection means requiring debtors to pay creditors outstanding due or overdue amount or property as obligated by a contract or by a decision of a competent State’s authority. In addition to debt collectors operating under Decree No.

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Credit Management Company

JULY 14, 2021

Preferred Collection and Management Services, Inc. and what it could mean for the debt collection industry. The debt collection company electronically sent the following information to its third-party vendor: The consumer’s name and address. The debt concerned his son’s medical treatment.

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Debt Collection Answers

MAY 18, 2023

The Fair Debt Collection Practices Act (FDCPA) and other laws provide you with rights and protections that you can use to fight back against such behavior. When dealing with a debt collector like ARS National Services, confirming that the debt is yours is important. What is Associated Recovery System Collection?

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FDCPA Defense

FEBRUARY 20, 2012

Does the Consumer Financial Protection Bureau (CFPB) have the power to tell debt collectors to turn over their attorney-client privileged communications? Thus, the Bureau effectively believes it can obtain the privileged documents of any debt collector in the country. The answer may depend on who you ask.

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Taurus Collect

JANUARY 10, 2024

Reasons Why Businesses May Hesitate To Hire a Debt Collection Agency Despite the clear benefits, some businesses might still hesitate to hire a debt collection agency due to several reasons: Fear of damaging customer relationships : Some businesses fear that involving a third-party debt collector might strain their relationship with their clients.

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Troutman Sanders

JANUARY 20, 2022

On January 13, the CFPB released a bulletin, reminding debt collectors and credit bureaus of their legal obligations in light of the No Surprises Act, which protects consumers from certain unexpected medical bills. The defendants knew, or should have known, the collection companies made false threats and false statements to consumers.

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Better Credit Blog

APRIL 1, 2022

Harassing calls from a debt collection company tends to trigger a range of unpleasant emotions, from anxiety, fear, anger, frustration, and beyond. The truth is, debt collectors actually have a set of rules they have to follow when attempting to collect on a debt. Knowing Your FDCPA Rights.

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Troutman Sanders

MAY 2, 2023

Khan appeared before the House Appropriations Subcommittee on Financial Services and General Government to discuss its FY 2024 budget request and the agency’s ongoing work. Government Money Market Fund.” government securities, cash, and repurchase agreements collateralized by U.S. For more information, click here.

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National Service Bureau

JUNE 10, 2015

Debt collectors sometimes have a bad rap, but the truth is that they provide an important service to society so long as their practices are ethical in nature (i.e. Choosing the right debt collection agency is an important decision that can have both positive and negative repercussions for your business. Compare Costs.

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Collection Industry News

DECEMBER 1, 2022

Select spoke with Shelly-Ann Eweka (CFP, ChFC), a wealth management director at TIAA , who shares everything you need to know about debt collections. What is a collections agency? “A However, a new report from Pew Charitable Trust found that increasingly, collections companies are taking debt settlements to civil court.

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National Service Bureau

MARCH 29, 2015

This is incredibly important, especially in fields like medicine (where there is a patient-provider relationship) and insurance (where companies are competing for consumers). A collections company that understands the importance of preserving your own business relationships is a good indicator that they’ll be great partners.

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