Collection Industry News

SEPTEMBER 29, 2020

30 deadline, approved the Debt Collection Licensing Act and legislation to create the Department of Financial Protection and Innovation (DFPI)—essentially a state version of the Consumer Financial Protection Bureau—Friday. The DFPI will include oversight of debt collectors and emerging financial technology products.

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Collection Industry News

JULY 20, 2020

DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.

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Better Credit Blog

AUGUST 31, 2020

Estimates suggest that close to one-third of Americans have debt in collections. Even a single entry from a collections agency can do damage to your credit score for several years. Read on for a quick guide to dealing with the collections agency and getting it deleted from your report. Dispute the Debt.

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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. Did you know that.

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National Service Bureau

AUGUST 19, 2015

Like any industry, the debt collection and accounts receivable management industries have some bad apples. The latter are obviously people and organizations that you would want to avoid should your business need assistance with collecting on delinquent accounts. Or no legitimate debt buyer?

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Credits Inc

OCTOBER 25, 2019

A study conducted in 2017 indicated 8,513 debt collection agencies were operating in the United States. The primary purpose of business debt collection services involves recovering delinquent amounts and past-due debts. business debt collection services. Client Tracking and Data Verification Services.

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Better Credit Blog

APRIL 1, 2022

If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. In other words, they are an aggressive company, and having them stalking you for a collection is never nice. Have a Professional Remove the Collection.

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Consumer Finance Watch

APRIL 29, 2021

Court of Appeals for the Eleventh Circuit has delivered a novel and highly consequential interpretation of the Fair Debt Collection Practices Act that is potentially transformative … Continue reading → Topper, Scott E. Wortman, and Anthony Richard Yanez The U.S.

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National Service Bureau

MAY 12, 2015

As it relates to collections and accounts receivable management , skip-tracing is the process of locating debtors whose contact information is no longer accurate. Often, companies have to purchase access to this information, or hire a collection agency that already has access as part of their services.

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National Service Bureau

MAY 18, 2015

But what does this actually mean for your business and debt collection? The flip side of that coin, however, is that adjustments might need to be made in how your business handles accounts receivable management. Nowadays, it’s an opportunity to reflect on those Americans 65 and older.

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True Accord

JULY 13, 2023

If you’re a creditor or collector working with financially distressed borrowers, considering consumer situations and preferences when attempting to collect and employing digital strategies to boost engagement are more important than ever. There were also a couple of notable court decisions impacting debt collectors last quarter.

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Credits Inc

JUNE 19, 2019

Current reports show that debt recovery agencies recovered more than $78 billion in 2016. The number is a clear indication that the services offered by debt collection service companies works and you should try if your debtors have exceeded the payment period that you had agreed upon. debt collection service.

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PDC Flow

JANUARY 12, 2021

2020 has been an unusual year for the accounts receivable management industry (to say the least). But the year also saw numerous pieces of legislation, (CFPB’s Regulation F to California debt collection licensing and more) that will impact how collections will operate going forward. Regulatory Changes.

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Troutman Sanders

APRIL 19, 2021

Federal Activities: On April 19, the Consumer Financial Protection Bureau (CFPB) announced that the 30-day comment period on the CFPB’s proposal to delay the effective date of Regulation F, its Debt Collection Rule, is open. For more information, click here.

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Troutman Sanders

JULY 7, 2021

Some consumers reported facing homelessness because of the negative impact of an eviction on their credit history reported by debt collectors. The law does not impact most third-party collection agencies, but it does impact some creditors and debt buyers. For more information, click here. For more information, click here.

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