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DEBT COLLECTION INDUSTRY DEEMS ITSELF ESSENTIAL TO “FINANCIAL HEALTH” OF CONSUMERS, FIGHTS COVID-19 SHUTDOWN

Collection Industry News

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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How to Remove TransWorld Systems From Your Credit Report

Better Credit Blog

In fact, they are a multifaceted company that can be a part of the debt collection process in the early stages (pre-charge of recovery) or the post-collection stage. Numerous complaints state the company left over 25 voicemails on one customer’s phone alone in an attempt to collect a debt. Debt Validation.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Senator Ted Cruz introduced the Financial Institution Customer Protection Act of 2021, which seeks to prohibit financial institutions from denying services to law-abiding businesses, such as companies in the accounts receivable management industry. For more information, click here. For more information, click here.