Better Credit Blog

SEPTEMBER 8, 2020

If you begin to hear from a debt collection agency called Pioneer Credit Recovery, it is likely because you have defaulted on a loan or forgotten to pay a bill. In addition to showing up on your call logs, they will also appear on your credit report as a collection agency. What Is Pioneer Credit Recovery?

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Better Credit Blog

AUGUST 22, 2020

CCS Offices is a company that collects debts on behalf of original creditor. They do this by either purchasing the debt or collecting the payments and taking a portion for themselves. To do this, they must first open an account on your credit report that shows that they are authorized to collect on the debt. What is CCS Offices?

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Better Credit Blog

AUGUST 31, 2020

ConServe is a debt collection agency that may contact you regarding unpaid debts. Collections accounts stay on your credit report for as long as seven years, which means that any lender or creditor can make decisions based on the fact that you have had debt in collections. What is ConServe? Negotiate a Settlement.

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Better Credit Blog

SEPTEMBER 14, 2020

It also means that they have opened a collections account on your credit report. Having collection accounts on your credit score is incredibly damaging to your credit health. Future lenders are able to see any collection accounts on your credit report and can deny you loans based on your history.

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Better Credit Blog

SEPTEMBER 29, 2020

Collection accounts can hurt your credit score for up to seven years even after you pay off the debt. They can also be viewed by lenders down the line, which means you could be denied loans or credit cards. 11 Charter Bright House is a debt collection agency that is headquartered in Stamford, Connecticut. Pay for Delete.

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Better Credit Blog

AUGUST 17, 2020

Collection accounts can hurt your credit score even after you pay off the debt. These entries remain on your credit report for up to seven years, which means that they can be viewed by creditors and lenders. Capio Partners is a medium-sized debt collection agency that is headquartered in Sherman, TX. Know Your Rights.

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Better Credit Blog

SEPTEMBER 18, 2020

Either way, CACH LLC will need to open a collections account on your credit report in order to legally pursue payment. Collection accounts are a black mark on your credit report. Future lenders can see them and make loan decisions based on the fact that you failed to pay a debt. This can mean trouble for your credit score.

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Troutman Sanders

MAY 5, 2022

Summarized below are those issues identified in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. Debt Collection. Auto Servicing. The CFPB sees wrongful repossessions everywhere.

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Better Credit Blog

AUGUST 31, 2020

Covington Credit is a third-party collector that collects payments from you on behalf of the original creditor or as the now-owner of the debt. In order to collect payments on your debt, Covington Credit must first open up a collections account on your credit report. What is Covington Credit? This is not the case at all.

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Troutman Sanders

SEPTEMBER 21, 2020

Federal Activities: On September 18, 2020, the Federal Reserve Board updated its frequently asked questions (FAQs) to clarify the Board’s and Department of Treasury’s expectations for lenders underwriting the Main Street Lending Program. Data collected shows that U.S. For more information, click here. For more information, click here.

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Fico Collections

FEBRUARY 16, 2021

It marks the highest fine ever issued to a lender for what it deemed a breach of consumer credit rules. As we pass the first anniversary of the pandemic’s outbreak, where does this leave lenders? The UK’s Financial Conduct Authority (FCA) has handed out a £26m fine following poor treatment of more than 1.5 million struggling borrowers.

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Collection Industry News

MAY 9, 2022

Summarized below are those issues identified in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. Debt Collection. Auto Servicing. The CFPB sees wrongful repossessions everywhere.

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Fico Collections

JANUARY 18, 2023

Top 5 Debt Collection Posts of 2022: Crisis and Opportunity. As more people enter the collections queue due to rising costs and economic wobbles, our collections experts share their tips for early collections, digital approaches and more. Here are the top five posts from 2022 on debt collection trends. FICO Admin.

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Better Credit Blog

AUGUST 17, 2020

The agency also uses aggressive tactics to collect on debts, which can add stress to an already nerve-wracking situation. That’s because Cavalry isn’t actually a lender or service provider. Instead, it’s an agency that purchases debts from companies, for pennies on the dollar, then collects payments from debtors.

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Troutman Sanders

JUNE 14, 2023

On June 8, the CFPB acted against a medical debt collector for numerous debt collection and credit reporting violations. In at least thousands of cases, the debt collector continued to attempt to collect on a debt that was not substantiated after a consumer disputed the validity of the debt. collectively, “Coinbase”).

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Troutman Sanders

FEBRUARY 22, 2021

On February 18, the Department of Veterans Affairs announced that it will extend its moratorium on all benefit and medical copay debt collections through at least September 30, 2021. The sum total in December of all net foreign acquisitions of long-term securities, short-term U.S. For more information, click here.

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Troutman Sanders

JUNE 1, 2021

Department of Education, announced that the department will reverse a policy put in place during the Trump administration that blocked state and federal regulators from accessing records needed to investigate student loan lenders, servicers, and private collection agencies. For more information, click here. On May 27, U.S.

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