Account Recovery

MAY 24, 2024

The Connecticut Department of Banking has issued a temporary order to cease and desist against a Texas-based collection agency for operating in the state without the required license. Order and Penalties […]

Fair Debt Collection 130

Fair Debt Collection Collections Collection Agencies Collections Agency 130

Taurus Collect

JULY 14, 2022

Moreover, the older the obligations get, the harder it is to collect the payment. However, hiring a reputed debt collection agency will significantly help you as they will use multiple methods to locate your debtors and help you effectively gather your amounts. This helps them smoothly carry out their debt collection process.

Collection Agencies 52

Collection Agencies Collections Agency Debtor Collections 52

FFGN COLLECT NY

JUNE 14, 2023

When a debtor owes a creditor money and the creditor is seeking assistance collecting the amount owed, the creditor can either use a collection law firm or a collection agency. Law firms and collection agencies serve the same purpose initially.

Law Firms 52

Law Firms Collection Agencies Collections Agency Third-party Debt Collectors 52

UK debt collections

JUNE 11, 2021

The High Court has shut down a rogue Debt Collection Agency it has emerged. The Debt Collection Agency spuriously claimed to be able to collect debts from liquidated companies. They would offer to collect from liquidated company directors ‘personally’ which is contrary to UK insolvency law.

Collection Agencies 69

Collection Agencies Collections Agency Collections Creditors 69

Collection Industry News

APRIL 2, 2024

The claim: It is illegal for collection agencies to buy debt and ‘come after you’ if you send a cease-and-desist letter A March 27 Facebook post (direct link, archive link) offers advice for consumers facing debt collection. “It Chief among the inaccuracies is the claim that debts can’t be sold to third parties.

Collection Agencies 40

Collection Agencies Collections Agency Creditors Third-party Debt Collectors 40

Nexa Collect

SEPTEMBER 15, 2020

Need a Collection Agency – Serving Nationwide? Before the 2008 financial crisis, CRE’s made up nearly 50% of many smaller banks’ portfolios, and that number remains elevated above comfortable levels today. Other banks are following suit. It wasn’t until September of 2008 that the first bank failure occurred.

Collection Agencies 130

Collection Agencies Collections Agency Collections Lender 130

UK debt collections

MAY 4, 2021

The saying in the Debt Collection Industry is ‘the older, the colder’ which is layman’s terms means, the longer the invoice goes unpaid, the less likely it will be paid at all. In the past, Companies have often waited till they had large volumes of debts before recruiting a debt collection agency.

Collection Agencies 75

Collection Agencies Collections Agency Collections Debt Recovery 75

Debt Recoveries

MAY 29, 2020

One of the services businesses are able to use to help maintain or improve their cashflow is a debt collection agency. To assist in ensuring quality and integrity within the debt collection industry, the Institute of Mercantile Agents was formed. Partnering with the right collection agency can do wonders for your cash flow.

Collection Agencies 80

Collection Agencies Collections Agency Collections Debt Recovery 80

Taurus Collect

MAY 11, 2023

If you have a credit or debt-related problem, it’s likely that a debt collection agency could come into the picture. That’s why understanding the resources these agencies can access to find you is so important. They are hired to collect the outstanding debt on behalf of the creditor.

Collection Agencies 52

Collection Agencies Collections Agency Debt collector Collections 52

Account Recovery

MAY 13, 2022

A collection agency’s involvement in a federal pay-to-play scandal has cost it an additional $25,000 after entering into a consent order with the Massachusetts Division of Banks. Division of Banks Fines Collector $25k for Role in Pay-to-Play Scandal appeared first on AccountsRecovery.net.

Banks 246

Banks Collection Agencies Collections Agency Collections 246

Taurus Collect

MAY 2, 2022

However, hiring an external agency to assist your business with debt recovery services , receivables, and charged-off balances is an incredible way to overcome these obstacles while improving collection rates. On average, companies hold a 50% chance of successfully collecting the overdue bills before the standard 90 days duration.

Collection Agencies 52

Collection Agencies Collections Agency Collections Debt Recovery 52

Account Recovery

DECEMBER 7, 2023

A collection operation has agreed to pay a $10,000 fine to the Connecticut Department of Banking for operating in the state without the proper license to collect. The Background: The company operated in Connecticut as a licensed consumer collection agency from 2010 through 2018, when its license expired.

Collections 130

Collections Collection Agencies Collections Agency Consumer Collections 130

Account Recovery

DECEMBER 8, 2023

Owners of Allegedly Unlicensed Collection Operations Facing FDCPA Suit Judge Grants MTD in FDCPA Case Over Undated MVN Overdraft Fee Issues Cost Bank $6.2M in CFPB Enforcement Action January Raises $12M to Expand Collection Platform MCA Collection Agency Turns to Skit.ai

Collection Agencies 148

Collection Agencies Collections Agency Collections Banks 148

Account Recovery

AUGUST 31, 2023

The Connecticut Department of Banking has reduced the fine against a law firm that was operating in the state without a consumer collection agency license to $20,000 from $100,000, largely on the basis that the law firm is no longer in business. A copy of the order with the Law Offices of David M. Katz […]

Law Firms 130

Law Firms Collections Collection Agencies Collections Agency 130

Account Recovery

AUGUST 29, 2022

The Connecticut Department of Banking has revoked the consumer collection agency license and imposed a fine of $100,000 on a collection agency for failing to provide information requested during an examination, which rendered the state unable to determine the financial responsibility and general fitness of the operation that it could operate soundly (..)

Collection Agencies 244

Collection Agencies Collections Agency Consumer Collections Banks 244

Account Recovery

JULY 27, 2021

A collection agency has agreed to pay a $10,000 fine as well as nearly $3,000 in back licensing fees in a consent order entered into with the Connecticut Department of Banking after the agency was alleged to have operated in the state for seven years without the proper license.

Collections 246

Collections Collection Agencies Collections Agency Banks 246

Account Recovery

FEBRUARY 7, 2024

The number of accounts being placed with third-party collection agencies? That number is on the decline, according to data released yesterday by the Federal Reserve Bank of New York. Delinquency rates are on the rise. The amount of debt being carried by consumers is on the rise.

Collection Agencies 130

Collection Agencies Collections Agency Banks Collections 130

Debt RR

AUGUST 3, 2020

Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Here’s everything businesses need to know about commercial debt collection agencies and how to manage communication without disrupting day-to-day operations.

Collection Agencies 43

Collection Agencies Collections Agency Debt collector Collections 43

Account Recovery

NOVEMBER 9, 2023

A new law that went into effect last week in Minnesota requires hospitals to check whether patients are eligible for charity care before sending an account to a third-party collection agency, while also placing new requirements when seeking to collect on a medical debt by garnishing wages or bank accounts of individuals.

Garnishment 130

Garnishment Collection Agencies Collections Agency Banks 130

Account Recovery

JULY 6, 2022

The Connecticut Department of Banking has levied a $10,000 fine against a company for operating as a consumer collection agency in the state without obtaining the proper license. A copy of the ruling in the matter against Lockhart, Morris & Montgomery can be accessed by clicking here.

Collection Agencies 246

Collection Agencies Collections Agency Consumer Collections Banks 246

American Profit Recovery

MAY 15, 2024

That’s not the way debt collections work. If you’re looking for tips on turning a call from a collection agency into a positive experience, check out our advice here. Do not feel powerless A reputable debt collection professional will take the time to listen to your situation and gain an understanding.

Debt collector 204

Debt collector Collection Agencies Collections Agency Collections 204

Troutman Sanders

OCTOBER 10, 2023

The Connecticut Banking Commissioner (Commissioner), acting through the Consumer Credit Division of the Department of Banking (the Division), conducted an investigation into the Law Offices of David M. The firm allegedly collected about $81,000 of that amount. The firm had 14 days to request a hearing, but failed to do so.

Banks 52

Banks Collections Collection Agencies Collections Agency 52

Account Recovery

NOVEMBER 30, 2021

The Connecticut Department of Banking has ordered a collection agency to refund all charges, fees, and amounts received from consumers in the state for the past five years while also announcing a hearing has been scheduled to revoke and refuse to renew a license for the company to collect in the state and possibly impose … The post Conn.

Collection Agencies 246

Collection Agencies Collections Agency Banks Collections 246

Account Recovery

JANUARY 19, 2022

The Connecticut Department of Banking has revoked a collection agency’s license to collect in the state, while also issuing an order to cease and desist from not cooperating with the regulator, and assessed a fine of $100,000 for failing to provide information that had been requested as part of an examination of the agency.

Collection Agencies 246

Collection Agencies Collections Agency Banks Collections 246

Nexa Collect

JANUARY 19, 2022

If you think that ignoring written demands and calls from a collection agency will spare you from all the consequences, then you are wrong. Your credit card address, your USPS change of address, address on your most recent bills are collected by data aggregation companies and/or credit reporting agencies.

Collections 130

Collections Debt collector Collection Agencies Collections Agency 130

Credits Inc

OCTOBER 16, 2019

As a business owner, when it comes to debt collection, you have a variety of options to choose from. You may be required to seek a business debt collection services agency to help you recover the money owed. million in debt was recovered by debt collection agencies. business debt collection services. ,

Collection Agencies 40

Collection Agencies Collections Agency Collections Debt Recovery 40

Nexa Collect

JANUARY 14, 2023

The US government has thrown a slew of laws on collection agencies, making bad-debt recovery harder and costlier. There are thousands of collection agencies in the USA, but most are small. The following changes can result in many collection agencies shutting their businesses. . New Regulations.

Debt Recovery 130

Debt Recovery Government Collection Agencies Collections Agency 130

Account Recovery

JULY 28, 2023

The Connecticut Department of Banking has fined a collection agency $15,000 for operating in the state without a license, the second time the company has been fined for doing so. A copy of the order against Professional Debt Mediation can be accessed by clicking here.

Collection Agencies 130

Collection Agencies Collections Agency Banks Collections 130

Collection Industry News

DECEMBER 1, 2022

Collections agencies buy your unpaid credit card debt from your card issuer when your balance lingers too long — but that doesn’t mean it goes away. When a collections representative from your credit card issuer calls you, it’s usually because you haven’t made at least the minimum payment for at least 30 days.

Collection Agencies 40

Collection Agencies Collections Agency Credit Card Debt Collections 40

Account Recovery

SEPTEMBER 15, 2021

Lawmakers, state Attorneys General, and state regulators — including those that regulate collection agencies — are praising a decision by the Department of Education to undo a Trump-era rule regulating debt collectors and servicers of federal student loans.

Student loans 245

Student loans Student Loans Collection Agencies Collections Agency 245

CSA

FEBRUARY 3, 2021

Despite many businesses in the debt collection sector making great strides to become people-centric and becoming increasingly acutely aware of where their future skilled workforce is going to come from, like many other sectors, there are still firms that are yet to make apprenticeships a core part of their business strategy. employer brand?,

Collection Agencies 52

Collection Agencies Collections Agency Collections Education 52

Taurus Collect

APRIL 9, 2024

In the dynamic landscape of business, maintaining a healthy cash flow remains a paramount challenge, particularly in the face of rising collection costs. This is where the innovative concept of No Cure No Pay debt collection in the UK presents a compelling solution. It’s part art, part science, and entirely essential.

Collections 72

Collections Debt Recovery Collection Agencies Collections Agency 72

Account Recovery

NOVEMBER 18, 2020

The number of individuals with an account that has been placed with a collection agency continued to hit record lows in the third quarter, even as the average collection amount per person increased, according to data released yesterday by the Federal Reserve Bank of New York.

Collections 162

Collections Collection Agencies Collections Agency Banks 162

Account Recovery

JULY 8, 2021

State regulators, including those that specifically regulate collection agencies, have asked the Department of Education to “cease obstructing or discouraging state regulation” by formally taking steps to prove it is serious about not blocking attempts from state regulators to access records needed to investigate student loan servicers (..)

Student loans 246

Student loans Student Loans Loans Collection Agencies 246

Nexa Collect

APRIL 11, 2021

The debt collection industry has been through one of its most difficult periods in modern history, and the recovery looks slow and prolonged. Performance of Collection Agencies during Covid-19 Pandemic. Economic downturns create a huge opportunity for the debt collection industry.

Collections 130

Collections Collection Agencies Collections Agency Construction 130

FFGN COLLECT NY

MAY 27, 2024

A group that includes banks, credit card companies, mortgage lenders, other financial companies, and debt collectors. In addition to educational components for consumers, the CFPB supervises and inspects banks and others to ensure compliance with the rules. The CFPB collects tens of thousands of debt collection complaints every year.

Collections 52

Collections Debt collector Debtor Education 52

Credit Corp

SEPTEMBER 12, 2023

You can remove collection accounts from your credit report by disputing inaccuracies, asking for goodwill deletions, or requesting a pay for delete agreement. Collection accounts are bad for your credit score. So if you have a debt in collections, your credit score has likely taken a dip.

Collections 92

Collections Collection Agencies Collections Agency Credit Bureau 92