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Compliance Digest – January 13

Account Recovery

HHS Issues Proposed Cybersecurity Rule to Amend HIPAA With more than 167 million individuals affected by healthcare data breaches in 2023 alone, the Department of Health and Human Services (HHS) is taking action to address increasing cyberattacks on healthcare systems. More details here.

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Compliance Digest – May 19

Account Recovery

WHAT THIS MEANS, FROM BRENT YARBOROUGH OF MAURICE WUTSCHER: The plaintiff in this case essentially claimed that the debt was not hers, but the factual background was not so straightforward. The plaintiff was a healthcare provider who assisted her patient with obtaining internet service. More details here.

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Government is Making Debt Recovery a lot Harder

Nexa Collect

Extra costs to comply with these laws would be passed on to businesses /creditors, who are already unwilling to pay the current costs associated with hiring a professional debt collector. This means all collection agencies must secure consumer data nearly the same way as banks. Read: Impact of the GLBA on Collection Agencies.

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50+ Commercial Debt Statistics

The Kaplan Group

Delinquencies Rising Across Loan Types C&I loan delinquencies rose from 0.77% in Q3 2023 to 1.28% by Q4 2024 CRE loan delinquencies hit a 10-year high at 1.57% Office loan delinquency alone reached ~11% The Collections Industry and Legal Enforcement B2B Recovery Rates Are Low Debt collectors recover just 20 cents per dollar on average.

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FDCPA Compliance: Answering Your Questions About Regulation F

PDC Flow

On November 30, 2021, debt collectors are expected to be fully ready to comply with this long-awaited rule. We have wanted a road map of what a regulator would feel is appropriate conduct for us, to communicate to consumers and collect debt. ”. how to present your company’s name without revealing you are a debt collector.

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How to Remove AR Resources Inc. from Your Credit Report

Better Credit Blog

If you have a debt that has gone to collections, you may have heard from a company called AR Resources. AR Resources is a debt collector that has been hired on behalf of the original creditor. To do this, they must first open an account on your credit report that shows that they are authorized to collect on the debt.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On October 26, the Nevada’s Financial Institutions Division is holding a workshop on regulations pertaining to medical debt collections and S.B.