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Business Debt Collection: An FAQ

Credits Inc

Business debt collection agencies tend to get a bad reputation. Too often, individuals who have negative experiences with debt collectors share their upsetting experiences, painting the whole industry with a broad brush in ugly paint. Without a doubt, many misconceptions surround debt collection.

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6 Debt Collection Industry Trends to Watch for in 2024

Taurus Collect

In the rapidly evolving landscape of the debt collection industry, staying ahead of emerging trends is crucial for success. 2024 promises to bring significant changes, with the “ no collection no fee ” debt collection model standing out as a key player.

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Minnesota Establishes Licensing Requirement for Debt Buyers

Troutman Sanders

Earlier this summer, Minnesota extended many of its collection agency requirements to debt buyers through the enactment of H. Information on how to register for a Minnesota collection agency license can be accessed here.

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What Is a 1099-C Form and How Does It Affect Your Credit?

Credit Corp

A 1099-c cancellation of debt form is issued when a lender forgives or cancels a debt. The 1099 c form helps the IRS account for canceled debts from the previous tax year. The 1099-C cancellation of debt form deals with canceled or forgiven debt from the previous tax year. Your mortgage is modified.

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Preserving Your Client Relationships During Commercial Debt Collections

The Kaplan Group

Maintaining client relationships as you pursue an escalated B2B debt collection is a delicate balance. As a business owner, you need to preserve your bottom line, so commercial debt collection is critical. Many industries are “small worlds,” and your clients could be talking to each other more than you think.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools that businesses can use free of charge. State Activities.

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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. Types of Personal Loans According to Business Insider, a personal loan allows you to borrow a specific amount of money via digital or cash deposit for different purposes.