Account Recovery

MAY 12, 2021

AG Recalls $18M From Collection Agencies, Will Refrain From Placing Student Fee Accounts With For-Profit Agencies Moving Forward appeared first on AccountsRecovery.net.

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Collection Agencies Collections Agency Collections Student loans 228

Account Recovery

FEBRUARY 9, 2021

Student Loan Collection Overhaul Being Considered appeared first on AccountsRecovery.net. The bill … The post Proposed Colo.

Student loans 204

Student loans Student Loans Loans Collections 204

Taurus Collect

NOVEMBER 15, 2023

Dealing with a collection agency can often feel like navigating a maze, especially when there seems to be a change in your account’s open date. If you’ve found yourself in this situation, you’re likely asking, “Can a collection agency change an account’s open date?”

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Account Recovery

JULY 8, 2021

To Rescind Guidance and Make it Easier to Investigate Student Loan Collectors appeared first on AccountsRecovery.net. The letter was written by … The post State Regulators Ask Ed. The letter was written by … The post State Regulators Ask Ed.

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Student loans Student Loans Loans Collection Agencies 246

Account Recovery

SEPTEMBER 14, 2020

A District Court judge in Connecticut has granted a motion to dismiss filed by a collection agency, a student loan servicer, and the plaintiff’s employer for allegedly violating the Fair Debt Collection Practices Act by attempting to garnish the plaintiff’s wages, because the statute of limitations on filing a claim had passed when the (..)

Student loans 147

Student loans Student Loans Loans Fair Debt Collection 147

Nexa Collect

SEPTEMBER 15, 2020

Need a Collection Agency – Serving Nationwide? The financial pressures have triggered feverish increases in the number of loan impairments for residential and commercial real estate loans. At that point, commercial and multifamily loan delinquencies hadn’t moved much from their resting state of.6%,

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Account Recovery

JUNE 1, 2021

Previously, state attorneys … The post Cordray Signs Off on Policy Making it Easier for Student Loan Companies, Collectors to be Investigated appeared first on AccountsRecovery.net.

Student loans 246

Student loans Student Loans Loans Education 246

Account Recovery

NOVEMBER 11, 2022

Class-Action Over Not Using MVN; Judge Blocks Student Loan Debt Cancellation appeared first on AccountsRecovery.net.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

OCTOBER 17, 2022

MVN NOT A REQUIREMENT UNDER REG F, JUDGE RULES In a case where a collection agency has sued its client for allegedly breaching their contract, a federal judge has granted a motion to remand the case back to state court, ruling the Model Validation Notice is not a requirement to be used under Regulation F.

Student loans 246

Student loans Student Loans Loans Collection Agencies 246

Nexa Collect

JUNE 27, 2023

Recovering unpaid student loans is a systematic process. Just like mortgage recoveries, the steps can vary depending on the jurisdiction and the terms of the loan. Employ a Collection Agency : If the borrower is unresponsive or unwilling to pay, employ the services of a collection agency.

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Student loans Student Loans Loans Garnishment 100

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.

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Collection Agencies Collections Agency Collections Debt Recovery 52

Account Recovery

SEPTEMBER 14, 2020

Judge Grants MTD in Student Loan Collection Case; Unlicensed Debt Collector Arrested in N.C. appeared first on AccountsRecovery.net.

Student loans 147

Student loans Student Loans Debt collector Loans 147

The Kaplan Group

MARCH 13, 2020

As a collection agency, we obviously think that we’re in the best position possible to help you collect on unpaid invoices. If you have an invoice from a company that has been difficult to collect from, a factoring company is unlikely to accept that invoice. Typically, it’s better to go to a collection agency first.

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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.

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Student loans Student Loans Collection Agencies Collections Agency 245

Sawin & Shea

NOVEMBER 30, 2022

Student loan default can impact millions of Americans. Unfortunately, defaulting on a student loan can hurt your finances, credit, and other aspects of your life. If you fall behind on student loan payments, your loan won’t default immediately. What Are My Options After Defaulting on Student Loans?

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Student loans Student Loans Loans Garnishment 112

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.

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Collections Debt collector Collection Agencies Collections Agency 130

Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. For this reason, creditors are hiring debt collection agencies to collect debts that are 60 days past the agreed period. Therefore, the agencies act as middlemen collecting any delinquent loans.

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Debt RR

SEPTEMBER 9, 2020

Collecting debts is time-consuming, especially if the debtor refuses to cooperate. Due to the frustration they encounter when collecting debts, they may resort to outsourcing the debt collection process to a collection agency for small businesses. How Small Businesses Proceed with Collections.

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Collection Agencies Collections Agency Collections Debt collector 63

Sawin & Shea

OCTOBER 5, 2022

Student loan debt is a serious problem in the United States, and it’s an issue that impacts millions of Americans. As of January 2022, around 45 million people have student loan debt, which is 13.5% The total collective amount of federal and private student debt is around $1.75 Consequences of a Federal Student Loan Default.

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Student loans Student Loans Loans Garnishment 93

Credit Corp

JUNE 1, 2023

Your credit score may improve if your collection debt is reported to a new credit scoring model—FICO 9®, FICO 10®, VantageScore 3.0® If you’ve gotten behind on payments to a creditor or lender, your debt could be sent to collections after around 120 days of missed payments. In This Piece: What Is Collections Debt?

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Collections Debt collector Collection Agencies Collections Agency 126

Account Recovery

AUGUST 3, 2023

The Court of Appeals for the Third Circuit has reversed a lower court’s ruling and concluded that a plaintiff has standing in federal court to pursue a class-action lawsuit against trusts that owned a student loan and the collection agency that was managing the account.

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Student loans Student Loans Collection Agencies Collections Agency 130

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.

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Collections Collection Agencies Collections Agency Construction 130

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.

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Collections Collection Agencies Collections Agency Credit Bureau 92

Better Credit Blog

APRIL 5, 2022

A collection account will lower your credit score and can generally stay on your credit report for up to seven years. Often, a collection entry will even keep you from getting a mortgage or securing an auto loan, which is why it’s important to do all you can to remove collections from your credit report quickly.

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Collections Collection Agencies Collections Agency Original Creditor 98

True Accord

MARCH 5, 2024

Bottom line: households took on more debt at the end of last year and we’re seeing loans increasingly going bad, according to data from the Federal Reserve Bank of New York , leading to a shift in consumer spending for 2024. million borrowers missed their student loan payment, equating to 40% of loan holders.

Consumer Credit 86

Consumer Credit Student loans Student Loans Collections 86

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.

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Collection Agencies Collections Agency Credit Card Debt Collections 40

Sawin & Shea

OCTOBER 26, 2022

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. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method best suits your financial situation. Payday loans.

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Personal loans Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 98

Sawin & Shea

FEBRUARY 28, 2024

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. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

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Personal loans Bankruptcy Chapter 13 bankruptcy Loans 52

Katabat

DECEMBER 2, 2019

SoFi will leverage Katabat’s industry-leading Restore collections platform, to deliver an omnichannel experience for consumer collections. The post Katabat Platform to Support SoFi Ominchannel Personal Loan Collections appeared first on Katabat.

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Personal loans Loans Collections Debt Management 78

Credits Inc

AUGUST 1, 2019

Between student loans, unpaid medical bills, and other financial woes, it's no surprise that roughly 70 million Americans were contacted about debts or were pursued by debt collection services between 2016 and 2017. debt collection and recovery services. Signs It's Time to Hire a Collection Agency. bills, too.

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C2C

APRIL 3, 2020

Read More » The post Something to Consider with Payroll Protection Loans appeared first on C2C Resources Commercial Debt Collection Agency. If you are still wondering if you qualify and how to apply for aid, we recommend going to the.

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Loans Collection Agencies Collections Agency Collections 87

Taurus Collect

MARCH 7, 2022

Debt collection is the approach of pursuing payments of debts owed by different entities (individuals or businesses). It occurs when a collection agency or a company attempts to collect past-due debts from borrowers. Debt collection often varies depending on the agency that is collecting the debt.

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Collections Debt collector Collection Agencies Collections Agency 52

Payment Savvy

APRIL 21, 2021

Fast forward to the present day, and professional third-party debt collection agencies have made it efficient, compliant, and cost-effective for companies to recover owed monies. Over the years, the debt collection industry has experienced many ebbs and flows. The Traditional Debt Collection Process.

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National Service Bureau

APRIL 15, 2015

Last week we wrote about 2014 CFPB complaints against debt collection agencies. Of these, 1,346 related to credit card collections and 1,057 had to do with healthcare collections. Credit card collections again led the way with 1,660 complaints. 5: Improper contact or sharing of information. And finally ….

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Collection Agencies Collections Agency Collections Credit Card Collections 40

Credit Corp

SEPTEMBER 13, 2023

You can start by getting a secured credit card, becoming an authorized user, or getting a cosigner on a loan. A low credit score leads to higher interest rates, larger deposits, and a low approval rate for loans and lines of credit. On your own, you may not receive approval on a personal loan or car loan.

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Collection Agencies Collections Agency Loans Financial Institution 105

The Kaplan Group

JANUARY 7, 2021

How did Covid-19 and the resulting economic downturn affect the collections industry? TransUnion recently released a report on the state of Collections in 2020. There are fewer third-party collections agencies. The number of collection firms has been in decline since 2011, from 9,400 to 7,401 in 2018.

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Collections Collection Agencies Collections Agency Student loans 59

Nexa Collect

APRIL 27, 2021

Some debt collection agencies agree to remove the entry from the debtor’s credit report once the bill is paid off, but this is not common. Offering the removal of credit report entry in exchange of payment is considered a highly unethical practice by both credit reporting agencies and in the accounts receivable industry.

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