Credit Corp

OCTOBER 16, 2023

Debt collectors send debt validation letters show what debts you owe, the amount, and to whome you owe it to. While a debt collector contacting you can be stressful, it’s important to pause and remember your rights as a debtor. Before paying the debt collector, verify that the debt is actually yours.

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Credit Management Company

AUGUST 9, 2022

Before you can collect on any debt, you need to validate the debt in accordance with the Fair Debt Collection Practices Act. Here’s what you need to know about debt validation. Why you need to validate debt. Running afoul of these rules when collecting a debt can get your company fined or punished.

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Collection Industry News

JUNE 14, 2021

In 2018, Homeland Security Investigations agents got a search warrant and seized $242,088 from Nocera’s business and personal bank accounts, after convincing a judge there was probable cause to believe the funds were derived from unlawful debt collecting and wire fraud. The settlement also permanently banned them from debt collection.

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National Service Bureau

DECEMBER 9, 2015

Here, we share three mistakes gleaned from a study of Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) enforcement actions. These are important for debt collectors to avoid, especially because they’ve been emphasized recently. Enforcement actions involving servicemembers.

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Better Credit Blog

AUGUST 31, 2020

Having debt in collections can be downright overwhelming, especially when debt collectors bombard you with dozens of phone calls. Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. Table of Contents.

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National Service Bureau

JUNE 10, 2015

Debt collectors sometimes have a bad rap, but the truth is that they provide an important service to society so long as their practices are ethical in nature (i.e. Choosing the right debt collection agency is an important decision that can have both positive and negative repercussions for your business.

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Taurus Collect

AUGUST 19, 2020

This year has been more than challenging for UK businesses with the evolving COVID situation and No Win No Fee Debt collection is becoming more important than it has ever been. As a b2b collection agency, we feel it is our duty to help businesses from all industries collect debts quickly.

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Troutman Sanders

OCTOBER 19, 2021

These FAQs are a Compliance Aid designed to help collection agencies comply with Reg F, which goes into effect on November 30, 2021. State Activities: On October 26, the Maryland Office of the Commissioner of Financial Regulation will host a free online information session for Maryland consumer debt collection agencies.

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National Service Bureau

AUGUST 28, 2015

The Fair Debt Collection Practices Act was first passed almost 40 years ago to govern the tactics used by debt collection agencies pursuing consumer debt. I t’s clear that debt collection practices are in the spotlight, so let’s take a look at FDCPA compliance and what it means for business.

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National Service Bureau

AUGUST 19, 2015

There are those organizations who are licensed, professional, effective, and ethical, and then there are those who would take advantage of specialized knowledge or the opportunity to take money unlawfully from debtors. Let’s take a look at some of the miscreants in the debt collection industry. Or no legitimate debt buyer?

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Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. Colorado – On June 29, 2020, the Colorado legislature enacted Senate Bill 20-211.

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Debt RR

SEPTEMBER 9, 2020

Also known as a demand letter, a collection letter is an official notification drafted by a lender or debt collections agency and sent to a debtor to remind them of their delinquent payments. Debt collection letters can be issued to both commercial and consumer debtors. Debt Warning Letter.

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AGA

OCTOBER 19, 2018

As a 3 rd party collection agency, we have heard it all when it comes to why once good paying customers that were easy to work with are now past due, no longer ordering and unresponsive to your attempts to contact them. Trade references. At least three trade credit references should be contacted and all of their banks.

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FDCPA Defense

APRIL 17, 2019

Instead, you will come across section 1692e(3) of the FDCPA, which contains a simple rule: a debt collector may not make a “false representation or implication that any individual is an attorney or that any communication is from an attorney.” In Clomon v. Jackson , 988 F.2d 2d 1314 (2d Cir. Similarly, in Avila v. Rubin , 84 F.3d

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Troutman Sanders

MAY 17, 2021

On May 12, the Senate Commerce Committee (FTC) voted to proceed with Lina Khan’s nomination as commissioner of the Federal Trade Commission. On May 13, the Nevada Financial Institutions Division (NFID) extended its temporary guidance allowing employees of licensed collection agencies to work from home through July 31.

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UK debt collections

DECEMBER 8, 2021

Debt Collectors in the USA have been given the green light to use Social Media to help collect debts. American Debt Collectors will now be able to chase down debtors via direct messages on social media on platforms such as twitter and facebook.

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Collection Industry News

DECEMBER 8, 2022

Debt collectors are now allowed to contact Americans on social media and by text message, according to new rules enacted by a US agency this week. Seven calls can be made each week for any particular debt, but people with multiple debts may still be called dozen of times each week.

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Collection Industry News

DECEMBER 1, 2022

Debt collectors are now allowed to contact Americans on social media and by text message, according to new rules enacted by a US agency this week. Seven calls can be made each week for any particular debt, but people with multiple debts may still be called dozen of times each week.

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PDC Flow

OCTOBER 20, 2020

However, trade organizations – like the California Association of Collectors (CAC) – remain dedicated to providing resources and networking opportunities for members, just as in years past. However, she says some consumers become or remain upset regardless of how polite a collector may be. 6) The resurrected debtor.

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Collection Industry News

JANUARY 19, 2021

Those were just two of more than 1,800 loans that went to debt collectors and high-interest lenders through the Paycheck Protection Program, according to an analysis by The Washington Post. Twenty-five have been subject to legal enforcement or consumer alerts, many by the CFPB and the Federal Trade Commission. It received $1.5

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