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 also failed to deliver any accounts or trading records as requested.

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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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UK debt collections

APRIL 14, 2022

If you’re running a Business and searching for a debt collection agency (DCA), it is essential you choose the right solution. As with any Business sector, not all debt collection agencies are equal. Cheap is not cheerful as with any type of service, debt recovery or otherwise.

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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. Phone books. State motor vehicle department. Credit bureaus.

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Credit Corp

NOVEMBER 9, 2020

If you or someone you know has dealt with a collection agency, you know how trying it can be. Debt collection agencies have a long history of harassment and illegal practices. Can a collection agency report to a credit bureau without notifying you? The answer might not be that simple.

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American Profit Recovery

MARCH 4, 2022

This is a program established by the Federal Trade Commission and one that we fully embrace. Everyone here at American Profit Recovery understands that as a collection agency we need to be as transparent as possible. There’s a reason why consumers compliment our debt collectors after a telephone conversation.

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Taurus Collect

DECEMBER 20, 2021

Many businesses are turning to trusted debt collectors to take on some of the administrative load of chasing up overdue finances to protect their cash flow. Use these tips to take the stress out of searching for names for debt collectors who can deliver results like fewer outstanding invoices and more cash in the bank.

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Debt Collection Answers

AUGUST 27, 2023

As you hesitantly answer, a stern voice claims to be a debt collector, demanding immediate payment for a debt you’ve never heard of. Whether you’ve faced such calls or want to be prepared, read on to discover how to recognize and deal with suspicious debt collector calls with confidence.

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Credit Corp

AUGUST 31, 2021

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. Can a debt collector collect after 10 years, for example?

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Collection Industry News

SEPTEMBER 6, 2022

The Preferred Group of Tampa, a collection agency in Tampa, FL, has announced that they are addressing the common complaints regarding debt collection. Debt collectors are never going to be popular, but we want to make sure people are treated honestly and fairly.”. David Kelley.

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Credits Inc

DECEMBER 3, 2019

While you might not have considered partnering with an accounts receivable collection agency before, the truth is they can be a valuable asset to business owners across the United States. If you’ve been struggling to collect delinquent payments, here are a few reasons why you should hire a collection agency.

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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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Troutman Sanders

OCTOBER 24, 2023

Recordkeeping and Reporting Requirements The proposed amendments substantially expand the record retention requirements applicable to debt collection agencies set forth in § 2-193 of Subchapter S of Chapter 2 of Title 6 of the NYC Rules.

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Credit Corp

JUNE 1, 2023

How to Improve Your Credit after Collections Debt Collections FAQ What Is Collections Debt? When you default on a payment, the company you owe may sell your debt to a third-party collection agency. Is It Worth It to Pay Off Collections? This is done with a pay for delete letter.

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UK debt collections

FEBRUARY 26, 2024

A local authority exposed by the Sunday Mail for using debt collectors to chase school meal arrears has ditched the policy. Lets hope no parent in any part of Scotland will ever find themselves being chased by debt collectors because they are struggling financially to feed their children. “It

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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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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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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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Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts. Ask Lex Law for Help.

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National Service Bureau

SEPTEMBER 9, 2015

In any case, the huge amount of student debt is important information for consumers, debt collectors, and even the Consumer Financial Protection Bureau (CFPB) to know. If you’re one of the many trying to pay off student debt, it explains options like forbearance, consolidation, delinquency, and deferment.

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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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PDC Flow

AUGUST 18, 2020

Soon enough, I began representing debt collectors , defending them against consumer litigation and helping them build compliance programs in their nationwide businesses. Since the early 2000s I’ve been representing debt collectors, debt buyers, creditors, and attorneys. It was really by accident.

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American Profit Recovery

SEPTEMBER 27, 2020

When we speak with professionals whether in person, by the phone or even at trade shows, we are always asked about some of the tactics they should employ to get their customers to pay on time. Especially if you are running a trade business. Angry customers do NOT say these types of things to debt collectors.

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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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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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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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Better Credit Blog

APRIL 1, 2022

If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. Not only is this untrue, but the debt they are attempting to collect might not even be yours!

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Credit Corp

AUGUST 24, 2020

Two of the most common are coming up with enough money to pay off the debt and negotiating a payment plan or settlement you can afford. Once you’ve accomplished these tasks, you may still be wondering how to pay collections to a debt collection agency. Find out how to pay collections below.

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Credit Management Company

JULY 14, 2021

Everyone in the debt collection industry is familiar with the Fair Debt Collections Practices Act (FDCPA). Reputable collections agencies willingly follow these rules and treat patients with compassion and respect. The debt concerned his son’s medical treatment. Now the FDCPA is in the news again.

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Collection Industry News

JANUARY 10, 2022

If you recently got a text, email or social-media message from a debt collector, here’s one of the first things you should do: Make sure you know your rights. 30, clarify how debt collectors can use modern communication methods such as email, text messages and social media to communicate with consumers, among other things.

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Troutman Sanders

JANUARY 9, 2024

On January 4, the Federal Trade Commission (FTC) and the State of Connecticut announced they are filing suit against an auto dealer for several of its business practices. On January 2, the CFPB published a blog titled, “Holding Debt Collectors Responsible for False Statements.” For more information, click here.

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UK debt collections

NOVEMBER 13, 2020

As reported rises in late payment of invoices start to take their toll, Businesses are looking to source a cost effective solution to collect unpaid invoices. There is a darker side to the Debt Collection industry. The great No Win No Fee Debt Collection gamble. Choosing a Debt Collection Agency to work with.

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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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Consumer Financial Services Law

MAY 25, 2021

While the case will continue to be contested in the Eleventh Circuit, collection agencies and others who rely upon third party vendors have been left to contemplate what comes next. A Quick Summary In Hunstein , the debt collector engaged a third-party vendor to prepare and send its demand letter. LEXIS 11648 at *4.

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Troutman Sanders

JUNE 14, 2023

On June 8, the Commodities Futures Trading Commission (CFTC) obtained a default judgment against a decentralized autonomous organization (DAO) Ooki Dao in the U.S. On June 8, the CFPB acted against a medical debt collector for numerous debt collection and credit reporting violations. According to U.S.

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