Troutman Sanders

FEBRUARY 7, 2023

At a high level, section 547(b) of the Bankruptcy Code allows a bankruptcy trustee to avoid, as preferences, many transfers made by the debtor within 90 days before the filing of the bankruptcy petition. Creditmax Collection Agency, Inc. , Creditmax Collection Agency, Inc. , In Warsco v.

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Debt RR

AUGUST 3, 2020

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Can Debt Collectors Garnish Bank Accounts in Texas?

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Stevens Lloyd

DECEMBER 13, 2018

You have initiated a lawsuit and won a Default Judgment against the debtor. Judgments are worthless unless you can locate and garnish the debtor’s assets, however. Extracting money from judgments necessitates obtaining significant information about the debtor as it relates to their assets. So now what ?

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Collections Law

FEBRUARY 28, 2023

Some commercial debtors just won’t pay up even when they’ve lost in court. To turn that judgment into money, you need the experienced collection attorneys at The Law Offices of Alan M. You can’t get any further with a collection agency. Rule 65 injunctions prevent debtors from hiding assets. Can you believe it?

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Taurus Collect

AUGUST 15, 2023

Identify the Key Advantages of Outsourcing Debt Collection Services When you outsource no win no fee debt collection services, you reap a myriad of benefits that can truly streamline your business operations and improve your cash flow. Payment Negotiation: If the debtor acknowledges the debt, the collector negotiates terms of payment.

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Taurus Collect

MAY 11, 2023

Overview of The Credit Card Debt Collection Process Credit card debt collection can be a stressful experience for both the debtor and the creditor. The process begins when the debtor stops making payments on their credit card and goes into default. About Us Taurus Collections (UK) Ltd.

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Collection Industry News

JUNE 1, 2023

This presents a substantial opportunity for debt collection agencies to assist lenders in recovering unpaid debts and managing default risks. Economic Factors: Economic conditions directly impact the debt collection industry. As businesses expand globally, debt collection agencies can extend their services across borders.

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Direct Recovery

APRIL 18, 2023

Of course, there is also the fact that you’re probably more concerned with running your own business than collecting from a failed one. That’s why many small business owners prefer to hire commercial debt collection agencies to manage collections on their behalf. What is Commercial Debt Collection?

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Sawin & Shea

NOVEMBER 15, 2023

In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets. If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something.

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Stevens Lloyd

AUGUST 17, 2018

If you currently have a debtor that is making excuses for non-payment or outright refusing to pay, then you might want to consider soliciting the services of a professional debt collection agency. In the past few years, there has been a rise in the number of debtors who refusing to pay monies owed.

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The Kaplan Group

OCTOBER 19, 2020

The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals. The law does not apply to collecting from businesses. You can learn more about FDCPA in our advice to consumer debtors. Garnishment.

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The Kaplan Group

AUGUST 6, 2020

If your clients or customers owe you money, consider talking to a collection agency like ours for advice on how to solve the problem. We can also garnish payments from the debtors’ customers and garnish their credit card and Paypal accounts. Declare Bankruptcy.

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Debt Free Colorado

FEBRUARY 21, 2022

When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. The Fair Debt Collection Practices Act (FDCPA) does not apply to original creditors or cover company obligations. Repeatedly call you.

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do? Automatic Stay Violations.

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do? Automatic Stay Violations.

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Sawin & Shea

JULY 20, 2022

Have you ever been incessantly contacted by a debt collection agency trying to get money from you? It can be difficult to understand just what exactly these agencies are legally allowed to do, and what crosses the line. The majority of debt collectors work for reputable collection companies. That’s why we’re here to help.

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Collection Industry News

MAY 9, 2023

One significant aspect of the enforcement process involves locating assets belonging to the judgment debtor. By identifying these assets, you can explore avenues for garnishment, liens, or other means of debt recovery. Investigate Employment and Income Sources: Determine the judgment debtor’s employment status and income sources.

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Burr Forman

DECEMBER 4, 2020

On April 23, 2020, Governor Gavin Newsom issued Executive Order N-57-20 exempting stimulus payments and other COVID-19-related government financial assistance from attachment, levy, execution, or garnishment. On August 31, 2020, the state legislature enacted the COVID-19 Tenant Relief Act of 2020.

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Payment Savvy

NOVEMBER 30, 2021

Suppose your company works in the field of debt collecting, such as third-party debt collection firms , collection attorneys, debt buyers, or defaulted mortgage servicers. Regulation F affects everything from debtor communication to multi-state compliance. Lost or garnished wages. Civil Responsibility.

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Taurus Collect

MARCH 5, 2024

Creditors may take legal action to recover the debt, which might result in wage garnishment or a lien against your property. Increased Debt Through Fees and Interest: Many collection agencies add additional fees and interest to the original debt amount. Legal Actions: Ignoring debt collectors can potentially lead to lawsuits.

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FFGN COLLECT NY

JANUARY 31, 2024

Here is an extreme situation of a bad actor detailing what the New York State Attorney General would pursue a Debt collection company: Filed in 2020, the NYS Attorney General partnering with the Consumer Fraud Protection Bureau ( CFPB ) shut down a Buffalo collection agency.

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Stevens Lloyd

SEPTEMBER 27, 2018

At the Stevens-Lloyd Group, in addition to utilizing our unique blend of incorporating phone calls, strong written communication skills and litigation, we also utilize more advanced debt collection techniques. These include Writs of Execution, Bank levies, and Wage garnishments. What is a Writ of Execution. Bank Levies.

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Stevens Lloyd

JULY 30, 2018

The roles played by Credit Bureaus and collection agencies. there is a wide range of debt collection agencies. Some of these debt collection agencies have branches throughout the country. Due to the nature of their business, debt collection agencies are regulated by federal and state law.

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Collections Law

OCTOBER 5, 2020

When faced with this dilemma, don’t further waste your time and efforts chasing your debtor, spend your time making money and leave your bad debt recovery to the experienced and aggressive collections attorneys at the Law Offices of Alan M. The relentless collection lawyers at the Law Offices of Alan M. Cohen LLC. .

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Taurus Collect

JANUARY 24, 2023

For many debtors, their primary contact with collectors will be through phone conversations. During these conversations, collectors may attempt to pressure debtors into making payment arrangements or discuss options for settling the debt for less than what is owed.

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Collections Law

JULY 1, 2020

You’ve tried everything in your power, but the debtor doesn’t respond or keeps making excuses to buy more time. You’ve already tried hiring an agency, but they say there is nothing more that they can do. Collection agencies are passive organizations that make the same effort you were making before you brought them on board.

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Collections Law

JULY 29, 2021

The initial step to commercial debt collection is long before you send your debtor to collection. Relying on handshakes and oral promises may feel more natural but in commercial debt collection, it is extremely helpful to have good paperwork. The collections attorneys at the Law Offices of Alan M.

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Credit Corp

AUGUST 31, 2021

This means that even a debt that is older than that may still be able to be collected on if you’ve made a payment sometime in the last four to six years. In some states, a collection agency cannot try to collect at all once a debt is past the statute of limitations. Can a Collection Agency Report an Old Debt as New?

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National Service Bureau

APRIL 6, 2015

Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. 5: Improper contact or sharing of information.

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Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. Can a debt collector collect after 10 years? In some states, a collection agency cannot try to collect at all once a debt is past the statute of limitations.

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Better Credit Blog

AUGUST 31, 2020

Estimates suggest that close to one-third of Americans have debt in collections. Even a single entry from a collections agency can do damage to your credit score for several years. Read on for a quick guide to dealing with the collections agency and getting it deleted from your report. The good news?

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Collections Law

MAY 7, 2020

This local company turned to us after seeing minimal progress with a collections agency and were able to receive their monies without alienating their client. When we win your case, collecting the judgment may be made easier if monies were previously frozen by way of an ex parte bank or trustee attachment. and Crest Tractor.

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Better Credit Blog

AUGUST 31, 2020

What Is the Fair Debt Collection Practices Act (FDCPA)? The Fair Debt Collection Practices Act is the federal law that sets rules for how debt collectors can contact debtors, protecting consumers from unethical or inaccurate collection attempts. Collection agencies may speak exclusively with your attorney if you choose.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. Chapter 13 Bankruptcy: Chapter 13 bankruptcy is a reorganization of debts for debtors with regular income. Debt collection agencies can be thoroughly unpleasant. What does each one mean?

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Better Credit Blog

AUGUST 25, 2020

The agency has been in the business of debt collection since 1980. Though they collect from debtors across the nation, their headquarters are in Cleveland, Ohio. Unlike service providers or banks that may appear on your credit report, MB&W is a debt collection agency. Arrange a pay-for-delete agreement.

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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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Collection Industry News

JULY 20, 2020

The Education Department is suspending collections on federal student loans and urging private collection agencies to stop pursuing borrowers. The group, which spent $780,000 lobbying federal officials last year, has worked to expand the industry’s ability to inundate debtors with robocalls and legal threats.

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