Katabat

JANUARY 24, 2020

The conference, occurring February 3–6, 2020, brings together key participants in the receivables management industry, including debt buying companies, collection agencies, collection law firms, brokers, originating creditors, and affiliates.

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Troutman Sanders

MARCH 22, 2023

An Illinois federal district court recently denied a creditor-defendant’s motion for summary judgment in a Fair Credit Reporting Act (FCRA) case brought by a consumer who questioned why his debt was being reported twice — as both a tradeline with the original creditor and as a tradeline with a third-party collection agency.

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Better Credit Blog

JULY 13, 2020

Nationwide Recovery Service will also appear on your credit report as a collection agency, which can damage your credit score. Nationwide Recovery Service and other collection agencies are notoriously unpleasant to deal with, but their impact on your credit score is far worse than a stern letter.

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Better Credit Blog

AUGUST 21, 2020

If you have failed to pay a bill, you may begin to hear from a collection agency known as Radius Global Solutions. This means that Radius Global Solutions has acquired your debt from the original creditor and has opened a collection account on your credit report. What is Radius Global Solutions?

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Better Credit Blog

AUGUST 22, 2020

CCS Offices is a company that collects debts on behalf of original creditor. They do this by either purchasing the debt or collecting the payments and taking a portion for themselves. To do this, they must first open an account on your credit report that shows that they are authorized to collect on the debt.

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Consumer Financial Services Law

JANUARY 22, 2021

Finally, if the validation notice is being sent electronically, a statement explaining the consumer can dispute the debt or request original creditor information electronically. The Rule additionally requires the following additional prompt: “I want you to send me the name and address of the original creditor.”

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Consumer Financial Services Law

FEBRUARY 17, 2021

Enloe While it remains to be seen what, if any, changes a change in leadership in the CFPB will bring to the Debt Collection Rule, for now collection agencies should begin readying themselves for a November 30 th effective date. By: Caren D. Section 1006.34(c)(2)(i) What’s Next?

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Better Credit Blog

APRIL 1, 2022

Within your lifetime, you may have a period of financial distress. Especially in the current pandemic, COVID 19, medical bills, credit card bills, and other financial service bills may start to pile up. Keep in mind the end goal of all collection agencies is to get money.

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Consumer Financial Services Law

AUGUST 14, 2017

Capital Management Services, the collection agency sent a single letter which identified the original and current creditor, the account number as “5702” and the amount of the debt as $565.91. In Powers v.

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Consumer Financial Services Law

JANUARY 3, 2018

To comply with the reasoning of Islam , creditors and debt collectors may wish to craft demand letters without the phrase “as of the date of this letter” if the debt will not increase, or to maintain a policy under which charged off debt continues to accrue interest and fees.

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Consumer Financial Services Law

MAY 25, 2021

Preferred Collection and Management Services, Inc., 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. What Does this Mean Regarding Collection Agencies’ Current Use of Third Party Vendors?

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Better Credit Blog

FEBRUARY 19, 2021

FMA Alliance is a medium-sized debt collection agency that is headquartered in Houston, TX. Originally founded in 1983, FMA Alliance serves clients across a variety of industries. The majority of their clientele are within: financial services. health care. education industries.

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Troutman Sanders

NOVEMBER 16, 2021

Department of Education terminated its contracts with private debt collection agencies. The letter identified several recommendations the senators would like to see the CFPB enact to address their concerns. For more information, click here. On November 8, the U.S. For more information, click here. For more information, click here.

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Better Credit Blog

APRIL 5, 2022

The first step, if you have paid the full collection account, settlement, or have been making regular on-time payments, is to mail the collection agency a “ goodwill letter ” that explains your situation. Ask the Collection Agency to Validate the Debt. Anything else that appears to be inaccurate.

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PDC Flow

JANUARY 12, 2021

What do you predict will be the top concerns for debt collection in the coming year? President, Online Information Services. I think early on in 2021 the challenges will be staff and the flow of accounts from the original creditors. . “I Early 2021. “I The inclusion of call limits has been particularly concerning.

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Troutman Sanders

MAY 17, 2021

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. 248, which limits a collection agency’s ability to collect on medical debt. For more information, click here.

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