Collection Agency Wins MSJ Against S.C. AG in Anti-Spoofing Lawsuit
Account Recovery
JULY 14, 2022
AG in Anti-Spoofing Lawsuit appeared first on AccountsRecovery.net.
Collection Agencies in Puerto Rico
Nexa Collect
MARCH 12, 2021
Debt collection agencies in PR include Kinum , TSI , CICA, ILCA and Professional recoveries. Spanish and English-speaking debt collectors are required for Puerto Rico debt collection. Need a Collection Agency in PR? Puerto Rico is one of the states that regulate the collection of fees and interest.
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Can a Debt Collection Law Firm Act as a Debt Collection Agency?
FFGN COLLECT NY
JUNE 14, 2023
When a debtor owes a creditor money and the creditor is seeking assistance collecting the amount owed, the creditor can either use a collection law firm or a collection agency. Law firms and collection agencies serve the same purpose initially.
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Maine Credit Reporting Amendments Pre-Empted by FCRA, Judge Rules
Account Recovery
OCTOBER 12, 2020
A District Court judge in Maine has granted a trade association’s motion for judgment after it sued the state for enacting laws that governed how, among other things, medical debts are reported to credit reporting agencies by collection agencies.
Collecting Business Debt: Five Best Practices When Working With A Collections Agency
Taurus Collect
OCTOBER 30, 2023
Understanding the art of debt collection can be a challenging task for any business, especially when the debtor refuses to pay despite many reminders. In such situations, engaging a collections agency becomes inevitable. Access to Documentation: Ensure that your chosen collections agency has full access to these documents.
Can a Collection Agency Report to the Credit Bureau Without Notifying You?
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? government or any state. So, when does this happen?
Double Reporting Leads to Denial of Summary Judgment in Illinois FCRA Case
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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Artificial Intelligence in Collections Industry
Nexa Collect
JUNE 10, 2023
By using machine learning algorithms, AI can predict the likelihood of a debtor repaying the debt, allowing collection agencies to prioritize their efforts and allocate resources more effectively. Lowering Collection Costs: Human debt collectors take a significant percentage of all money recovered by them.
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What Happens if you Ignore Debt Collection Calls
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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Second Circuit Overturns Bona Fide Error Defense to FDCPA Violations Because Debt Collection Agency Lacked Relevant Procedures
Troutman Sanders
SEPTEMBER 15, 2020
On September 4, 2020, the Second Circuit Court of Appeals overturned summary judgment granted to a debt collector who had sent collection documents to the wrong person, ruling that it was not entitled to the bona fide error defense because it lacked procedures governing the factual mistake.
Dealing with Debt Collectors
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.
What Really Happens When Your Bill Goes Into Collections
Taurus Collect
FEBRUARY 27, 2023
Once your bill is in collections, you’ll be contacted by a collection agency , which will try to collect the outstanding amount. If you still don’t pay, the debt may be sold to a third-party collection agency. This usually happens after you’ve received multiple warnings from your creditor.
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Troutman Pepper Weekly Consumer Financial Services Newsletter
Troutman Sanders
FEBRUARY 13, 2024
Supreme Court unanimously ruled that government agencies can be sued for violations of the Fair Credit Reporting Act (FCRA). However, the Court upheld the Third Circuit’s decision that the FCRA allows for suits against “any person,” including government agencies. billion in debt. For more information, click here.
The Growth Potential of the Debt Collection Industry: An In-Depth Analysis
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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Navigating Commercial Debt Collection: Tips and Best Practices
Taurus Collect
DECEMBER 18, 2023
What is Commercial Debt Collection and How Does it Work Commercial debt collection is the process of pursuing payment of debts owed by businesses. When a business owes another business, the owed entity may engage a commercial debt collection agency to recover the debt on their behalf. Avoid agencies that fail to do this.
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Can a Debt Collector Get Into My Bank Account?
Credit Corp
JUNE 3, 2021
In some cases, a spouse might have some legal protection against creditors seeking to collect money owned by their partner. Accounts containing government benefits. Accounts that hold government benefit payments , such as those that come from Social Security, also have some special protections when it comes to collections.
Can Debtors Be Legally Forced To Pay Debt With Their Cryptocurrency
Nexa Collect
NOVEMBER 1, 2021
Individuals can be legally forced to pay their debts with their cryptocurrency, but the creditor must have a judgment which states that the debtor is obligated to pay off the debt, including any cryptocurrency they own. government regulatory bodies treat cryptocurrencies differently. government earlier before? Summary: Indeed!
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Third Circuit Finds No Exception Under FCRA for a Furnisher’s Failure to Investigate “Frivolous” Indirect Dispute
Troutman Sanders
OCTOBER 4, 2023
The plaintiff did not provide the documents and the account was referred to a collection agency and reported to the CRAs as delinquent. The collection agency received the indirect dispute, updated the plaintiff’s address in the system, and confirmed the account name and social security number, but did not investigate the fraud claim.
Understanding New York Debt Collection Laws
FFGN COLLECT NY
JANUARY 13, 2021
Whether you are looking for assistance with collection efforts or want to make sure your current vendor is in compliance, you should be familiar with the laws that govern New York debt collection. This way you can be sure your agency or attorney is in compliance. New York Debt Collection Laws.
How Many Times Can a Debt Collector Call Me in One Day
Taurus Collect
NOVEMBER 15, 2023
Regulations around debt collection are strict, and experts from no cure no pay debt collection UK are here to help you navigate these waters. In this post, we will explore the rights and regulations governing debt collection in the UK. The FOS can independently review your complaint and provide a judgment.
Give Your Company More Leverage If Your Customer Does Not Pay
The Kaplan Group
APRIL 12, 2021
This could be more money, faster payments, avoiding court, or if necessary, the final outcome in court and the subsequent judgment collection process. One of the most common issues we see is no provision for the imposition of collection fees on the customer.
You’re in Debt: 9 Terms to Know
The Kaplan Group
OCTOBER 19, 2020
FDCPA ( Fair Debt Collection Practices Act). 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. Acceleration Clause.
How To Remove Fairway Collections From Your Credit Report
Better Credit Blog
FEBRUARY 15, 2021
Though you may be unfamiliar with Fairway, the agency collects on a wide range of consumer debts, including the following: Health insurance billing and follow-up. Self-pay collections. Government fines and fees. After some time, they may turn your debt over to collections. How to Deal with Fairway Collections.
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How Long Can You Collect on Credit Card Debt?
Payment Savvy
NOVEMBER 5, 2020
Each state gives creditors and collection agencies varying times to file suit on unpaid and delinquent credit card debt. Note that in all states, these limitations are governed by state laws – not federal. Creditors and collection agencies should understand the statutes of limitations according to their state.
How To Remove Account Control Technology From Your Credit Report
Better Credit Blog
OCTOBER 19, 2020
Confronting a collections agency about your debt can be stressful, especially when you’re receiving countless calls and constant messages from them. is a sizable debt collections agency that has been in business since 1993. Account Control Technology collects on a long list of debts, including: Commercial debt.
How To Remove Account Control Technology From Your Credit Report
Better Credit Blog
OCTOBER 19, 2020
Confronting a collections agency about your debt can be stressful, especially when you’re receiving countless calls and constant messages from them. is a sizable debt collections agency that has been in business since 1993. Account Control Technology collects on a long list of debts, including: Commercial debt.
Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter
Troutman Sanders
JANUARY 19, 2021
Currently set to expire on February 1, the collection actions subject to the moratorium include garnishment, attachment, and levy. On January 12, the Washington State Collection Agency Board approved a permanent rule allowing employees of licensed collection agencies to work remotely. Check with the real agency.”
Meet some Buffalo debt collectors accused of unlawful practices
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. A judgment of $22.5 million Clarence residence. In 2016, Kelly S.
CFPB Reaches Settlement With Debt Collector Over Deceptive Practices
Collection Industry News
DECEMBER 21, 2020
Last week, the CFPB issued a Consent Order against a New Jersey based debt-collection agency (Agency) over allegations that the Agency regularly violated the FDCPA and the CFPA in the course of their collection activity.
How will Hunstein v. Preferred Collection & Mgmt. Impact The Collections Industry?
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 CFPB never said it wanted to stop collections agencies from performing their jobs.
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How To Remove Evergreen Professional Recoveries From Your Credit Report
Better Credit Blog
FEBRUARY 12, 2021
Evergreen Professional Recoveries is a legitimate debt collection agency and member of the American Collectors Association. While you may not be familiar with the agency, they collect for popular lenders and providers across several markets. Government. Credit repair companies are also pros at handling: Judgments.
How To Remove EZ Pass Collections From Your Credit Report
Better Credit Blog
FEBRUARY 12, 2021
Instead, you should use one of the strategies below to ensure that EZ Pass Collections gets removed ASAP. How Does EZ Pass Collections Work? When you skip out on paying a toll and the government is unsuccessful at trying to collect payment from you, your fines will be turned over to collections. Foreclosure.
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COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)
Burr Forman
DECEMBER 4, 2020
With new and impending changes in both the economic and political landscape, financial institutions have had to adapt to ever-changing policies governing consumer loan servicing and debt collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.
How To Remove Penn Credit from Your Credit Report
Better Credit Blog
OCTOBER 5, 2020
Penn Credit might pop up on your credit report under a few other names, such as: CBE Collections. Penn collection agency. Thankfully, you can get a collection off your report pretty easily. Try out one of the approaches below, and you could be collections-free in a few weeks. Who Does Penn Credit Collect For?
Troutman Pepper Weekly Consumer Financial Services Newsletter
Troutman Sanders
MARCH 14, 2023
The issue spotlight outlines how governments often choose to deliver public benefits through financial products, particularly prepaid cards, that may subject recipients to high fees and cut into the amount of funds the consumer receives. government. For more information, click here. For more information, click here.
Troutman Pepper Weekly Consumer Financial Services Newsletter
Troutman Sanders
MARCH 6, 2023
The issue spotlight outlines how governments often choose to deliver public benefits through financial products, particularly prepaid cards, that may subject recipients to high fees and cut into the amount of funds the consumer receives. government. For more information, click here. For more information, click here.
Medical Debt Collection Harms Patient Finances
Collection Industry News
JULY 6, 2021
We will reevaluate our situation once (the federal government) declares we are no longer in a pandemic,” said Tom Russell, a spokesperson for UW Health, which stopped such lawsuits in late March 2020. million in medical debt over the three years, receiving judgments in 4,110 cases. million in 932 cases and received judgments in 751.
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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter
Troutman Sanders
JUNE 28, 2021
Department of the Treasury released guidance in the form of updated frequently asked questions (FAQs) and fact sheet to continue supporting the rapid deployment of emergency rental assistance by states, territories, localities, and tribal governments. On June 25, multiple collection agencies and other plaintiffs filed suit in the U.S.
Short Sales and Bankruptcy
Sawin & Shea
AUGUST 4, 2021
Because a short sale is such a complicated process, you are advised to work with a bankruptcy attorney who understands the complexities of cases like this and who can protect you against a deficiency judgment or other liabilities that may pertain after the sale. What if you file for Chapter 7 bankruptcy? We are here to help.
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Why Every Lawyer And Client Should Be Fighting To Stop The "Meaningful Attorney Involvement" Doctrine From Spreading
FDCPA Defense
APRIL 17, 2019
The attorney gets to decide, in consultation with the client, and based on the attorney’s professional judgment, what to review and how long to review it before sending a demand letter. Instead, the letters had been mailed by collection agencies that had used an attorney’s letterhead in a misleading fashion. In Clomon v.
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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter
Troutman Sanders
SEPTEMBER 7, 2021
As a result, many of the 16,000 SUNY students taken to court in the past eight years have had default judgments entered against them because they were unable to make their court date. For more information, click here. For those interested in reading the full announcement, click here.
The Slow Demise of Recent Collection Letter Overshadowing Claims
Collection Industry News
SEPTEMBER 28, 2020
Of these 15 decisions: 14 were in New York, 1 was in New Jersey; 12 were decided on a motion to dismiss; 1 was decided on a motion for judgment on the pleadings; and. 2 were decided on motions for summary judgment. In all but one decision, the debt collector succeeded on either a motion to dismiss or a motion on the merits.
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40 Debt Collectors: Avoid These Three Mistakes!
National Service Bureau
DECEMBER 9, 2015
Read on to learn about trending items, and the hosts recommendations for collection agencies to avoid these pitfalls! As you may or may not know, there are additional considerations that govern military members and debt collections. Race-based bias in collection activities. That’s not an insignificant number!
DEBT COLLECTION INDUSTRY DEEMS ITSELF ESSENTIAL TO “FINANCIAL HEALTH” OF CONSUMERS, FIGHTS COVID-19 SHUTDOWN
Collection Industry News
JULY 20, 2020
Chicago Mayor Lori Lightfoot this week similarly announced an end to the collection of city debt, including late parking fines, through at least April 30. The momentum has reached the federal government. ACA International is also couching its opposition to a moratorium on debt collection as beneficial to consumers.
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