Account Recovery

OCTOBER 12, 2022

The Attorney General of North Carolina has announced a consent judgment with the president and chief executive officer of two debt collection companies — and the companies, as well — that will see the forgiveness of $23 million in unpaid debts, $225,000 in restitution to consumers, and nearly $30,000 in fines and legal costs after … (..)

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Firms

MARCH 25, 2016

At FIRMS we realize that some of our potential clients have never worked with a debt collection company before. When to hire a collection agency. Most companies send accounts to a collection agency when they are between 90 and 120 days past due. FIRMS is that debt collection company that will work best with you!

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Account Recovery

OCTOBER 14, 2022

In what feels like a “three people who have never been in my kitchen” claim, a District Court judge in Pennsylvania has granted a motion to dismiss filed by two debt collection companies that were sued for allegedly violating the Fair Debt Collection Practices Act and the Fair Credit Reporting Act, on the grounds that … The post Lack (..)

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Fair Debt Collection Collection Companies Collections 246

Account Recovery

SEPTEMBER 21, 2022

The Attorney General of Massachusetts yesterday announced a $12 million settlement with a debt collection company yesterday that was accused of a number of violations, such as collecting on debts without sufficient proof that the debts were valid, violating state law limiting the number of calls that could be made to collect on a debt, … The (..)

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Collection Companies Collections 245

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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Account Recovery

JANUARY 26, 2022

Jan 25, 2022 — TrueAccord Corporation, a debt collection company offering machine learning-powered digital recovery solutions, today announced results following the September 2021 rollout of Retain, the client-branded product that addresses early-stage recovery challenges for organizations with customers with delinquent accounts.

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Creditors Collection Companies Collections 246

Account Recovery

NOVEMBER 24, 2021

The Attorney General of New York announced yesterday a settlement with three debt collection companies owned by Andrew Fanelli that will permanently ban them from any future debt collection activities while also paying $1.2 million in fines and restitution to individuals impacted by the collectors’ tactics.

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Account Recovery

SEPTEMBER 29, 2021

A debt collection company based in Atlanta and its owners have been permanently banned from the industry and will pay $266,000 out of a $3 million penalty under the terms of a settlement announced by the Federal Trade Commission, which had sued the company and its owners for threatening to have consumers arrested and imprisoned … The post Debt (..)

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Enterprise Recovery

FEBRUARY 18, 2022

We do our best to recover what's owed to hard-working companies so they can retain working capital and continue their successful business ventures. We also educate on the best practices required to collect those debts before turning to a professional debt collections company.

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Collections Collection Agencies Collections Agency Collection Companies 219

Account Recovery

AUGUST 3, 2021

Lenexa, KS – August 3, 2021 – TrueAccord Corporation, a debt collection company offering digital-first and consumer-centric solutions for resolving debts, today announced changes to its executive leadership team to support a planned expansion of products and services.

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Collection Companies Collections 246

Enterprise Recovery

AUGUST 19, 2022

As a business owner or accounts receivable specialist, you may have some fear around sending an account to a debt collections company. You may also have heard some really bad things about debt collections.

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Account Recovery

SEPTEMBER 16, 2021

InDebted, an Australian debt collection company that is expanding globally, including here in the United States, was already known for doing things differently. Focused on a digital-first approach to collections and eschewing phone calls, InDebted entered the U.S. earlier this year through the purchase of Delta Outsource Group.

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Collection Companies Collections 233

Account Recovery

APRIL 5, 2021

Federal prosecutors who are investigating the owner of several debt collection companies that allegedly engaged in illegal collection activities are seeking the forfeiture of more than $90,000 that was seized from the owner’s home by armed agents last year, according to a published media report.

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Collection Companies Collections 221

Account Recovery

SEPTEMBER 9, 2020

A number of debt collection companies, alleged to have been operating as one common enterprise, along with the principals and managers of the companies have been sued by the Attorney General of New York and the Consumer Financial Protection Bureau, for allegedly violating the Fair Debt Collection Practices Act, the Consumer Financial Protection Act, (..)

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Fair Debt Collection Collections Collection Companies 211

Account Recovery

FEBRUARY 3, 2021

Hospitals across the country are using century-old lien laws to increase their revenue when treating victims of accidents, such as car crashes, by bypassing the discounts that are normally provided to health insurance companies, according to a report in The New York Times.

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Collection Companies Collections Healthcare 173

Account Recovery

MAY 26, 2021

A District Court judge in New Jersey has cited the principal of a debt collection company for contempt of court for failing to respond to a proposed class action lawsuit and pay a default judgment of $7,671.50

Fair Debt Collection 147

Fair Debt Collection Judgment Collection Companies Collections 147

Account Recovery

OCTOBER 1, 2020

The Attorney General of New Mexico announced yesterday his office has filed three lawsuits against debt collection companies, accusing them of making misrepresentations about debts, engaging in abusive practices, and forcing individuals to make payments on non-existent debts The lawsuits, filed against LVNV Funding, Central Mediation Services,and Capio (..)

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Collection Agencies Collections Agency Collections Collection Companies 147

Consumer Finance

MAY 22, 2022

The judgment would order all participants in the scheme, based in upstate New York, to exit the debt collection market after their history of deception and harassment. Their debt collection companies would also be shuttered and required to pay a total of $4 million in penalties.

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Collections Judgment Collection Companies 125

Taurus Collect

JANUARY 24, 2023

But while it can be exciting to think about that refund cheque hitting your bank account soon, there’s another equally pressing reason why you should pay attention this tax season – debt collection! These companies typically employ several tactics in order to recover debt, including phone calls, emails, letters, and even legal action.

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Troutman Sanders

AUGUST 31, 2023

According to the CFPB, the defendants employed the same business model, i.e., purchasing portfolios of defaulted consumer debt and then placing the portfolios with other debt collection companies. The complaint went on to allege that the debt collection companies used unlawful tactics to collect the unpaid debt.

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Debt collector Fair Debt Collection Consumer Credit Collection Companies 52

Consumer Finance

JANUARY 10, 2022

The debt collection company and its owners knowingly used third-party collectors that engaged in unlawful and deceptive tactics.

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Collections Collection Companies 103

Troutman Sanders

SEPTEMBER 12, 2023

PRRS), a collection company, was accused of violating the Colorado Fair Debt Collection Practices Act (CFDCPA) by allegedly illegally collecting or attempting to collect on parking fines that were already paid or were incurred by another vehicle owner. Parking Revenue Recovery Services, Inc.

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Debt Recoveries

JULY 23, 2023

The availability of cutting-edge equipment and technology is another significant benefit of outsourcing debt collection. Modern software systems, which debt collection companies invest in, expedite every step of the process, from recording and monitoring debts to producing automated reminders and reports.

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Collections Debt Recovery Debtor Collection Companies 52

Nexa Collect

JANUARY 12, 2022

There are well-defined debt collection laws, both at the federal and state level, that prohibit debt collection companies from using abusive, unfair or deceptive practices to collect debts: A typical fine – $1000 per debtor.

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Collection Agencies Collections Agency Debt collector Debtor 130

Brown and Joseph

JANUARY 7, 2021

Brown & Joseph/Altus, the leading commercial collections company in the U.S., is pleased to announce that Mike McClellan has joined the team as Vice President… The post Brown & Joseph Welcomes Mike McClellan appeared first on Brown & Joseph, LLC.

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Commercial Collection Collection Companies Collections 98

Brown and Joseph

AUGUST 3, 2020

ITASCA, IL – Brown & Joseph / Altus, the leading Commercial Collections company in the U.S., is very pleased to announce that Ellen Reinhardt has joined… The post Brown & Joseph Welcomes Ellen Reinhardt appeared first on Brown & Joseph, LLC.

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Commercial Collection Collection Companies Collections 98

Debt Recoveries

MAY 14, 2023

Reputable debt collection professionals usually operate on a “no win-no fee” basis, and some even offer free legal letters of demand. Reason #2 – Outsourcing to a debt collection professional increases the recovery rate of outstanding debts.

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JMA

SEPTEMBER 19, 2022

It takes great skill to collect debt efficiently. This is one of the many reasons choosing to seek the assistance of a debt collection company like us is worth it. To protect your business and the customer, you must navigate a number of legal minefields.

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Collection Industry News

OCTOBER 17, 2022

On October 10, the North Carolina attorney general announced a consent judgment with the president and CEO of two debt collection companies (collectively, “defendants”). According to the AG, in 2019, the AG sued the defendants for allegedly engaging in illegal debt collection practices.

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Qualco

JULY 13, 2021

What debt counsellors and consumer protectors described as “long overdue” poses massive economic challenges for many debt collection companies in Germany. Because, while the law means a considerable cost saving for debtors, debt collection companies have to reckon with noticeable losses of income in carrying out their activities.

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Taurus Collect

OCTOBER 21, 2022

Most savvy collection agency leaders will always have a plan before tax season that includes proper training and staffing to handle greater call center volume. An efficient tax-season debt collection strategy involves an upsurge of efforts. Timing and Modification. Flexibility.

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Collections Debt collector Debtor Collection Agencies 52

Taurus Collect

OCTOBER 20, 2022

While the traditional approach to debt collection has improved over time, some business owners still overlook the importance of credit technology implementation. How Digital Debt Collection Drives Success? Do you want to incorporate the right digital debt collection strategies into your collection processes?

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True Accord

NOVEMBER 8, 2022

8, 2022 — TrueAccord Corp , a debt collection company using machine learning-powered digital recovery solutions to improve consumer experience, today announced it joined the Visa Fintech Partner Connect program. LENEXA, Kan., Through Visa Fintech Partner Connect, TrueAccord is Visa Ready certified.

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American Profit Recovery

DECEMBER 8, 2020

And there is no doubt that when a consumer receives a written communication or a phone call from a debt collection company, it presents some urgency in their minds, and in many cases, it gets paid. Sometimes we find that it was just an oversight with your customer or a dispute that can be resolved with a phone call.

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Public Citizen

SEPTEMBER 28, 2021

An Atlanta-based debt collection company and its owners will be permanently banned from the debt collection industry under the terms of a settlement with the Federal Trade Commission. The FTC's press release is here.

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CSA

NOVEMBER 11, 2020

Debt collection companies who are members of the Credit Services Association (CSA) are signed up to an industry Code of Practice , designed to ensure that customers can be helped along the road to becoming debt free. CSA members always put customers at the heart of everything they do. Once you have engaged, you?ll

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True Accord

JULY 2, 2020

In our upcoming report, Consumer Debt in the Age of COVID-19, we use this data to review consumer repayment trends, the role of stimulus checks in that process, and what debt collection companies will need to do to adapt. Here’s what you can expect from the report: Pre-coronavirus payment insights.

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