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Collection Industry News
SEPTEMBER 8, 2020
Entities are performing debt collection activities. Debt collection means requiring debtors to pay creditors outstanding due or overdue amount or property as obligated by a contract or by a decision of a competent State’s authority. In addition to debt collectors operating under Decree No.
UK debt collections
JUNE 11, 2021
The Debt Collection Agency spuriously claimed to be able to collect debts from liquidated companies. Global Investigations and Recoveries Ltd would contact creditors of liquidated companies. The company had contacted many businesses, offering their services.
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Credit Management Company
JULY 14, 2021
Preferred Collection and Management Services, Inc. and what it could mean for the debt collection industry. The debt collection company electronically sent the following information to its third-party vendor: The consumer’s name and address. Name of the creditor. Background on This Case.
Better Credit Blog
APRIL 3, 2022
Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts. In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss. How Portfolio Recovery Associates Works.
Better Credit Blog
APRIL 1, 2022
If you’re unable to pay your original creditor, your debt may pass to a debt recovery agency, earning a collection letter and possibly a stain on your credit report. It’s perfectly legal and proper to make this request, generally called a Debt Validation Letter. The company may lack data related to the debt.
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. Compare Costs.
Troutman Sanders
MAY 2, 2023
On April 27, Federal Trade Commission (FTC) Chair Lina M. On April 26, the CFPB issued an advisory opinion, reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act.
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