True Accord

FEBRUARY 3, 2022

With digital lending via neobanks and fintechs on the rise, consumers have more options than ever for obtaining loans. Lending institutions will inevitably have loans that go into default, and this is planned for in their financial modeling. What are “good” roll rate ranges in debt collections?

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Direct Recovery

SEPTEMBER 2, 2021

In most cases, just a few simple tweaks can make a drastic improvement in your score, which can open up a world of options when you sit down to discuss the credit card, auto loan, or home mortgage you are interested in acquiring. Another common problem that holds down credit scores is accounts that have fallen into collections.

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Taurus Collect

JANUARY 20, 2023

Some debt collection companies have been accused of using aggressive tactics to collect money from consumers even when they aren’t able to pay back what they owe. Overview of Credit Report Information Debt Collectors Look For When it comes to credit reporting and debt collection, debt collectors look for a lot of information.

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Credit Corp

MAY 4, 2021

Rent payments Utility bills Cable, internet or cellphone bills Insurance payments Car payments Mortgage payments Student loan payments Credit card payments Medical bills. In general, car payments, mortgage payments, student loan payments and credit card payments are often reported to the bureaus. Apply for a credit builder loan.

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Taurus Collect

FEBRUARY 1, 2024

The legal framework governing their actions varies from country to country, with rules specifying how and when they can contact debtors, what they can say, and the measures they can take to collect the owed amount. In the UK, debt collection companies operate under strict regulations set forth by the Financial Conduct Authority (FCA).

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Taurus Collect

MAY 4, 2022

Some top-notch debt collector professionals specialize in matters associated with personal loans, credit cards, and remission of payment. The latter is often considered a popular alternative as it offers a no-win, no-fee principle , while the former follows a fixed and straightforward approach regardless of the collection amount.

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True Accord

JANUARY 5, 2022

Collections-as-a-Service offering is seamlessly integrated to service customer debt accounts while delivering consumer-friendly, digital-first experiences. Through an API integration, TrueAccord’s Recover debt collection solution will service charged-off debt accrued through Synapse’s lending platform. LENEXA, Kan.,

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Troutman Sanders

DECEMBER 7, 2020

Midwest Recovery Systems (“Midwest Recovery”), a debt collection company, must cease its alleged debt-parking practices, delete all reported debts, and surrender its remaining assets in partial payment of a $24.3 million monetary judgment, under a stipulated order filed by the Federal Trade Commission (“FTC”) last week.

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Sawin & Shea

JULY 20, 2022

Businesses or individuals who collect debts on behalf of others are known as debt collectors. The majority of debt collectors work for reputable collection companies. Doctors, hospitals, shops, mail-order businesses, and occasionally banks and loan firms all use collection agencies.

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Taurus Collect

MAY 2, 2022

However, understanding the actual issues and their origin with the assistance of a well-experienced debt collecting company will help you avoid major financial problems while enabling you to focus on your business’s growth. Keep cash flowing. Manage growth.

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UK debt collections

MARCH 16, 2022

Whilst a large percentage of that debt is loans in repayment but still a significant proportion is unrecovered debts. A Business should seek out a Professional Company with accreditations and a a proven track record of delivering a quality service over a long period of time. An example of this is highlighted by Volkswagen’s €217.3

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Troutman Sanders

SEPTEMBER 7, 2021

According to the complaint, “FCO and Sobota operate the largest debt collection company in the multiunit housing industry, and they collect debt on behalf of large apartment complexes, including student and military housing, and assisted-living facilities.” District Court for the District of Maryland.

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Collection Industry News

MARCH 7, 2022

Medical debt, unlike a mortgage or car loan, is often incurred involuntarily. Credit reports and scores are used by lenders to determine if you qualify for a loan, and what interest rate you pay. Of particular concern, the report said, is that collection agencies may be reporting inaccurate data to the credit bureaus.

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Better Credit Blog

AUGUST 7, 2020

If you forget to pay a bill, you may begin to hear from a debt collection agency called Credit Control Corp. Credit Control Corp is a debt collection company that collects payment on your debt on behalf of the original creditor. What is Credit Control Corporation? Make sure that you are honest and polite in your letter.

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National Service Bureau

JUNE 10, 2015

Choosing the right debt collection agency is an important decision that can have both positive and negative repercussions for your business. With that in mind, here are three tips to choose the right collections company to manage your accounts receivable. Research the Company. Are they licensed and do they need to be?

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Better Credit Blog

OCTOBER 2, 2020

Being pursued by Aargon Agency Inc will be accompanied by a collection account on your credit report and a drop in your credit score. This is because collection accounts on your credit report can have a significant impact on your score for up to seven years. You may even be turned down for loans and credit cards because of it.

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Better Credit Blog

SEPTEMBER 8, 2020

If you begin to hear from a debt collection agency called Pioneer Credit Recovery, it is likely because you have defaulted on a loan or forgotten to pay a bill. In addition to showing up on your call logs, they will also appear on your credit report as a collection agency. What Is Pioneer Credit Recovery?

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Better Credit Blog

SEPTEMBER 11, 2020

Also known as Collection Company of America, EOS CCA is a large collection agency that currently employs about 6,000 employees. They collect a variety of debts including those from banks, telecommunication companies, student loan providers, college and universities, and more.

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Credits Inc

SEPTEMBER 20, 2019

7,837 debt collection companies. That being said, there is still a significant need for agencies that can help creditors collect on delinquent debts. Sources of information they will use include public records databases, utility bills, criminal background checks, loan applications, credit reports, and even job applications.

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Better Credit Blog

AUGUST 21, 2020

MRS BPO LLC is a medium-sized debt collection agency based in Cherry Hill, NJ. They were originally founded in 2007, which makes them a relatively new debt collection company. MRS BPO LLC collects on behalf of a number of industries, including health care, credit cards, auto loans, telecom, and utilities.

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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. But it’s especially frustrating if your debt is several years old.

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Collection Industry News

DECEMBER 1, 2022

“A collection agency is a company that is hired by lenders, creditors, medical providers and federal and local governments to get you to pay or make arrangements to pay what you owe them,” Eweka tells Select. Rent, student loans and tax debts are other examples of what can get passed on to a collections agency.

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Better Credit Blog

NOVEMBER 24, 2020

If you have had an overdue bill move to collections, you may begin hearing from a company called ACS Inc. ACS Inc is a collection agency that works with lenders and creditors to recover payments on defaulted loans or unpaid bills. This will make lenders and creditors unlikely to make you loan offers down the line.

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Better Credit Blog

APRIL 3, 2022

Having a debt collection company on your credit report could pull down your credit score by as much as 100 points — if you had excellent credit to begin with. Steps To Remove Portfolio Recovery Associates (PRA Group) From Your Credit Report. Borrowing money will become more difficult.

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Collection Industry News

JUNE 14, 2021

The 2019 stipulated judgment also required a MacKinnon business associate, Mark Gray, and his company Delray Capital LLC, to pay $10,000 toward a $6 million judgment against them, and banned them from the debt collection industry. Gregory MacKinnon, Angela Burdorf, Joseph Ciffa. million to settle the case.

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Better Credit Blog

SEPTEMBER 30, 2020

Collections accounts like these on your credit report are damaging to your credit score and can prevent you from being approved for loans and credit cards down the line. If you are interested in learning how to remove a AAA Collections collection entry from your credit report, check out our full how-to guide below.

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Better Credit Blog

SEPTEMBER 14, 2020

Having collection accounts on your credit score is incredibly damaging to your credit health. Future lenders are able to see any collection accounts on your credit report and can deny you loans based on your history. For more information on Waypoint Resource Group and how to deal with them, check out our in-depth article below.

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Better Credit Blog

FEBRUARY 17, 2021

Fidelity National Collections is a medical debt collection company that works on behalf of healthcare providers to recover unpaid balances. Apart from their calls and letters, Fidelity Collections can have a detrimental effect on your credit score. About Fidelity National Collections.

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Firms

FEBRUARY 19, 2016

For some of us, we went into debt in the first place because there was a form of an emergency that we were not prepared or financially equipped to handle at the moment and the way of handling the financial burden was to use a credit card or take out a no-interest loan that later became impossible to pay off in time.

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Better Credit Blog

SEPTEMBER 18, 2020

If you are trying to qualify for a mortgage or other loan, this is typically seen as a good reason for deletion. As its name suggests, a pay-for-delete agreement involves paying the collection company for the debt to have their collections entry deleted from your report.

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Better Credit Blog

APRIL 1, 2022

Between now and then, however, you’ll have a harder time getting good credit card interest rates, taking out an affordable car loan, or buying or refinancing your house. A third-party collection account on your credit report can knock a big hole in your credit history. The better your credit, the more you have to lose.

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FDCPA Defense

JANUARY 28, 2012

A collection company will generally be held liable for its employees’ FDCPA violations, using principles of respondeat superior, if the violations occurred within the course and scope of their employment. 2000) (“[T]he debt collection company answers for its employees' violations of the statute. See Wadlington v.

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FFGN COLLECT NY

JANUARY 31, 2024

That would include pursuing a Debt collection company that acts deceptively and fraudulently. Some Debt collection companies act wrongly and engage in Fraudulent and deceptive behaviors. The debt came from high-interest personal loans, payday loans, credit cards, and other sources.

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Troutman Sanders

JANUARY 20, 2022

Department of Education’s decision to extend the pause on federal student loan payments. On January 10, the CFPB announced that it sued several debt-collection companies and their owners for illegal debt-collection practices. For more information, click here. For more information, click here. paid to the states.

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Troutman Sanders

MAY 2, 2023

PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels. On April 26, the FTC, the commonwealth of Pennsylvania, and debt collection company International Credit Recovery, Inc. Dollar (USD) LIBOR after June 30.

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Troutman Sanders

JULY 11, 2023

Department of the Treasury (Treasury) launched an inquiry into specialty financial products, such as medical credit cards and installment loans, that consumers can use to pay for medical care. million to consumers who were allegedly charged illegal fees to reduce or eliminate their federal student loans.

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Collection Industry News

JANUARY 19, 2021

Yet the federal government’s Paycheck Protection Program last year also gave the company a helping hand: It provided $2.4 million in forgivable loans to Capio and an affiliated firm, the Law Office of Mitchell D. More than half of small-business loans went to larger businesses, new SBA data shows.

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