Credit Management Company

FEBRUARY 22, 2022

The average American has over $90,000 of debt , and many struggle to manage this number. Therefore, many people find themselves encountering collection agencies at one point or another. Unfortunately, much of what people “know” about the debt collection industry relies more on myths than facts.

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Nexa Collect

MARCH 22, 2022

By law, all debt collectors are required to provide at least 30 days to the debtor/consumer to dispute the debt, after the consumer receives (or is assumed to receive) the validation information. Most collection agencies will add about additional 2 weeks to account for mailing delays and holidays.

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Nexa Collect

FEBRUARY 14, 2022

By law, all debt collection calls initiated by a collection agency must be recorded and preserved for three years after the date of the call. The primary objective is to check if there was a violation of debt collection laws (FDCPA laws), and those recordings can be reviewed if there is a need. .

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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? The answer might not be that simple.

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Debt RR

AUGUST 3, 2020

Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Calls from a commercial debt collector can create an enormous amount of stress for many business owners. What Do Commercial Debt Collection Agencies Do?

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Credit Corp

AUGUST 31, 2021

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. Can a debt collector collect after 10 years, for example?

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Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. For this reason, creditors are hiring debt collection agencies to collect debts that are 60 days past the agreed period. government collection agency.

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Credit Corp

OCTOBER 16, 2023

Debt collectors send debt validation letters show what debts you owe, the amount, and to whome you owe it to. While a debt collector contacting you can be stressful, it’s important to pause and remember your rights as a debtor. Before paying the debt collector, verify that the debt is actually yours.

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Taurus Collect

MARCH 8, 2022

Debt collection is a legitimate business that can involve challenging & confusing issues. Debt collectors typically work with debt-collection agencies, though some may operate independently. Below mentioned are some of the typical debt collection queries that we aim to answer for you.

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Taurus Collect

MARCH 7, 2022

Debt collection is the approach of pursuing payments of debts owed by different entities (individuals or businesses). It occurs when a collection agency or a company attempts to collect past-due debts from borrowers. How do debt collectors work? What is the process?

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Taurus Collect

JUNE 13, 2022

The debt collection process involves recovering debts from the borrower who has initially failed to repay or recover payments on accounts that are past their due date. When asked about “what collection agencies do?”, However, having a debt collection agency by your side serves you great help.

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Credit Corp

SEPTEMBER 12, 2023

When a lender doesn’t receive payments for a line of credit, like a credit card or personal loan, they may choose to eventually sell that credit to a debt collection agency to get some of their money back. So if you have a debt in collections, your credit score has likely taken a dip. Here’s how to do it.

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Taurus Collect

JUNE 16, 2022

Debt collection is a process that gives debtors certain rights that debt collection agencies must respect. While the debt shown in the collection can negatively impact your credit score, the severity of the impact reduces over time. What does it mean to have debt in collections?

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Taurus Collect

OCTOBER 30, 2023

This knowledge can help businesses choose the most appropriate course of action, which may include hiring a debt collection agency. Consumer Debt Collection: This involves the collection of personal debts owed by individuals, usually to banks or credit card companies.

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Taurus Collect

MAY 11, 2023

If you have ever had to deal with credit card debt, you know it can be stressful. Debt collectors call at all hours of the day and pressure is put on borrowers to quickly make payments in full. The process begins when the debtor stops making payments on their credit card and goes into default.

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Credit Management Company

AUGUST 9, 2022

A statement that unless the consumer disputes the debt within 30 days of receipt it will be assumed to be valid by the debt collector. A statement that the debt collector will provide to the consumer, within 30 days, the name of the original creditor if different than the debt collector.

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The Kaplan Group

JANUARY 19, 2021

This is the federal law that protects consumers from being harassed by debt collectors. As we’ve mentioned before, the law applies only to consumer debt, not businesses. The law also only applies to outside debt collectors, not companies who are owed the money for product or services they provided.

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National Service Bureau

SEPTEMBER 2, 2015

If you’re a collection agency or creditor in New York, you need to be keeping an eye out for Senate Bill 3803. This bill was introduced to the state senate in February of this year, and the crux is that if approved, debt collectors would be prohibited from using social media to contact debtors.

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Collection Industry News

SEPTEMBER 8, 2020

THE Fair Debt Collection Practices Act (FDCPA) is a federal law that was enacted in 1978 by the United States Congress to protect consumers from abusive debt collectors. Note, however, that the FDCPA applies only to third party collectors who collect debt for original creditors.

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PDC Flow

OCTOBER 20, 2020

If you previously had consent (for example to the phone number that was provided to the original creditor), and that consent is withdrawn, it was likely done in an attempt to set up an action under the Telephone Consumer Protection Act. However, she says some consumers become or remain upset regardless of how polite a collector may be.

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National Service Bureau

JULY 21, 2015

For instance, the law broadened the definition of collection agencies and debt collectors, increased civil penalties (minimum of $500, max of $4000 per violation), and restricted the ability of collectors and debt buyers to file suit against a consumer. off payments or credits (where applicable), the charge?off

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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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FDCPA Defense

NOVEMBER 11, 2014

It is impossible to catalogue the manifold ways, some subtle and some not, in which a debt collector may attempt to circumnavigate section 1692g.” 1989) (“The statute is not satisfied merely by inclusion of the required debt validation notice; the notice Congress required must be conveyed effectively to the debtor.

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FDCPA Defense

JANUARY 28, 2012

Lawyers and agency owners are being sued based on the conduct of their clients and their collectors. Even original creditors, who are not subject to the FDCPA, are being drawn into FDCPA litigation under various theories of recovery. How can debt collectors avoid liability for the conduct of others?

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