Troutman Sanders

JUNE 28, 2021

The new law limits a collection agency’s ability to collect on medical debt. The proposed amendments include changing the definition of medical debt, allowing medical debtors to initiate contact and make voluntary payments, and preventing certain written communications from being sent via certified mail.

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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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Consumer Financial Services Law

MARCH 30, 2020

In a related move, the Department of Insurance invoked statutory powers which require collection agencies and others licensed and regulated by the Department of Insurance to offer their customers the option to defer debt payments. The DOI Order notes the emergency conditions in the state and invokes the provisions of N.C.

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Debt Collection Answers

MAY 18, 2023

This is Caine and Weiner, a collection agency. However, it’s worth remembering that Caine and Weiner may only sometimes possess the debt they are attempting to collect. Initially, the company provided collection services for the garment industry, which was prominent in the area then.

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BN Lawyers

OCTOBER 23, 2020

The Donald Kramer award is given each year to “someone whose efforts have made a substantial and lasting impact for the benefit of the credit and legal collection community.”. s Consumer Financial Service Law Practice Group. Suttell currently serves as an attorney with Barron & Newburger, P.C.’s Barron & Newburger, P.C.

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Consumer Financial Services Law

APRIL 25, 2020

Additionally, in response to the number of questions posed with respect to the obligations of collection agencies and others licensed by the North Carolina Department of Insurance, the Department has now published a list of FAQs. Instead, it is "up to the customer" to contact the collection agency to discuss options.

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Better Credit Blog

JULY 7, 2020

The agency could also be contacting you by mistake, which can be exceptionally frustrating as debt collection agencies are notorious for their repeated phone calls. Whatever the case, having a collections account on your credit report can result in incessant phone calls, letters, and a lower credit score. Commercial.

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Fico Collections

MAY 19, 2021

From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. What Is First-Party Fraud? by Matt Cox.

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Fico Collections

MAY 19, 2021

Furthermore, you might automatically assume that first-party fraud only affects banks, but as telcos evolve into payment processing and handset financiers, they also are now feeling the pinch. Debt collection agencies (DCAs) are leaking more profits and costs, too, trying to collect on something that isn’t recoverable.

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Consumer Financial Services Law

DECEMBER 12, 2016

Creditors and debt collectors who utilize pre-collect practices should pay close attention to a recent opinion from the Eastern District of Michigan. 1, 2016), the collection agency agreed to provide the creditor with demand letter services which involved a series of three letters per debt account. In Parker Burns v.

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Fico Collections

SEPTEMBER 19, 2022

These rules require the debt collectors and recoveries staff to—if non-complaint—make significant changes on how and when they can communicate with debtors. As we emerge from the COVID-19 pandemic, we are seeing the normalization of the surge in digital banking products and services that was prevalent over the last two years.

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Fico Collections

JANUARY 26, 2022

While Government will likely take a hand in directing the pace of some collection activities, others will be determined by the debt holder. Collection agencies will likely be busier than ever as more debt holders assign debts to agencies. Agencies will face challenges when consumers owe from many different sources.

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Collection Industry News

JANUARY 19, 2021

who represents debtors in collection cases. The government loans to debt collectors essentially finance “debt collection against people who already are dealing with a global pandemic.”. Consider, for example, National Credit Adjusters, a Kansas firm that provides debt-collection services. It received $1.5

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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 Education Department is suspending collections on federal student loans and urging private collection agencies to stop pursuing borrowers.

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