Sawin & Shea

SEPTEMBER 29, 2021

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. With credit card debt specifically, debtors often wonder how the process works and how it will affect their ability to still use current cards or open new ones in the future.

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Sawin & Shea

SEPTEMBER 29, 2021

Bankruptcy is often a wise choice for those overwhelmed by credit card debt and looking to get back on track and rebuild their finances. With credit card debt specifically, debtors often wonder how the process works and how it will affect their ability to still use current cards or open new ones in the future.

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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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Better Credit Blog

APRIL 1, 2022

To remove Capital One Collections from your credit report, you first need to know who currently owns the debt. In other words, has Capital One sold your unpaid credit card debt to another collection agency, or is the debt still with Capital One? Pay to Delete the Capital One Collections.

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Credit Corp

MAY 19, 2021

Overwhelmed with debt? Whether it’s unpaid credit card debt or medical bills, you might feel like you have nowhere to turn. If you’re seriously considering uprooting your life just to avoid debt, you probably have a few questions. And can debt collectors actually follow you to another country?

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Credit Corp

MAY 9, 2023

Keep reading to learn more about what statutes of limitations on debt collection are and how they work. In This Piece What Is a Statute of Limitations on Collections? Effect of Statute of Limitations on Your Credit Report What Is the Statute of Limitations on Collections by State? Open-ended credit.

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True Accord

MARCH 5, 2024

“Growing debt balances, stubborn interest rates and elevated prices are still a thorn for consumers, and contribute to their overall financial stability,” explains TrueAccord CEO Mark Ravanesi in his Q4 Industry Insights: Cautious Optimism with a Side of Holiday Hangover.

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Collection Industry News

DECEMBER 1, 2022

Collections agencies buy your unpaid credit card debt from your card issuer when your balance lingers too long — but that doesn’t mean it goes away. When a collections representative from your credit card issuer calls you, it’s usually because you haven’t made at least the minimum payment for at least 30 days.

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Collection Industry News

MARCH 23, 2021

Court of Appeals for the Third Circuit recently held that a debt collector did not violate the federal Fair Debt Collection Practices Act (FDCPA) when it sent a consumer a collection letter inviting her to “eliminate further collection action” by calling the company, when in fact only written communication could legally stop collection activity.

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FFGN COLLECT NY

MARCH 10, 2023

Debt collection is an essential service, especially in situations where your client doesn’t pay in advance. Most, if not all, businesses will utilize a debt collection service to pursue payment owed by individuals or businesses. In New York, there are differences between commercial vs consumer debt.

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FFGN COLLECT NY

DECEMBER 12, 2023

Is there a law in NYC that protects consumers and debtors from debt collecting agencies, businesses, and their attorneys? Suppose you are under constant pressure from these agencies and their legal representatives to settle your debt. Consumers must be aware that the debt they are being collected for is valid.

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Taurus Collect

JUNE 16, 2022

Having debts in the collection primarily means that a third party is pursuing you to retrieve payments for your debts on behalf of your creditors. Debt collection is a process that gives debtors certain rights that debt collection agencies must respect. What does it mean to have debt in collections?

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FFGN COLLECT NY

JANUARY 29, 2023

Many people believe a recession would be good for the debt collection industry. They think more debt leads to more collectible debt, more collections, higher returns to clients, and increased fees to debt collection firms. Volume As the level of debt increases, so will non-payment.

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Collection Industry News

MARCH 19, 2024

“Growing debt balances, stubborn interest rates and elevated prices are still a thorn for consumers, and contribute to their overall financial stability,” explains TrueAccord CEO Mark Ravanesi in his Q4 Industry Insights: Cautious Optimism with a Side of Holiday Hangover.

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Sawin & Shea

SEPTEMBER 27, 2023

If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. Chapter 7 is the quickest and easiest way to discharge the majority of your debts through bankruptcy. Debt Collection Laws: What Can Debt Collectors Do?

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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! However, dealing with debt collectors can be intimidating if you don’t know how to handle them properly.

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Collection Industry News

JUNE 1, 2023

Introduction: The debt collection industry plays a vital role in the global economy, helping businesses recover outstanding debts and maintain financial stability. The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts.

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Albuquerque Law

JUNE 30, 2021

Many people might think that social media has nothing to do with their finances – especially when it comes to debt. Social media plays a role in increasing credit card debt. This expansion has led to several reports that social media has indeed impacted individuals’ credit card debt. Debt collectors.

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Better Credit Blog

OCTOBER 16, 2020

Have a collections entry from Asset Acceptance LLC on your credit report? If Asset Acceptance is on your credit report, it’s probably because you forgot about a bill. It’s important to deal with a collections agency like Asset Acceptance quickly. Credit card debt. Retail debt. Utility bills.

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Sawin & Shea

NOVEMBER 8, 2023

Factors like inflation, high interest rates, and economic uncertainty have found more and more Americans relying on credit cards to get by. In fact, Americans are at an all-time high when it comes to credit debt to the tune of $1 Trillion. On average, Americans individually carry about $7,951 in credit card debt.

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Troutman Sanders

APRIL 7, 2021

Candace Moyer failed to pay her credit card debt, and the account was placed with a debt collector, which sent Moyer a one-page, single-sided collection letter that stated, “If you wish to eliminate further collection action, please contact us” above a validation notice requiring disputes to be in writing.

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True Accord

APRIL 5, 2023

With uncertainties about how the end of various pandemic-era benefits will impact consumers, it’s more important than ever for creditors and collectors to implement strategies that consider consumer situations and preferences when attempting to collect. consumer credit card debt has increased to nearly $1 trillion.

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Public Citizen

OCTOBER 29, 2020

The National Consumer Law Center issued a report on the impact of debt-collection during the pandemic and state laws that help, or harm, struggling families. No Fresh Start 2020: Will States Let Debt Collectors Push Families into Poverty in the Wake of a Pandemic? Weak exemption laws also exacerbate the racial wealth gap.

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Better Credit Blog

SEPTEMBER 9, 2020

If you have been contacted by Sunrise Credit Services, you are probably being pursued for an old debt. Sunrise Credit Services is a debt collector that has been hired by your old creditor to collect payment on your debt. They may also have purchased the debt to profit off your payments.

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Collection Industry News

SEPTEMBER 23, 2020

However, over the past several years, the civil courts in most states have been overrun by debt collection cases against consumers. Some key findings from the Pew research include: • Between 1993 and 2013, the number of debt collection cases filed annually more than doubled, from 1.7 million to about 4 million.

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Collection Industry News

JANUARY 13, 2024

household debt grew by $800 million from 2022 to 2023, including a 16.6% growth in credit card debt. While the new year marks a time for new beginnings and a fresh start, millions of Americans entered 2024 with more debt and less to put in their checking and savings accounts. At the start of the year, U.S.

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Sawin & Shea

AUGUST 24, 2020

Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt.

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Albuquerque Law

JUNE 30, 2021

Many people might think that social media has nothing to do with their finances – especially when it comes to debt. Social media plays a role in increasing credit card debt. This expansion has led to several reports that social media has indeed impacted individuals’ credit card debt. Debt collectors.

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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. Therefore, the agencies act as middlemen collecting any delinquent loans.

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Better Credit Blog

FEBRUARY 4, 2021

Are you concerned about a collections entry from Delivery Financial Services? While falling behind on a payment or two might not seem like a big deal, collections-stage debt can do substantial damage to your credit. DFS is a third-party collections agency with its headquarters in Scottsdale, Arizona. Utility debt.

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Katabat

AUGUST 4, 2021

Pandemic’s “Credit Card Debt Paydown Miracle” May be Ending. Lots of people made lots of progress paying down debt and we would not have thought that at the outset of the pandemic,” said Ted Rossman, Senior Industry Analyst at CreditCards.com. 30, 2021 Effective Date for Debt Collection Final Rules.

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Katabat

AUGUST 4, 2021

Pandemic’s “Credit Card Debt Paydown Miracle” May be Ending. Lots of people made lots of progress paying down debt and we would not have thought that at the outset of the pandemic,” said Ted Rossman, Senior Industry Analyst at CreditCards.com. 30, 2021 Effective Date for Debt Collection Final Rules.

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Collection Industry News

FEBRUARY 21, 2022

In the case, the defendant was retained to collect plaintiff’s credit card debt. In doing so, it rejected defendant’s argument that only a demand for payment could be a communication “in connection with the collection of any debt.” Defendant moved for a judgment on the pleadings.

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Better Credit Blog

APRIL 6, 2022

One of the most effective ways to get negative items removed from your credit report is to pay the debt, in exchange for the creditor removing the charge-off from your credit report. With this method, you’d use your payment as leverage to convince the debt collector to help restore your credit.

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Better Credit Blog

APRIL 11, 2022

Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. In these situations, debt is considered positive mainly because your financial objective has value and long-term benefits. You may be sent to collections. When this happens, your credit score drops.

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Better Credit Blog

OCTOBER 14, 2020

When you owe money to a creditor or a service provider, it could result in a collections entry on your credit report. This type of entry can bring down your credit score for as long as seven years. A collections entry can also result in tiresome phone calls and frequent letters until you make a payment. Consumer debts.

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Debt Recoveries

OCTOBER 24, 2021

Reading Time: 4 minutes Being a debt collection agency, we often receive queries asking for advice as to how one can get themselves out of debt. It’s not always easy and sometimes, paying off debts can take years. . Talk to your Debt Collector. Write a Budget. Everything else can wait. .

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