Credit Corp

JUNE 14, 2020

The most common cases of zombie debt involve collection activities. Here’s one example of how a zombie might rise with help from a collection agency. The original lender or collection agency fails to collect within the statute of limitations. That can include wage garnishment or levies.

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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. Credit Collection Services, known as CCS for short, is one of the largest debt collection agencies in the United States, based in Massachusetts.

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Sawin & Shea

JUNE 9, 2021

You may feel as if no one is on your side, but you do have some protection from collection agencies. The FTC makes sure that the FDCPA (Fair Debt Consumer Protection Act) is followed by collection agencies. There are approximately 7,000 collection agencies in the U.S. There are approximately 7,000 collection agencies in the U.S.

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Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss. Ask Lex Law for Help.

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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. Let’s use our beloved Pres. or after 9 p.m.,

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Credit Corp

JUNE 14, 2023

A charge-off is when the creditor officially writes your debt off its books as a loss. Keep in mind that a creditor writing off your unpaid debt as a loss doesn’t mean you don’t owe the debt. Your creditor may sell your charged-off debt to a collection agency for pennies on the dollar.

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Debt Collection Answers

MAY 18, 2023

Like all other debt collectors, DNF Associates, LLC depends on multiple sources of information to pursue debt collection. A default judgment enables DNF Associates, LLC to seize your bank account, garnish your wages, and take other damaging legal actions against you.

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Better Credit Blog

APRIL 1, 2022

If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. In fact, they are a multifaceted company that can be a part of the debt collection process in the early stages (pre-charge of recovery) or the post-collection stage.

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Credit Corp

JULY 20, 2020

When you miss too many payments, your creditor may charge off the debt. A charged off debt can lead to harassing phone calls, garnished wages, and a major drop in your credit score. A charge-off occurs when you don’t pay the full minimum payment on a debt for several months and your creditor writes it off as a bad debt.

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Credit Corp

AUGUST 24, 2020

When you’re trying to conquer unpaid debts sent to collections, you’ll likely face some obstacles. Once you’ve accomplished these tasks, you may still be wondering how to pay collections to a debt collection agency. Find out how to pay collections below. Use that during negotiations with creditors.

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The McHughes Law Firm

JULY 12, 2016

It’s important to respond to any communications and document each step of the process when resolving your outstanding debt through a debt collection attorney. Because of their involvement in collecting money you owe a creditor, you may be contacted via a phone call or a letter from a debt collection attorney.

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Collection Industry News

DECEMBER 1, 2022

The hiatus that some states and companies put on debt collection activities at the height of the pandemic has largely ended, and debt collectors have resumed business as usual. Oral confirmation can validate the debt or extend the statute of limitations for collections, says Jamie Hopkins, managing partner of wealth solutions at Carson Group.

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Debt RR

DECEMBER 13, 2019

When faced with mounting debt, it’s inevitable that someone will come to collect. When courts get involved, debt collection gets serious. Creditors usually send several notices prior to filing a complaint with the court. There are two other conditions that must be met for a creditor to serve papers on a debtor.

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