Credit Corp

FEBRUARY 23, 2024

Dealing with zombie debt can be extremely complicated as debt collectors may repeatedly contact you about an account that belonged to you years ago. Much like the characters in a post-apocalyptic story, it’s possible to overcome zombie debt with the right know-how. How Does Zombie Debt Work?

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Collection Industry News

MARCH 8, 2021

In a coordinated effort in 2015 called Operation Collection Protection, the FTC and more than 70 law enforcement partners took 115 actions against deceptive and abusive debt collection practices. In many cases, consumers didn’t even owe the debts. Get “validation” information about the debt. Source: site.

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Troutman Sanders

NOVEMBER 20, 2023

On November 16, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Fair Debt Collection Practices Act (FDCPA) Annual Report detailing the CFPB’s 2022 activities related to debt collection practices. Of these, approximately 8,500 (or 15%) pertained to attempts to collect a medical bill.

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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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Burr Forman

MAY 20, 2021

2547 (the “Comprehensive Debt Collection Improvement Act” or “CDCIA”). Originally introduced by House Financial Services Chairwoman Maxine Waters, the CDCIA’s primary purpose is to provide additional financial protections for consumers and place restrictions on debt collection activities by amending several consumer finance statutes.

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True Accord

NOVEMBER 13, 2023

The New York City Department of Consumer and Worker Protection (NYC DCWP) just released an updated proposed amendment to its rules relating to debt collection. This means that a debt collector must first call a consumer to obtain consent before the collector could send an email message about the account.

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Collection Industry News

AUGUST 3, 2021

WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today announced that two final rules issued under the Fair Debt Collection Practices Act (FDCPA) will take effect as planned, on November 30, 2021. Nothing in this decision precludes the CFPB from reconsidering the debt collection rules at a later date.

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PDC Flow

NOVEMBER 3, 2020

The long-awaited Final Rule (Regulation F) for the Fair Debt Collection Practices Act (FDCPA) was issued Friday afternoon, concluding a seven-year rulemaking process. With this modernized debt collection rule, consumers will have greater control when communicating with debt collectors.”.

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Better Credit Blog

FEBRUARY 15, 2021

Are collections accounts weighing heavily on your credit report? If you’ve fallen behind on any of your accounts, you could find Fairway Collections on your credit report. As long as the collections entry stays on your report, it’s hurting your score. About Fairway Collections. Self-pay collections.

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Better Credit Blog

NOVEMBER 3, 2020

Have you been receiving threatening calls and letters from a company called Advanced Collection Services? You likely have an old debt hanging over your head that they are trying to collect payment on. The problem is that sometimes they get information wrong and try to collect the wrong amount or from the wrong person.

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Payment Savvy

NOVEMBER 30, 2021

In 2020, the Consumer Financial Protection Bureau (CFPB) published two rules which implement the Fair Debt Collection Practices Act (FDCPA). Suppose your company works in the field of debt collecting, such as third-party debt collection firms , collection attorneys, debt buyers, or defaulted mortgage servicers.

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Better Credit Blog

OCTOBER 30, 2020

Being contacted by a debt collector is scary. They can be aggressive and rude, and they will continue to hound you for a debt until you pay up. One debt collector you may hear from is called Global Credit & Collection Corp. They are on-par for collectors in terms of reputation and collection tactics.

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Collection Industry News

JUNE 10, 2023

The Fair Debt Collection Practices Act (FDCPA) is a federal law in the United States that regulates the behavior of debt collectors when collecting consumer debts. Educate your employees about their obligations under the law.

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Troutman Sanders

JANUARY 9, 2024

On January 2, the CFPB published a blog titled, “Holding Debt Collectors Responsible for False Statements.” CICA Collection Agency, a First Circuit case in which the CFPB has filed an amicus brief. The consumer sued to hold the debt collector accountable for the misrepresentation, but the debt collector pled ignorance.

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Better Credit Blog

FEBRUARY 2, 2021

Is BGE Collections lowering your credit score? BGE Collections is a debt collection agency. If you fell behind on power payments from Baltimore Gas and Electric Company, their collections department could contact you. Read on for our guide to getting BGE Collections out of your life and off your credit report.

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Troutman Sanders

APRIL 2, 2021

The Sixth Circuit recently confirmed student loan servicers, who begin servicing debts after default and resale, are not liable to borrowers under the Fair Debt Collection Practices Act (FDCPA) because the servicers are not acting as “debt collectors.”. On March 25, in Willison v. Nelnet, Inc. , 1692a(6).

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Better Credit Blog

OCTOBER 14, 2020

Tens of millions of Americans have collections-stage debt. So if you’ve come across a collections entry on your credit report, you’re far from being alone. While finding a collections entry on your report can be stressful, ARS’s calls, letters, and damaging effects on your credit score are simple to stop. Healthcare debt.

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Troutman Sanders

NOVEMBER 8, 2023

Last week, a district court in Nevada held that an undated, model form debt validation notice does not violate the Fair Debt Collection Practices Act (FDCPA). the defendant sent a debt validation letter to the plaintiff that followed the model form provided by the Consumer Financial Protection Bureau (CFPB).

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Collection Industry News

DECEMBER 11, 2020

On December 8, 2020, the Consumer Financial Protection Bureau (CFPB) entered into a Consent Order with RAB Performance Recoveries, LLC (RAB) for engaging in debt collection activity without a license in the states of Rhode Island, Connecticut and New Jersey. Second, the failure to license can result in significant penalties.

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Sawin & Shea

AUGUST 24, 2020

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. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits.

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National Service Bureau

SEPTEMBER 9, 2015

It’s no secret that student debt is at an all-time high. According to the US Department of Education, there are more than 40 million student loan borrowers who owe more than $1.2 A college education is practically the new high school equivalent - it’s pretty much expected to get a job. Let’s take a look at why….

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Collection Industry News

JANUARY 25, 2021

Though a woman defeated a debt collector’s claim for arbitration, her lawsuit challenging the creditor’s debt collection practices lacks standing, the 7th Circuit Court of Appeals has affirmed. The debt at issue involves plaintiff-appellant Francina Smith and her Sam’s Club credit card obtained through Synchrony Bank.

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National Service Bureau

DECEMBER 9, 2015

John Rossman and Mike Poncin of Moss and Barnett have a Debt Collection Drill podcast, and a recent episode was particularly relevant to our audience. These are important for debt collectors to avoid, especially because they’ve been emphasized recently. Enforcement actions involving servicemembers.

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Better Credit Blog

AUGUST 7, 2020

When a debt collection agency contacts you, it also does damage to your credit score. While owing money to a debt collector can harm your credit score and confronting the agency might seem like a daunting task, there’s no need to worry. And you may not have to pay the collections agency a dime in the process.

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Better Credit Blog

FEBRUARY 15, 2021

If you’ve received calls or letters from FCO Collections or noticed the name on your credit report, you probably have questions. Collections agencies like FCO may show up on your report when you forget to pay a bill or fall behind on your payments. About FCO Collections. Fair Collections & Outsourcing Inc.

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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. Validate the Debt.

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Better Credit Blog

OCTOBER 5, 2020

Has your credit score recently taken a dive as a result of a collections entry from Penn Credit? Avoiding the problem won’t make it go away, but paying your debt won’t necessarily solve anything, either. Penn Credit Corporation is a legitimate debt collector , one that is headquartered in Harrisburg, Pennsylvania.

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Better Credit Blog

AUGUST 17, 2020

When a debt collector like Cavalry SPV ends up on your report, it can do severe damage to your credit score for years, even if you pay off your debts. The agency also uses aggressive tactics to collect on debts, which can add stress to an already nerve-wracking situation. Send a debt validation letter.

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Collection Industry News

DECEMBER 28, 2020

18, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) completed its seven-year rulemaking process for debt collection. In 2013, the CFPB embarked on an ambitious journey to write regulations to interpret the 40-year-old Fair Debt Collections Practices Act (“FDCPA”). 30, 2021. As noted in our Nov.

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Better Credit Blog

SEPTEMBER 2, 2020

If you’ve gotten a call from Avante USA or you’ve run across the name on your credit report, you’re probably wondering how to get the collections account removed. They could be the key to transforming your credit score and getting debt collectors off your back. Send Avante a debt validation letter. The best part?

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Better Credit Blog

AUGUST 21, 2020

Nothing is quite as panic-inducing as receiving a call from a debt collector. Not only are they notoriously rude, but having a debt collector on your tail can mean that your credit score is about to take a dive. MRS BPO LLC is a medium-sized debt collection agency based in Cherry Hill, NJ. Know Your Rights.

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Troutman Sanders

SEPTEMBER 19, 2022

The standard courts should use to determine whether an alleged Fair Debt Collection Practices Act (FDCPA) violation is material remains unsettled. Pioneer) to help collect the debt. Pioneer Credit Recovery, Inc. , Pioneer sent the plaintiff’s employer a packet containing an order to withhold earnings.

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The Kaplan Group

FEBRUARY 19, 2020

You’ve probably heard that there’s a statute of limitations on debt. Whether you owe money or are owed money, you’re probably eager to know if your debt can still be collected on. A similar idea is in play when it comes to debt collection. It does not mean that you can no longer attempt to collect on the debt.

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The Kaplan Group

OCTOBER 19, 2020

Instead, I suggest you do what you can to educate yourself about your options. FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals.

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Better Credit Blog

SEPTEMBER 18, 2020

Failing to pay a debt may culminate into being pursued by a debt collector. National Credit Services is one such debt collector that may contact you if you fail to make payments on an overdue bill. Either way, they will open a collections account on your credit report in order to legally pursue payment.

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Collection Industry News

DECEMBER 28, 2020

The Eighth Circuit Court of Appeals held that the actions of a debt collector are not necessarily imputed to a debt buyer. This holding reversed the Western District of Arkansas District Court, which held that the actions of the debt collector are necessarily imputed to the debt buyer.

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Better Credit Blog

NOVEMBER 2, 2020

Action Financial Services is a debt collection agency that may have been hired by the original owner of your debt. They have a reputation as being an aggressive and relentless collector. In order to pursue you for the debt, Action Financial Services has to first open up a collections account on your credit report.

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