FFGN COLLECT NY

JANUARY 10, 2024

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. The government will look to stop these exploitative tactics and more. The government will look to stop these exploitative tactics and more.

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Direct Recovery

JUNE 24, 2020

With an unprecedented number of Americans filing for unemployment, debt collection has been harder than ever for collectors who are attempting to work from home, and business isn’t going to get any better on account of those $1,200 stimulus checks, especially here in California. Money Collected Must Be Returned.

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Taurus Collect

AUGUST 15, 2023

Navigating the intricate world of debt collection can be a challenging task for businesses of all sizes. That’s why outsourcing debt collection services , particularly in key areas such as Manchester, can be the game-changer your business needs.

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Collection Industry News

MAY 3, 2021

Consumer groups are applauding a bill that is meant to keep debt collectors from garnishing the stimulus payments and other direct aid approved by the federal government to offset the financial strain created by the pandemic. Source: site. Andrew Cuomo’s desk for his final approval.

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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? It does not come into play for creditors collecting their own debts.

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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 creditor then hires a debt collection agency to start the collection process.

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Debt RR

AUGUST 3, 2020

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts.

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Taurus Collect

JANUARY 23, 2023

Tax season can be incredibly stressful for business owners, with many wondering how the financial decisions they make today could affect their future debt collection. In this article, we’ll explore what you need to know about taxes and debt collection to ensure that your organisation remains solvent as tax season approaches.

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Collection Industry News

JUNE 14, 2021

Ciffa’s offices in Niagara Falls and Kenmore, debt collectors intimidated their victims with illegal threats of arrests and lawsuits. According to federal prosecutors, an elderly cancer patient in Texas was so rattled by the threats that she borrowed $500 from her sister to help pay off a debt of $1,285. Source: site.

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Better Credit Blog

AUGUST 31, 2020

Having debt in collections can be downright overwhelming, especially when debt collectors bombard you with dozens of phone calls. Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. Table of Contents.

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Collection Industry News

OCTOBER 6, 2020

It was a great time to be a debt collector. In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. There was no ban on collections of old credit card bills, Encore’s specialty. But now even that hiccup is over. Elizabeth A.

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Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. This Bulletin serves as an update to that non-exhaustive compilation of information.

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Consumer Financial Services Law

OCTOBER 12, 2016

The Eleventh Circuit recently joined the First and Eighth Circuits in concluding that the FDCPA’s venue provision does not apply to post-judgment garnishment proceedings. Post judgment, the law firm filed a garnishment proceeding against the consumer’s bank seeking to collect on the judgment. 1692i(a)(2). Ray, CITE. “[A]s

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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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Collection Industry News

MARCH 7, 2022

Also, research shows more than other groups, communities of color are burdened by debt collections and related wage garnishments and asset seizures. Top debt collectors seized more than $700 million from California residents in the years 2012 to 2017, according to Skinner’s office.

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Collection Industry News

JUNE 28, 2021

Senate Democrats are calling on federal authorities to take action on aggressive medical debt collection, citing reports about hospitals suing patients over unpaid bills. In the second quarter of 2018, medical bills comprised more than half of third-party debt collections , the senators wrote. “We Source: site.

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Collection Industry News

JULY 20, 2020

DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.

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Collection Industry News

MAY 30, 2022

New Yorkers facing debt-collection lawsuits are poised to get a little extra help in the wake of a federal court’s ruling — and some observers say it could translate to a win for consumers across the country who have basic legal questions but can’t afford a lawyer. Source: site.

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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

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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Credit Corp

MAY 30, 2023

This is known as wage garnishment. These payments are sent to the judgment creditor until your debt is paid. The Consumer Credit Protection Act caps these types of garnishments. Nonwage garnishment. If you’re retired, unemployed, or self-employed, your bank account may be garnished instead. Property liens.

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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. and stay in his hotel.

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The Kaplan Group

OCTOBER 19, 2020

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. The law does not apply to collecting from businesses. Garnishment.

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Sawin & Shea

OCTOBER 5, 2022

In August 2022, the Biden-Harris Administration initiated a $10,000/$20,000 debt relief program for those with federal student loans earning less than $125,000 annually, but even with this debt relief plan, numerous Americans will continue to struggle with overwhelming student loans. They can even intercept your federal tax refund.

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Troutman Sanders

MARCH 4, 2024

State Activities: On February 28, New York AG Letitia James (D) announced that her office secured more than $650,000 from a debt collection law firm and its subsidiary for filing allegedly frivolous lawsuits and “harming … New Yorkers.” s Municipal Regulations. Businesses should continue posting these notices as required by the D.C.

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National Service Bureau

APRIL 6, 2015

Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. 5: Improper contact or sharing of information.

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Better Credit Blog

SEPTEMBER 8, 2020

It could only take one missed payment on your car loan, credit card, or phone bill to harm your credit score and wind up on a debt collector like Northland Group’s list. Fortunately, an entry from a debt collector is one of the most easily reversible marks, as long as you know how to confront them. Government.

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Troutman Sanders

AUGUST 3, 2020

On July 29, 2020, Senators Chris Van Hollen and Chris Murphy introduced the COVID-19 Medical Debt Collection Relief Act, S.4350, This bill would prevent healthcare providers from taking “extraordinary” collection actions for up to 18 months after the bill becomes law as a means of protecting consumers during the coronavirus pandemic.

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Troutman Sanders

NOVEMBER 13, 2023

On November 6, the Bank of England, Financial Conduct Authority, and Prudential Regulation Authority issued guidance explaining how current and proposed regulatory regimes governing “e-money, stablecoins, and tokenised bank deposits” will interact, indicating that applicable financial institutions will be subject to dual or triple regulation.

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National Service Bureau

AUGUST 19, 2015

Like any industry, the debt collection and accounts receivable management industries have some bad apples. The latter are obviously people and organizations that you would want to avoid should your business need assistance with collecting on delinquent accounts. But what if there was no real debt in the first place?

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Troutman Sanders

NOVEMBER 7, 2023

On October 30, the FTC announced that it had banned the owner of a small business funding company from both the merchant cash advance and debt collection industries. The agreement also alleges that the mailers “hid the company’s identity” and gave the false impression that the company was affiliated with the government.

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Collection Industry News

MARCH 2, 2021

Democratic senators have reintroduced legislation to prevent health care providers from actions such as wage garnishment in connection with medical debts. It is among several proposals on medical debt collections introduced at the state and federal level this year. Chris Van Hollen, D-Md., Jeff Merkley, D-Ore.,

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The McHughes Law Firm

AUGUST 29, 2016

New business debt collection may be the last thing on your mind as you juggle all the different moving parts the come with starting a business. If you are in the process of starting a new business, debt collection on past due accounts is likely not even on your radar yet. 4: Debt Collection is Too Expensive.

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Sawin & Shea

JANUARY 18, 2023

Filing Chapter 7 bankruptcy provides you with an automatic stay that prohibits creditors from being able to take any action to collect a debt against you, such as repossessions, wage garnishment, and legal action. What Happens After You File Chapter 7 Bankruptcy? Additionally, your creditors will not be allowed to contact you.

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Troutman Sanders

JULY 26, 2021

PSLF is a federal student loan program through which certain borrowers can apply to have their federal student loans forgiven after working as a full-time employee for government entities or 501(c)(3) nonprofit organizations for 10 years or more. The guidance resulted from concerns that debt collectors would seize the funds.

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Consumer Financial Services Law

OCTOBER 16, 2017

By Zachary Dunn October 16, 2017 The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” The FDCPA also includes a “bona fide error” defense to violations of its mandates, including violations of Section 1692d(6). In Berry v.

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Troutman Sanders

AUGUST 9, 2021

On August 3, Federal Reserve Board announced that it will extend the comment period for its proposal to govern funds transfers over the Federal Reserve Banks’ FedNow Service until September 9. s emergency debt collection bill. For more information, click here. For more information, click here. On August 3, the Washington, D.C.

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