Account Recovery

FEBRUARY 16, 2022

The Department of Education has announced it will suspend the seizure of tax refunds, Social Security payments, and other government payments to collect on defaulted student loans through November. Will Not Use Tax Refunds, Social Security to Collect on Defaulted Student Loans Until November appeared first on AccountsRecovery.net.

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Account Recovery

APRIL 12, 2023

The number of complaints filed with the Consumer Financial Protection Bureau increased by 61% from 2021 to 2022, but that share of those complaints that were related to debt collection dropped by 50%, according to data released as part of a report analyzing the increase in complaints that was released by the U.S.

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Account Recovery

AUGUST 12, 2022

The only good thing that happens when an individual defaults on his or her student loan is that debt collectors make money, according to an Undersecretary at the Department of Education who was speaking during a virtual panel discussion earlier this week.

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Student loans Student Loans Loans Debt collector 246

American Profit Recovery

JUNE 28, 2023

There have been many shifts in the debt collection industry over the past several years. And the trends and updates that many in the collection industry have worked hard on, are moving the industry in a positive way. Check out the words that are becoming the “norm” in collections.

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Account Recovery

MARCH 31, 2021

Expands Moratorium on Collection of Defaulted Student Loans appeared first on AccountsRecovery.net.

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Student loans Student Loans Loans Education 214

Fico Collections

MARCH 15, 2021

When we launched FICO’s “Score A Better Future” program in October 2018, our main goal was to continue to expand consumer credit access through financial education. We recently announced our milestone 15th financial education event of this national program and we couldn’t be prouder of how much the program expanded in the last two years.

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Education Consumer Credit Collections 98

American Profit Recovery

DECEMBER 1, 2021

We’ve always been big advocates when it comes to educating consumers on their rights when it comes to debt collections as well as how to effectively work with a collector to take care of financial obligations. The collection industry as a whole is doing its part as well. What can be found on Know My Debt ?

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American Profit Recovery

AUGUST 11, 2021

That includes how we can work in the best interest of the clients that hire us, the consumers that are struggling with their finances, and the overall health and effectiveness of the collection industry. No government or elected official can be educated on every issue that lies in front of them. We have always wanted to do our part.

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Collections Collection Agencies Collections Agency Education 246

Troutman Sanders

APRIL 20, 2022

On April 18, the Consumer Financial Protection Bureau (CFPB or Bureau) published a blog post , scrutinizing the practice of withholding transcripts from students with delinquent accounts and who are attending an institute of higher education. As recently as December 2021, U.S.

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Education Lender Student loans Student Loans 52

Nexa Collect

JUNE 23, 2023

Collection agency letters can impact debtors, depending on factors such as the debtor’s financial situation, emotional state, and knowledge of their rights and responsibilities. Here are some potential impacts: Stress and Anxiety : Receiving a letter from a collection agency can cause significant stress and anxiety for debtors.

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Collection Agencies Collections Agency Debtor Collections 100

Account Recovery

SEPTEMBER 28, 2022

LOS ANGELES, CA (September 27, 2022) – Payscout, a global payment innovation leader with solutions for vertical-specific industries such as Accounts Receivable Management (ARM), Healthcare, Education, and Enterprise merchants with a global presence and complex requirements, is excited to announce an enhanced partnership with Collection Works Software (..)

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Accounts Receivables Management Healthcare Collections Education 130

UK debt collections

NOVEMBER 8, 2021

The UK’s largest University has called upon a leading UK Debt Collection Agency for help with course content for its students. It is seen a major boost in credibility for the industry and the acceptance of the role Debt Collection Agencies have to play in modern UK Business.

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Account Recovery

AUGUST 23, 2023

The Federal Trade Commission on Monday announced it had sued and obtained a temporary restraining order against a number of corporate and individual defendants accused of pretending to be affiliated with the Department of Education so that they could market student loan forgiveness programs that made false promises and collected millions in illegal (..)

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Student loans Student Loans Loans Education 246

Nexa Collect

MAY 16, 2021

Did you sponsor higher education for your employee with a commitment to work with you for a few years, but he resigned right after completing the degree? A collection agency can work with your employee professionally and legally to ensure that you get your money back. Need a collection agency? Contact us.

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CSA

APRIL 8, 2021

The CSA has further invested in its Learning & Development offering with the appointment of education specialist, Jane Peacock. The Credit Services Association (CSA), the trade association for the debt collection industry,?has experience in the education sector. Her most recent role was within the Department for Education?s

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Education Trade Collections 40

Taurus Collect

APRIL 9, 2024

In the dynamic landscape of business, maintaining a healthy cash flow remains a paramount challenge, particularly in the face of rising collection costs. This is where the innovative concept of No Cure No Pay debt collection in the UK presents a compelling solution. It’s part art, part science, and entirely essential.

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Collections Debt Recovery Collection Agencies Collections Agency 72

Nexa Collect

FEBRUARY 3, 2022

An average collection agency will recover about 20% of the total debt assigned. Here are the most important factors which decide how much a collection agency will collect for you: 1. Some clients may get a 100% recovery rate, for others it could very well be 0%. Debtors are less likely to pay when they feel threatened.

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Collection Agencies Collections Agency Collections Debt collector 130

Account Recovery

JULY 26, 2023

Consumers are being provided with a new playbook on how to handle unpaid medical debts that are placed with collection agencies, as part of a new report from the U.S. PIRG Education Fund and Community Catalyst that aims to inform consumers about their rights when it comes to medical bills. A copy of the report […]

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Education Collection Agencies Collections Agency Collections 130

Account Recovery

JULY 8, 2021

State regulators, including those that specifically regulate collection agencies, have asked the Department of Education to “cease obstructing or discouraging state regulation” by formally taking steps to prove it is serious about not blocking attempts from state regulators to access records needed to investigate student loan servicers (..)

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Student loans Student Loans Loans Collection Agencies 246

Collection Industry News

SEPTEMBER 12, 2022

The partnership will seek further success within the California higher education sector by directly supporting students, employees, alumni and retirees of UC San Diego through community-oriented financial services and access to the full-range of benefits provided to all members of UCU. “The LOS ANGELES, Sept.

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Account Recovery

AUGUST 17, 2022

The Department of Education announced yesterday that it is canceling all the remaining federal student loans for anyone who attended ITT Technical Institute between 2005 and its closure in 2016. This will result in the cancellation of loans for 208,000 individuals who collectively owed $3.9 billion on those outstanding debts.

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Loans Student loans Student Loans Education 246

Collection Industry News

AUGUST 8, 2022

15 provides the Private Student Loan Collections Reform Act, which is contained in Sections 1788.200 to 1788.211. Section 1788.203 requires all settlement agreements between a private education lender or private education loan collector and a debtor to be documented in open court or otherwise reduced to writing. Title 1.6C.15

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Student loans Student Loans Loans Education 40

Collection Industry News

JUNE 28, 2022

The post Travis Credit Union to offer free youth financial education at Diablo Valley College appeared first on Collection Industry News. Admission to this event is free. To register, please visit traviscu.org/mad-city-money.

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Credit Unions Credit Unions Education Judgment 40

FFGN COLLECT NY

OCTOBER 3, 2023

a New York law firm devoted to the collection of bad debt, on recent recognitions. FFGN) is one of New York’s oldest commercial debt collection firm. The firm has won numerous awards and its weekly blog continues to educate and be a resource for many. The post Congratulations Jocelyn Nager, NY Debt Collection Attorney!

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Account Recovery

MARCH 10, 2022

Analyzing complaints that have been filed with the Consumer Financial Protection Bureau and the Better Business Bureau related to Buy Now, Pay Later products, a consumer advocacy organization has published a report showing that “hidden fees, interest and debt collection problems” can harm consumers.

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Education Collections 245

Consumer Finance

OCTOBER 3, 2023

New Jersey has made great progress on a range of crucial consumer protection issues, from last year’s legislation providing important protections against predatory lending by for-profit schools to building momentum on basic debt collection standards to fighting off efforts to allow problematic earned wage access products.

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Account Recovery

DECEMBER 1, 2021

Given all the blood, sweat, and tears that went into bringing Regulation F into this world, I would have expected the Consumer Financial Protection Bureau to do something to commemorate the enactment of the debt collection rule yesterday, but it instead chose a more understated approach, opting to take the opportunity to educate consumers about … (..)

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Education Collections 246

Troutman Sanders

MARCH 16, 2023

On March 16, the Consumer Financial Protection Bureau (CFPB) released a compliance bulletin entitled Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts. Consequently, examiners identified instances where servicers resumed collecting on loans that had been discharged.

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Student loans Student Loans Loans Bankruptcy 52

ABI

JANUARY 13, 2022

Sallie Mae , the United States Court of Appeals for the Second Circuit held that private educational loans may be discharged under § 523(a)(8)(ii) of title 11 of the United States Code (the “Bankruptcy Code”). [1] 1] Homaidan funded his college education, in part, with two private tuition loans from Navient that totaled $12,567. [2]

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CSA

JANUARY 8, 2021

Job Description Post: Independent Non-Executive Director (Specialism in Further Education and Apprenticeships). Applications are sought from senior business or educational figures with significant experience of the current reformed Apprenticeships and Technical Education environment. 67 billion for collection, returning nearly

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Education Financial services Government Trade 40

Account Recovery

OCTOBER 18, 2021

The Department of Education on Friday announced that it has awarded contracts to six different companies that will be responsible for servicing and collecting federal student loans, while also announcing that it has amended the contract terms for those providers to strengthen “standards for performance, transparency, and accountability” (..)

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Student loans Student Loans Loans Education 246

Collection Industry News

APRIL 11, 2022

Department of Education (“Department”) announced a significant new policy that, in some cases, will require owners, investors, and controlling parties of private colleges and universities to guarantee the regulatory liabilities of the school. Source- site. On March 23, 2022, the U.S. during the pandemic, or may soon fall below 1.5

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FFGN COLLECT NY

MARCH 31, 2023

Whether the defenses raised by the debtor are valid or not, a debtor defending a debt collection case can delay collection. Education Claim Our client had the underlying enrollment and re-enrollment contracts, the statements sent to the family or guardians requesting payment, email correspondence, and enrollment deposits.

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Judgment Collections Debtor Education 52

Account Recovery

NOVEMBER 15, 2021

Less than five months after it announced it was exiting the student loan servicing business, the Pennsylvania Higher Education Assistance Agency — more commonly known as PHEAA — disclosed on Thursday that it had reached an agreement with the Education Department to extend its contract for one year to allow more time to transition students (..)

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Student loans Student Loans Loans Education 246

FFGN COLLECT NY

DECEMBER 15, 2021

The Consumer Financial Protection Bureau (CFPB) has more to do with your debt collection claim than you might think. Personally, CFPB has a lot to do with how companies approach you to collect debt and other financial products. The CFPB regulates debt collection only as it relates to consumer debt.

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Debt collector Collections Fair Debt Collection Collection Agencies 98

Collection Industry News

JUNE 9, 2023

Introduction: For collection agencies and attorneys, expanding their business and maximizing revenue is a constant pursuit. In this article, we will explore the advantages of joining the Commercial Collection Agencies of America (CCAA) and how it can help collection agencies and attorneys propel their business growth to new heights.

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Account Recovery

DECEMBER 18, 2023

Nearly nine million people who have student loans have not yet made a payment after the moratorium on student loan payments ended three months ago, according to a published report that cited information from the Education Department.

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Student loans Student Loans Loans Education 147