Better Credit Blog

APRIL 1, 2022

Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. Collection). Write a letter to the original creditor or collection agency and ask them to remove the negative entry from your credit history as an act of goodwill.

Bankruptcy 114

Bankruptcy Collection Agencies Collections Agency Lender 114

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.

Debt collector 87

Debt collector Collection Agencies Collections Agency Garnishment 87

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.

Collection Agencies 77

Collection Agencies Collections Agency Garnishment Fair Debt Collection 77

Troutman Sanders

AUGUST 26, 2020

The collection letter from the debt collector included a request for repayment of principal and interest. The defendant argued that it relied on information provided by the original creditor, based on which it should be entitled to the bona fide error (BFE) defense.

Debt collector 52

Debt collector Fair Debt Collection Creditors Original Creditor 52

Troutman Sanders

MARCH 22, 2023

An Illinois federal district court recently denied a creditor-defendant’s motion for summary judgment in a Fair Credit Reporting Act (FCRA) case brought by a consumer who questioned why his debt was being reported twice — as both a tradeline with the original creditor and as a tradeline with a third-party collection agency.

Judgment 52

Judgment Credit Unions Credit Unions Collection Agencies 52

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. Debts are often sold, so it may not be the original creditor filing the claim.

Debt collector 42

Debt collector Debtor Bankruptcy Creditors 42

Troutman Sanders

OCTOBER 13, 2023

The joint statement warns lenders that “unnecessary or overbroad” reliance on immigration status in the credit decisioning process may violate the Equal Credit Opportunity Act (ECOA) and other federal laws. Creditors will be left to make their best judgments about whether their policies are permissible or “overbroad” and hope for the best.

Creditors 52

Creditors Original Creditor Loans Judgment 52