article thumbnail

Daily Digest – October 3. Collector Not Obligated to Notify Creditor of Dispute; Legal Challenges to Student Loan Debt Cancellation Plan Launched

Account Recovery

COLLECTOR NOT OBLIGATED TO NOTIFY CREDITOR OF DISPUTE A judge in Oklahoma has granted a motion to dismiss, ruling the defendant was not obligated under the Fair Debt Collection Practices Act to notify the original creditor that a debt was being disputed.

article thumbnail

California Private Student Loan Collections

Collection Industry News

15 provides the Private Student Loan Collections Reform Act, which is contained in Sections 1788.200 to 1788.211. Section 1788.205 provides that, in an action brought by a private education lender or private education loan collector to collect a private education loan, the complaint must allege specified information.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Does Paying Off Collections Improve Your Credit Score?

Credit Corp

Your credit score may improve if your collection debt is reported to a new credit scoring model—FICO 9®, FICO 10®, VantageScore 3.0® Most creditors still report to old scoring models, so it’s unlikely paying off the debt will improve your credit score. In This Piece: What Is Collections Debt? ® or VantageScore 4.0®.

article thumbnail

What Is Debt Collection?

Taurus Collect

Debt collection is the approach of pursuing payments of debts owed by different entities (individuals or businesses). It occurs when a collection agency or a company attempts to collect past-due debts from borrowers. Debt collection often varies depending on the agency that is collecting the debt.

article thumbnail

How Do Debt Collection Companies Operate?

Taurus Collect

The debt collection process involves recovering debts from the borrower who has initially failed to repay or recover payments on accounts that are past their due date. When asked about “what collection agencies do?”, Debt collection varies depending on the company collecting the debt. The name of the original creditor.

article thumbnail

What Should You Know If You Have Debts In Collections?

Taurus Collect

Having debts in the collection primarily means that a third party is pursuing you to retrieve payments for your debts on behalf of your creditors. Debt collection is a process that gives debtors certain rights that debt collection agencies must respect. What does it mean to have debt in collections? to 9 p.m.,

article thumbnail

What is Caine and Weiner?

Debt Collection Answers

This is Caine and Weiner, a collection agency. Caine and Weiner specialize in reporting collections accounts on credit reports. Having a collections account from Caine and Weiner on your credit report can damage your credit score and make obtaining loans and other financial activities difficult. Who are Caine and Weiner?