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Facebook Launches Commercial Collection Program. Is Consumer Collections Next?

Account Recovery

The majority of small businesses are still struggling financially, according to research that Facebook has conducted, so the social media giant is … The post Facebook Launches Commercial Collection Program. Is Consumer Collections Next? appeared first on AccountsRecovery.net.

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Collection Operation to Pay $10k Fine for Operating in CT Without Proper License

Account Recovery

A collection operation has agreed to pay a $10,000 fine to the Connecticut Department of Banking for operating in the state without the proper license to collect. The Background: The company operated in Connecticut as a licensed consumer collection agency from 2010 through 2018, when its license expired.

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The Difference between Collecting Debt from a Person vs. a Business

Enterprise Recovery

Agencies that collect from individuals will use different collection tactics and are subject to harsher regulations than those that collect from businesses. Often these agencies choose to separate consumer collections from commercial collections because the processes vary.

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Connecticut Regulator Revokes License, Fines Agency $100k

Account Recovery

The Connecticut Department of Banking has revoked the consumer collection agency license and imposed a fine of $100,000 on a collection agency for failing to provide information requested during an examination, which rendered the state unable to determine the financial responsibility and general fitness of the operation that it could operate soundly (..)

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Conn. Regulator Fines Company $10k For Operating Without License

Account Recovery

The Connecticut Department of Banking has levied a $10,000 fine against a company for operating as a consumer collection agency in the state without obtaining the proper license. A copy of the ruling in the matter against Lockhart, Morris & Montgomery can be accessed by clicking here.

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Conn. Regulator Reduces Fine Against Collection Law Firm to $20k

Account Recovery

The Connecticut Department of Banking has reduced the fine against a law firm that was operating in the state without a consumer collection agency license to $20,000 from $100,000, largely on the basis that the law firm is no longer in business. A copy of the order with the Law Offices of David M. Katz […]

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Florida Supreme Court Rules Injured Worker Can Sue Under State Collection Law

Account Recovery

The Florida Supreme Court has affirmed a lower court’s ruling holding that an individual subjected to debt collection activities for an injury covered by workers’ compensation can sue under the Florida Consumer Collection Practices Act instead of the state’s Department of Financial Services holding jurisdiction.