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4 consumer myths about debt collections DEBUNKED

American Profit Recovery

To say there is endless misinformation about debt collections in the media and on the Internet would be a vast understatement. Right up front, you should know that the debt collection industry provides critical and necessary support to not only consumers and the business community but the overall economy.

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How a B2B Collection Agency Can Work Harmoniously with Clients and Customers

American Profit Recovery

However, the relationship between a collection agency, its clients, and their customers can be delicate. These relationships are delicate because in many cases, we are talking about large sums of money. Think about the business of manufacturing or other types of distribution businesses that are filling large orders for clients.

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Connecticut Banking Regulator Reduces Fine Against Defunct Collection Firm

Troutman Sanders

The Connecticut Banking Commissioner (Commissioner), acting through the Consumer Credit Division of the Department of Banking (the Division), conducted an investigation into the Law Offices of David M. The firm allegedly collected about $81,000 of that amount. The firm had 14 days to request a hearing, but failed to do so.

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Questions to ask a commercial collection agency before hiring

American Profit Recovery

If you are an organization looking to hire a commercial debt collection agency, here are a few questions you’ll want to ask before moving forward. But when we are talking about commercial debt collections, the amount being collected can be thousands of dollars if not more. How do you treat our commercial customers?

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8 reasons why businesses rely on debt collection agencies

American Profit Recovery

The economy is stronger because of collection agencies and businesses of all sizes continue to build a solid financial foundation by partnering with the right collection agency. Want to know more about why businesses rely so much on professional debt collection agencies ? Check out our thoughts here.

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Why it’s important for collection agencies to share what they do

American Profit Recovery

This work helps the overall economy, consumers that may be struggling with ongoing debt, and small businesses struggling to meet payroll and other expenses. The debt collection industry helps larger organizations keep costs down and keeps the workforce employed. The debt collection industry touches just about everyone.

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CFPB Shuts Down Commonwealth Financial Systems for Illegal Debt Collection Practices

Collection Industry News

Commonwealth is a third-party debt collector that specializes in the collection of past-due medical debts and furnishes information about consumer collection accounts to consumer reporting companies. Pay a $95,000 fine: Commonwealth will pay a $95,000 penalty to the CFPB’s victims relief fund.