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4 consumer myths about debt collections DEBUNKED

American Profit Recovery

Collection agencies always demand full payment-FALSE. There has been a long-standing myth about collections that states when you are contacted by an agency, they will always demand full payment. Payment plans are always an option for a consumer in collections. This is not true.

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8 reasons why businesses rely on debt collection agencies

American Profit Recovery

That includes laws and regulations surrounding debt collections and regular training to build the necessary skills to navigate the collection process effectively. A critical part of training is also how to create resolutions through negotiations as well as the human element of building trust with consumers.

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What Does the CFPB Have to Do With My Debt Collection Claim?

FFGN COLLECT NY

If the individual owner or tenant owes the receivable and you seek payment from the individual through a debt collector , the CFPB will have a watchful eye. What is the Consumer Financial Protection Bureau? The CFPB determines how, where, and when you can pursue debt collection efforts against your consumer customer.

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What is the Difference Between the FDCPA and the FCCPA?

Jimerson Firm

Businesses throughout Florida should be aware of consumer statutes that provide remedies to consumers and impose liability to businesses, even for small technical violations. The FDCPA prohibits debt collectors from making false or misleading representations and from engaging in various abusive and unfair practices.

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Debt collection ensures proper access to consumer credit

American Profit Recovery

Professional collectors provide a critical service to both small businesses as well as nationwide organizations in helping them secure late payments from customers. Without third-party assistance to secure back payments, many organizations would struggle on several levels. Some restrictions can reduce credit to consumers.

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$225,000 Punitive Damages Award Upheld Where Creditor Repeatedly Contacted Customer After Being Notified of Attorney Representation

Troutman Sanders

After receiving notice of representation, the defendant sent five billing notifications to the plaintiff and made six telephone calls attempting to collect on the $5 monthly payment. The plaintiff filed suit against the defendant alleging, among other things, violation of § 559.72(18)

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The Importance of Collection Agencies for Small Businesses Affected by Default Accounts

Debt RR

Due to the frustration they encounter when collecting debts, they may resort to outsourcing the debt collection process to a collection agency for small businesses. Collection agencies for small businesses are third-party establishments that collect overdue payments or funds from default accounts.