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What Debt Collectors Can and Can’t do on Social Media

The Kaplan Group

Debt collectors can now contact consumers on social media. Here’s the background and all you need to know about what debt collectors can and can’t do on social media. In November 2021, The CFPB made some long-awaited updates to the Fair Debt Collection Practices Act. Yes, it’s true.

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4 consumer myths about debt collections DEBUNKED

American Profit Recovery

And most collection agencies understand that demanding full payment from a consumer, will only cause that consumer to end up in collections once again. Payment plans are always an option for a consumer in collections. Debt collectors are always aggressive and demanding-FALSE.

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

American Profit Recovery

There is a lot of important work done by reputable and professional debt collectors daily in this country. This work helps the overall economy, consumers that may be struggling with ongoing debt, and small businesses struggling to meet payroll and other expenses. Helping consumers navigate debt and tough times.

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CFPB Shuts Down Commonwealth Financial Systems for Illegal Debt Collection Practices

Collection Industry News

The Consumer Financial Protection Bureau (CFPB) today took action against a medical debt collector, Commonwealth Financial Systems, for illegally trying to collect unverified medical debts after consumers disputed the validity of the debts. WASHINGTON, D.C. – Read today’s order. Along with the U.S.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

million, to people who lost money to credit card debt relief schemes. On July 15, the Connecticut Department of Banking fined a collection agency, after finding it had allegedly operated without proper licensing for about seven years. The data provides insights into borrowers’ experiences obtaining residential mortgages.