article thumbnail

Questions to ask a commercial collection agency before hiring

American Profit Recovery

And because you may be sending commercial accounts to your collection agency in other states, you’ll want to know that debt collection professionals understand that there can be different collection laws from state to state. What can we provide a commercial collection agency to improve our results?

article thumbnail

Who Should Use Commercial Debt (B2B) Collections?

Credit Management Company

Agencies work on a contingency basis - they only get paid when the debt has been collected. However, a commercial collection agency is unlike a consumer collection agency. B2B Collection FDCPA and Regulations. You might be wondering which restrictions apply to commercial collection firms and agents.

Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

Jacqueline Simms-Petredis Sworn in as President-Elect of the Hillsborough County Bar Association

Burr Forman

She advises clients and in-house counsel in litigation arising under the Truth in Lending Act, Real Estate Settlement Procedures Act, Fair Credit Reporting Act, Florida Consumer Collections Practices Act, Fair Debt Collections Practices Act and the Telephone Consumer Protection Act, among others.

article thumbnail

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. Commonwealth Financial Systems is a nonbank corporation with its principal place of business in Dickson City, Pennsylvania.

article thumbnail

Properly Evaluating and Defending Class Action Complaints

Jimerson Firm

Nevertheless, there appears to be an increase in class action complaints alleging violations of consumer protection laws such as Fair Debt Collection Practices Act (FDCPA), Florida’s Consumer Collections Practices Act (FCCPA), Fair Credit Reporting Act (FCRA), or Telephone Consumer Protection Act (TCPA).

article thumbnail

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

Debt RR

How to Find a Collection Agency for Your Small Business. There are many collection agencies for small businesses in the market. Some agencies specialize in consumer collection, others in the business collection, while some agencies cater to both consumers and businesses. The industry served.

article thumbnail

COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)

Burr Forman

With new and impending changes in both the economic and political landscape, financial institutions have had to adapt to ever-changing policies governing consumer loan servicing and debt collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.