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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. Those who work in debt collections can build a thriving career.

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

The Kaplan Group

Most people seem to agree with CFPB’s former president Kathleen L. Generally, it seems like this new avenue to reach people is positive. Many people won’t answer a phone call that comes from a number they don’t know. Many people won’t answer a phone call that comes from a number they don’t know.

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

American Profit Recovery

Helping consumers navigate debt and tough times. Properly trained and reputable debt collection professionals are an incredible resource for consumers with debt challenges. And as a side note, that’s why it’s important for businesses of all sizes to get more comfortable using the services of a collection agency.

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

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Katabat Platform to Support SoFi Ominchannel Personal Loan Collections

Katabat

SoFi will leverage Katabat’s industry-leading Restore collections platform, to deliver an omnichannel experience for consumer collections. To learn more about our full range of debt management products, contact Katabat at info@katabat.com About SoFi SoFi helps people achieve financial independence to realize their ambitions.

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What Are “Actual Damages” Under the FCCPA and the FDCPA?

Jimerson Firm

The Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA) are two pro-consumer statutes. Florida’s Consumer Collection Practices Act (FCCPA) Part 1: Understanding the FCCPA (jimersonfirm.com) . For example, in Goodin v. Bank of America, N.A. ,

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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.