Taurus Collect

FEBRUARY 1, 2024

That’s where a debt collections service steps in—a critical intermediary that takes on the task of pursuing delinquent accounts to ensure that owed funds are recovered. Introduction Debt collectors, often viewed with a mix of apprehension and uncertainty, play a significant role in the credit economy.

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Nexa Collect

JUNE 21, 2023

This can make qualifying for credit cards, loans, mortgages, or even certain jobs harder. Increased Debt : If you ignore the debt, interest and fees may accumulate, potentially increasing the total amount you owe. Legal Action : The creditor or collection agency may file a lawsuit against you to recover the debt.

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The Kaplan Group

OCTOBER 19, 2020

FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals. These provisions mean that you may owe interest on unpaid debts.

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Collection Industry News

DECEMBER 4, 2022

If you know your rights and financial situation, it’s less likely that you may be duped by a similar scheme, according to Bruce McClary, senior vice president of membership and communications at the National Foundation for Credit Counseling. Getting to know the Fair Debt Collection Practices Act is a good place to start, he said.

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