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CFPB Debt Collection Rules: What You Need to Know

Credit Management Company

In November 2021, the new Consumer Finance Protection Bureau (CFPB) Debt Collection Rule went into effect. This rule limits how often a collector can contact a debtor while also establishing rules around social media and what information must be included in a voicemail. Debt collector name and mailing information.

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Common Myths About Using a Collection Agency

Credit Management Company

Companies hire debt collection agencies to collect debts on their behalf. Sometimes, businesses may even sell their debt to collection agencies. In that case, those businesses no longer own the debt you’re paying. Regardless of why the debt collectors pursue the debt, the agency contacts you for a reason.

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How to Spot a Scam Call

Credit Management Company

For some debt collectors, this can be a big problem. While collecting medical debt is not a scam, many collectors are unaware that they behave in a way that's similar to scams. Our patient account representatives do not threaten, shame, interrogate or otherwise show hostility toward the debtor. Providing Options.

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Finding A Collection Agency: Part 1 - The 5 First Steps

Credit Management Company

Are you worried that if you refer your customers to a debt collection agency you’ll lose control of your brand? If you’ve had negative experiences with debt collectors, you may think that asking someone else to handle your unpaid invoices is the wrong move. Look for a Debt Collection Agency in Your Industry.