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Can a Lender Pursue Debt Collection After a Charge Off and 1099-C Issuance?

Jimerson Firm

When account owners have an account that reflects a negative balance, the lender is faced with a myriad of options and obligations with regard to the pursuit of that debt. However, Florida courts have held that charged off debt is not forgiven, as may still be pursued for debt recovery and satisfaction.

Lender 98
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National Financial Awareness Day: Why Financial Literacy is Beneficial For Everyone

True Accord

In order to address this gap, lenders are in a unique position to help provide customers with educational content that not only improves customers’ financial literacy but helps with their own retention and acquisition strategies by building and maintaining customer trust and loyalty.

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What is Clarity Services Inc. on My Credit Report?

Better Credit Blog

Clarity Services is a third-party credit reporting company used by lenders to obtain data like your credit reports when you apply for funding. They specialize in subprime candidates, helping lenders with tough calls on applicants with poor credit or little to no credit history. Debt recovery. Debt collectors.

Lender 52
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What to do When You’re Served Papers for a Debt

Debt RR

Debts are often sold, so it may not be the original creditor filing the claim. Distressed homeowners who successfully fought foreclosure lawsuits stemming from the 2010 U.S. foreclosure crisis commonly used this defense. It was found some mortgage lenders used a process dubbed “ robo-signing” to falsify many county records.

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Debt Collection: Have We Learned the Lessons of the Last Crises?

Fico Collections

Research by FICO shows that customers who entered collections exclusively as a consequence of the economic downturn, before going through the full debt recovery cycle, had a dramatically different return to financial good (RtFG) of nine months, compared to the 2.5 As a result, lenders’ collections’ books are already growing.