Mon.Jul 20, 2020

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Chicago Lifts Suspension on Debt Collection

Collection Industry News

For more information on how the ACA Licensing staff can assist with your licensing needs, please contact us at Licensing@acainternational.org or call (952) 926-6547. The city is in phase four of its reopening plan , meaning, debt collection and payment plan defaults may resume, according to an article from nbcchicago.com .

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Legal-Related Language in Collection Letters, and How N.D. Illinois Can’t Make Up Its Mind

Collection Industry News

15, 2020) , a collection agency sent a dunning letter to a consumer that stated, “If you are not paying this account, contact your attorney regarding our potential remedies, and your defenses, or call (###) ###-####.”. It found that “if only” the letter said “pay, contact your attorney, or call,” then there would be no problem.

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Charged Off as Bad Debt: An Explainer

Credit Corp

Once you have enough money to negotiate, contact the original creditor. If you can pay in full right away, you have more leverage to have the charge-off removed you’re your credit report, but you can also ask if they’re willing to make payment arrangements Consider saving up money or taking out a debt consolidation loan.