Brit Suttell wins the National Creditors Bar Association Donald Kramer Award for efforts on behalf of Credit and Legal Collections Industry. I’m humbled to receive such a prestigious award named after a true pioneer of legal collections, Don Kramer” said Suttell. MORE

In a coordinated effort in 2015 called Operation Collection Protection, the FTC and more than 70 law enforcement partners took 115 actions against deceptive and abusive debt collection practices. Illegal activities included harassing phone calls, bogus threats of arrest or lawsuit, and violations of other provisions of the Fair Debt Collection Practices Act. The collectors threatened them with legal action unless they made an immediate credit or debit card payment. MORE

While it’s smart to initially attempt collection on your own, there’s only so much work you should do. Trying to collect a bad debt is draining on your time and your resources. Eventually, it makes sense to pass the task on to a professional debt collection company. MORE

The 2015 consent order required Encore and its subsidiaries, prior to filing collection litigation, to provide consumers with a disclosure that the companies would provide original account-level documentation at no cost to the consumer within 30 days of a request. The 2015 consent order also prohibited the defendants from filing collection litigation on accounts that were time-barred by the applicable statute of limitations. MORE

On September 29, 2020, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC), along with more than 50 federal and state law enforcement partners, announced a nationwide law enforcement and outreach initiative designed to protect consumers from phantom debt collection, and abusive and threatening debt collection practices. Legal News MORE

The older the asset becomes, the less valuable it is because older debt is less likely to be collected. Can Creditors Attempt to Collect Charged Off Debt? You still owe the debt, and the company can still attempt to collect the debt. MORE

Has your credit score taken a dive due to debt in collections? When a collections agency like Accelerated Financial Solutions gets access to your debt, it can drop your score and make your day-to-day life more stressful. Apartment complex collections. Legal collections. MORE

“Software is capable of delivering extensive gains before you need to even consider debt collection agents!”. Debt collection isn’t a media darling, and you rightfully may know very little about it. Whichever structure they choose, their revenues boil down to collections fees. MORE

Whether mail went missing or communication about medical debt got mixed up, it’s possible an account with your name on it is languishing somewhere in collections. Here’s how to find out which collection agency you owe or uncover debts you don’t know about. MORE

If you have had an overdue bill move to collections, you may begin hearing from a company called ACS Inc. ACS Inc is a collection agency that works with lenders and creditors to recover payments on defaulted loans or unpaid bills. Collections MORE

The Donald Kramer award is given each year to “someone whose efforts have made a substantial and lasting impact for the benefit of the credit and legal collection community.” MORE

The good news is that it is your right to collect on debts as long as you follow the right legal procedures. If you operate a B2B model, you are required to follow business debt collection laws. If you owe or another business owes you, you are in good company because this article discusses the nitty-gritty of business debt collection laws. What are Business Debt Collection Laws? The business debt collection laws protect them. MORE

To legally collect a debt from you, they must first report the debt to the major credit bureaus. This will open a collection account on your credit report, which can cause your score to drop as much as 100 points. Intimidate you with legal action that they can’t take. MORE