Arkansas Creditors Bar Association and McHughes Law Firm helped pass new Arkansas legislation concerning debt buyers. They must now be licensed by Arkansas as debt collectors to legally buy or sell debt in the state. The Arkansas Supreme Court has ruled that debt buyers are considered a collection agency in the eyes of Arkansas law,…
According to a 2014 federal survey, harassment from phantom debt collectors is the second most complained-about financial problem reported by consumers, following identity theft. If you are contacted about a debt that is not yours, you may be the target of a debt collection scam. Phantom debt collectors – so called because they are difficult…
Successful commercial debt collections can be the difference between succeeding in today’s competitive market, and your business succumbing to unpaid invoices. There are three commercial debt collection practices commonly used by debt collection attorneys that can help your business collect on past due debt and ensure your business’s financial security:
Court orders for payment of a debt can cause considerable financial distress. If you have a judgment against you, call the attorney who obtained the judgment to learn about your options for repayment. A creditor has the right to file a lawsuit against you if you fail to pay a debt. However, many debtors are…
Before initiating a subrogation claim under the Arkansas made whole law, insurers must obtain either a judicial determination or agreement with the insured that they have been made whole. Although insurers have some obstacles to overcome in pursuing their right to subrogation when complying with the made whole law in Arkansas, it can be done…