Compliance with the Dodd-Frank federal regulation of debt collections is crucial in ensuring that a business is following the letter of the law when pursuing accounts receivable. Debt collection practices enacted by those who are trying to collect a debt must follow the regulations outlined in the Dodd-Frank Wall Street Reform and Consumer Protection Act or risk…
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…
Overdue accounts receivable are a common problem for small businesses. In fact, more than one-third of Americans have at least one unpaid bill in collections.* Overdue collections can sink your business’s financial stability, and the longer you wait, the less likely they are to be paid. You can attempt to collect unpaid bills yourself, or…
Debt collection is one of the oldest professions around. As long as people have borrowed money, there has been a need to collect that-which-is-owed for its rightful owner. Debt collection agencies and debt collection attorneys are just the most recent evolution in a long line of commercial and legal procedures and regulations. Debt Collection in…
Debt collectors can notify consumers about fraudulent charges and work through the situation with consumers. Last year, about 17.6 million consumers in the U.S. age 16 and older reported at least one incident of identity theft, according to the report Victims of Identity Theft 2014 by the Bureau of Justice Statistics. While reported cases of identity theft…