NY debt collectors challenged by nonprofit group

Dec 21, 2018 Phil Burgess

The debt collection industry has expanded rapidly following one of the worst financial crises in the history of the United States that led to record volumes of outstanding credit held by businesses and consumers. While many agencies, especially


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Debt collection firms see revenues retreat due to compliance issues

Dec 13, 2018 Phil Burgess

Debt collection firms see revenues retreat due to compliance issues

Debt collection agencies posted a decline in revenue overall last year. According to insideARM, earnings before interest, taxes, depreciation and amortization dropped for seven of the eight collection company size categories measured last year


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A fresh approach to debt collections

Dec 12, 2018 Phil Burgess

Some debt collection agencies have taken a new approach to practices in an effort to improve the reputation of the industry and cultivate stronger client relations. Though all debt collectors must follow federal regulations such as the Fair


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Poor debt collection compliance can harm an agency's reputation

Dec 12, 2018 Phil Burgess

Poor debt collection compliance can harm an agency's reputation

In any industry, complying with regulatory policies is a major priority. In the debt collection sector, the need to adhere to applicable laws is especially important, as there are numerous state and federal stipulations that outlaw various


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Debt collection scams hurt industry but collectors can stand out with compliance

Dec 12, 2018 Phil Burgess

Debt collection scams can hurt the industry, as it causes a negative reputation of relief agencies among consumers, despite most companies being compliant with laws and ethics. KXTV-TV recently reported that a woman in Yuba City, California,


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