The Fair Debt Collection Practices Act (FDCPA) was created as a Federal statute in the year 1978, as Title VIII of the Consumer Credit Protection Act. The purpose of this act is to eliminate harassment of a consumer in the process of debt collection. The Act specified a list of do's and don'ts while collecting debt. It also defined the Consumer's rights under the Act. FAIR … [Read more...]
Debt Collection Agencies Can Help
Many companies are concerned about money owed to them by individuals or other organizations so it is very important for them to employ the professional help from collection agencies. Debt collection agencies are the ones who are well equipped and more knowledgeable when it comes to figuring out which methods to use to effectively collect debt from the debtors. Businesses and … [Read more...]
Important Issues Related to Commercial Debt Collections
The rules and regulations governing commercial debt collections are completely different from the consumer debt collections. One can find lots of information related to consumer debt collection. There are many companies that specialize in this field. However, when it comes to commercial debt collection, it can be little tricky to find the right company that provides reliable … [Read more...]
The Benefits of Using a Commercial Collection Agency
If you have a substantial amount of past due accounts and you are not using a commercial collection agency, then you are leaving money on the table. Many businesses, especially small and medium size businesses will ignore the possibility of collecting overdue accounts with help from a professional agency. There is an attempt to collect internally, using employees in the … [Read more...]
Why Use A Debt Collections Agency?
Bad debts can create lot of problems for both small and large businesses. As our economy continues to struggle, the problems created by bad debt are worsening around the US. Many companies have already gone bankrupt as they were unable to recover their millions of dollars worth of outstanding debts. Chasing up payments with customers is not only cumbersome, but is time … [Read more...]