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If you have exhausted all other options attempting to collect a debt from a specific debtor, you may begin to consider taking that debtor to court to obtain a legal judgment. Holding a legal judgment can allow you to use more serious debt collection methods like garnishing a debtor's wages. However, before you begin [...]
This probably won't come as a surprise to most, but creditors are not generally the first people that debtors think to notify when they relocate. Whether intentional or not, many debtors forget to inform their creditors when they change locations. This can result in missed payments when mail isn't forwarded correctly. If the debtor [...]
Time spent collecting old debts is time that could have been spent working on growing your business in a plethora of different ways. Since time is such a valuable commodity to everyone, it makes sense that you may want to consider investing a little time upfront to reduce the amount of time you will [...]
Typing a debt collection letter can be one of the most frustrating experiences in the entire debt collection process. Not only are you taking time away from actually running your business, you also have to sit and type out a letter! It is easy to understand how business owners can let this task sit [...]
There are hundreds of different types of situations when it comes to debt collection, but almost all of them involve a phone call at some point. Contacting debtors be telephone is one of the most common methods employed by debt collectors. It can also be one of the most successful methods when done correctly. [...]
Every industry has its horror stories. If you talk to enough people, you're bound to come across someone who was ripped off by a contractor or had their wedding ruined by an incompetent photographer. The debt collection business is no different, except that it tends to receive more scrutiny than the average industry. Debt is [...]
As with any industry, the debt collection business has a wide range of participants. Some of them are upstanding members of the community who care about their reputations, and some of them are so focused on the bottom line that they don't think twice about cutting corners. When you are looking to hire a [...]
A few weeks ago, we took a look at the importance of respecting the Fair Debt Collection Practices Act (FDCPA). If you are attempting to collect debts in the state of California, you also need to be aware of the California Fair Debt Collection Practices Act (CFDCPA), which has also been referred to as the [...]
The Fair Debt Collection Practices Act (FDCPA) is probably the most cited and referenced piece of legislation when it comes to debt collection. It was approved in 1977 with the goal of providing consumers protection from abusive debt collection practices and to facilitate fair debt collection practices. It is also supposed to provide consumers with [...]
One situation that can make debt collection even more uncomfortable is when the debtor passes away. This can place the creditor in a very difficult position, especially if they knew the debtor personally and had a long history with that person. The last thing anyone wants to do is interrupt a family's grieving process during [...]
