Posts Tagged ‘best debt collection agencies’

Advanta Credit Card Scam

In: Finance

18 Jul 2010

I sit at my desk completely frustrated with Advanta. I opened up a business credit card with them 3 years ago and made a purchase of $6500 to help build my business credit for Rapid Recovery Solution, my Collection Agency. I have paid more then the minimum every month, on time. Three months ago I noticed that my interest rate seemed a little high. No where on my statement did it say the actual interest rate so I called the company. After 10 min or so I get a live rep on the line and they tell me it is 36.1%. Are they kidding, this must be a mistake. I have over a 750 score and never missed a payment. They said they sent me a notice in Aug that they are doing this due to a change in there lending methods. It turns out this is the second time this year they did this. I went from 8.99% in Jan 08 to 18.99 in Feb 08 to 36.1% in Aug 08.

Medical Collection Firms Help Software Developers Sell Product

In: Health & Fitness

5 Jun 2010

iVolution Medical Systems, a West Hampton, NY-operated health care systems firm, is taking a altered approach. The four-year-old company, started by former Wall Street consultants to the health care industry, entered the medical receivables space by acquiring knowledgeable billing and collections companies. First there was Professional Health care Billing Services (PHB) of Palm Springs, California in March, and then Continental Collection Services of New York, earlier this month (iVolution Medical Systems Acquires Continental Collection Services, May 13).

Debtors Protection From The FDCPA

In: Finance

5 Jun 2010

It is crucial that debt collectors have respect your privacy. According to the Fair Debt Collection Practice Act, collections agents cannot exchange information about persons that owe a debt. They can’t distribute a list of debtors to its creditor subscribers. They cannot advertise a debt for sale, or create a list of debtors to its creditor subscribers.

FDCPA FAQs And Answers

In: Business

5 Jun 2010

In order to skirmish the topics associated with harassing debt collectors and debt collection companies, the Fair Debt Collection Practices Act (also known as the FDCPA) was constructed. The laws and regulations determined by the Fair Debt Collection Practices Act not only guard consumers, but they also assist debt collection agencies as well by encouraging them to act in a serious and professional manner when engaging in dialog with supposed debtors.

What’s The Skinny On Bill Collectors? Pt. 2

In: Reference & Education

1 Jun 2010

If the person in debt agrees to pay, the bill collector will record this commitment and will check up later to make sure that the payment was made. If a debtor does not pay, the collector will prepare a statement about their delinquency for the credit department of whoever they work for. In extreme cases, collectors may call for repossession, hand over the account to an attorney or disconnect service.

Laws That Ban Cell Phone Use Don’t Seem To Be Cutting It

In: Communications

16 May 2010

It was recently shown in through research that legislation banning cell phone use while driving fail to reduce crashes. According to the new Highway Loss Data Institute, there have been no reductions in crashes since cell phone bans have taken effect.

Collection Industry On The Brink Of Change

In: Business

15 Apr 2010

The collections industry has grown massively in the last couple of years. The reason for this is that collections and recoveries are mostly outsourced business functions. It would be impossible for a creditor to handle retrieving debt from all of their accounts, so the creditors call the collections agencies.

Collection Industry Is Going After Young Adults

In: Finance

12 Apr 2010

The most current analysis of the American economy shows that incomes are decreasing for those just begining. The Collections Industry has reason to believe that this paradigm shift will be permanent.

All About Bankruptcy Court

In: Business

5 Mar 2010

Basically, bankruptcy cases can be voluntary or involuntary. The overwhelming majority of cases will be voluntary. In these, debtors (the people who owe money) petition the bankruptcy court. With involuntary bankruptcy creditors (the people who you money to) file the petition in bankruptcy. Involuntary petitions are usually rare and are sometimes utilized in business settings in order to force a company into bankruptcy so the creditors can enforce their rights.


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