I frequently receive calls from Clients about a ‘cannot miss’ collection they need me to handle. Usually the claim is against a Company and the Client informs me they have a Personal Guarantee. They want me to immediately report the debtor to the Credit Bureaus to negatively affect the FICO Score. They want me to […]
As it now stands, the TCPA puts a debt collector at risk for leaving a message on a ‘wrong number’ if the call is made to a cell phone. The law also does not allow a debt collector to call a different phone number than the number called originally when a debtor agrees to speak […]
Some lending companies have taken to checking what an applicant has reported on Facebook. Are the Applicants noting a lost job or money problems? Do they have too many friends for comfort? This may already be costing some people loans their current FICO score would approve. You might be interested to know that some Lenders […]
If you find Debt Collection Status Reports difficult to understand you are not alone. The problem is that Debt Collection requires a lot of different letters, some of which are custom, and a lot of telephone calls, many of which are messages. Look at the original and current balance for each claim. If they are […]
The resolution of Consumer complaints against Debt Collection Agencies can help improve overall performance for the industry and provide our clients with a better return on their claims. The Consumer Financial Protection Bureau is working with Debt Collection Agencies to handle these complaints quickly. The new service can provide Debt Collection Agencies with previously unavailable […]
FICO is a scoring system designed to predict the future payment of bills. Most of the data in the FICO is derived from big lenders such as banks or credit cards. If you aren’t a big lender, you need to protect yourself because the score may not be designed for your particular needs. One critical […]
If you find Debt Collection Status Reports difficult to understand you are not alone. The problem is that Debt Collection requires a lot of different letters, some of which are custom, and a lot of telephone calls, many of which are messages. Look at the original and current balance for each claim. If they are […]
I hear this yelled loud and long from various media outlets. It does happen and it is interesting to view the comments of readers, most of who seem to be debtors. Here are some of the reasons it can happen and what you can do to make sure your debtors are correctly identified. Some debtors […]
If you evaluate people using a FICO you may not be seeing the true credit picture. No, it isn’t FICO. It is misleading information in the Credit Bureau data base. Here are some of the big reasons reported by FICO that can dramatically alter a person’s FICO score creating an incorrect picture of a person’s […]
Unlike other Creditors, Medical providers rarely check patient information with the possible exception of Insurance coverage. This has a dramatic negative effect on how much will be collected by a Medical Office, Debt Collection Agency or Attorney. Most Patients provide information that is both complete and correct. Even here, however, there may be unexpected problems […]