Is Bankruptcy that Bad for your Credit Score? Dispelling Myths about Delinquent Accounts

Perhaps, the main reason why we shifted our focus from collectors to consumers is that consumers may be misunderstanding some aspects of the collection process, which, in turn, may complicate collections for collectors.

How Does the Collections Market Feel?

According to Bloomberg, even small but incremental debt collection improvements present an opportunity worth billions of dollars.

Debt Collection Trends

After the turbulent 2020, collectors worldwide began looking for ways to recover. The pandemic caused an unprecedented economic crisis, followed by serious changes in the direction the industry goes.

Check yourself with the New Compliance! CFPB Final Rule Guidelines for Collectors and Action Guide to Get Ready for it

CFPB issues the final rule that revises the Fair Debt Collection Practices Act. The new rule is expected to define the debt collectors’ activities and actions consumers should take in response to their requests.


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