Category: Collections

Debt Collection Balances in 2022 Based on a recent analysis of the Fed Consumer Credit Panel/Equifax Data Report completed by the Federal Reserve, aggregate household debt balances increased by $333 billion in the fourth quarter of 2021, which represents a 2.2% rise from the third quarter of 2021, and the largest increase since 2007 in […]

The Debt Collection Rule (“the Rule”) interprets the federal Fair Debt Collection Practices Act. The Rule attempts to clarify how debt collectors can communicate with debtors and what information must be provided to the debtor when attempting to collect a debt. A new concept in the Rule is Limited Content Messages, defined in Section 1006.2. […]

When deciding to hire a Debt Collection Law Firm vs Debt Collection Agency might seem similar in concept, understanding the limitations of a debt collection agency is important. Both debt collection law firms and debt collections agencies are regulated by the Fair Debt Collection Practices Act; however, the abilities on how to collect the debt can be […]

As debts owed to your company start to pile up, you may find it challenging to keep your business afloat. Unless you have big money coming in otherwise, covering payroll, maintaining a solid inventory, and paying for overhead all require repayment of those debts. Trying to locate the debtors and get them to send in […]

When your clients leave outstanding balances on the books, your monthly business revenues take an immediate dive. Worse yet, the longer the debts remain unpaid, the less likely your customers are to issue payment on their own. Thankfully, you can collect the money owed to you by hiring a commercial collections attorney. Here’s how they […]