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Third-party debt collectors often try everything in their power to get debtors to pay their bills. The original creditors weren’t successful, but the experience of third parties is sometimes met with success. All third-party debt collectors must ensure they abide by...
The Fair Debt Collection Practices Act (FDCPA) is a federal law that governs how debt collectors can interact with consumers. The law primarily applies to third-party debt collectors, such as collection agencies; however, it’s critical that all creditors understand...
Recovering unpaid debts is an important part of protecting your financial interests. Whether you are a business, service provider or lender, handling debt collection with care can help you avoid setbacks and strengthen your chances of successful recovery. However,...
Garnishment is a powerful tool for creditors looking to collect on unpaid debts. In Ohio, creditors can seize a portion of a debtor's wages, bank accounts, or other assets to satisfy a judgment. Understanding the rules surrounding garnishment is essential for...
When a creditor tries to collect money owed, the process can be very different depending on whether the debt is from a person or a business. It’s important to know how creditor rights change between these two types of cases. Consumer debt cases Consumer debt happens...
The Fair Credit Reporting Act (FCRA) is a federal law designed to protect the privacy of credit information. While the FCRA often focuses on consumer rights, it also provides protections for creditors. By establishing clear rules for credit reporting, the FCRA helps...
When someone sells a company, the status of its creditors becomes an issue. Creditors hold an interest in the outcome of the sale, as it impacts their ability to collect debts. Understanding how the court handles these debts depends on the structure of the sale and...
Collecting debts can be tricky, especially when trying to stay compliant with Ohio state and federal laws. These key guidelines ensure you do not violate legal boundaries while attempting to collect on owed debts. Understand the Fair Debt Collection Practices Act...
As a creditor involved in debtor-creditor litigation, understanding and enforcing your rights is crucial. This process involves complex legal steps and financial implications. Knowing your rights and the necessary steps to take can help you effectively manage and...
In finance and lending, understanding the rights and obligations of both creditors and borrowers is important for maintaining a healthy and fair economic environment. While much focus is on how the Truth in Lending Act protects consumers, it is equally important to...
