The Affiliated Group Blog

DEBT COLLECTORS FOCUS ON SERVICE AFTER SCRUTINY

AUGUST 15, 2013
Debt Collection Agency

Debt collection isn’t the easiest of jobs. Debtors often don’t want to be found, or be reminded of their debts—the exact things a collection agencies do. While collection agencies have every right to pursue unpaid debts, there are laws and regulations that define what collection tactics are and are not acceptable.

NEW PROGRAM TO TAKE PLACE OF PERKINS LOAN?

August 8, 2013

Because of unreimbursed loan cancellations in recent years, Perkins loans payments have been down -- leading to reduced availability of funds for the program and putting the entire program in doubt.

The Perkins loan programs fill a needs for lower- and middle-income students with weak or no credit and also have families who earn too much to be eligible for Pell Grants. These loans can be the difference make in whether or not a hopeful student can attend college.

TIPS ON AVOIDING STUDENT LOAN DEBT

August 5, 2013

Being a college graduate can be difficult these days. With the job market slowly on the increase, hiring is hit or miss depending on where you live, adding to the stress of student loan repayments. The last thing you want to deal with while searching for a job once you’ve graduated is government collections. By implementing some of the following tips, however, you may be able to handle repayment, whether employed or otherwise.

DEALING WITH MEDICAL DEBT

August 1, 2013

Medical issues can sneak up on anyone and are simply a part of life. Hopefully the following list can give some insight on how to go approaching the processes of repaying a medical debt.

The following are a few things to consider and remember when dealing with medical debt collections.

NY STATE HAS NEWER, TOUGHER DEBT COLLECTION RULES

JULY 29, 2013

Thursday, New York’s Department of Financial Services, or DFS, announced proposed regulations that, according to the DFS, are a “set of nation-leading reforms to help protect consumers against abusive and deceptive debt collection practices.” The new regulations bring many new requirements to accounts receiveable management companies operating within the state, but also pave the way for e-mail communications between collectors and customers.

GOVERNMENT AND MEDICAL DEBT ON THE RISE

July 26, 2013

According to the CFPB, as of July 17th, financial institution debt “no longer represents the largest focus of debt collection activity”. Corey Stone, the assistant director of the CFPB’s Office of Deposits, Cash, Collections and Reporting Markets, stated that healthcare providers now represent the largest group of collection agencies customers, as well as agencies’ largest amount of recoveries in terms of dollars.

DONT FEAR COLLECTION CALLS

JULY 24, 2013

Because of popular stigma, the general public seems to fear debt collection calls. Whether calling in regards to a medical debt collection, or student loan/government debt collection, people still worry. It is understandable to worry if the call comes “out of the blue”, as it can catch you off guard and throw a wrench into your financial plans

However, there is no need to panic. The following are a few things to keep in mind when dealing with a collections call.

Pages

Subscribe to Blog