Debt Collections, Foreclosure

Home Owners Flip Debt Collections on their Banks

In an act of debt collections role reversal, two homeowners exercised their rights as property owners by ordering a levy on their banks to recover legal fees. Yes, that’s correct. For the residents, it wasn’t Bank of America or Wells Fargo who would be collecting on them — despite repeated attempts by those institutions — but the residents who initiated a sale on the two financial goliaths for attempting to make invalid collections.

Common Acronyms of the Collections Industry

Collections Industry Common Acronyms

Considering the broad spectrum of applicable government agencies, associations and regulations, doing business in the collections industry can be overwhelming. In this complicated landscape, knowledge is power while a familiarity with the various terms and organizations provides a competitive advantage for collections managers. Below are some of the most common agencies, associations and acts that…