Texting to Collect?

We work with both debtors and creditors, which makes the issue of texting to collect on past-due debts very interesting. A South African study showed that using cellphone SMS messaging in debt collection has driven response rates as much as 200% higher than what was achieved by letters and even summonses. From the debtor’s perspective, a text [...]

If The Paperwork Is Wrong, It’s Not Enforceable

In this recession, it is no surprise that the Federal Trade Commission — which has primary enforcement responsibility as to the Fair Debt Collection Practices Act — reports an absolute increase in the number of complaints by consumers about third-party debt collectors’ practices. An April 21, 2010 slip opinion by the United States Supreme Court [...]

The Importance of Paperwork

This story from New York brings a lesson to both debtors and creditors: sometimes the lack of proper paperwork stops a collections process/foreclosure.

Texting for Collections

The law lags often behind technological advances; one example is the area of debt collection.  While financial service providers send 12 million text messages per day, most of them are service-related (such as account balance alerts) and permitted by the account holder. However, if you are a creditor thinking of using text messaging as part [...]

In Financial Distress?

We help clients facing these financial difficulties: Foreclosures, wage garnishments, creditor harassment and repossessions Creditor negotiation (including credit card companies) to lower debt and avoid bankruptcy Restructuring, liquidating and winding down troubled operations Negotiate unpaid taxes with local, state and federal agencies Asset planning and protection after a harmful turn of business affairs We regularly [...]