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Collections Law/Fair Credit Act

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Mark wrote at 2012-08-16 17:50:01
A creditor can obtain a credit report against a judgment debtor.  The Fair Credit Reporting Act Section 604(3)(A) states that a credit report can be obtained for "collection of an account".  This has been challenged and case law has established that a judgment must be obtained before a credit report can be obtained.  This means that a credit report cannot be obtained to determine the collection worthiness of the debtor or before the judgment.  


Joe wrote at 2013-04-05 15:34:37
Finding a bank account is easier today than ever before if you are willing to gamble a little.  With the big banks you don't need to know what branch or account number.  Send your Sheriff or Marshal to the biggest bank near the debtor's location and ask them to attach any and all accounts.  If your debtor has an account anywhere in their system you will catch it.  If that fails then try the next closest big bank.  If you don't get a hit you can then try the smaller banks.  Remember to add the costs of the failures to your judgment with a memo of costs.


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Mike Janakes

Expertise

Anything having to do with collections, dialers, FDCPA, FCRA, TCPA, and related issues. I've spent over 25 years in the collection world, but am a strong advocate of proper/legal activity and the ethical treatment of consumers. I've managed large cal centers all of the US, Canada, and India. I know what is right and what to do when it's wrong.

Experience

I've spent over 25 years in the collection world, but am a strong advocate of proper/legal activity and the ethical treatment of consumers. I've managed large cal centers all of the US, Canada, and India.

Organizations
3rd Party AR Professionals Credit & Collections Professionals American Collections Association Credit Card Professionals Credit Collections and Risk World Payment Card Industry Group World Credit Congress InsideARM Executive Peer Group California Association of Collectors Certified Agency Manager Licenes in: Tennessee, Nevada and Michigan (the only states that currently require them)

Publications
Benprise InsideARM.com World Credit Congress

Education/Credentials
University of Nevada San Francisco State Univ

Past/Present Clients
None

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