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Introduction
Dealing with debt collection agencies can be a daunting task for many individuals who are struggling with their finances. One such debt collection agency is the CBE Group, which was established in 1933 and is headquartered in Cedar Falls, Iowa. With a staff of over 1,400 employees, CBE Group provides debt collection services to creditors in various industries. In this article, we will explore the history of CBE Group, the services it offers, its compliance with the Federal Trade Commission (FTC) regulations, and frequently asked questions about the company.
History
CBE Group was started in 1933 as Credit Bureau Enterprises, Inc. by Mendel Landsberg, who was an attorney and collection agent in Waterloo, Iowa. The company provided credit reporting and collection services to local businesses in the city. During the 1960s, the company expanded its services to other parts of the state and changed its name to CBE Group, Inc.
In the 1980s, the company started providing collection services to healthcare providers and in the following decade, it expanded its services to other industries, including financial services, telecommunications, and utilities. In 2017, CBE Group acquired Global Credit Union Services to expand its services to credit unions.
Services
CBE Group offers debt collection services to creditors in various industries, including healthcare, financial services, telecommunications, utilities, and government. The company’s services include first-party and third-party collection services, call center services, and accounts receivable management.
First-party collection services involve CBE Group working directly with the creditor to recover debts owed by their customers. The company uses various communication methods, including phone calls, email, and text messages, to contact customers and recover debts.
Third-party collection services involve CBE Group working on behalf of creditors to recover debts that are in default. The company contacts customers via phone, mail, or email and offers them payment plans to repay their debts.
Call center services provide support to businesses that need help managing their customer service and sales calls. CBE Group’s call center services include inbound and outbound calls, chat, and email support.
Accounts receivable management involves managing and collecting outstanding debts owed to a business. CBE Group provides accounts receivable management services to businesses to help them manage their debt recovery process.
Compliance with FTC Regulations
Debt collection agencies are regulated by the Federal Trade Commission (FTC) to ensure that they follow ethical practices when collecting debts. CBE Group is no exception, and the company is required to comply with the Fair Debt Collection Practices Act (FDCPA).
The FDCPA sets guidelines for debt collection agencies, including the following:
– Debt collectors cannot contact a person before 8:00 a.m. or after 9:00 p.m. unless they have permission from the consumer to do so.
– Debt collectors cannot contact a person at work if they know or should know that the employer prohibits such calls.
– Debt collectors cannot harass, threaten, or use abusive language to collect a debt.
– Debt collectors must send a written notice within five days of the initial contact, which includes the amount owed, the creditor’s name, and information about the consumer’s rights.
– Debt collectors must provide verification of the debt if the consumer requests it in writing within 30 days of receiving the initial notice.
CBE Group complies with these guidelines and has established a Compliance Management System (CMS) to ensure that it adheres to the FDCPA guidelines. The company also has a consumer complaint resolution process in place to address any complaints from consumers.
Frequently Asked Questions
1. What is CBE Group?
CBE Group is a debt collection agency that provides debt collection services to creditors in various industries, including healthcare, financial services, telecommunications, utilities, and government.
2. Is CBE Group a legitimate company?
Yes, CBE Group is a legitimate company that has been in business since 1933 and is regulated by the Federal Trade Commission.
3. Can CBE Group garnish wages?
CBE Group cannot garnish wages. Only a court order can allow a debt collector to garnish wages.
4. Can CBE Group sue me?
CBE Group may sue a consumer to recover a debt. However, they have to follow the proper procedures and comply with the Fair Debt Collection Practices Act.
5. Can I negotiate a settlement with CBE Group?
Yes, you can negotiate a settlement with CBE Group. It is recommended that you negotiate payment terms that are reasonable to you and that you can afford.
Conclusion
CBE Group is a debt collection agency that provides debt collection services to creditors in various industries. The company complies with the Federal Trade Commission regulations and has a consumer complaint resolution process in place. If you are dealing with debt and have received a notice from CBE Group, it is important to know your rights and to seek advice from a financial professional or attorney.
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Article Summary:
CBE Group is a debt collection agency providing collection services to creditors in healthcare, financial services, telecommunications, utilities, and government sectors. Founded in 1933, with a staff of over 1,400 employees, the company offers a range of services, including first-party and third-party collection, call center services and accounts receivable management. Companies seeking the collection services of CBE Group can benefit from the company’s adherence to Federal Trade Commission (FTC) regulations outlined in the Fair Debt Collection Practices Act. The stringent procedures they follow help ensure that debtors are treated ethically.
