Is a debt relief law firm the same as a debt collection agency?

No, a debt relief law firm is not the same as a debt collection agency. A debt relief law firm specializes in helping individuals negotiate with creditors and negotiate debt repayment plans. They also help individuals with filing for bankruptcy protection in order to get debt relief. On the other hand, a debt collection agency is a company that pursues the collection of money owed by individuals or businesses that have not paid their debt. In Washington, debt relief law firms are regulated by the Washington State Department of Financial Institutions. All debt relief law firms must be licensed by the state. To obtain a license, the firm must have a physical office, an attorney on staff, and must be insured against losses and provide proof of surety bond coverage. Debt relief law firms in Washington must adhere to certain laws and provide complete, accurate, and timely information to consumers. They are also required to have a complaints and dispute resolution process in place in order to resolve any disputes that may arise. In comparison, debt collection agencies do not need to be licensed in Washington and do not have to adhere to the same laws that debt relief law firms must follow. They may attempt to collect debts in any way they deem necessary, including contacting consumers multiple times per day, making harassing phone calls, or taking legal action against the debtor.

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Is a debt relief law firm the same as a debt collection agency?

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