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Third-party Collection Third-party collection occurs when a credit grantor (the first party) outsources debt collection to a collection agency (the third party). Find out how the award winning, CollectOne software suite can help your organization maximize collection results. Learn More... Tradeline A tradeline is an entry by a credit grantor to a consumer's credit history maintained by a credit reporting agency. A tradeline describes the consumer's account status and activity. Tradeline information includes names of companies where the applicant has accounts, dates accounts were opened, credit limits, types of accounts, balances owed and payment histories. The CollectOne software suite is fully integrated with the major credit rating agencies, giving organizations a platform to manage the entire credit account life-cycle. Learn More... Treble Damages Treble damages is a term that indicates that a statute permits a court to triple the amount of the actual/compensatory damages to be awarded to a prevailing plaintiff, generally in order to punish the losing party for willful conduct. The CollectOne software suite comes standard with a feature that enables the ability to apply treble damages to applicable accounts. Learn More... Trustee A trustee is a private individual or corporation appointed in bankruptcy filings who represents the interests of the creditors in the bankruptcy estate. Find out how the CollectOne software suite can help your organization track bankruptcies on delinquent accounts. Learn More... Truth in Lending Act The Truth in Lending Act represents Title I of the Consumer Protection Act. It requires that most categories of lenders disclose the annual interest rate, the total dollar cost and other terms of loans and credit sales.