FDCPA Defense

MAY 6, 2014

The CFPB does not want debt collectors to tell consumers that paying their debts might help them to improve their credit score. Nor does the CFPB want collectors to encourage consumers to pay by informing them that their failure to do so might harm their credit. at 418, n. ProCollect, Inc. , 3d 665 (5th Cir. 558, 566 (D.

Creditworthiness 40

Creditworthiness Debtor Debt collector Consumer Credit 40

Troutman Sanders

SEPTEMBER 25, 2023

The guidance requires lenders to use specific and accurate reasons when taking adverse actions against consumers, meaning creditors may not simply use CFPB sample forms if they do not reflect actual reasons for denying credit or changed credit conditions. For more information, click here. For more information, click here. 1020.210(b).

Financial services 52

Financial services Loans Banks Debt collector 52

Fico Collections

JULY 6, 2020

It is worth repeating that collections departments (both 1st and 3rd party, given the increase in early collections outsourcing) are now tasked with dealing with thousands of customers who are not in arrears due to the usual reasons and without the usual market data to help identify and segment them. The duration of impact.

Collections 52

Collections Creditors Banks Credit Bureau 52