Collections Law

FEBRUARY 28, 2023

To turn that judgment into money, you need the experienced collection attorneys at The Law Offices of Alan M. You can’t get any further with a collection agency. Ordinary attorneys can’t get much further than getting you the judgment. Rule 65 injunctions prevent debtors from hiding assets. Cohen LLC.

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Collections Law

APRIL 25, 2023

Medium-sized and large companies that are having trouble collecting on delinquent debts should act quickly. Time is of the essence – and that means you have no time for collection agencies. Did you know that collection agencies can’t force business debtors to pay? At the Law Offices of Alan M. We do not give up.

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Troutman Sanders

JUNE 28, 2022

The creditor referred the account to a law firm, which served the consumer with a collection suit and obtained a default judgment for the balance. The law firm sent four post-judgment collection letters, demanding the $4,225.74 The consumer never made a payment on the judgment. The case is Kola v.

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FFGN COLLECT NY

MARCH 31, 2023

Whether the defenses raised by the debtor are valid or not, a debtor defending a debt collection case can delay collection. If the case involves undisputed facts your attorney can request a summary judgment wherein your counsel makes a motion to the court requesting it applies the law to the undisputed facts and grants a judgment.

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Troutman Sanders

SEPTEMBER 11, 2023

On September 8, a federal court in the Eastern District of Texas granted summary judgment in favor of the U.S. The final judgment will be issued “forthwith.” While noting that the CFPB preserved its argument that the Fifth Circuit’s decision in that case is wrong and that its appeal to the U.S.

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Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. For more information, click here. The FTC has estimated that these fees can cost consumers tens of billions of dollars per year in unexpected costs.

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FFGN COLLECT NY

JULY 13, 2021

Is your New York judgment valid? If so, you will need to know how to collect on a judgment so it can get you paid. Article 52 of New York State Civil Practice Law and Rules authorizes judgment enforcement in New York. Once the judgment is entered, you must provide the requisite notice of entry, if required.

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Troutman Sanders

JULY 17, 2023

According to the FTC, the agency is empowered to enforce the provisions of the GLBA “in the same manner and with the same power and authority as the [FTC] has under the Fair Debt Collections Practices Act [FDCPA] ….” billion, which must be deposited in a redress fund administered by the FTC.

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FFGN COLLECT NY

JANUARY 20, 2021

States have their own rules and regulations when it comes to freezing or restraining bank accounts. Creditors and debtors alike often wonder how debt collection attorneys restrain bank accounts. Before Judgment. Accounts can be restrained before the entry of judgment is made by obtaining an order of attachment from the court.

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Debt Free Colorado

FEBRUARY 21, 2022

When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. You have rights to help you gain control over your debt collection interactions. Call or text you to collect a debt between 8 a.m.

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Collections Law

AUGUST 17, 2021

The court may rule that the debtor owes a certain amount of money, and also award additional damages. The entry of a judgment does not translate into payment in most cases. Winning is not the same as collecting. Despite the ruling, the debtor may still claim that it does not have the money or is unwilling to pay the money.

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Troutman Sanders

MARCH 17, 2022

The Uniform Commercial Code’s (UCC) midnight deadline rule imposes an obligation on payor banks to return dishonored checks before midnight of the next business day after the date of receipt of the item. MCNB argued that Stahl did not have standing to enforce the midnight deadline rule. In Stahl v. Stitt, et al. ,

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Stevens Lloyd

DECEMBER 13, 2018

You have initiated a lawsuit and won a Default Judgment against the debtor. Judgments are worthless unless you can locate and garnish the debtor’s assets, however. Extracting money from judgments necessitates obtaining significant information about the debtor as it relates to their assets. So now what ?

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Troutman Sanders

JANUARY 5, 2022

Federal Activities: On December 31, 2021, Federal Deposit Insurance Corporation Chairman Jelena McWilliams resigned her position effective February 4. State Activities: On December 31, 2021, New York Governor Kathleen Hochul signed a bill into law that will lower the interest rate charged on unpaid money judgments to 2%.

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Credit Corp

JULY 10, 2023

Evictions aren’t included on your credit report , and neither are certain types of public records such as eviction judgments. First, collection accounts or debts leading up to your eviction do appear on your credit report. Second, judgments related to evictions are a matter of public record. Can You Dispute an Eviction?

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Troutman Sanders

DECEMBER 20, 2022

On December 15, the Office of the Comptroller of the Currency, along with the Federal Financial Institutions Examination Council, released revised procedures for how its examiners will investigate financial institutions for Fair Debt Collection Practices Act compliance, incorporating Regulation F changes into their review.

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Collections Law

APRIL 1, 2020

Collecting debts from debtors having assets in Massachusetts while you are in another state or a different country used to be difficult, even if you had a judgment against them. Massachusetts was among the few states that had not adopted the Uniform Enforcement of Foreign Judgment Act. Not Just Domestication — Enforcement, Too.

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FFGN COLLECT NY

DECEMBER 3, 2021

In order to go to trial in a debt collection case, a few things have to happen. After documents are exchanged, the parties may conduct depositions, an oral testimony taken down by a court reporter, for clarification of the documents exchanged. Despite popular belief, a trial in a debt collection case is not desired.

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Collection Industry News

MAY 30, 2022

New Yorkers facing debt-collection lawsuits are poised to get a little extra help in the wake of a federal court’s ruling — and some observers say it could translate to a win for consumers across the country who have basic legal questions but can’t afford a lawyer. Source: site.

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Collection Industry News

JANUARY 29, 2021

Court of Appeals for the Seventh Circuit recently vacated judgment in favor of a debt collector against putative class action claims raised by a consumer that its collection letter violated the federal Fair Debt Collection Practices Act (FDCPA) by threatening action that could not legally be taken and amounting to a false representation.

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Collection Industry News

MAY 3, 2022

Performance SLC unlawfully collected upfront payments from borrowers and did not provide required disclosures. If entered by the court, the judgment would ban Performance SLC permanently from debt relief services and ban Crenshaw from debt relief services for five years. Crenshaw to pay a $30,000 fine.

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Troutman Sanders

MAY 9, 2023

On May 3, the Securities and Exchange Commission (SEC) published a final ruling on changes made to the Form PF. The ruling stated that the SEC was still assessing a proposed definition for the term “digital asset.” Among other things, these CET include digital identity infrastructure and distributed ledger technologies.

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Troutman Sanders

NOVEMBER 2, 2020

It requires federal regulators to exclude PPP loans from asset-size calculations for the purpose of determining capital ratios, deposit insurance premiums, and other asset thresholds at those financial institutions. The legislation would benefit banks and credit unions with assets under $15 billion. For more information, click here.

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Consumer Financial Services Law

JUNE 11, 2016

Last month, the CFPB issued its much anticipated and much dreaded proposed arbitration rules. In its own words, the CFPB proposes “rules that would prohibit mandatory arbitration clauses that deny groups of consumers their day in court.” What You Need to Know The Rule in a Nutshell. Who’s Covered? Proposed 12 CFR 1040.3

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FDCPA Defense

APRIL 17, 2019

The CFPB is expected to announce proposed debt collection rules in the near future that may incorporate the theory. A notice of your deposition is served, where your client’s adversary plans to ask you questions about what you did before you sent the letter. The complaint seeks damages and attorney’s fees. 1692, et seq.

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Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.

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Troutman Sanders

OCTOBER 26, 2020

On October 23, the Federal Reserve and Financial Crimes Enforcement Network (FinCEN) invited comment on a proposed rule change, requiring financial institutions to keep more records on hand related to smaller-value international fund transfers. The legislation would benefit banks and credit unions with assets under $15 billion.

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Troutman Sanders

AUGUST 1, 2023

According to the FDIC, Heartland had approximately $139 million in total assets and $130 million in total deposits. Dream First Bank, National Association, has agreed to assume all the deposits of Heartland and almost all of Heartland’s failed bank assets. The amendment, led by U.S. For more information, click here.

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Troutman Sanders

MARCH 4, 2024

On February 29, the Federal Serve Board, Federal Deposit Insurance Corporation (FDIC), and the OCC announced that they will host the 2024 National Interagency Community Reinvestment Conference in Portland, OR, March 4 to 7. s Municipal Regulations. For more information, click here.

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Troutman Sanders

MARCH 14, 2023

On February 28, the FDIC Office of Inspector General issued its annual “Top Management and Performance Challenges Facing the Federal Deposit Insurance Corporation” assessment report. In addition to the ban, RMK will also pay a $1 million penalty to be deposited into the CFPB’s victims’ relief fund. For more information, click here.

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Troutman Sanders

MARCH 6, 2023

On February 28, the FDIC Office of Inspector General issued its annual “Top Management and Performance Challenges Facing the Federal Deposit Insurance Corporation” assessment report. In addition to the ban, RMK will also pay a $1 million penalty to be deposited into the CFPB’s victims’ relief fund. For more information, click here.

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Troutman Sanders

MAY 23, 2023

Department of Justice (DOJ) Crypto Enforcement Director Eun Young Choi noted that the DOJ intends to focus on digital asset companies that are obviating anti-money laundering and know-your-customer rules, as well as “chain bridge” exploits that have become prevalent in decentralized finance. For more information, click here.

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Troutman Sanders

JUNE 14, 2023

On June 8, the board of governors for the Federal Reserve (the Fed), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and the OCC requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.

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Troutman Sanders

AUGUST 16, 2022

Federal Activities: On August 12, VantageScore announced that it completed an extensive analysis on how recent changes have impacted consumer credit score models to how medical collection accounts are reported, including changes brought by the COVID-19 pandemic. VantageScore decided to drop medical debt from its calculations.

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Nexa Collect

NOVEMBER 1, 2021

Individuals can be legally forced to pay their debts with their cryptocurrency, but the creditor must have a judgment which states that the debtor is obligated to pay off the debt, including any cryptocurrency they own. The sale proceeds are deposited into the U.S. How do traditional payment methods work to collect payments?

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Jimerson Firm

JUNE 8, 2022

This is often done through state rules of civil procedure, but a statute of limitations may apply to limit these kinds of deposition requests, as it did in this Texas case. Other courts may follow the Cahill standard which requires a plaintiff to support their defamation claim with facts sufficient to create a summary judgment motion.

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Collection Industry News

AUGUST 9, 2021

In announcing the Order, President Biden acknowledged the Supreme Court’s ruling in Alabama Association and the possibility of litigation in the near future. On June 29, 2021, the Supreme Court narrowly ruled , 5 to 4, in the CDC’s favor, declining to vacate the stay ( Alabama Association of Realtors, et al. 594 U.S. _ (2021)).

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