Collection Industry News

JULY 20, 2020

DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.

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Collection Industry News

DECEMBER 1, 2022

The hiatus that some states and companies put on debt collection activities at the height of the pandemic has largely ended, and debt collectors have resumed business as usual. There’s no magic phrase to stop a debt collector, but you can ask a debt collector to stop contacting you. Ask for Documentation.

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Payment Savvy

NOVEMBER 30, 2021

In 2020, the Consumer Financial Protection Bureau (CFPB) published two rules which implement the Fair Debt Collection Practices Act (FDCPA). Suppose your company works in the field of debt collecting, such as third-party debt collection firms , collection attorneys, debt buyers, or defaulted mortgage servicers.

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Collection Industry News

OCTOBER 6, 2020

There was no ban on collections of old credit card bills, Encore’s specialty. Debt collection lawsuits provide a key source of revenue for the companies, a way to extract payment from consumers, typically low-income, who don’t offer it up. The company said it had stopped seeking orders to garnish bank accounts.

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Titan Consulting

JUNE 7, 2020

Benefits include a suspension of payments, no negative credit reporting, no collection activity, and no accrual if interest until September 30, 2020. No action is required on the part of the borrower to activate these benefits. Congress allows employers to now pay up to $5,250 without a tax impact to the borrower.

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Credit Corp

AUGUST 31, 2021

Can a debt collector collect after 10 years, for example? Can a debt collector collect after 10 years? Time-barred debts and your credit report What to do if you are contacted about an old debt COVID-19 and debt collections. Can a Debt Collector Collect After 10 Years? Find out in the informational guide below.

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Debt Free Colorado

NOVEMBER 13, 2017

Today’s lawsuit seeks to stop the deception and get compensation for consumers Freedom cheated.”. In fact, Freedom charges consumers its full fee even when creditors simply stop collection efforts in the absence of a negotiated settlement and consumer payment and when it takes no action on a consumer’s account.

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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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Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. Can a debt collector collect after 10 years? Here’s an overview of the timelines for debt collection and what to do if you’re contacted about an old debt.

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Troutman Sanders

NOVEMBER 24, 2020

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities.

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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. Our Experienced Collections Attorneys Knows How to Enforce Foreign Judgments in Massachusetts. Not Just Domestication — Enforcement, Too.

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Collections Law

JULY 29, 2021

The initial step to commercial debt collection is long before you send your debtor to collection. Relying on handshakes and oral promises may feel more natural but in commercial debt collection, it is extremely helpful to have good paperwork. The collections attorneys at the Law Offices of Alan M.

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Collection Industry News

JUNE 14, 2021

Welcome to the world of illegal debt collections. The National Consumer Law Center calls Buffalo “an epicenter” of fraudulent debt collection activity. There are 156 debt collection companies – some of them legitimate, some not – in those two counties, employing more than 3,400 people, according to the state Labor Department.

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Troutman Sanders

MARCH 4, 2024

The 2024 program will focus on the agencies’ new CRA rule, and will include regulator-led sessions on the rule as well as panels on community development policy and activities. There will be pre-conference tours of local community development organizations and projects. For information, click here. For information, click here.

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Sawin & Shea

JANUARY 24, 2024

The Pros Bankruptcy can stop foreclosures , repossessions, lawsuits, wage garnishment, utility shut-offs, and debt collection activities through its automatic stay provision. The debts themselves remain open and active on your credit history. Missed payments can worsen your financial situation quickly.

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Troutman Sanders

FEBRUARY 8, 2021

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities. On February 2, the U.S.

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Troutman Sanders

JUNE 22, 2021

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest COVID-19 driven events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities. On June 16, the U.S.

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Troutman Sanders

NOVEMBER 7, 2023

On October 30, the FTC announced that it had banned the owner of a small business funding company from both the merchant cash advance and debt collection industries. It confirms that the proposed regime will not regulate activities related to already regulated cryptoassets. For more information, click here.

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