Consumer Financial Services Law

APRIL 3, 2018

In Taylor, the issue before the court was whether a collection notice violates 15 U.S.C. 1692e when it fails to disclose that interest or fees are not currently accruing on a debt. In Taylor, the creditor instructed the debt collector not to accrue interest of fees on the debts at issue. Avila, 817 F.3d

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Jimerson Firm

MARCH 19, 2021

Code Section § 3732 provides the relevant procedure that must be followed to collect the guaranteed portion due on the loan from the Secretary. After providing notice, the Secretary has the option to pay the unpaid balance plus accrued interest and receive an assignment of the loan. Title 38 of U.S. Title 38 C.F.R.

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Consumer Financial Services Law

JANUARY 3, 2018

By Zachary Dunn The FDCPA prohibits a debt collector from using “any false, deceptive, or misleading representation” in connection with the collection of a debt. and Bank of America responded by placing Islam’s account with American Recovery Service (“ARS”) for collection. See 15 U.S.C. In Islam v.

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Troutman Sanders

SEPTEMBER 6, 2023

In response, the property management company engaged a collection agency to recover the remaining amounts claimed as due and owing under the lease. Over the course of several months, the collection agency sent the plaintiff multiple emails and letters containing errors.

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Consumer Financial Services Law

FEBRUARY 13, 2017

Specifically, the plaintiff alleged that defendants had failed to disclose the amount they sought to collect included accruing interest. H]er only alleged injury is that Defendants failed to include in the collection letter that interest was continuing to accrue. Consumer Adjustment Co., LEXIS 7401 (E.D.

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Jimerson Firm

FEBRUARY 11, 2022

Per the notice, the lender is obligated to continue servicing PPP loans until they are: (1) paid in full; (2) forgiven in full; or (3) the SBA purchases the guaranty and provides for charge-off of the remaining balance. However, the SBA has recognized alternative procedures for unsecured PPP loans.

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Collection Industry News

OCTOBER 17, 2023

“The 36% interest rate cap for active-duty servicemembers and their families has proven to be a highly effective measure in providing protection against predatory lending practices,” Grothman said in an email. The financial services industry remains largely opposed to imposing a ceiling. Minimum-payment math is brutal,” he said.

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