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Third Circuit Broadens Definition of “Debt Collector” under FDCPA to Include Entities That Acquire Debt but Outsource Collection of That Debt

Consumer Finance Watch

a recent precedential decision, the Third Circuit Court of Appeals held an entity whose business is the purchasing of defaulted debts for the purpose of collecting on them falls squarely within the “principal purpose” definition of the Fair Debt Collection Practices Act (“FDCPA”), 15 U.S.C. 18-1042, __ F.3d 3d __ (3d Cir.

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Successors by Merger May Not be Debt Collectors

Consumer Financial Services Law

A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.

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How to Stop DNF Associates, LLC

Debt Collection Answers

Like all other debt collectors, DNF Associates, LLC depends on multiple sources of information to pursue debt collection. This involves gathering all relevant information and evidence regarding the purported debt. Typically, DNF Associates purchase these debts for as low as 10% of the original amount owed.

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How to Remove Capio Partners From Your Credit Report

Better Credit Blog

If you are being pursued by Capio Partners for a debt, this means that they have opened up an entry on your credit report. Apart from being annoying, these debt collectors can cause a host of problems for your credit score down the line. Collection accounts can hurt your credit score even after you pay off the debt.

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How to Remove 11 Charter Bright House from Your Credit Report

Better Credit Blog

Debt collectors can cause a lot of problems for your credit score down the line. Collection accounts can hurt your credit score for up to seven years even after you pay off the debt. 11 Charter Bright House is a debt collection agency that is headquartered in Stamford, Connecticut. Request Debt Validation.

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How to Remove ConServe from Your Credit Report

Better Credit Blog

ConServe is a debt collection agency that may contact you regarding unpaid debts. They are a third-party debt collector, which means that they may be hired by your original creditor, or they may purchase your old debt on the chance that you pay them instead. Validate the Debt.

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How to Remove Convergent Outsourcing From Your Credit Report

Better Credit Blog

If you have started hearing from a company called Convergent Outsourcing, it means that you are being pursued for a debt. Besides being annoying and aggressive, debt collectors like Convergent Outsourcing can have a major impact on your credit score. Validate the Debt. What is Convergent Outsourcing? Know Your Rights.