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Connecticut Department of Banking Fines Law Firm $100,000 for Collecting Without a License

Troutman Sanders

On December 1, the Connecticut Department of Banking issued a cease and desist order to the Law Offices of David M. Katz mandating the law firm cease conducting collection activities in the state without a license. The law firm was also fined $100,000, the maximum allowed by law.

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Can a Debt Collection Law Firm Act as a Debt Collection Agency?

FFGN COLLECT NY

When a debtor owes a creditor money and the creditor is seeking assistance collecting the amount owed, the creditor can either use a collection law firm or a collection agency. Law firms and collection agencies serve the same purpose initially.

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Trust Fund Payment Processing for Law Firms

Payment Savvy

Most people think that payment processing for law firms is a simple and straightforward process. A trust account is a bank account used to receive payments received by clients or debtors. Due to the above reasons, law firms need to adopt an advanced payment processing system.

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Deeming the Tracking of a Debtor’s Every Move “Impractical,” District Court Finds a Bona Fide Error and Dismisses FDCPA Action Against Law Firm

Consumer Financial Services Law

A district court has dismissed an FDCPA action based on a bona fide error after reviewing the collection firm’s extensive pre-suit procedures and determining they were reasonably calculated to avoid any errors. In 2006, Mr. Guynn, opened a personal credit card with Bank of America. LEXIS 43032 (S.D. March 14, 2018).

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9th Cir. Reverses Trial Court Ruling in Favor of Defendant on FDCPA Claim Related to Bankruptcy

Collection Industry News

Wells Fargo Bank , N.A., In January 2009, after a homeowner (“debtor”) fell behind on his homeowners’ association (HOA) dues, a law firm acting as a debt collector for the HOA sent notices to the debtor regarding the unpaid debt. In so ruling, the Ninth Circuit concluded that its holding in Walls v.

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How Can a Secured Creditor Repossess Collateral Without Breaching the Peace?

Jimerson Firm

Florida courts have established a two-part test to determine if a secured creditor “breached the peace” within the meaning of Section 679.609(2)(b) of the Florida Statutes: “(1) whether there was entry by the creditor upon the debtor’s premises; and (2) whether the debtor or one acting on his behalf consented to the entry and repossession.”

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Civil Litigation for Commercial Debt

Debt RR

Your legal action as a plaintiff is filed in the appropriate court, setting the stage for a lawsuit that obtains financial compensation from the debtor, referred to as the defendant. The next step is to serve the commercial debtor with notice of the lawsuit in the form of the summons and complaint filed with the court.