Troutman Sanders

AUGUST 29, 2023

District Court for the Western District of New York granted the plaintiff’s motion for class certification for alleged violations of the Fair Debt Collections Practices Act (FDCPA) relating to an allegedly improper debt assignment notification. The default judgment was later assigned to Palisades Acquisition.

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Debt Free Colorado

FEBRUARY 21, 2022

Does Colorado Law Protect Me From Debt Collectors? 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. What is the Federal Fair Debt Collection Practices Act (FDCPA)?

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Better Credit Blog

MARCH 1, 2021

Is Bank of America bringing down your credit score? If your credit report is displaying a collections account for Bank of America, it’s probably because you missed a payment somewhere down the line. How you should respond to a collections entry from Bank of American depends on several factors. Hunt and Henrique’s.

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Better Credit Blog

MARCH 1, 2021

Is Bank of America bringing down your credit score? If your credit report is displaying a collections account for Bank of America, it’s probably because you missed a payment somewhere down the line. How you should respond to a collections entry from Bank of American depends on several factors. Hunt and Henrique’s.

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Troutman Sanders

NOVEMBER 11, 2022

Statewide Collection, Inc., 1, 2022) , the Ninth Circuit affirmed an award of attorneys’ fees in favor of the plaintiff in an action brought under the Fair Debt Collections Practices Act (FDCPA). The plaintiff, Leah Hanrahan, incurred a medical bill that was sent to defendant Statewide Collection, Inc.

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Troutman Sanders

APRIL 27, 2023

Jonathan helps businesses navigate and litigate the myriad consumer and financial services laws, particularly with the many “alphabet soup” federal consumer protection statutes, such as the Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), and Fair Credit Reporting Act (FCRA).

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Troutman Sanders

SEPTEMBER 7, 2023

The Seventh Circuit Court of Appeals recently affirmed a district court’s dismissal of a suit holding that the plaintiff had not suffered a concrete injury, and therefore, lacked standing to assert a claim under the Fair Debt Collections Practices Act (FDCPA). The bank sold the debt to the defendant creditor.

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FFGN COLLECT NY

JUNE 14, 2023

First, if either the collection agency or collection law firm engage in collecting debt from consumers for personal, household, or medical debts, they are subject to the Fair Debt Collection Practices Act (FDCPA). The post Can a Debt Collection Law Firm Act as a Debt Collection Agency?

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The Kaplan Group

OCTOBER 19, 2020

FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals. A judgment is the official result of a lawsuit in court.

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Credit Corp

JUNE 14, 2020

Zombie Debts and Judgments. If the original creditor went to court and obtained a judgment against you for a debt, the zombie debt cycle can be more complicated. First, judgments provide the creditor with the legal means to collect via actions such as wage garnishments or bank account liens.

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Sawin & Shea

SEPTEMBER 27, 2023

In some cases, debt collectors may take legal action by filing a lawsuit against you to obtain a court judgment. If the court grants a judgment in favor of the creditor, they have additional collection options, such as wage garnishment, bank account levies, or placing liens on the debtor’s property.

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Troutman Sanders

APRIL 13, 2021

On April 6, the Consumer Financial Protection Bureau (CFPB) issued a consent order against California-based debt collector Yorba Capital Management LLC and its sole owner Daniel Portilla, Jr. for violating the Consumer Financial Protection Act and the Fair Debt Collection Practices Act.

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FDCPA Defense

SEPTEMBER 26, 2017

Can a bank be sued for acting as a “debt collector” under the California Rosenthal Act? You are probably tempted to answer “yes” it can, because you know the Act defines a “debt collector” to include an entity that is collecting on behalf of itself or on behalf of third parties. Probably not. See, e.g., Gold v.

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Troutman Sanders

OCTOBER 15, 2020

Axiom Acquisition Ventures, LLC (“Axiom”) bought Robert Valenzuela’s consumer debt from a bank after he allegedly defaulted on his personal loan payments. Axiom sent Valenzuela a letter informing him that his debt had been reassigned and instructing him to remit future payments to Axiom.

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Collection Industry News

JUNE 1, 2023

Governments and regulatory bodies continually strive to strike a balance between consumer protection and enabling efficient debt recovery. New regulations, such as the implementation of the Consumer Financial Protection Bureau (CFPB) in the United States, aim to ensure fair debt collection practices and enhance consumer rights.

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Collection Industry News

OCTOBER 27, 2020

Axiom Acquisition Ventures, LLC (“Axiom”) bought Robert Valenzuela’s consumer debt from a bank after he allegedly defaulted on his personal loan payments. Axiom sent Valenzuela a letter informing him that his debt had been reassigned and instructing him to remit future payments to Axiom.

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Credit Management Company

JULY 14, 2021

Everyone in the debt collection industry is familiar with the Fair Debt Collections Practices Act (FDCPA). Reputable collections agencies willingly follow these rules and treat patients with compassion and respect. The CFPB never said it wanted to stop collections agencies from performing their jobs.

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Collection Industry News

JANUARY 25, 2021

The debt at issue involves plaintiff-appellant Francina Smith and her Sam’s Club credit card obtained through Synchrony Bank. The bank in 2016 hired GC Services to collect an allegedly unpaid balance on Smith’s card. She is no worse off than if the letter had told her that she could dispute the debt orally.

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Jimerson Firm

JANUARY 17, 2023

The Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA) are two pro-consumer statutes. Household Bank, Ltd. , is board certified in business litigation by the Florida Bar and practices in the firm’s banking and financial services industry team. In Laughlin v.

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Troutman Sanders

AUGUST 23, 2023

Finally, the order also includes a monetary judgment in the amount of $73,076,930, but only requires defendant Shapiro to pay $250,000. The remainder of the monetary judgment is suspended due to the defendants’ “financial situation.” She also served as Virginia’s attorney general from 2005-2006.

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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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Credit Corp

DECEMBER 14, 2020

This is because they know that most borrowers who are sued for old debts won’t show up in court, and the judge will issue a default judgment. Judgments may give collectors additional collection powers, such as access to the money a debtor has in his or her bank account or the ability to garnish wages to collect the judgment.

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Troutman Sanders

MAY 21, 2021

Yet another Seventh Circuit decision has affirmed that a violation of the Fair Debt Collection Practices Act (FDCPA) does not, by itself, create an injury-in-fact sufficient for Article III standing. The opinion pointed to the more recent Supreme Court case Thole v.

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Better Credit Blog

APRIL 1, 2022

Make sure to follow through, because credit agencies can turn a simple collection into a judgment, legally garnishing wages or your bank account, you will be required to pay the full debt as well as legal fees. Debt Validation. Do not be fooled and simply know your rights.

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Jimerson Firm

JULY 21, 2021

Nevertheless, there appears to be an increase in class action complaints alleging violations of consumer protection laws such as Fair Debt Collection Practices Act (FDCPA), Florida’s Consumer Collections Practices Act (FCCPA), Fair Credit Reporting Act (FCRA), or Telephone Consumer Protection Act (TCPA).

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Credit Corp

AUGUST 31, 2021

If they do this knowing that the debt is past the statute of limitations, they may have violated the Fair Debt Collections Practices Act. But they also know that most borrowers who are sued for old debts won’t show up in court, and the judge will issue a default judgment. Always respond to legal summons.

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Troutman Sanders

OCTOBER 20, 2023

It further assured the public that the award would be drawn from a reserve account maintained for adverse legal judgments — not from taxpayer funds. In response to the award, the Washington AG remarked that this case is its first consumer protection loss since 2012. Savers promised to donate more than $1 million of the fee award to charities.

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Debt RR

AUGUST 3, 2020

Depending on the nature of the debt and how communicative the debtor is (or isn’t), commercial debt collectors can employ other tactics like investigating other debt and performing a skip trace on the owner to establish contact. This could lead to bank account garnishment.

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Collection Industry News

MAY 18, 2021

In a separate letter to lawmakers , NAFCU, CUNA and other organizations from the banking industry, including the American Bankers Association and the Independent Community Bankers of America, wrote similar objections to the bill. Specifically, the organizations opposed Title VIII of H.R.

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Better Credit Blog

APRIL 3, 2022

If you’re hearing from this Norfolk, Virginia-based collection agency, you owe the agency money, and it has a strong incentive to collect on your debt. When you hear from Portfolio Recovery (or any other debt collector), let the agency know that you know your rights. Make Them Prove the Debt is Yours.

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Collection Industry News

DECEMBER 21, 2020

Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a defendant debt collector against claims that it violated the federal Fair Debt Collection Practices Act (FDCPA) by attempting to collect a debt that was discharged in bankruptcy and no longer owed.

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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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Better Credit Blog

FEBRUARY 24, 2021

But FNCB is hired by businesses to collect on debts. If you’ve fallen behind on payments in an industry like one of the ones listed below, it could be to blame for the collections entry on your report: Bank credit cards. Fortunately, you have rights under the Fair Debt Collection Practices Act.

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Better Credit Blog

DECEMBER 2, 2020

The collections agency has been around since 2003, collecting on automobile debts across the country. billion of consumer auto debt, purchased from banks and auto financers. Some complaints are concerned with the agency’s failure to respond to requests for debt validation and their faulty reporting.

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Better Credit Blog

FEBRUARY 24, 2021

But FNCB is hired by businesses to collect on debts. If you’ve fallen behind on payments in an industry like one of the ones listed below, it could be to blame for the collections entry on your report: Bank credit cards. Fortunately, you have rights under the Fair Debt Collection Practices Act.

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Better Credit Blog

FEBRUARY 15, 2021

How FCO Collections Works. If you miss a payment, your landlord, cable provider, lender, or bank will contact you repeatedly to seek repayment. Unless you settle your account, it will eventually enter collections. Ask Lex Law for Help. It also has provisions to help ensure accurate reporting, which we’ll cover below.

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National Service Bureau

NOVEMBER 20, 2015

Earlier this summer, the Consumer Financial Protection Bureau issued a ruling against Discover Bank to the tune of $18.5 He then continued to receive phone calls from the collection agency. As always, the legislative landscape is constantly changing for debt collectors and collection agencies.

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