Collection Industry News

JULY 4, 2022

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on June 29, 2022, clarifying its view as to the legality under the Fair Debt Collection Practices Act (FDCPA) of “convenience fees” for optional methods of expedited payment not prescribed in the underlying loan documents, such as payment by phone or on the web.

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ABI

JANUARY 13, 2022

17] In the third step, the court split the parties’ claims into three categories (Bankruptcy Claims, FDCPA Claim, and Contract Claims) to consider whether Congress intended those claims to be non-arbitrable. [18] at 175–76 (noting that the FDCPA Claim was unlike the Bankruptcy Claims because of its non-defensive purpose). [21]

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Consumer Financial Services Law

APRIL 22, 2021

Enloe The FDCPA provides a bona fide error defense for debt collectors who can show by a preponderance of the evidence that their violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid any such error. By Caren D. 1692c and 1692e(11). Call Frequency.

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Consumer Financial Services Law

FEBRUARY 27, 2018

Merriam Webster Dictionar y The Third Circuit has refined its position as to whether collection of time-barred debt may violate the FDCPA where the communication involves an offer to settle. Tatis filed suit asserting that the letter violated section 1692e of the FDCPA. Tatis at *1-2.

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National Service Bureau

APRIL 15, 2015

Per Section 809 of the FDCPA, debt collectors are required to disclose certain information. Payday loan collections was the second worst category with 879 complaints. Section 809 of the FDCPA mandates that a debt collection agency provide written notification of such if it does not verbally inform the debtor on first communication.

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National Service Bureau

JUNE 18, 2015

Most agencies are aware that consumers are protected by the FDCPA from abusive acts and practices , but there are other intricacies of the law to be aware of.such as when a debt collector may contact a debtor. The restrictions in the FDCPA don’t apply to these persons in the same way as a typical collection agency.

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Consumer Financial Services Law

JANUARY 22, 2021

While the bulk of Part 2 addresses the parties’ obligations under Section 1692g of the FDCPA, the remainder of Part 2 ties up other loose ends, including time-barred debt, credit reporting, and communications where the consumer is deceased. While Section 1692d(3) of the FDCPA allows for credit reporting, the Section 1006.30(a)

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Credit Corp

JUNE 1, 2023

This is because collections fall under the category of payment history, which accounts for 35% of your FICO credit score , making it the biggest impact on your score. How Does Collections Debt Affect Your Credit Score? Collections debt shows up as a negative mark on your credit and, as a result, will significantly harm your credit.

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Burt and Associates

AUGUST 22, 2019

The Fair Debt Collection Practices Act (FDCPA) states that it’s illegal for collectors to intimidate or harass taxpayers. If you fall into any of these categories or represent someone who does, then you shouldn’t be getting calls from private tax debt collectors. No liens, threats or abuse.

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Troutman Sanders

NOVEMBER 21, 2023

On November 16, the Consumer Financial Protection Bureau (CFPB) published its Fair Debt Collection Practices Act (FDCPA) Annual Report to Congress. The report also recommends that service providers provide market surveillance measures. For more information, click here.

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FDCPA Defense

MAY 6, 2014

The Bureau made this point crystal clear in the Bulletin that it issued in July 2013 entitled “ Representations Regarding Effect of Debt Payments on Credit Reports and Scores ” where it claimed that making such statements might amount to a deceptive act or practice in violation of the FDCPA and the Dodd-Frank Act. Not really. 2d 896 (N.D.

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National Service Bureau

JUNE 10, 2015

Find out the type of clients most typically served and evaluate whether or not you fall into that category. FDCPA, TCPA, and HIPAA? All debt collection work falls under the Fair Debt Collection Practices Act (FDCPA). Debt collection can be further broken down by industry as well as by type of collection service.

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Troutman Sanders

MARCH 8, 2021

The bill will amend Section 1692c of the FDCPA to prohibit collectors from threatening to have a covered member reduced in rank, to have his/her security clearance revoked, or to have the covered member prosecuted under the Uniform Code of Military Justice. For more information, click here. On March 5, U.S.

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FDCPA Defense

NOVEMBER 11, 2014

Section 1692g of the FDCPA says collectors must provide notice to consumers within five days of the initial communication regarding the debt, stating the amount of the debt, the name of the current creditor, and explaining the consumer’s right to dispute the debt and to obtain verification. Doing so, however, can be risky. See Savino v.

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