Collection Industry News

OCTOBER 17, 2022

On October 10, the North Carolina attorney general announced a consent judgment with the president and CEO of two debt collection companies (collectively, “defendants”). According to the AG, in 2019, the AG sued the defendants for allegedly engaging in illegal debt collection practices.

Collections 40

Collections Collection Companies Judgment 40

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. Preferred Collection and Management Services, Inc. and what it could mean for the debt collection industry.

Collections 52

Collections Debt collector Collections Agency Collection Agencies 52

Collection Industry News

SEPTEMBER 8, 2020

Article 6 Investment Law 2020 stipulates that “Debt Collection Service” is one of the businesses that are prohibited from investment. This regulation will come into force on 1 January 2021, whereby service contracts for debt collection concluded before that will be invalidated. Entities are performing debt collection activities.

Collections 53

Collections Debt collector Debt Recovery Judgment Enforcement 53

Troutman Sanders

JULY 31, 2020

The Middle District of Pennsylvania recently held that including line items for interest and fees in a debt collection letter when no interest or fees are sought does not violate the Fair Debt Collections Practices Act (“FDCPA”). ACS”), seeking to collect a consumer debt. In Reyes v. Associated Credit Servs. ,

Collections 52

Collections Fair Debt Collection Debtor Judgment 52

Collection Industry News

APRIL 21, 2021

The CFPB recently issued a consent order against a debt collection company and its owner over alleged violations of the CFPA and FDCPA involving misleading notices sent to consumers. The consent order imposes an $860,000 judgment and a permanent ban from any debt collection activities along with other requirements.

Debt collector 40

Debt collector Judgment Collection Companies Collections 40

Troutman Sanders

DECEMBER 7, 2020

Midwest Recovery Systems (“Midwest Recovery”), a debt collection company, must cease its alleged debt-parking practices, delete all reported debts, and surrender its remaining assets in partial payment of a $24.3 million monetary judgment, under a stipulated order filed by the Federal Trade Commission (“FTC”) last week.

Debt collector 64

Debt collector Trade Fair Debt Collection Judgment 64

Collection Industry News

JUNE 14, 2021

Jason Nocera anticipated law enforcement authorities might raid his debt collecting business. Consumer Financial Protection Bureau and the New York State Attorney General’s Office over his unlawful debt collection practices. MacKinnon and his companies were also permanently banned from debt collection. A judgment of $22.5

Debt collector 40

Debt collector Judgment Acquisition Collections 40

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. 1692d, 1692e, 1692f.

Bankruptcy 40

Bankruptcy Chapter 13 bankruptcy Law Firms Debtor 40

Collection Industry News

MAY 30, 2023

Ramirez , courts and litigants continue to grapple with standing issues in Fair Debt Collection Practices Act (FDCPA) cases brought by plaintiffs alleging intangible harms to reputation and privacy interests. Preferred Collection & Management Services. Prominent among these post-Ramirez FDCPA cases was Hunstein v.

Debt collector 40

Debt collector Fair Debt Collection Judgment Collection Companies 40

Collection Industry News

JUNE 14, 2021

Welcome to the world of illegal debt collections. The National Consumer Law Center calls Buffalo “an epicenter” of fraudulent debt collection activity. There are 156 debt collection companies – some of them legitimate, some not – in those two counties, employing more than 3,400 people, according to the state Labor Department.

Debt collector 40

Debt collector Judgment Collections Collection Companies 40

Troutman Sanders

MAY 6, 2021

A district court judge in California has certified a FDCPA letter class involving billing and collection letters sent by a collection company used by Hertz car rental agency. The plaintiff in DeNicolo v. Hertz Corp. See Denicolo v. The fact that the plaintiff was reimbursed by his employer did not persuade the judge.

Judgment 52

Judgment Collection Companies Collections 52

Better Credit Blog

APRIL 3, 2022

If you’re reading this article, I bet you’ve recently been contacted by a company called Portfolio Recovery Associates —and you may be wondering how to remove them from your credit report. Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts.

Debt collector 87

Debt collector Collections Agency Collection Agencies Garnishment 87

National Service Bureau

SEPTEMBER 30, 2015

There has been a lot of discussion in the collections business about automated dialing equipment over the last few years as it relates to new industry regulation (the Telephone Consumer Protection Act, TCPA) and its application in practice. First, in a 2013 judgment of Nelson v. Conclusion.

Accounts Receivables Management 40

Accounts Receivables Management Debtor Collections Collections Agency 40

FDCPA Defense

JANUARY 28, 2012

For example, generally speaking, the Act applies only to “debt collectors” who regularly attempt to collect debts that are “due another.” 2008) (sole member of LLC may be held liable under FDCPA if he plays a significant role in directing the firm’s debt collection activities). Capital Credit & Collection Servs.,

Debt collector 40

Debt collector Retrieval Original Creditor Creditors 40

FFGN COLLECT NY

JANUARY 31, 2024

That would include pursuing a Debt collection company that acts deceptively and fraudulently. Some Debt collection companies act wrongly and engage in Fraudulent and deceptive behaviors. The New York State Attorney General’s job is to protect the citizens of the State from bad actors.

Collection Companies 52

Collection Companies Collections Lawyers Garnishment 52

Collection Industry News

MAY 11, 2021

Miller, a Kenmore debt collector, is under investigation by federal Homeland Security Investigations agents for alleged wire fraud in connection with unlawful debt collecting. Miller, 48, denies any wrongdoing in his debt collection practices, claiming he has been unfairly targeted by lawyers, prosecutors and federal agents.

Debt collector 40

Debt collector Government Collections Collection Agent 40

Troutman Sanders

MAY 2, 2023

On April 26, the CFPB issued an advisory opinion, reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act. According to the CFPB, civil judgments are “both common and unevenly distributed.”

Financial services 52

Financial services Trade Government Consumer Credit 52