Troutman Sanders

SEPTEMBER 21, 2022

A recent federal district court opinion highlights the potential pitfalls associated with renewals of unsatisfied default judgments. serves as a reminder that judgment creditors must still tread carefully when seeking to collect on, or revive, judgments from yesteryear. The case, Sarah Pitera v.

Collections 52

Collections Judgment Fair Debt Collection Creditors 52

Collection Industry News

OCTOBER 12, 2020

Here’s some bedrock—debt collectors can call numbers supplied by the consumer to an original creditor as part of a credit transaction. Things can get dicey where the consumer switches number or the collector doesn’t have access to the original data supplied to the creditor, so watch out if that’s the case.

Debt collector 40

Debt collector Creditors Original Creditor Judgment 40

Troutman Sanders

JULY 30, 2021

July 22, 2021), the Eastern District of Michigan granted summary judgment in favor of a debt collector, holding that it did not violate the Fair Debt Collections Practices Act (FDCPA) by failing to report that the plaintiff disputed the debt at issue. to collect from plaintiff, Florence Burns (Burns).

Debt collector 52

Debt collector Judgment Fair Debt Collection Original Creditor 52

Collection Industry News

AUGUST 8, 2022

15 provides the Private Student Loan Collections Reform Act, which is contained in Sections 1788.200 to 1788.211. Section 1788.205 provides that, in an action brought by a private education lender or private education loan collector to collect a private education loan, the complaint must allege specified information. Title 1.6C.15

Student loans 40

Student loans Student Loans Loans Education 40

Troutman Sanders

NOVEMBER 16, 2021

The Act amends provisions of New York’s Civil Practice Law and Rules, commonly referred to as the CPLR, and the Judiciary Law to require original creditors and third-party debt collectors to include certain information and documents when filing and prosecuting debt collection actions.

Third-party Debt Collectors 52

Third-party Debt Collectors Consumer Credit Original Creditor Debt collector 52

Credit Corp

JUNE 3, 2021

But it takes a lot to get to that scenario, so if you’re not there yet you still have time to learn how to protect yourself from this type of collections activity. How to Open a Bank Account That No Creditor Can Touch. How to Open a Bank Account That No Creditor Can Touch. Here are a few: Trust accounts. Custodial accounts.

Debt collector 92

Debt collector Banks Garnishment Creditors 92

Collection Industry News

MARCH 23, 2021

Court of Appeals for the Third Circuit recently held that a debt collector did not violate the federal Fair Debt Collection Practices Act (FDCPA) when it sent a consumer a collection letter inviting her to “eliminate further collection action” by calling the company, when in fact only written communication could legally stop collection activity.

Debt collector 40

Debt collector Collections Original Creditor Judgment 40

FFGN COLLECT NY

DECEMBER 12, 2023

Is there a law in NYC that protects consumers and debtors from debt collecting agencies, businesses, and their attorneys? In this case, you should uphold your consumer rights to ensure ethical practices during the debt collection process. Consumers must be aware that the debt they are being collected for is valid.

Debtor 52

Debtor Debt collector Debt Buying Original Creditor 52

Credit Corp

JUNE 14, 2020

The most common cases of zombie debt involve collection activities. Here’s one example of how a zombie might rise with help from a collection agency. The original lender or collection agency fails to collect within the statute of limitations. Zombie Debts and Judgments. You default on a debt.

Debt collector 98

Debt collector Judgment Collection Agencies Collections Agency 98

Debt Free Colorado

FEBRUARY 21, 2022

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. You have rights to help you gain control over your debt collection interactions. Call or text you to collect a debt between 8 a.m.

Debt collector 98

Debt collector Fair Debt Collection Collection Agencies Collections Agency 98

Credit Corp

AUGUST 31, 2021

Can a debt collector collect after 10 years, for example? Can a debt collector collect after 10 years? Time-barred debts and your credit report What to do if you are contacted about an old debt COVID-19 and debt collections. Can a Debt Collector Collect After 10 Years? Find out in the informational guide below.

Debt collector 98

Debt collector Collections Collection Agencies Collections Agency 98

Collection Industry News

AUGUST 3, 2021

July 22, 2021), the Eastern District of Michigan granted summary judgment in favor of a debt collector, holding that it did not violate the Fair Debt Collections Practices Act (FDCPA) by failing to report that the plaintiff disputed the debt at issue. to collect from plaintiff, Florence Burns (Burns).

Debt collector 40

Debt collector Judgment Fair Debt Collection Original Creditor 40

Troutman Sanders

JANUARY 12, 2023

On January 11, the Consumer Financial Protection Bureau (CFPB) announced it reached a settlement with law firm Forster & Garbus, LLP in its lawsuit over alleged illegal debt collection practices. In doing so, the CFPB alleged (similar to its previous actions involving the law firms Frederick J.

Law Firms 52

Law Firms Judgment Fair Debt Collection Bankruptcy 52

Troutman Sanders

OCTOBER 17, 2023

In 2010, the defendant purchased the account and placed it with a law firm for collection. The trial court granted summary judgment to the defendant on all claims finding that because the defendant was not a consumer lender it was not required to obtain the license at issue.

Law Firms 52

Law Firms Legal Rights Original Creditor Collection Agencies 52

National Service Bureau

MAY 27, 2015

Medical collections are a particularly difficult field - they demand tact, human dignity, and effective collection tactics all at the same time. Nearly half of all medical collection complaints filed with the CFPB in 2014 regarded continued attempts to collect a debt not owed.

Collections 40

Collections Debt collector Collection Agencies Collections Agency 40

Credit Management Company

AUGUST 9, 2022

While many consumers are able to manage their debt load and stay current on their accounts, many businesses are finding themselves with uncollected debt and no proven collection strategy. Before you can collect on any debt, you need to validate the debt in accordance with the Fair Debt Collection Practices Act.

Debt collector 52

Debt collector Debtor Fair Debt Collection Original Creditor 52

Debt Collection Answers

MAY 18, 2023

Like all other debt collectors, DNF Associates, LLC depends on multiple sources of information to pursue debt collection. They can request a default judgment from the court if they contact you and you fail to respond within 20 days. Typically, DNF Associates purchase these debts for as low as 10% of the original amount owed.

Acquisition 52

Acquisition Garnishment Judgment Banks 52

Troutman Sanders

AUGUST 26, 2020

The collection letter from the debt collector included a request for repayment of principal and interest. The defendant argued that it relied on information provided by the original creditor, based on which it should be entitled to the bona fide error (BFE) defense.

Debt collector 52

Debt collector Fair Debt Collection Creditors Original Creditor 52

Collection Industry News

JANUARY 29, 2021

The debt collector may select one of five reference dates as the itemization date: 1) the last statement date; 2) the charge-off date; 3) the last payment date; 4) the transaction date; or 5) the judgment date; and. The final rule follows a related final rule on debt collection practices issued by the CFPB in November 2020.

Debt collector 40

Debt collector Collections Creditors Original Creditor 40

Debt RR

AUGUST 3, 2020

Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Here’s everything businesses need to know about commercial debt collection agencies and how to manage communication without disrupting day-to-day operations. How Long Can a Debt be Pursued?

Collection Agencies 43

Collection Agencies Collections Agency Debt collector Collections 43

Troutman Sanders

OCTOBER 12, 2021

district judge in Arkansas recently granted the defendant McKendra Adams’s (Adams) motion to dismiss for lack of standing involving an alleged violation of the Fair Debt Collection Practices Act (FDCPA). Adams , a U.S. The case began when Cheatham defaulted on a car loan and surrendered the vehicle, which was sold at auction. Title 15 U.S.C.

Debt collector 52

Debt collector Fair Debt Collection Judgment Creditors 52

Consumer Financial Services Law

JANUARY 22, 2021

Enloe On December 18, 2020, the CFPB published the remainder of its Final Debt Collection Rule (the “Rule”) highlighting its crown jewel - the provisions centering around debt validation notices. of the Rule prohibits legal actions or threats of legal actions against a consumer to collect time-barred debts. By Caren D. Section 1006.2(c)

Debt collector 40

Debt collector Collections Creditors Original Creditor 40

Credit Corp

JUNE 14, 2023

A charge-off is when the creditor officially writes your debt off its books as a loss. Keep in mind that a creditor writing off your unpaid debt as a loss doesn’t mean you don’t owe the debt. Your creditor may sell your charged-off debt to a collection agency for pennies on the dollar.

Foreclosure 89

Foreclosure Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy 89

Collection Industry News

NOVEMBER 2, 2020

In Preston , the debt collector sent a collection letter that was inside of an envelope, which itself was inside another envelope. Creditor ID Claims—A Mixed Bag. Justice Barrett sat on two different panels that reviewed the issue of whether the debt collector sufficiently identified the creditor to whom the debt is owed.

Debt collector 40

Debt collector Judgment Creditors Construction 40

Better Credit Blog

APRIL 1, 2022

Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. Collection). Write a letter to the original creditor or collection agency and ask them to remove the negative entry from your credit history as an act of goodwill.

Bankruptcy 114

Bankruptcy Collection Agencies Collections Agency Lender 114

Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss. Ask Lex Law for Help.

Debt collector 87

Debt collector Collection Agencies Collections Agency Garnishment 87

The McHughes Law Firm

JULY 12, 2016

It’s important to respond to any communications and document each step of the process when resolving your outstanding debt through a debt collection attorney. Because of their involvement in collecting money you owe a creditor, you may be contacted via a phone call or a letter from a debt collection attorney.

Collections 40

Collections Law Firms Garnishment Creditors 40

BN Lawyers

JANUARY 14, 2019

A debt collector is free to collect during the thirty-day period as long as it does not overshadow or contradict the consumer’s thirty-day rights. Whether easy or difficult, the Act mandates that the debt collector cease its collection efforts until the required information has been mailed to the consumer.

Foreclosure 40

Foreclosure Debt collector Collections Chapter 13 bankruptcy 40

Better Credit Blog

APRIL 1, 2022

If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. In fact, they are a multifaceted company that can be a part of the debt collection process in the early stages (pre-charge of recovery) or the post-collection stage.

Collection Agencies 77

Collection Agencies Collections Agency Garnishment Fair Debt Collection 77

Consumer Financial Services Law

MAY 25, 2021

Preferred Collection and Management Services, Inc., While the case will continue to be contested in the Eleventh Circuit, collection agencies and others who rely upon third party vendors have been left to contemplate what comes next. It does not mean that the consumer is entitled to a judgment for damages or will ultimately prevail.

Debt collector 40

Debt collector Collection Agencies Collections Agency Collections 40

Debt RR

DECEMBER 13, 2019

When faced with mounting debt, it’s inevitable that someone will come to collect. When courts get involved, debt collection gets serious. Creditors usually send several notices prior to filing a complaint with the court. There are two other conditions that must be met for a creditor to serve papers on a debtor.

Debt collector 42

Debt collector Debtor Bankruptcy Creditors 42

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. See 15 U.S.C. 1692g(a)(1), (2). 1692g(a)(4).

Debt collector 40

Debt collector Debtor Creditors Original Creditor 40

Troutman Sanders

MARCH 22, 2023

An Illinois federal district court recently denied a creditor-defendant’s motion for summary judgment in a Fair Credit Reporting Act (FCRA) case brought by a consumer who questioned why his debt was being reported twice — as both a tradeline with the original creditor and as a tradeline with a third-party collection agency.

Judgment 52

Judgment Credit Unions Credit Unions Collection Agencies 52

FDCPA Defense

JANUARY 28, 2012

Even original creditors, who are not subject to the FDCPA, are being drawn into FDCPA litigation under various theories of recovery. For example, generally speaking, the Act applies only to “debt collectors” who regularly attempt to collect debts that are “due another.” Retrieval Masters Creditor Bureau, Inc. ,

Debt collector 40

Debt collector Retrieval Creditors Original Creditor 40

FDCPA Defense

MARCH 2, 2014

The Dodd-Frank Act gave the Consumer Financial Protection Bureau (“CFPB”) sweeping authority to prohibit the use of “unfair, deceptive or abusive” acts or practices (“UDAAPs”) in connection with the collection of consumer debts. The Asset Consent Decree also reflects the FTC’s hostility to collecting time-barred debts.

Debtor 40

Debtor Banks Original Creditor Collections 40

FDCPA Defense

JANUARY 22, 2017

(This post is adopted from the materials presented at the CAI Law Seminar in Las Vegas, Nevada on January 20, 2017) Demystifying the FDCPA Class Action For HOA Attorneys Consumer attorneys have been filing FDCPA class actions against collection attorneys for decades, and the pace of those filings has increased sharply in the past ten years.

Collections 40

Collections Judgment Creditors Law Firms 40

Troutman Sanders

OCTOBER 13, 2023

As background, ECOA prohibits discrimination by a creditor on the basis of race, color, religion, national origin, sex, marital status, age, an applicant’s receipt of public assistance, or the good faith exercise of an applicant’s rights under the Consumer Credit Protection Act. Yesterday, the U.S. ECOA is implemented by Regulation B.

Creditors 52

Creditors Original Creditor Loans Judgment 52