Titan Consulting

SEPTEMBER 22, 2020

Multiple state and federal agencies strictly regulate the debt settlement industry. All types of debt relief programs come with negative consequences, including non-profit credit counseling and bankruptcy, and will directly or indirectly negatively impact your credit score. State and Federal Regulations for Debt Settlement.

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Troutman Sanders

APRIL 19, 2021

Federal Activities: On April 19, the Consumer Financial Protection Bureau (CFPB) announced that the 30-day comment period on the CFPB’s proposal to delay the effective date of Regulation F, its Debt Collection Rule, is open. For more information, click here.

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Troutman Sanders

NOVEMBER 1, 2021

LTD Financial Services, L.P. , LTD Financial Services, L.P. , The plaintiff owed a debt of $4,528.59 In Bordeaux v. 2:16-0243 (KSH) (CLW) (D.N.J 2:16-0243 (KSH) (CLW) (D.N.J The District of New Jersey rejected these claims, finding that the letters were not false or misleading.

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Consumer Financial Services Law

JANUARY 11, 2017

A New York District Court recently addressed the issue of whether the FDCPA requires passive debt buyers to personally register disputes or whether they can delegate that obligation to their third party debt collector/servicer. Passive debt buyers purchase debt but retain third parties to service and collect the debt.

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Collection Industry News

MARCH 28, 2022

The DFPI investigations resulted in 49 public enforcement actions, $975,000 in restitution to consumers, $547,500 in penalties, and included several “first of its kind” actions for the DFPI in debt collection, student debt relief, earned wage access, and private post-secondary education financing. Regulatory Activities.

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Troutman Sanders

JANUARY 20, 2022

Beyond the student loan and mortgage context, state attorney generals have advanced this theory in their investigations of auto lenders [4] and debt settlement companies. [5]. However, this concern seems to be evolving into additional products. 1, 2021), [link] ; See e.g., Final Judgment, Commonwealth v.

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Troutman Sanders

NOVEMBER 15, 2022

On November 8, Arizona voters approved a measure, limiting medical debt collection. Proposition 209, or the Predatory Debt Collection Act, lowers the interest rate cap on medical debt and also increases the value of assets shielded from certain creditors. For more information, click here.

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