Jimerson Firm

FEBRUARY 10, 2022

At the same time, however, the account owner/debtor is still responsible for the balance, and the lender/creditor can still make an effort to collect what is owed, with obvious exceptions being discharged or dischargeable bankruptcy filings. Collecting Debts After 1099-C Issuance. Charging Off” Uncollectable Debt. 1.6050P-1(b)(2)(i).

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Lender Credit Unions Credit Unions Collections 98

Jimerson Firm

FEBRUARY 22, 2024

The Florida Consumer Collection Practices Act (FCCPA) is a pro-consumer statute. Unlike the FDCPA, which only applies to debt collectors, the FCCPA applies to all persons or businesses collecting consumer debts. As such, all businesses need to be aware of the statute and the risk and potential liability associated with the statute.

Debtor 59

Debtor Lawyers Consumer Collections Legal Rights 59

Troutman Sanders

SEPTEMBER 15, 2023

In the press release announcing the issuance of the report, CFPB Director Rohit Chopra stated, “[t]uition payment plans offered by schools may look like a good option, but this report shows student borrowers can end up paying high fees, be forced to sign away their legal rights, or even have their transcript withheld by their school.”

Student loans 52

Student loans Student Loans Legal Rights Education 52

Troutman Sanders

FEBRUARY 28, 2022

In late January, the Consumer Financial Protection Bureau (CFPB) released its 2022 “ List of Consumer Reporting Companies.” This list purports to give consumers “the details [they] need to take action” against companies that collect consumer information and prepare consumer reports.

Legal Rights 52

Legal Rights Financial services Collection Companies Collections 52

Jimerson Firm

DECEMBER 14, 2021

Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. A person attempting to collect his or her “own” debt, is not a debt collector under the FDCPA. See Stanley v.

Debt collector 105

Debt collector Fair Debt Collection Consumer Collections Legal Rights 105

Jimerson Firm

JANUARY 12, 2024

In collecting consumer debts, no person shall: (9) Claim, attempt, or threaten to enforce a debt when such person knows that the debt is not legitimate, or assert the existence of some other legal right when such person knows that the right does not exist. Section 559.72(9) 9) , provides as follows: 559.72 Prohibited

Consumer Collections 59

Consumer Collections Legal Rights Collections Banks 59

Troutman Sanders

NOVEMBER 8, 2022

The rules also establish a fairer process for borrowers to raise a defense to repayment, while preserving the borrowers’ day in court by preventing institutions of higher education (institutions) from forcing students to sign away their legal rights using mandatory arbitration agreements and class-action waivers.

Financial services 52

Financial services Student loans Student Loans Garnishment 52