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Why The CFPB's Position On Time-Barred Debt Is Bad For Consumers

FDCPA Defense

For example, in the February 2009 report issued by the FTC entitled “Collecting Consumer Debts: The Challenges Of Change ” the FTC reminded us: “ Consumer credit is a critical component of today’s economy. Indeed, the FTC and CFPB have repeatedly told us that you are right.

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Is The CFBP's Position On Credit Reporting Statements Consistent With The Case Law?

FDCPA Defense

During the past three decades, district courts from around the country have repeatedly held that collectors may properly inform consumers about adverse credit consequences resulting from their failure to pay. Credit Bureau of Georgia, 555 F. See, e.g., Wright v.

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Only "Material" Disputes Support A Claim Under Section 1692e(8) Of The FDCPA

FDCPA Defense

The Credit Recovery Co. , 1998) (section 1692e(8) "requires a debt collector who knows or should know that a given debt is disputed to disclose its disputed status to persons inquiring about a consumer's credit history.") (emphasis added); Sunga v. 3d 64, 67 (1st Cir. Rees Broome , 2010 WL 1138319, *4 (E.D.

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Will You Know A “Dispute” When You See It?

FDCPA Defense

A furnisher may deem a dispute to be “frivolous or irrelevant,” however, if the consumer fails to provide the furnisher with sufficient information to investigate. See 15 U.S.C. 1681s–2 (a)(8)(F)(i)(I); 16 C.F.R.