Debt Free Colorado

FEBRUARY 21, 2022

Does Colorado Law Protect Me From Debt Collectors? 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. What is the Federal Fair Debt Collection Practices Act (FDCPA)?

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Collection Industry News

JUNE 7, 2021

A debt collector’s offer to settle an outstanding debt didn’t need to inform the consumer that their balance could increase due to interest and fees, because it didn’t make the letter misleading under federal law, the Second Circuit said Friday. The company mailed him a number of collection notices.

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True Accord

APRIL 5, 2023

Directly impacting creditors and debt collectors, a January ruling from the District Court of Puerto Rico found that sending debt collection communications prior to any knowledge of a debtor’s bankruptcy filing is not a violation of the Fair Debt Collection Practices Act (FDCPA). And delinquency is trending.

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Better Credit Blog

APRIL 1, 2022

To remove Capital One Collections from your credit report, you first need to know who currently owns the debt. In other words, has Capital One sold your unpaid credit card debt to another collection agency, or is the debt still with Capital One? Why would this kind of debt settlement work?

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Troutman Sanders

AUGUST 29, 2023

District Court for the Western District of New York granted the plaintiff’s motion for class certification for alleged violations of the Fair Debt Collections Practices Act (FDCPA) relating to an allegedly improper debt assignment notification. In McCrobie v.

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Troutman Sanders

SEPTEMBER 13, 2023

Against this background, AG Bonta made recommendations to the agencies on how to protect consumers from harm in their use of medical payment products, including: The agencies should designate medical credit card debt as medical debt, not consumer debt, to ensure consumers receive the appropriate statutory protections.

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Consumer Finance Watch

DECEMBER 12, 2019

The Supreme Court of the United States (“Supreme Court”) recently affirmed the Third Circuit’s decision holding Fair Debt Collection Practices Act (“FDCPA”) claims are subject to a one-year statute of limitations from the date of an alleged violation and rejecting the Fourth and Ninth Circuit’s adoption of a broad “discovery rule.”

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Katabat

AUGUST 4, 2021

Pandemic’s “Credit Card Debt Paydown Miracle” May be Ending. Lots of people made lots of progress paying down debt and we would not have thought that at the outset of the pandemic,” said Ted Rossman, Senior Industry Analyst at CreditCards.com. 30, 2021 Effective Date for Debt Collection Final Rules.

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Katabat

AUGUST 4, 2021

Pandemic’s “Credit Card Debt Paydown Miracle” May be Ending. Lots of people made lots of progress paying down debt and we would not have thought that at the outset of the pandemic,” said Ted Rossman, Senior Industry Analyst at CreditCards.com. 30, 2021 Effective Date for Debt Collection Final Rules.

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Sawin & Shea

SEPTEMBER 27, 2023

The money earned from these sales then goes to the creditors and any remaining balances on the debts are discharged. If the court grants a judgment in favor of the creditor, they have additional collection options, such as wage garnishment, bank account levies, or placing liens on the debtor’s property.

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FFGN COLLECT NY

MARCH 10, 2023

Although, in some scenarios, a hybrid situation can occur, understanding the definition of consumer debt and commercial debt is key. Consumer debt refers to any debt incurred for personal, family, or household purposes such as credit card debt and medical bills.

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FFGN COLLECT NY

DECEMBER 12, 2023

You must inform consumers of their rights during the debt collection process. The attorney or debt collector must explicitly identify the debt collection activities allowed by the Fair Debt Collection Practices Act.

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Troutman Sanders

APRIL 7, 2021

Candace Moyer failed to pay her credit card debt, and the account was placed with a debt collector, which sent Moyer a one-page, single-sided collection letter that stated, “If you wish to eliminate further collection action, please contact us” above a validation notice requiring disputes to be in writing.

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Troutman Sanders

OCTOBER 26, 2020

Plaintiff Joseph Degroot defaulted on a credit card debt, which was subsequently placed with a collection agency. The agency sent the plaintiff a collection letter stating that “interest and fees are no longer being added to your account,” which the plaintiff took to mean that the account had been charged off.

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Better Credit Blog

APRIL 4, 2022

Regardless of what a debt collector might tell you, you have a lot of rights when it comes to how debt can be collected. In fact, merely mentioning that you understand your rights will, many times, stop debt collectors in their tracks. Your rights come from the Fair Debt Collection Practices Act (FDCPA).

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Collection Industry News

JUNE 1, 2023

Governments and regulatory bodies continually strive to strike a balance between consumer protection and enabling efficient debt recovery. New regulations, such as the implementation of the Consumer Financial Protection Bureau (CFPB) in the United States, aim to ensure fair debt collection practices and enhance consumer rights.

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Better Credit Blog

OCTOBER 16, 2020

The agency collects on various types of debts, such as: Consumer finance debt. Credit card debt. Retail debt. 3 Ways to Remove Asset Acceptance LLC from Your Credit Report. So how exactly does Asset Acceptance get a hold of your credit card debt or the balance on your utility bill?

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy may affect your credit score (it sometimes can make your score better!), Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits.

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True Accord

MARCH 29, 2023

Let’s look at why today’s economic landscape makes omnichannel engagement critical for collections and how your business can get there. Delinquencies are Rising—And Call Centers Can’t Keep Up The first quarter of the year revealed that Americans have almost reached $1 trillion in credit card debt, breaking a record set in 2019.

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Troutman Sanders

DECEMBER 7, 2021

On December 1, the Federal Reserve Board and the CFPB announced the dollar thresholds that determine exemption of certain consumer credit and lease transactions in 2022, from Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing). On November 30, Regulation F of the Fair Debt Collection Practices Act became effective.

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Better Credit Blog

FEBRUARY 4, 2021

DFS primarily collects on healthcare debt, as well as: Commercial debt. Credit card debt. Utility debt. If you are overwhelmed by dealing with negative entries on your credit report, we suggest you ask a professional credit repair company for help. Phoenix, Arizona 85053. and 9 p.m.

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Credit Corp

AUGUST 31, 2021

Some debt buyers —companies that buy and try to collect very old debts—still go after borrowers and might even take them to court. If they do this knowing that the debt is past the statute of limitations, they may have violated the Fair Debt Collections Practices Act.

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Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. But it’s especially frustrating if your debt is several years old. Ask the creditor to send you written notice of the debt.

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Better Credit Blog

SEPTEMBER 9, 2020

They are headquartered in Farmingdale, NY, and are known as a “late-stage” debt collector, which means they may have purchased the right to collect the debt from the original creditor. Although Sunrise Credit Services is indeed a legitimate debt collector , they are not thought kindly of by their customers.

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Credit Corp

JULY 7, 2021

Either way, you have an old debt hanging out there. That’s what Credit.com reader Dave, who says he can’t afford to pay off the old debts he owes, asks: My credit card debt is roughly $12,000. What if you just decide to let it go and do nothing about it? I consulted a bankruptcy attorney.

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Better Credit Blog

OCTOBER 14, 2020

While you might not be familiar with Asset Recovery Solutions, it collects on a wide range of debts, such as: Auto loans. Consumer debts. Credit card debt. Retail debt. If you have any one of the types of debts listed above, you could be subject to collections attempts by Asset Recovery Solutions.

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Troutman Sanders

AUGUST 2, 2021

On July 30, the Consumer Financial Protection Bureau (CFPB) announced that two final rules issued under the Fair Debt Collection Practices Act will take effect as planned, on November 30. million, to people who lost money to credit card debt relief schemes. For more information, click here.

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Better Credit Blog

OCTOBER 21, 2020

The collections agency was founded in 2001 and is headquartered in Bloomington, Minnesota. ARI collects on a variety of debts, like: Bankruptcy. Credit card debt. Retail debt. When you fall behind on payments, your debt could be turned over to a collections agency like ARI.

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Better Credit Blog

OCTOBER 21, 2020

The collections agency was founded in 2001 and is headquartered in Bloomington, Minnesota. ARI collects on a variety of debts, like: Bankruptcy. Credit card debt. Retail debt. When you fall behind on payments, your debt could be turned over to a collections agency like ARI.

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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.

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Better Credit Blog

JANUARY 27, 2021

If you’re getting calls from a company called Debt Recovery Solutions, you probably have one or more unpaid bills to take care of. And this can range from credit card debt to hospital bills to utility fees. If you’re getting calls from them, this can mean trouble for your credit.

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Collection Industry News

SEPTEMBER 23, 2020

And debt buyers often lack the necessary documentation to prove either that they have the right to pursue the claim or that the amount owed is accurate. If a debt buyer or collection agency has violated a consumer protection statute such as the Fair Debt Collection Practices Act (FDCPA)–and they often do–that provides leverage to fight back.

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