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.
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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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.
Sawin & Shea
AUGUST 24, 2020
Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt.
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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