Consumer Finance
OCTOBER 14, 2020
On October 15, 2020, the Consumer Financial Protection Bureau filed a proposed stipulated final judgment and order to settle its lawsuit against Encore Capital Group, Inc., and its subsidiaries.
Collection Industry News
OCTOBER 27, 2020
Midland Funding, LLC, Midland Credit Management, Inc., The stipulated final judgment and order will require the defendants to pay $79,308.81 The post CFPB settles lawsuit filed against debt collectors and debt buyers for alleged violations of CFPA, FDCPA, and 2015 consent order appeared first on Collection Industry News.
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Credit Management Company
JULY 14, 2021
The debt collection company electronically sent the following information to its third-party vendor: The consumer’s name and address. The debt concerned his son’s medical treatment. They ruled that the transmittal of information did not qualify as a communication “in connection with the collection of a[ny] debt.”. Balance owned.
Credit Management Company
AUGUST 9, 2022
A statement that unless the consumer disputes the debt within 30 days of receipt it will be assumed to be valid by the debt collector. A statement that the debt collector will provide to the consumer, within 30 days, the name of the original creditor if different than the debt collector.
Collection Industry News
JANUARY 29, 2021
Court of Appeals for the Seventh Circuit recently vacated judgment in favor of a debt collector against putative class action claims raised by a consumer that its collection letter violated the federal Fair Debt Collection Practices Act (FDCPA) by threatening action that could not legally be taken and amounting to a false representation.
Collection Industry News
NOVEMBER 2, 2020
The panel found that the consumer lacked standing because she failed to allege that the debt collector’s actions harmed her or posed any risk to her. Midland Credit Management, Inc. In Preston , the debt collector sent a collection letter that was inside of an envelope, which itself was inside another envelope.
Collection Industry News
JULY 19, 2021
The law requires the agencies to conduct a “reasonable reinvestigation” when borrowers complain of inaccuracies in their credit report. The court rejected the borrowers’ argument that the question was one of fact because all the credit agencies needed to do was to verify the debt collectors’ purchase and sale agreement. “An
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