FFGN COLLECT NY

DECEMBER 12, 2023

Here is an overview of the NYC law on debt collection: The consumer or debtor can ask the debt collector or attorney to verify the debt or show proof of verification upon collection. Consumers must be aware that the debt they are being collected for is valid. You must inform consumers about the debt specifics.

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Debtor Debt collector Debt Buying Original Creditor 52

Credit Corp

MARCH 1, 2023

However, you can’t actually do this due to how debt buying works. Debts of this nature are sold in large bundles to debt collectors and other agencies. Learn more about how debt buying works, why it’s not an answer to your debt concerns, and what you can do to handle debt instead below.

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Debt Buying Creditors Credit Card Debt Debt collector 105

Collection Industry News

DECEMBER 25, 2023

CFPB, which is charged with enforcing consumer protection laws, ordered the company to immediately shut down, banning it from “participating in or assisting others in any debt collection activities, debt buying, debt selling, and consumer reporting activities.”

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Collection Agencies Collections Agency Collections Fair Debt Collection 40

FDCPA Defense

FEBRUARY 5, 2013

The FTC recently released its 162-page report entitled " The Structure and Practices of the Debt Buying Industry " which describes a comprehensive study conducted by the FTC over a three-year period using data obtained from the nation’s largest debt buyers. Report at 23.

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