True Accord

NOVEMBER 20, 2023

Both the federal and DC laws permit debt collectors to communicate digitally about a consumer’s account as long as the digital communications contain clear and conspicuous opt-out language with strict penalties for failing to abide by the opt-out provisions.

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Jimerson Firm

DECEMBER 14, 2021

Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. For example, a debt collector cannot: use violence or make repetitive telephone calls (15 U.S.C.

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Collection Industry News

NOVEMBER 6, 2020

On Friday, the bureau issued its final rule to restate and clarify prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt. The entire new rule can be downloaded on this website.

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Troutman Sanders

NOVEMBER 1, 2021

LTD Financial Services, L.P. , or more of a debt is forgiven as a result of settling a debt for less than the balance owing, the creditor may be required to report the amount of the debt forgiven to the Internal Revenue Service on a 1099C form, a copy of which would be mailed to you by the creditor.

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FFGN COLLECT NY

JANUARY 13, 2021

It should be noted that most news articles about debt collection involve rogue collectors or firms that either harassed consumers or failed to give the required notice of a debt. New York Debt Collection Laws. As of today, New York does not require licensing for collection agencies or collection law firms.

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Better Credit Blog

APRIL 1, 2022

Within your lifetime, you may have a period of financial distress. Especially in the current pandemic, COVID 19, medical bills, credit card bills, and other financial service bills may start to pile up. It’s perfectly legal and proper to make this request, generally called a Debt Validation Letter. Why ask for proof?

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Troutman Sanders

OCTOBER 7, 2021

a Third Circuit district court granted summary judgment to the defendants in a Fair Debt Collection Practices Act (FDCPA) case. a debt buyer, retained defendant LTD Financial Services, L.P. LTD) to collect on the $4,528.59 In Bordeaux v. AA II, Inc.),

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Better Credit Blog

JULY 13, 2020

Nationwide Recovery Service is a debt collection agency that collects a variety of debt, including telecommunication, financial service, utilities, and medical bills. Nationwide Recovery Service will appear on your credit report as a collection agency. Validate the Debt.

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Better Credit Blog

APRIL 1, 2022

Transworld Systems, Inc (TSI) is a well-known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts. They recently acquired Alltran Financial Services in 2020. Debt Validation.

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Better Credit Blog

FEBRUARY 19, 2021

FMA Alliance is a third-party debt collector that works with companies to recover delinquent accounts from customers. Before a debt collector can contact you for payment, they must first report the debt to the major credit bureaus. The majority of their clientele are within: financial services.

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Troutman Sanders

FEBRUARY 24, 2022

Preferred Collection and Management Services Inc. Preferred Collection and Management Services Inc. For context, Section 1692c(b) of the FDCPA prohibits a debt collector from communicating with most third parties “in connection with the collection of any debt” unless it has the consumer’s consent.

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Better Credit Blog

AUGUST 21, 2020

If you have failed to pay a bill, you may begin to hear from a collection agency known as Radius Global Solutions. This means that Radius Global Solutions has acquired your debt from the original creditor and has opened a collection account on your credit report. Verify the Debt. Let them know.

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Better Credit Blog

AUGUST 22, 2020

If you have a debt that you haven’t paid yet, you may have heard from a debt collector called CCS Offices. CCS Offices is a company that collects debts on behalf of original creditor. They do this by either purchasing the debt or collecting the payments and taking a portion for themselves.

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True Accord

APRIL 5, 2023

But with inflation and economic stressors persisting into the new year, many consumers are conflicted on their financial outlook and spending behavior is hard to predict. The final amended rule will go into effect on July 20, 2023.

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Better Credit Blog

AUGUST 7, 2020

If you have been contacted by a company called Professional Finance Company, you are probably being pursued for an old unpaid debt. This can make for unpleasant interactions with creditors and constant harassment for payment. Request Debt Validation. The debt collection process is not perfect. Hire a Professional.

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Consumer Financial Services Law

MAY 16, 2017

Midland Funding, LLC, a debt buyer, filed a proof of claim which disclosed on its face that the claim was barred by the applicable statute of limitations, listing the date of last transaction as May 2003. Midland moved to dismiss asserting that Johnson’s FDCPA claims were precluded by the Bankruptcy Code. Johnson, 823 F.3d 3d at 1341.

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Better Credit Blog

APRIL 5, 2022

The first step, if you have paid the full collection account, settlement, or have been making regular on-time payments, is to mail the collection agency a “ goodwill letter ” that explains your situation. Then kindly ask the debt collector to remove collections from your credit report out of goodwill.

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Consumer Financial Services Law

OCTOBER 12, 2016

Moreover, the Georgia statute expressly provides that garnishment proceedings are actions between the judgment-creditor and the garnishee. The Staff Commentary provides that if a judgment is obtained from a forum that satisfies the venue requirements of section 1692i, then a debt collector may bring suit to enforce it in another jurisdiction.

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Troutman Sanders

JANUARY 9, 2024

On January 2, the CFPB published a blog titled, “Holding Debt Collectors Responsible for False Statements.” CICA Collection Agency, a First Circuit case in which the CFPB has filed an amicus brief. The consumer sued to hold the debt collector accountable for the misrepresentation, but the debt collector pled ignorance.

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Troutman Sanders

APRIL 26, 2021

Federal Activities: On April 22, the Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James filed a complaint in federal court to seize a $1.6 million home that alleged a fraudulent transfer by the operator of a debt-collection scheme. For more information, click here. On April 22, the U.S.

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Consumer Financial Services Law

NOVEMBER 19, 2020

On October 30, 2020, the CFPB published its long awaited Final Debt Collection Rule (the “Rule”) which is intended to interpret the federal Fair Debt Collection Practices Act (the “FDCPA”) and clarify how new communication technologies can be used in compliance with the FDCPA. Who’s Covered?

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Troutman Sanders

MAY 2, 2023

However, due to partisanship in the Senate, Senator Lummis believes her bill is unlikely to pass before the House Financial Service Committee’s bill is introduced. Khan appeared before the House Appropriations Subcommittee on Financial Services and General Government to discuss its FY 2024 budget request and the agency’s ongoing work.

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