FFGN COLLECT NY

JANUARY 10, 2024

Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. More specifically, the Department of Financial Services will crack down on the “buy now, pay later” industry.

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Jimerson Firm

FEBRUARY 22, 2024

Unlike the FDCPA, which only applies to debt collectors, the FCCPA applies to all persons or businesses collecting consumer debts. As such, whether the consumer lawyer intends to pursue the class or not, this is seen as a tactic to increase settlement value for the debtor, even if the settlement is only on an individual basis.

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Troutman Sanders

MARCH 29, 2021

On March 23, Representatives Steve Cohen, Suzanne Bonamici, and Alexandria Ocasio-Cortez introduced the Fair Debt Collection Improvement Act that would prohibit debt collectors from collecting or attempting to collect debt from consumers after a statute of limitation expires. For more information, click here.

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Financial services Fair Debt Collection Lender Foreclosure 52

Consumer Financial Services Law

MARCH 8, 2018

Dunn A District Court in the Seventh Circuit has held that a debt collector may not avail itself of the § 1692k(c) bona fide error defense if it “intentionally chose to present conflicting information,” even if that conflicting information was provided to it by the creditor. In Garcia v. Miramed Revenue Group, LLC , 2018 U.S.

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Troutman Sanders

NOVEMBER 8, 2023

The plaintiff claimed the letter violated FDCPA §§ 1692d, e, f, and g because she could not determine what date was “today” and “now,” which allegedly misled her about the status of the debt, confused her, made the letter seem illegitimate and suspicious, and caused her to spend time and money trying to figure out whether the debt was valid.

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Debt collector Debtor Fair Debt Collection Education 52

Troutman Sanders

APRIL 6, 2023

In a significant boost to the financial services industry, Utah has taken major steps to streamline its debt collection bureaucracy — including the removal of criminal penalties for failure to comply with technical requirements. As a consequence of the repeal, such lawsuits may no longer be viable in Utah.

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Troutman Sanders

NOVEMBER 8, 2023

18) of the Florida Consumer Collection Practices Act (FCCPA), which makes it unlawful for a debt collector to communicate with a debtor if the debt collector knows that the debtor is represented by an attorney with respect to such debt and has knowledge of, or can readily ascertain, such attorney’s name and address.

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Creditors Chapter 7 bankruptcy Unsecured Creditor Debt collector 52

Jimerson Firm

DECEMBER 14, 2021

To better understand the Fair Debt Collection Practices Act, I’ve broken it down into three discernable parts: 1) Elements of a cause of action under the FDCPA. The FDCPA prohibits debt collectors from making false or misleading representations and from engaging in various abusive and unfair practices. 3d 1175, 1205 (M.D.

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Debt collector Fair Debt Collection Consumer Collections Legal Rights 105

Fico Collections

SEPTEMBER 19, 2022

These rules require the debt collectors and recoveries staff to—if non-complaint—make significant changes on how and when they can communicate with debtors. Here are some highlights: The 7-in-7 rule: Regulation F stipulates that there may be no more than seven calls made by a debt collector to a consumer in a span of seven days.

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Collections Debt collector Financial Institution Banks 52

Consumer Financial Services Law

APRIL 22, 2021

Enloe The FDCPA provides a bona fide error defense for debt collectors who can show by a preponderance of the evidence that their violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid any such error. Limited Content Messages.

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Troutman Sanders

NOVEMBER 1, 2021

LTD Financial Services, L.P. , However, the court held that the letters accurately state that there are tax consequences when $600 or more of debt is forgiven. Because they reflected an outcome that could come to pass, they could not be viewed as “false and misleading” even to the least sophisticated debtor.

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Consumer Financial Services Law

OCTOBER 3, 2019

The court held that when drafting the FDCPA, Congress was most concerned about the “repetitive contacts” that debt collectors may make with debtors, not that debt collectors will conceal their actions to unscrupulously obtain judgments against unknowing consumers.

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Collection Industry News

MAY 11, 2021

— which we previously covered on this blog — continues to raise questions for the wide range of industries that fall within the FDCPA’s definition of “debt collectors.” Further, this proposed restriction would not be “narrowly tailored” for the purpose of protecting debtors’ privacy.

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Consumer Financial Services Law

MARCH 23, 2021

Specifically, the debtor took issue with a disclosure in the validation notice, which she attached to her complaint, that provided “[i]n making this demand we are relying entirely on information provided by our client.” Landon Van Winkle is an attorney in Smith Debnam's Consumer Financial Services Litigation and Compliance Group.

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Consumer Financial Services Law

FEBRUARY 18, 2019

2013), which joined the Fourth and Fifth Circuits in holding that non-judicial foreclosures are “debt collection” under the FDCPA, the Sixth Circuit held on January 11 that a law firm has an affirmative duty to “stop the clock” on an initiated foreclosure once it receives a §1692g(b) dispute from the debtor. Chase Home Finance LLC.,

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Consumer Financial Services Law

OCTOBER 16, 2017

By Zachary Dunn October 16, 2017 The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” 11 2017), the debtor, Berry, defaulted on student loans he had taken out with the US Department of Education. In Berry v.

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Consumer Financial Services Law

DECEMBER 30, 2020

In Donovan , the debt collector sent a letter with two glassine windows. The consumer filed suit alleging that the envelope created a risk that third parties would recognize that she was receiving mail from a debt collector and asserting, among other things, a violation of 15 U.S.C. My phone number is _.”

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Burr Forman

NOVEMBER 1, 2021

In Hunstein , the Eleventh Circuit reversed the dismissal of a Fair Debt Collection Practices Act (“FDCPA”) lawsuit alleging that the Defendant, a debt collector, had violated third party disclosure prohibitions in the FDCPA by using a mail vendor to mail its dunning letters.

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Troutman Sanders

FEBRUARY 24, 2022

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. See 2021 WL 5353154 (11th Cir.

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BN Lawyers

JANUARY 14, 2019

Section 1692g(a) of the FDCPA mandates the sending of a “validation” notice within five days of a debt collector’s initial communication with a consumer. A debt collector is free to collect during the thirty-day period as long as it does not overshadow or contradict the consumer’s thirty-day rights. In Scott v.

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Foreclosure Debt collector Collections Chapter 13 bankruptcy 40

Troutman Sanders

OCTOBER 7, 2021

a debt buyer, retained defendant LTD Financial Services, L.P. Further, the court granted summary judgment to the defendants concerning the plaintiff’s claims that the defendants violated Section 1692f of the FDCPA (prohibiting debt collectors from using “unfair or unconscionable means to collect or attempt to collect any debt).

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Collection Industry News

JULY 20, 2020

DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.

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Consumer Financial Services Law

MARCH 30, 2020

Financial and Insurance Institutions : The Stay at Home Order also exempts a large array of financial and insurance institutions, including “bank, currency exchanges, consumer lenders” and “affiliates of financial institutions.” The Order additionally only allows certain specified essential businesses to remain physically open.

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Consumer Financial Services Law

FEBRUARY 27, 2018

In doing so, the Court joined the Fifth, Sixth and Seventh Circuits in holding that, even absent a threat of litigation, offers to settle time-barred debts could mislead the least sophisticated consumer. 12, 2018), the debt collector sent a letter that read “[The creditor] is willing to accept payment in the amount of $128.99

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Consumer Financial Services Law

JANUARY 6, 2017

the issue before the court was “whether a series of 18 telephone calls from a debt collector, of which 17 were unanswered and one where the recipient hung up, unaccompanied by harsh or threatening language or back-to-back calls could reasonably be found to violate the FDCPA.” In Chisholm v. Chisholm at *10-11. Chisholm at *14.

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Consumer Financial Services Law

DECEMBER 12, 2016

Creditors and debt collectors who utilize pre-collect practices should pay close attention to a recent opinion from the Eastern District of Michigan. 1, 2016), the collection agency agreed to provide the creditor with demand letter services which involved a series of three letters per debt account. . In Parker Burns v.

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Fico Collections

JUNE 16, 2022

Implemented specific segmentation and treatment strategies for debtors. These challenges will have a significant impact on debtor's ability to pay back what they owe. But the ability for debt collectors to learn from the lessons of 2008 has never been more viable. Unfortunately, far too many creditors didn’t.

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Consumer Financial Services Law

SEPTEMBER 5, 2016

1692f(8), that an account number capable of revealing that a recipient was a debtor was a violation within the scope of the plain language of the Fair Debt Collection Practices Act. In Anenkova , the debt collector used a letter vendor to send a debt collection letter. Anenkova at *11. at 50097-02, 50108.

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Consumer Financial Services Law

AUGUST 31, 2016

Secondly, the court’s decision does not address the contents of the proof of claim or the conduct of the debt collector. Instead, the Fourth Circuit’s opinion appears to focus solely on whether or not the statute of limitations extinguished the debt. Keys to the Decision. The opinion is important for a number of reasons. .

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Consumer Financial Services Law

JANUARY 9, 2016

In 2002, the Ninth Circuit held that the Bankruptcy Code precluded the debtor’s FDCPA claims. In that case, as in Garfield , the debtor sought to enforce a violation of the discharge injunction through the FDCPA. FIA Card Services, N.A., Wells Fargo Bank, N.A., 3d 502, 511 (9 th Cir. Roundup Funding, LLC, 622 F.3d

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Bankruptcy Debtor Debt collector Loans 40

FDCPA Defense

MAY 6, 2014

The CFPB does not want debt collectors to tell consumers that paying their debts might help them to improve their credit score. Nor does the CFPB want collectors to encourage consumers to pay by informing them that their failure to do so might harm their credit. Equifax Check Services, Inc., 3d 410, 418 (7th Cir.

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Better Credit Blog

JULY 7, 2020

They collect debt for businesses in multiple industries, including: Banking. Financial services. In addition to debt collection, the agency offers several additional services to its clients in the industries above. Validate your debt. Ask Bonneville to Validate Your Debt. Commercial. Government.

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Consumer Financial Services Law

MAY 16, 2017

The district court concluded that that the Bankruptcy Code expressly provided for the filing of a claim irrespective of whether it is time barred so long as the creditor has a right to payment that has not been extinguished by state law while the FDCPA prohibited debt collectors from doing so.

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Consumer Financial Services Law

APRIL 16, 2018

The court turned away these suggestions, noting that the FDCPA “does not require debt collectors to take every conceivable precaution to avoid errors,” but rather only requires “reasonable” procedures. “In Box requesting his current address, or hired a private process server to confirm his residence.

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Troutman Sanders

MAY 17, 2021

On May 13, the Nevada Financial Institutions Division (NFID) extended its temporary guidance allowing employees of licensed collection agencies to work from home through July 31. 248, which limits a collection agency’s ability to collect on medical debt. For more information, click here. For more information, click here.

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FDCPA Defense

MARCH 2, 2014

NCO also agreed not place calls to any telephone number about a particular account if NCO had already been informed by anyone at that number that the debtor cannot be reached at that number or the person does not have location information about the debtor. NCO also agreed to judgment for a civil penalty totaling $3.2 Cashland”).

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Consumer Financial Services Law

FEBRUARY 1, 2017

A demand letter sent by a debt collector was not doomed by an incorrect statement of the creditor’s name. the debt collector’s initial letter stated as follows: Re: ENCOMPASS MANAGEMENT CONSULTANTS Account #: 3118797 Balance: $875.33 The debtor contended that the letter violated 15 U.S.C. In Santibanez v.

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