Better Credit Blog

AUGUST 22, 2020

If you have an unpaid medical bill, you may begin to hear from a debt collector known as CMRE Financial Services. CMRE Financial Services is a collection agency that collects medical debts on behalf of hospitals and other healthcare businesses. What is CMRE Financial Services?

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Better Credit Blog

SEPTEMBER 9, 2020

Have you noticed a company called Phoenix Financial Services on your credit report? If you have, this has probably been accompanied by calls from them to collect on a debt. This is because collection accounts on your credit report can have a significant impact on your score for up to seven years.

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Better Credit Blog

FEBRUARY 5, 2021

If you’re wondering what BCA Financial Services is and why it’s on your credit report, the guide below is for you. With all of life’s financial obligations and the busyness of day to day life, it can be all too easy to let a payment slip through the cracks. About BCA Financial Services. BCA Financial Services, Inc.

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Troutman Sanders

MARCH 9, 2022

Please join us on March 9 for a complimentary webinar to discuss how Regulation F represents a sea of change to how consumer and debt collectors will approach lawsuits brought under the Fair Debt Collection Practices Act. Register Here Wednesday, March 9 • 3:30 – 4:3 0 p.m.

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Consumer Financial Services Law

MARCH 27, 2018

Dunn The House Financial Services Committee voted 35-25 on March 21, 2018 to advance H.R. Dunn practices in Smith Debnam's Consumer Financial Services Litigation and Compliance Group. By: Zachary K. 5082, officially known as the “Practice of Law Technical Clarification Act of 2018,” to the full House of Representatives.

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Troutman Sanders

MAY 10, 2021

On May 6, the House of Representatives indicated that it plans to vote on eight bills, collectively referred to as the Comprehensive Debt Collection Improvement Act. For more information, click here. For more information, click here. A similar bill was previously introduced in the House of Representatives.

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FFGN COLLECT NY

DECEMBER 15, 2021

If the individual owner or tenant owes the receivable and you seek payment from the individual through a debt collector , the CFPB will have a watchful eye. What is the Consumer Financial Protection Bureau? The CFPB determines how, where, and when you can pursue debt collection efforts against your consumer customer.

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Troutman Sanders

DECEMBER 7, 2021

On November 30, Regulation F of the Fair Debt Collection Practices Act became effective. On November 29, the CFPB issued a new advisory for financial institutionsto help prevent elder financial exploitation with alerts to trust contacts. For more information, click here. For more information, click here.

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Consumer Financial Services Law

OCTOBER 31, 2021

With the CFPB having decided to leave the effective date of the Debt Collection Rule as November 30 th , the push is on for debt collectors to ensure their compliance with the Rule by that date. Referral of the Account. As we all know by now, the Rule introduces as a new concept the “itemization date.” Section 1006.34(b)

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Collection Industry News

DECEMBER 19, 2023

The Consumer Financial Protection Bureau (CFPB) today took action against a medical debt collector, Commonwealth Financial Systems, for illegally trying to collect unverified medical debts after consumers disputed the validity of the debts. Department of Health and Human Services and the U.S.

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Troutman Sanders

APRIL 27, 2023

Consumer Financial Services Associate Jonathan Floyd focuses his practice on financial services litigation, representing clients in class actions and business disputes in both federal and state courts. Transcript: Recent Trends in Article III Standing (PDF)

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Collection Industry News

OCTOBER 12, 2020

“The CFPB is actively working to protect consumers from illegal actions of debt collectors,” CFPB Director Kathleen L. We will continue to monitor the financial marketplace, as well as consumer complaints received, in order to ensure that we identify and take action against debt collectors who are violating the law.”.

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Troutman Sanders

MAY 5, 2021

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. The hospital hired debt collector Preferred Collection & Management Services, Inc.

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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.

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Collection Industry News

FEBRUARY 25, 2022

brought back his “ Small Business Fair Debt Collection Protection Act ” which he has championed in recent years. This bill promotes entrepreneurism and allows small business owners to have equivalent protections as consumers when dealing with debt collectors,” Lawson said. House Financial Services Committee.

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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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True Accord

NOVEMBER 13, 2023

Interestingly, this update contains revisions that are similar to the New York Department of Financial Services (NYDFS) proposed amendments to New York’s debt collection law, 23 NYCRR 1, that NYDFS released last year. about a past due account) and cannot even reference information about the account.

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Consumer Financial Services Law

FEBRUARY 11, 2018

Dunn Eighteen years ago, the Seventh Circuit crafted “safe harbor” language which, if used, shielded debt collectors from liability under 15 U.S.C. Section 1692g requires debt collectors to disclose, among other information, the “amount of the debt” a consumer owes. A recent decision, Boucher v. See 15 U.S.C.

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Troutman Sanders

JULY 11, 2023

Even when medical care may otherwise be covered by insurance or financial assistance, patients may be pitched these products by their health care providers who then pass the administration of patient billing and collections over to financial service companies.” The consumer experience.

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FDCPA Defense

SEPTEMBER 26, 2017

Can a bank be sued for acting as a “debt collector” under the California Rosenthal Act? You are probably tempted to answer “yes” it can, because you know the Act defines a “debt collector” to include an entity that is collecting on behalf of itself or on behalf of third parties. Code § 1788.2(c) See, e.g., Gold v.

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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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Troutman Sanders

NOVEMBER 8, 2023

Last week, a district court in Nevada held that an undated, model form debt validation notice does not violate the Fair Debt Collection Practices Act (FDCPA). the defendant sent a debt validation letter to the plaintiff that followed the model form provided by the Consumer Financial Protection Bureau (CFPB).

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Collection Industry News

MAY 18, 2021

While NAFCU supports efforts to stop abusive debt collection practices, the association had raised concerns about language contained in the bill that would expand the definition of a “debt collector” and increase risks to lenders. It now heads to the Senate for consideration.

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Burr Forman

MAY 20, 2021

2547 (the “Comprehensive Debt Collection Improvement Act” or “CDCIA”). Originally introduced by House Financial Services Chairwoman Maxine Waters, the CDCIA’s primary purpose is to provide additional financial protections for consumers and place restrictions on debt collection activities by amending several consumer finance statutes.

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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

OCTOBER 6, 2023

the plaintiff initiated litigation in state court alleging a violation of the Fair Debt Collection Practices Act (FDCPA) based on the defendant’s use of a letter vendor to send the plaintiff a demand. In Moore v. Merchants & Medical Credit Corp., After removal, the U.S.

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Troutman Sanders

FEBRUARY 6, 2023

In a recent decision, a Michigan district court found that because there was a genuine issue of fact as to whether the defendant debt collector notified the consumer reporting agency (CRA) to remove a disputed debt notification from the plaintiff’s tradeline, the case could proceed to trial. In Evans v.

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FFGN COLLECT NY

JANUARY 13, 2021

This is contrary to the licensing required of collection agencies by more than 20 states. As far as regulations and requirements within New York, the type of debt dictates which rules and regulations apply to debt collectors. Business to Business Debts. Federal, State, and Local Regulations for Consumer Debt.

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Fico Collections

SEPTEMBER 19, 2022

Consumer Financial Protection Bureau (CFPB) announced the final rules interpreting the Fair Debt Collections Practices Act (FDCPA) on July 30, which went into effect on November 30, 2021. Within seven days after engaging in a telephone conversation with a customer about the particular debt.

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Debt Collection Answers

MAY 18, 2023

Even the most carefully crafted financial plan can be thrown off by unforeseen healthcare costs. Adding to the burden, specialized debt collectors in the medical industry can compound the stress of an already challenging situation. Capio Partners is one such agency that focuses on debt collection in the medical field.

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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. The truth is, debt collectors actually have a set of rules they have to follow when attempting to collect on a debt.

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Better Credit Blog

JULY 13, 2020

If you’re interested in removing Nationwide Recovery Service from your credit report, follow our how-to guide below. What is Nationwide Recovery Service? Nationwide Recovery Service is a debt collection agency that collects a variety of debt, including telecommunication, financial service, utilities, and medical bills.

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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

AUGUST 4, 2020

While the company might seem scammy thanks to its aggressive communication tactics, Wakefield and Associates is a legitimate debt collector. The company has over 100 employees and netted more than $30 million in debt collections last year. These include: Commercial services. Financial services.

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Burr Forman

NOVEMBER 1, 2021

Preferred Collection and Management Services, Inc., 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

NOVEMBER 1, 2021

LTD Financial Services, L.P. , In Bordeaux v. 2:16-0243 (KSH) (CLW) (D.N.J

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Troutman Sanders

SEPTEMBER 6, 2023

As the court explained, the bona fide error defense is an affirmative defense, for which the debt collector has the burden of proof. After removal to the U.S. District Court for the Western District of Washington, the plaintiff moved for partial summary judgment.

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