Better Credit Blog

AUGUST 31, 2020

Having debt in collections can be downright overwhelming, especially when debt collectors bombard you with dozens of phone calls. Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. Table of Contents.

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Better Credit Blog

APRIL 4, 2022

If you are like most people, you have dealt with or are currently dealing with debt collectors. I’ve been preaching about the dangers of debt collectors for years and get countless emails from readers who end up in trouble by answering the phone when a debt collector calls. Talk to Credit Saint.

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Taurus Collect

NOVEMBER 15, 2023

Experiencing a constant barrage of calls from debt collectors can be overwhelming, to say the least. Many wonder, “How many times can a debt collector call me in one day?” In this post, we will explore the rights and regulations governing debt collection in the UK. or after 9 p.m.,

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Taurus Collect

FEBRUARY 1, 2024

A debt collector might sound like a character from a Charles Dickens novel, but if you’ve been contacted by one, you know they’re very much a reality of modern financial life. So, what exactly is a debt collector? What Is a Debt Collector? Why Are They Contacting Me?

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Sawin & Shea

JULY 20, 2022

Many individuals experience unwanted contact from debt collectors and are unsure how to approach the situation. Businesses or individuals who collect debts on behalf of others are known as debt collectors. The majority of debt collectors work for reputable collection companies.

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Sawin & Shea

FEBRUARY 1, 2023

Who knows how to get debt collectors to stop calling after bankruptcy? How long after filing for bankruptcy do collectors keep calling? How to stop debt collector calls after filing for bankruptcy: Answer the calls. What if my debt cannot be discharged? Why would such a thing even happen? It is illegal.

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Collection Industry News

APRIL 25, 2023

A debt doesn’t generally expire or disappear until its paid, but in many states, there may be a time limit on how long creditors or debt collectors can use legal action to collect a debt. Some debts, though, such as federal student loans don’t have a statute of limitations.

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Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. But it’s especially frustrating if your debt is several years old. Can a debt collector collect after 10 years? Get Help Now.

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Credit Corp

AUGUST 31, 2021

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. Can a debt collector collect after 10 years, for example?

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Collection Industry News

JULY 4, 2022

CFPB Moves to Reduce Junk Fees Charged by Debt Collectors. Advisory opinion explains that most “pay-to-pay” fees charged by debt collectors violate federal law. Federal law generally forbids debt collectors from imposing extra fees not authorized by the original loan,” said CFPB Director Rohit Chopra.

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Collection Industry News

MARCH 15, 2021

A woman who claimed “stress and confusion” as injuries after she was contacted by a debt collector without her permission could not convince the 7 th Circuit Court of Appeals that the company had violated the Fair Debt Collection Practices Act. 1692c(a)(2) and (c) of the Fair Debt Collection Practices Act.

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Collection Industry News

MAY 2, 2023

. – Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations. A time-barred debt is one whose statute of limitations has expired.

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Albuquerque Law

MAY 18, 2020

Many New Mexicans might believe that creditors and debt collectors are essentially the same. After all, they both look to collect debts. Individuals must understand the difference: Creditors are the parties to which individuals owe the original debt. They provided the loan. What should you do?

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Troutman Sanders

APRIL 2, 2021

The Sixth Circuit recently confirmed student loan servicers, who begin servicing debts after default and resale, are not liable to borrowers under the Fair Debt Collection Practices Act (FDCPA) because the servicers are not acting as “debt collectors.”. On March 25, in Willison v. Nelnet, Inc. ,

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Collection Industry News

JULY 4, 2022

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on June 29, 2022, clarifying its view as to the legality under the Fair Debt Collection Practices Act (FDCPA) of “convenience fees” for optional methods of expedited payment not prescribed in the underlying loan documents, such as payment by phone or on the web.

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Sawin & Shea

SEPTEMBER 27, 2023

If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. Debt Collection Laws: What Can Debt Collectors Do?

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Roths Child Law

NOVEMBER 7, 2020

Tennessee residents may have heard about the case, which involved a class action filed by several people who defaulted on car loans. Defendant debt collector Santander Consumer USA Holdings ultimately prevailed because it was not collecting money on behalf of a third party. Debt obtained from bankrupted finance company.

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Credit Corp

FEBRUARY 23, 2024

Zombie debt is a broad term that refers to past debts that are still affecting you. An example of zombie debt is a three-year-old loan that should be paid off. The term “zombie debt” refers to a past debt that shouldn’t affect you anymore yet continues to appear on your credit report.

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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. WASHINGTON, D.C. – Read today’s order. Along with the U.S.

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Nexa Collect

JUNE 21, 2023

Credit Score Impact : The collection account may be reported to the credit bureaus, negatively affecting your credit score. This can make qualifying for credit cards, loans, mortgages, or even certain jobs harder. Increased Debt : If you ignore the debt, interest and fees may accumulate, potentially increasing the total amount you owe.

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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.

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Collection Industry News

APRIL 2, 2024

The claim: It is illegal for collection agencies to buy debt and ‘come after you’ if you send a cease-and-desist letter A March 27 Facebook post (direct link, archive link) offers advice for consumers facing debt collection. “It Now they owe you 1000 for every time they contacted you.”

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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. Currently, small business loan borrowers do not have the same protections individual consumers have under federal law,” Lawson’s office noted. Al Lawson , D-Fla.,

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Collection Industry News

APRIL 30, 2023

On April 26, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act (FDCPA).

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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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Troutman Sanders

JANUARY 9, 2024

On January 3, Fannie Mae announced that during the weekend of January 20, it will update its loan underwriting system, Desktop Underwriter, to support changes to FHA and VA loan limits. On January 2, the CFPB published a blog titled, “Holding Debt Collectors Responsible for False Statements.”

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Credit Corp

JUNE 1, 2023

When this happens, it means your debt has gone to collections and debt collectors from the collection agency will now try to contact you for payment. Here are some reasons to pay your collection debt: Dodge lawsuits: If you don’t pay off your collection debt, the debt collectors may sue you.

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National Service Bureau

NOVEMBER 20, 2015

The CFPB found Discover Bank to be in violation of the Consumer Financial Protection Act in three instances and in violation of the Fair Debt Collection Practices Act in one.for a mistake that might catch other debt collectors unaware. You can read the full text of the CFPB ruling here.

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National Service Bureau

SEPTEMBER 9, 2015

It’s no secret that student debt is at an all-time high. According to the US Department of Education, there are more than 40 million student loan borrowers who owe more than $1.2 Unfortunately, this means student loans (unless you have access to scholarships, independent wealth, grants, or other resources).

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Direct Recovery

NOVEMBER 14, 2021

Whether you are someone in the debt collection industry or just a consumer that wants to understand their rights better, let’s take a few minutes to break down the details of each bill from a debt collection perspective. Fair Debt Collection Practices Act.

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Troutman Sanders

OCTOBER 12, 2021

district judge in Arkansas recently granted the defendant McKendra Adams’s (Adams) motion to dismiss for lack of standing involving an alleged violation of the Fair Debt Collection Practices Act (FDCPA). The case began when Cheatham defaulted on a car loan and surrendered the vehicle, which was sold at auction.

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Collection Industry News

JUNE 14, 2023

Here are some important consumer laws that collectors should be familiar with: 1. Fair Debt Collection Practices Act (FDCPA): The FDCPA sets standards for debt collection practices in the United States. It also outlines requirements for communication, disclosure, validation of debts, and consumer rights.

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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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Burr Forman

MAY 20, 2021

Prohibiting servicers of private education loans from reporting an adverse item of information relating to the nonpayment of the loan for an established period of time.

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Sawin & Shea

AUGUST 24, 2020

Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt.

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Better Credit Blog

OCTOBER 14, 2020

ARS collects on debts for several types of businesses, including: Telecommunications services. Higher education loans. Healthcare debt. Debt from financial institutions. Curious about the debt collection process? Debt collectors like ARS frequently receive complaints about the same types of problems.

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Troutman Sanders

MARCH 29, 2021

26, 2021), the District of Nevada dismissed a pair for claims under the Fair Debt Collections Practices Act (FDCPA), alleging that a debt collector had improperly sought to recover collection fees in the amount of 50% of the outstanding debts.

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