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Dealing with Debt Collectors

Debt Free Colorado

In this article we will answer the question: What can debt collectors do to you? Does Colorado Law Protect Me From Debt Collectors? When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states.

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What Is a Judgment?

Credit Corp

A judgment is an order issued by a judge or jury to settle a lawsuit. For example, if you fail to pay a debt, the lender can take you to court. In this case, the judge may order you to pay the other party as part of the court’s final judgment. These terms are laid out in the final judgment. What Is a Judgment on Property?

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FTC settlement bans phantom-debt collectors from industry

Public Citizen

From a Federal Trade Commission press release : A group of phantom debt collectors will be permanently banned from the debt collection industry and required to surrender the contents of numerous bank and investment accounts under the terms of a settlement  with the Federal Trade Commission.

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New Yorkers Sued By Debt Collectors Can Now Get Legal Advice From Non-Lawyers

Collection Industry News

New Yorkers facing debt-collection lawsuits are poised to get a little extra help in the wake of a federal court’s ruling — and some observers say it could translate to a win for consumers across the country who have basic legal questions but can’t afford a lawyer. The office did not immediately respond to a request for comment.

Lawyers 40
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Seventh Circuit Affirms Dismissal of FDCPA Claim for Lack of Standing, Holding Hiring a Lawyer and Confusion is Not Enough

Troutman Sanders

The bank sold the debt to the defendant creditor. The law firm filed suit against the plaintiff in state court seeking judgment in the amount of the debt as well as “statutory attorney fees.” As we have consistently explained, confusion leading one to hire a lawyer is insufficient to establish standing.”

Lawyers 52
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Can debt collectors collect a debt that’s several years old?

Collection Industry News

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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What is a Judgment?

Credit Corp

A judgment is an order issued by a court of law. When you borrow money, you are legally required to repay the debt. If they are successful, the court issues a judgment against you. What Happens After a Judgment Is Entered Against You? You should receive a notice of the judgment entry in the mail. These laws vary.