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.
Credit Corp
NOVEMBER 9, 2020
It applies to only external or third-party debt collectors and only for personal debts. It does not come into play for creditors collecting their own debts. In 2019, the FTC received 75,200 complaints about debt collectors —down from 84,500 in 2018. Collectors also may not call before 8 a.m.
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Troutman Sanders
DECEMBER 21, 2021
State Activities: On December 15, the New York Department of Financial Services released a notice of proposed rulemaking (NPRM) for third-party debt collectors and debt buyers. For more information, click here. Public comments are now available and are due by Feb. For a four-person household, the limit is $26,500.
Troutman Sanders
OCTOBER 9, 2023
On October 4, the Federal Trade Commission (FTC) held a roundtable to discuss the impact of artificial intelligence on creative fields. The New York City Department of Consumer and Work Protection (DCWP) recently issued a notice of public hearing and opportunity to comment on its proposed amendments to its rules relating to debt collectors.
Troutman Sanders
DECEMBER 27, 2021
On December 22, the Federal Trade Commission (FTC) gave final approval to a settlement with a mortgage industry data analytics firm that will require the company to bolster its data security protections and oversight of its vendors to ensure third-party providers also comply with those safeguards.
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