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Over the next 30 years, Larry excelled in a variety of leadership roles, including Chief Financial Officer and Chief Operating Officer, at financialservices and consumer debt companies. During his career, Larry oversaw the acquisition of over 500 receivables portfolios.
Multiple state and federal agencies strictly regulate the debtsettlement industry. All types of debt relief programs come with negative consequences, including non-profit credit counseling and bankruptcy, and will directly or indirectly negatively impact your credit score. State and Federal Regulations for DebtSettlement.
On November 8, the New York Department of FinancialServices, through a special state law-established Private Student Loan Refinancing Task Force, issued a request for information (RFI), pertaining to student loan refinancing. Prop 209 is expected to become law in January 2023. For more information, click here.
The court’s orders bar the individuals and their companies from directly or indirectly engaging in telemarketing, debt relief services, and making any misrepresentations or unsubstantiated claims about any product or service. For more information, click here. For more information, click here.
LTD FinancialServices, L.P. , LTD FinancialServices, L.P. , The plaintiff owed a debt of $4,528.59 In Bordeaux v. 2:16-0243 (KSH) (CLW) (D.N.J 2:16-0243 (KSH) (CLW) (D.N.J The District of New Jersey rejected these claims, finding that the letters were not false or misleading.
A New York District Court recently addressed the issue of whether the FDCPA requires passive debt buyers to personally register disputes or whether they can delegate that obligation to their third party debt collector/servicer. Passive debt buyers purchase debt but retain third parties to service and collect the debt.
Beyond the student loan and mortgage context, state attorney generals have advanced this theory in their investigations of auto lenders [4] and debtsettlement companies. [5]. However, this concern seems to be evolving into additional products. 1, 2021), [link] ; See e.g., Final Judgment, Commonwealth v.
Proposed registration includes debtsettlementservices, student debt relief services, postsecondary education financing, and wage-based advances. Research and Market Monitoring. OFTI participated in more than a dozen public events to publicize OFTI’s activities and extend the invitation to meet.
On May 26, North Carolina Attorney General Josh Stein issued a press release, indicating his office had won a permanent ban against an individual and his businesses from offering debt relief, debtsettlement, foreclosure assistance, and mortgage loan modification services to North Carolinians.
The company was operating without registering as a debtsettlementservice provider as required by Minnesota law. The attorney general further alleges that the company enrolled consumers in federal repayment programs that consumers can enroll themselves in for free, then pocketed both initial and monthly fees for doing so.
On July 13, state Republican Senator Bob Hackett re-introduced the Financial Accountability and Independence Recovery (FAIR) Act in the Ohio legislature, which would allow debtsettlement companies to operate in the state.
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