Mon.Jan 20, 2025

article thumbnail

Outgoing Administration Publishes Blueprint to Prevent Student Loan Defaults

Account Recovery

On its way out the door, the Department of Education has published a memo outlining the steps that the new administration should take to prevent individuals from defaulting on their student loan payments and the importance of continuing the actions that have been taken by the outgoing administration. Why it matters: Federal student loan borrowers will face penalties and consequences for missed payments in 2025 for the first time in five years.

article thumbnail

Proof Of Debt: Owing Creditors Money After Company Liquidation

Hudson Weir

During a companys liquidation, the appointed insolvency practitioner aims to raise as much money as viable to repay creditors, but there may not be enough to reimburse everyone. A proof of debt form is one way that creditors can increase their chances of recouping some of the money owed to them. The Insolvency Act 1986 establishes a legal hierarchy to compensate creditors throughout a company liquidation.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Judge Rules FDCPA Claim Can Proceed in Credit Reporting Dispute, Dismisses FCRA Allegations

Account Recovery

A District Court judge in Missouri has denied a defendant’s motion for summary judgment on claims it violated the Fair Debt Collection Practices Act by failing to correct inaccurate information it was furnishing to the credit reporting agencies, while granting the motion on claims it violated the Fair Credit Reporting Act, ruling the plaintiff did not establish that she suffered a concrete injury.

article thumbnail

CFPB Fines Equifax $15M for Consumer Dispute Failures

Account Recovery

The Consumer Financial Protection Bureau on Friday announced an enforcement action against Equifax Inc. and its subsidiary, Equifax Information Services LLC, for multiple violations of the Fair Credit Reporting Act and the Consumer Financial Protection Act. The agency found that Equifax failed to properly investigate consumer disputes, provided inaccurate information, and misled consumers with contradictory dispute resolution notices, leading the credit reporting giant to pay a penalty of $15 mi

130
130
article thumbnail

Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

article thumbnail

Compliance Digest – January 20

Account Recovery

I’m thrilled to announce that Bedard Law Group is the new sponsor for the Compliance Digest. Bedard Law Group, P.C. – Compliance Support – Defense Litigation – Nationwide Complaint Management Turnkey Speech Analytics. And Our New BLG360 Program Your Low Monthly Retainer Compliance Solution. Visit www.bedardlawgroup.com, email John H.

Loans 130