Troutman Sanders

FEBRUARY 26, 2021

SN Servicing, LLC , a district court in the Ninth Circuit denied a defendant’s motion for summary judgment regarding the plaintiffs’ allegations that the defendant violated the Fair Debt Collection Practices Act and Oregon Unlawful Debt Collection Practices Act in its mortgage servicing activity.

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Troutman Sanders

JUNE 28, 2022

The creditor referred the account to a law firm, which served the consumer with a collection suit and obtained a default judgment for the balance. The law firm sent four post-judgment collection letters, demanding the $4,225.74 The consumer never made a payment on the judgment. Ramirez , 141 S. 2190 (2021).

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Credit Corp

JUNE 14, 2020

The most common cases of zombie debt involve collection activities. Here’s one example of how a zombie might rise with help from a collection agency. You default on a debt. The original lender or collection agency fails to collect within the statute of limitations. Zombie Debts and Judgments.

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Collection Industry News

JUNE 1, 2023

The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts. This presents a substantial opportunity for debt collection agencies to assist lenders in recovering unpaid debts and managing default risks.

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Collection Industry News

MAY 18, 2021

While NAFCU supports efforts to stop abusive debt collection practices, the association had raised concerns about language contained in the bill that would expand the definition of a “debt collector” and increase risks to lenders. It now heads to the Senate for consideration.

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Credit Corp

DECEMBER 14, 2020

The statute of limitations for most debts starts when you go into default. If a debt is 10 years old but you were making payments under an agreement with the lender until 3 years ago, the debt is likely still within the statute of limitations and can be pursued by a debt collector.

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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. , 682.405(a)(1).

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Better Credit Blog

APRIL 1, 2022

They also might be charging you the full amount in order to make a profit, since credit collection agencies typically buy collection accounts at a discount from the original lender. Debt Validation. Provided by the Fair Debt Collection Practices Act, you have the right to demand debt validation from a collection agency.

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Troutman Sanders

AUGUST 26, 2020

The collection letter from the debt collector included a request for repayment of principal and interest. The district court agreed and granted summary judgment to the defendant. The Ninth Circuit Court of Appeals reversed, holding that the district court erred in its application of the BFE test.

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Troutman Sanders

AUGUST 13, 2021

Several months later, an attorney representing Blackmon submitted a formal written dispute of the debt to AARC, which responded with the verification required by the Fair Debt Collection Practices Act (FDCPA). Blackmon then filed an action in the U.S.

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Troutman Sanders

MARCH 26, 2021

The letters informed the plaintiff that, in exchange for payment of his discharged debt, the defendant would “update credit data it may have previously submitted regarding this debt.”. District Court for the Southern District of Indiana, asserting two claims under the Fair Debt Collection Practices Act, 15 U.S.C.

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Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts.

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Better Credit Blog

OCTOBER 5, 2020

Has your credit score recently taken a dive as a result of a collections entry from Penn Credit? If you forgot to pay a bill or you’ve gotten behind on payments to a lender or service provider, it can have some nasty effects on your credit. Try out one of the approaches below, and you could be collections-free in a few weeks.

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Better Credit Blog

FEBRUARY 17, 2021

Also frustrating, the collections agency has likely been sending letters and calling you regularly. Collections accounts appear on your credit report when you fall behind on payments to a lender or a service provider. Oftentimes, debt in collections is handled by third-party agencies like Bridgeport Financial.

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Credit Corp

AUGUST 31, 2021

If they do this knowing that the debt is past the statute of limitations, they may have violated the Fair Debt Collections Practices Act. But they also know that most borrowers who are sued for old debts won’t show up in court, and the judge will issue a default judgment. What Is a Time-Barred Debt?

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Debt Free Colorado

APRIL 1, 2021

The payday lenders like Speedy Cash swear up and down that they don’t have anything to do with this, but somehow their customer lists keep getting into the hands of fraudsters. You can’t garnish wages because you don’t have a judgment. You don’t have a judgment because you haven’t filed a lawsuit.

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Better Credit Blog

MARCH 2, 2021

When your healthcare provider is unsuccessful at collecting your debt, they could contact a third-party agency such as H&R Accounts. Debt collectors buy your debts from providers and lenders, or they employ them to manage the collections process. Unvalidated debts. Harassment. Identity fraud.

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Better Credit Blog

OCTOBER 30, 2020

Individuals who have been contacted due to a reporting error or identity theft should certainly try to dispute their debts. When collections agencies buy debts from providers and lenders, they don’t always have the paperwork they need to see their collections attempts through. Negotiate a Pay-for-delete Agreement.

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Better Credit Blog

FEBRUARY 12, 2021

EPR may show up on your report if you’ve fallen behind on payments to a service provider or a lender. The longer you ignore a collections entry, the more damage it can do to your report. Evergreen Professional Recoveries is a legitimate debt collection agency and member of the American Collectors Association. Commercial.

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Better Credit Blog

FEBRUARY 4, 2021

Here’s a quick breakdown of how debt collection works. When you fall behind on payments, your lender or service provider will make multiple attempts to contact you. If they don’t receive a payment from you, your debt will enter the collections stage. These agencies either: Buy your debt at pennies on the dollar.

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Better Credit Blog

FEBRUARY 25, 2021

If you carry debt in any of those industries, the entry featured on your report could be legitimate. When you fail to keep up with payments to a service provider or lender, they often hand your debts off to collections agencies. They can also assist you with credit problems such as: Judgments. Foreclosure.

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Better Credit Blog

FEBRUARY 24, 2021

If you’ve fallen behind on payments in an industry like one of the ones listed below, it could be to blame for the collections entry on your report: Bank credit cards. Whenever a lender or company like your phone or internet provider doesn’t receive a payment from you, they may eventually hire a collections agency for assistance.

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Better Credit Blog

DECEMBER 2, 2020

billion of consumer auto debt, purchased from banks and auto financers. When lenders and service providers are unable to reach you and you fail to make a payment on your account, they eventually turn over your debt to a collections agency like Autovest. Send a debt validation letter. Send a Debt Validation Letter.

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Better Credit Blog

FEBRUARY 15, 2021

How FCO Collections Works. If you miss a payment, your landlord, cable provider, lender, or bank will contact you repeatedly to seek repayment. Unless you settle your account, it will eventually enter collections. Ask Lex Law for Help. It also has provisions to help ensure accurate reporting, which we’ll cover below.

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Better Credit Blog

FEBRUARY 24, 2021

If you’ve fallen behind on payments in an industry like one of the ones listed below, it could be to blame for the collections entry on your report: Bank credit cards. Whenever a lender or company like your phone or internet provider doesn’t receive a payment from you, they may eventually hire a collections agency for assistance.

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Troutman Sanders

DECEMBER 28, 2020

In a new decision slated for publication, the Sixth Circuit weighed in on an issue under the Fair Debt Collection Practices Act (FDCPA): whether a “benign language” exception exists to a flat prohibition of substantive information appearing on an envelope containing a letter from a debt collector.

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Better Credit Blog

FEBRUARY 5, 2021

If your lender or service provider isn’t able to collect payment for your debts, they will go into collections. When this happens, a negative entry is added to your credit report , and your debt is turned over to a collections agency. You should also read up on the Fair Debt Collection Practices Act.

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Better Credit Blog

FEBRUARY 15, 2021

How Fairway Collections Works. If you have debt in any of the areas listed above, Fairway Collections is legally allowed to contact you to collect. Lenders and companies who provide you with paid services will attempt to reach you to collect payment on late accounts for a period of time. Charge-offs.

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Better Credit Blog

FEBRUARY 19, 2021

If your loved one passed away while carrying debt in one of the industry’s above, you could be contacted by DCM Services to settle the account. Third-party collections agencies are called in when lenders and service providers are unable to collect payments from consumers. Billing and customer service. Repossessions.

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Better Credit Blog

NOVEMBER 5, 2020

When debt collectors purchase debts from service providers and lenders, they don’t always have the documentation required to validate your debt. Bottom line: If it hasn’t been more than 30 days since Stellar Recovery showed up on your report, give debt validation a shot. Dealing with Stellar Recovery Inc.

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Better Credit Blog

FEBRUARY 18, 2021

The agency specializes in consumer collections, commercial collections, and medical device recovery. Here’s how BYL Collection Services and other agencies like it work. When you owe money to a lender or a service provider, they will send you reminders and request payment. Charge-offs. Foreclosures. Hard inquiries.

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Better Credit Blog

FEBRUARY 5, 2021

Some businesses have their own collections department that handles delinquent accounts. Others employ debt collectors like BRG. This type of third-party agency might: Buy your debts at pennies on the dollar, or. Be paid by the lender to help collect debts. Dispute process. Reporting errors. Identity fraud.

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Better Credit Blog

SEPTEMBER 4, 2020

They will appear on your credit report as a collection agency, and this entry can cause problems for your credit score. Not only are debt collectors annoying but having one like TrueAccord on your credit report can let other lenders know that you tend to be late on payments.

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National Service Bureau

DECEMBER 9, 2015

That is, whether a debtor is a military member or not is helpful information to know, and should be passed along with other collection information (such as whether they are represented by an attorney, address, etc). Distinguishing and investigating disputes.

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Troutman Sanders

AUGUST 1, 2023

An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. The OAG initially filed the lawsuit in June 2021, and as part of the judgment, between $450,000 and $2.5 The amendment, led by U.S. For more information, click here.

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Better Credit Blog

NOVEMBER 17, 2020

That means you have 30 days to mail MBA Law a debt validation letter. If you submit this letter in that timeframe, the agency is required by law to provide evidence of the debt. This could include important details about your original lender or provider, your account number, and dates surrounding your account.

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Better Credit Blog

OCTOBER 19, 2020

You can use our sample debt validation letter to get started. Once your request has been received, the agency has to supply you with some details about your debt, like your account name, the lender or service provider who originally owned the debt, and your balance. Aggressive collection attempts. and 9 p.m.

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