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Daily Digest – October 3. Collector Not Obligated to Notify Creditor of Dispute; Legal Challenges to Student Loan Debt Cancellation Plan Launched

Account Recovery

COLLECTOR NOT OBLIGATED TO NOTIFY CREDITOR OF DISPUTE A judge in Oklahoma has granted a motion to dismiss, ruling the defendant was not obligated under the Fair Debt Collection Practices Act to notify the original creditor that a debt was being disputed.

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Dealing with Debt Collectors

Debt Free Colorado

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. What is the Federal Fair Debt Collection Practices Act (FDCPA)?

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What Happens if you Ignore a Debt Collection Agency

Nexa Collect

Credit Score Impact : The collection account may be reported to the credit bureaus, negatively affecting your credit score. This can make qualifying for credit cards, loans, mortgages, or even certain jobs harder. Increased Debt : If you ignore the debt, interest and fees may accumulate, potentially increasing the total amount you owe.

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What Is Zombie Debt and Why Is It a Problem?

Credit Corp

Zombie debt is a broad term that refers to past debts that are still affecting you. An example of zombie debt is a three-year-old loan that should be paid off. The term “zombie debt” refers to a past debt that shouldn’t affect you anymore yet continues to appear on your credit report.

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Debtor Protections and Consumer Rights in New York: An Attorney’s Perspective

FFGN COLLECT NY

There are many ways to request debt verification, such as writing a request letter. The letter must detail the specific information you require, such as proof of agreement with the original creditor, a final account statement issued by the creditor, and a breakdown of the debt (due dates, interest rate, and principal amount).

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What is Caine and Weiner?

Debt Collection Answers

Caine and Weiner specialize in reporting collections accounts on credit reports. Having a collections account from Caine and Weiner on your credit report can damage your credit score and make obtaining loans and other financial activities difficult.

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A Swing and a Miss: Court Finds Plaintiff Lacks Standing to Assert FDCPA Claim After Prevailing in State Court

Troutman Sanders

district judge in Arkansas recently granted the defendant McKendra Adams’s (Adams) motion to dismiss for lack of standing involving an alleged violation of the Fair Debt Collection Practices Act (FDCPA). The case began when Cheatham defaulted on a car loan and surrendered the vehicle, which was sold at auction.