Acquisition Debt collector Lender 
Consumer Financial Services Law
MAY 10, 2017
A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.
Troutman Sanders
AUGUST 11, 2022
Associate Carlin McCrory is a regulatory, compliance, and payments attorney with experience representing financial institutions, fintechs, lenders, debt collectors, payment processors, neobanks, virtual currency companies, and mortgage servicers.
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Better Credit Blog
AUGUST 17, 2020
Apart from being annoying, these debt collectors can cause a host of problems for your credit score down the line. Collection accounts can hurt your credit score even after you pay off the debt. These entries remain on your credit report for up to seven years, which means that they can be viewed by creditors and lenders.
Better Credit Blog
SEPTEMBER 29, 2020
Debt collectors can cause a lot of problems for your credit score down the line. Collection accounts can hurt your credit score for up to seven years even after you pay off the debt. They can also be viewed by lenders down the line, which means you could be denied loans or credit cards. Request Debt Validation.
Better Credit Blog
AUGUST 17, 2020
When a debt collector like Cavalry SPV ends up on your report, it can do severe damage to your credit score for years, even if you pay off your debts. The agency also uses aggressive tactics to collect on debts, which can add stress to an already nerve-wracking situation. Send a debt validation letter.
Better Credit Blog
AUGUST 31, 2020
If you have started hearing from a company called Convergent Outsourcing, it means that you are being pursued for a debt. Besides being annoying and aggressive, debt collectors like Convergent Outsourcing can have a major impact on your credit score. This legislation is called the Fair Debt Collection Practices Act.
Troutman Sanders
MAY 5, 2022
The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. Debt Collection. The CFPB believes that debt collectors misrepresent consumers’ responsibilities in cases of identity theft.
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