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Compliance Digest – December 30

Account Recovery

A pro se consumer had managed to get a 3-judge panel of the Court of Appeals to reverse (in a 2-1 decision) lower court rulings finding that PRA had established its standing to sue and its ownership of the debtors account in the underlying collection action, and judgment in its favor on the debt.

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What is a Judgment?

Credit Corp

A judgment is an order issued by a court of law. This includes opening a credit card account, getting a line of credit from your bank and obtaining financing for a big purchase. If they are successful, the court issues a judgment against you. What Happens After a Judgment Is Entered Against You? These laws vary.

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What Is a Judgment?

Credit Corp

A judgment is an order issued by a judge or jury to settle a lawsuit. In this case, the judge may order you to pay the other party as part of the court’s final judgment. The order can be issued in one of two forms: A monetary judgment: A judgment that orders one party to pay the other party a specific amount of money.

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How to Remove Civil Judgments From Your Credit Report

Better Credit Blog

In my recent experience, it’s not hard to remove judgments from your credit report as long as you follow the proper steps. Many readers assume it’s impossible to have the credit bureaus remove civil judgments because they involve the court system. If so, removing the judgment shouldn’t be too big of a hassle.

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Dealing with Debt Collectors

Debt Free Colorado

Bankruptcy may appear to be a scary process, but it does not have to be. You may be able to apply for one of many different types of bankruptcy, each of which accomplishes various aims, depending on your specific situation. What is Colorado Uniform Consumer Credit Code (Colorado UCCC).

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Texas A&M Journal of Property Law CFP for consumer law symposium

Public Citizen

  In addition, the Symposium welcomes discussion over the recent decision by the Uniform Law Commission to address debt collection efforts by third-party debt collectors or buyers based on default judgments.    Selected papers are due after the Symposium on June 4, 2021.   

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CFPB Report Reveals Impact Removal of Public Records Has on Credit Reporting: Did it Make a Difference?

Consumer Financial Services Law

The CFPB recently issued its second Quarterly Consumer Credit Trends Report which examines the impact of changes to credit reporting regarding the reporting of civil public records. In 2015, the three major credit reporting agencies (“CRAs”) entered into settlements with over thirty states.