Account Recovery

APRIL 18, 2024

The Attorney General of New York yesterday announced that a financial institution will pay $700,000 in fines and penalties for illegally freezing customer accounts and sending debt collectors tens of thousands of dollars that should have been protected or exempt from garnishment.

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Account Recovery

NOVEMBER 16, 2021

Judge Denies Plaintiff’s Motion to Remand FDCPA Case; Bank Settles Collection Call Lawsuit For $3.5M appeared first on AccountsRecovery.net.

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UK debt collections

MARCH 5, 2025

Bristol based debt recovery business which didnt hand over money is shut down An Insolvency Service investigation found that Encore Capital Group Inc Ltd trading as Encore Debt Recovery failed to fully hand over the money it collected it has been revealed. Have you been the victim of Scam Debt Collectors?

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Account Recovery

JANUARY 13, 2025

A District Court judge in Arizona has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling that the plaintiff failed to sufficiently establish the defendant’s status as a “debt collector” under the statute and did not plead adequate facts to support the alleged violations.

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Account Recovery

MARCH 11, 2025

Why it matters: For professionals in debt collection agencies, debt buying companies, fintechs, banks, credit unions, and consumer finance firms, these findings underscore a growing vulnerability among older borrowers.

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Account Recovery

OCTOBER 15, 2024

A New Jersey Appeals Court has affirmed a lower court’s decision in favor of a debt collector after the consumer appealed rulings denying his attempt to vacate a bank levy and default judgment as well as a motion for reconsideration.

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Credit Corp

JUNE 3, 2021

Can debt collectors take money from your bank account to offset debts you owe them? How to Open a Bank Account That No Creditor Can Touch. In truth, it’s fairly rare to have a bank account that no creditor can touch. Don’t Let Debts Get to the Garnishment Stage. Try ExtraCredit.

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Account Recovery

NOVEMBER 7, 2022

The Massachusetts Division of Banks has issued a cease and desist order to a debt collector that has been accused of operating in the state for more than six years without a license, in violation of state law. Regulator Issues Cease Order For Unlicensed Collector appeared first on AccountsRecovery.net.

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Account Recovery

SEPTEMBER 1, 2021

The Connecticut Department of Banking has fined a debt collector for collecting interest in violation of state law on one account during a 15-year period, in the latest in a series of enforcement actions taken against companies in the accounts receivable management industry.

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Account Recovery

DECEMBER 2, 2024

The big picture: The financial services industry, including banks, credit unions, fintechs, and debt collectors, increasingly relies on AI for various functions, from assessing creditworthiness to customer service automation. With such reliance comes the responsibility to ensure AI is used ethically and transparently.

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Account Recovery

MAY 27, 2021

The Connecticut Department of Banking is not happy with a debt collector that filed for bankruptcy protection without making the proper notifications, among other alleged violations, and has issued a $500,000 fine, revoked its license, and ordered it to cease and desist from violating state law, although many of the penalties are likely to be … (..)

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Better Credit Blog

APRIL 4, 2022

If you are like most people, you have dealt with or are currently dealing with debt collectors. I’ve been preaching about the dangers of debt collectors for years and get countless emails from readers who end up in trouble by answering the phone when a debt collector calls. Talk to Credit Saint.

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Account Recovery

AUGUST 27, 2021

A quartet of individuals have been charged with conspiracy to commit wire fraud and conspiracy to commit bank fraud in a $150 million payment processing scheme that included facilitating transactions for debt collectors, and one of the individuals remains at large, according to an indictment that was unsealed yesterday in Massachusetts federal court. (..)

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Collections Debt collector Banks 246

Account Recovery

MARCH 10, 2025

ROBBIN LAW: After the New York Attorney General Letitia James (NYAG) recent crack downs on debt collectors violations of New Yorks Exempt Income Protection Act (EIPA), the NYAG has provided debtors with a guide on their rights under the EIPA. More details here. WHAT THIS MEANS, FROM JACQUELYN DICICCO OF J.

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Account Recovery

JULY 14, 2021

The Massachusetts Division of Banks — which regulates debt collectors in the Commonwealth — has formally authorized guidance that will allow for the “continued operation for personnel to operate remotely from non-licensed locations,” meaning that companies can have employees working remotely, including from their homes.

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Account Recovery

AUGUST 14, 2020

A bill that would require debt collectors in California to obtain licenses in order to stay in business moved one step closer to becoming a law yesterday, after being approved by the Assembly Banking and Finance Committee. The bill, SB 908, has already been approved by the state Senate.

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Account Recovery

DECEMBER 13, 2022

The Consumer Financial Protection Bureau yesterday issued a proposed rule that would require non-banks — such as debt collectors — to report enforcement actions and court orders to a public registry that would be used to detect repeat offenders and give the CFPB and other enforcement agencies insights to help it “take action to stop (..)

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Account Recovery

MAY 22, 2024

The Maryland Department of Labor’s Office of Financial Regulation has announced a settlement with a number of companies now owned by the Bank of Missouri for not being properly licensed in the state to provide retail credit services and for engaging in unlicensed and unregulated debt collection activities.

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Debt Free Colorado

FEBRUARY 21, 2022

In this article we will answer the question: What can debt collectors do to you? 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.

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Account Recovery

AUGUST 25, 2020

GARNISHMENT LAW SET TO GO INTO EFFECT NEXT WEEK An online press conference has been scheduled for later today to discuss a new law that is going into effect in California next week that limits how much debt collectors can garnish from an individual’s bank account when seeking repayment on unpaid debts.

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Nexa Collect

JUNE 24, 2023

As per my knowledge, there are no clear guidelines from the government for a debt collector who wants to work from home. Since collection agencies fall under GLBA laws, they are subjected to the same strict laws as large financial institutions like banks. Here are suggestions that will help you maximize your compliance.

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Account Recovery

JANUARY 13, 2025

THE COMPLIANCE DIGEST IS SPONSORED BY: CFPB Targets Workplace Communications by Debt Collectors in Blog Post The Consumer Financial Protection Bureau is back with another blog post warning consumers about unfair debt collection practices, this time surrounding being contacted while at work. More details here.

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Sawin & Shea

JUNE 9, 2021

Whether you have missed a single payment somewhere along the line or are delinquent on several payments, the last thing you want is to be harassed by debt collectors. The FDCPA applies only to debt collectors (the third-party collection agencies), not to the original lender.

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Credit Corp

DECEMBER 14, 2020

If you have debt on your credit reports or are getting calls from a collection agency, you might wonder how long a debtor can try to collect these debts—and how long it can affect your credit score. Can a debt collector collect after 10 years? Can a Debt Collector Collect After 10 Years? Get Help Now.

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American Profit Recovery

MARCH 1, 2023

And it’s meaningful advice that is coming straight from the people that you may not always be interested in speaking with, debt collectors. A common question in this industry and on Internet searches is how to deal with debt collectors. This is your opportunity to begin the process of resolving your debt.

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Sawin & Shea

JULY 20, 2022

Many individuals experience unwanted contact from debt collectors and are unsure how to approach the situation. Businesses or individuals who collect debts on behalf of others are known as debt collectors. The majority of debt collectors work for reputable collection companies.

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Account Recovery

JULY 8, 2021

To Rescind Guidance and Make it Easier to Investigate Student Loan Collectors appeared first on AccountsRecovery.net. The letter was written by … The post State Regulators Ask Ed.

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Account Recovery

APRIL 18, 2024

Getting to Know Eddie Antoniewicz of Royal Credit Union Judge Dismisses FDCPA Suit Over Collection Disclaimer Pathward Bank to Pay $700k in Fines, Penalties For Seizing Funds Paid to Debt Collectors CFPB Fines Vocational School for Deceiving Students, Hiding Finance Charges WORTH NOTING: What you eat during the day can have an impact on how […] (..)

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Account Recovery

AUGUST 25, 2020

An online press conference has been scheduled for later today to discuss a new law that is going into effect in California next week that limits how much debt collectors can garnish from an individual’s bank account when seeking repayment on unpaid debts. The law — SB 616 — was passed and signed by Gov.

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UK debt collections

OCTOBER 27, 2020

Becker had been declared as bankrupt in 2017 due to a large debt owing to a bank. The German national who is now 52, has also been accused of failing to disclose over £1m pounds held in Bank Accounts as well as properties, both in the UK and abroad.

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Account Recovery

MARCH 19, 2021

Previously, on “All My Garnishments” we saw several characters rush to protect the economic stimulus funds that have started landing in consumers’ bank accounts from being garnished by big, bad debt collectors. In today’s episode, Sen. Pat Toomey [R-Penn.],

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Account Recovery

MARCH 18, 2021

As we turn our attention to another episode of “All My Garnishments” there have been a number of developments aimed at keeping debt collectors from garnishing the economic stimulus funds that are now being deposited into the bank accounts of consumers nationwide.

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Public Citizen

DECEMBER 16, 2021

From a Federal Trade Commission press release : A group of phantom debt collectors will be permanently banned from the debt collection industry and required to surrender the contents of numerous bank and investment accounts under the terms of a settlement  with the Federal Trade Commission.

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Credit Corp

AUGUST 31, 2021

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. Can a debt collector collect after 10 years, for example? In This Piece.

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True Accord

OCTOBER 22, 2024

To kick off Q3, the CFPB published Supervisory Highlights sharing key findings from recent examinations of auto and student loan servicing companies, debt collectors and other financial services providers that found loan servicing failures, illegal debt collection practices and issues with medical payment products.

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American Profit Recovery

APRIL 20, 2022

There is no better place to get educated on your financial situation and find ways to improve it than Know My Debt. Never be afraid to have a respectful dialogue with a debt collector. When you speak to a professional collector, you have the opportunity to validate that debt or dispute it. But let’s be clear.

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UK debt collections

JANUARY 15, 2024

DC Brodhurst added: “If you are contacted by someone who says they are working for the court, please use a different phone to contact the court directly before taking any action and seek advice from independent solicitors if there is a debt outstanding. Don’t ever be afraid to seek help – we are here for you.”

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