Taurus Collect

JUNE 16, 2024

Why Compliance and Regulations Matter in UK Lending Understanding the importance of compliance and regulations in debt collection is crucial for debt collecting companies in the UK. They oversee debt collecting companies to ensure fair treatment of customers.

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Troutman Sanders

AUGUST 31, 2023

According to the CFPB, the defendants employed the same business model, i.e., purchasing portfolios of defaulted consumer debt and then placing the portfolios with other debt collection companies. The complaint went on to allege that the debt collection companies used unlawful tactics to collect the unpaid debt.

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Collection Industry News

MARCH 7, 2022

More than half of the debt that appears on credit reports as being in collection stems from medical bills, the agency found. Unpaid medical bills became a bigger concern during the pandemic, and now, a federal consumer agency is considering whether those debts should be banned from consumer credit reports.

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Troutman Sanders

SEPTEMBER 7, 2021

According to the complaint, “FCO and Sobota operate the largest debt collection company in the multiunit housing industry, and they collect debt on behalf of large apartment complexes, including student and military housing, and assisted-living facilities.” District Court for the District of Maryland.

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Taurus Collect

JANUARY 20, 2023

In addition, checking credit reports also provides insight into whether or not a particular consumer is likely to take legal action against them if they are having trouble repaying their debts. This means that any debt collector who contacts you must first request your written consent to view your credit report.

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Troutman Sanders

MAY 2, 2023

Senate Committee on Banking held a full committee hearing, titled “Oversight of the Credit Reporting Agencies.” Chairman Sherrod Brown (D-OH) described consumer credit reports as “riddled with errors.” Brown argued that medical debt “correlates with illness,” not with credit risk. On April 27, the U.S.

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Burt and Associates

OCTOBER 31, 2024

Introduction: Provides an overview of the CFPB’s enforcement actions addressing illegal debt collection practices in 2023. Case Summaries: Summarizes four specific enforcement actions taken by the CFPB against debt collection companies, highlighting the violations found and the remedies imposed. Enforcement 5.1

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