Consumer Finance

OCTOBER 14, 2020

On October 15, 2020, the Consumer Financial Protection Bureau filed a proposed stipulated final judgment and order to settle its lawsuit against Encore Capital Group, Inc., and its subsidiaries.

Credit Management 95

Credit Management Debt collector Judgment Collections 95

Account Recovery

JULY 2, 2024

Good news for the industry in the form of a positive ruling in an “inconvenient time or place” lawsuit filed against a collection operation.

Fair Debt Collection 130

Fair Debt Collection Judgment Collections Credit Management 130

Account Recovery

JUNE 24, 2024

A District Court judge in Missouri has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling that the plaintiff lacked standing and that the defendant did not violate the FDCPA.

Fair Debt Collection 130

Fair Debt Collection Judgment Collections Credit Management 130

The Kaplan Group

NOVEMBER 9, 2020

In collections, we often have to weigh risk and reward and make similar calculations. When trying to decide what the riskier or safer course of action is, we consider not only the amount of money owed, but also the specific debtor company and management, the business sector and the economy in general. Does the reward justify the risk?

Collections 59

Collections Collection Agent Debtor Credit Management 59

Credit Management Company

JULY 14, 2021

Everyone in the debt collection industry is familiar with the Fair Debt Collections Practices Act (FDCPA). Reputable collections agencies willingly follow these rules and treat patients with compassion and respect. Preferred Collection and Management Services, Inc. Now the FDCPA is in the news again.

Collections 52

Collections Debt collector Collections Agency Collection Agencies 52

Jimerson Firm

JULY 30, 2020

Goldome Realty Credit Corp., 1st DCA 1992) (providing that where the borrower filed for bankruptcy after a default judgment of foreclosure, the lender was able to sever its claim for enforcement of the personal guaranty and pursue the personal guarantor). See, e.g. , Guirlinger v. 2d 1135, 1136 (Fla. This prevents a double recovery.

Lender 98

Lender Foreclosure Loans Banks 98

The McHughes Law Firm

JUNE 22, 2016

It is a prudent credit manager that attempts to obtain personal guarantees from the principals of an incorporated entity to which credit is being extended. Guarantees can be classified as being either guarantees of payment or guarantees of collection, and the distinction is important to recognize.

Commercial Collection 40

Commercial Collection Collections Creditors Credit Management 40

Consumer Financial Services Law

MARCH 1, 2018

2017) regarding revival warnings in collections letters on time-barred debt. Midland Credit Management, Inc. The ruling resulted in summary judgment as to liability for a certified class of plaintiffs due to a collection agency failing to include a warning that payment could revive the statute of limitations on time barred debt.

Collections 40

Collections Debt collector Judgment Credit Management 40

CICM

JULY 14, 2023

The main options available are: Instruct a debt collection agency that has the time, expertise and resources to recover your debt. Make sure you fully understand the charging structure before agreeing and use an agency that is registered with the Credit Services Association. which secures repayment of the debt when the asset is sold.

Unsecured Creditor 52

Unsecured Creditor Credit Management Collections Agency Collection Agencies 52

On Guard

MARCH 23, 2022

To retain existing staff and attract new employees, companies need to look at ways to appeal to the remote working mindset while also managing salary expectations. Credit management firms have been left in a particularly tough position. Optimise your team with the right credit management software.

Credit Management 52

Credit Management Judgment Collections 52

CICM

NOVEMBER 6, 2020

Trust your judgment in making decisions that are in the best interests of your business. Trust your training, and the skills you have acquired as credit professionals, and take the opportunity to learn more. The post Back yourself to win – by Sue Chapple FCICM appeared first on Chartered Institute of Credit Management.

Credit Management 45

Credit Management Judgment Collections 45

Receivables Control

MAY 30, 2018

I assist troubled companies that have poor credit policies and are trying to improve their accounts receivable. In 30 years of doing so, I frequently encounter stressed out credit managers. The credit manager is taking heat for the companies’ cash flow troubles. Is billing slow to issue credits?

Credit Management 40

Credit Management Accounts Receivables Management Collections Education 40

Collection Industry News

OCTOBER 27, 2020

Midland Funding, LLC, Midland Credit Management, Inc., The stipulated final judgment and order will require the defendants to pay $79,308.81 The post CFPB settles lawsuit filed against debt collectors and debt buyers for alleged violations of CFPA, FDCPA, and 2015 consent order appeared first on Collection Industry News.

Debt collector 40

Debt collector Law Firms Credit Management Judgment 40

Collection Industry News

NOVEMBER 2, 2020

Midland Credit Management, Inc. In Preston , the debt collector sent a collection letter that was inside of an envelope, which itself was inside another envelope. ” with no other reference to the creditor in the collection letter, was insufficient to meet the FDCPA’s standard. Niagra Credit Sols.

Debt collector 40

Debt collector Judgment Creditors Construction 40

Collection Industry News

JANUARY 29, 2021

Court of Appeals for the Seventh Circuit recently vacated judgment in favor of a debt collector against putative class action claims raised by a consumer that its collection letter violated the federal Fair Debt Collection Practices Act (FDCPA) by threatening action that could not legally be taken and amounting to a false representation.

Debt collector 40

Debt collector Fair Debt Collection Judgment Creditworthiness 40

Credit Management Company

AUGUST 9, 2022

While many consumers are able to manage their debt load and stay current on their accounts, many businesses are finding themselves with uncollected debt and no proven collection strategy. Before you can collect on any debt, you need to validate the debt in accordance with the Fair Debt Collection Practices Act.

Debt collector 52

Debt collector Debtor Fair Debt Collection Original Creditor 52

Collection Industry News

JULY 19, 2021

The law requires the agencies to conduct a “reasonable reinvestigation” when borrowers complain of inaccuracies in their credit report. The post 7th Circuit Says Credit Agencies Need Not Dig Into Debt Ownership appeared first on Collection Industry News. Brennan, joined by Circuit Court Judges Diane Wood and Amy St.

Law Firms 40

Law Firms Debt collector Credit Card Debt Consumer Credit 40

ABI

JANUARY 12, 2022

5] In an attempt to discharge her student loan debts, she also filed a complaint against, among others, the United States of America (collectively, the “Defendants”), seeking a discharge under section 523(a)(8). [6] 7] The debtor disagreed and filed a cross motion for Summary Judgment. [8]. United States Dep’t of Educ. , 523(a)(8)).

Student loans 45

Student loans Student Loans Loans Debtor 45

FDCPA Defense

NOVEMBER 11, 2014

Section 1692g requires that within five days of the “initial communication with a consumer in connection with the collection of any debt” a collector must send the consumer a written notice containing, inter alia , the amount of the debt, and the name of the creditor to whom the debt is owed. See 15 U.S.C. 1692g(a)(1), (2). 1692g(a)(4).

Debtor 40

Debtor Debt collector Creditors Original Creditor 40

Account Recovery

FEBRUARY 3, 2025

A District Court judge in California has denied a plaintiff’s motion for default judgment and granted a defendant’s motion to set aside default in a Fair Debt Collection Practices Act case, ruling that the defendant was not properly served and had demonstrated a meritorious defense.

Judgment 130

Judgment Fair Debt Collection Construction Creditors 130