Collection Industry News

JUNE 1, 2023

Introduction: The debt collection industry plays a vital role in the global economy, helping businesses recover outstanding debts and maintain financial stability. The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts.

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FFGN COLLECT NY

FEBRUARY 10, 2021

If collecting debts owed to your business is draining your time, patience, and resources, it’s time to consider hiring a professional. The internet is awash with ads for collection agencies that promise to obtain money for you, but their harsh and aggressive collection techniques could reflect badly on your business.

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Better Credit Blog

AUGUST 31, 2020

Having debt in collections can be downright overwhelming, especially when debt collectors bombard you with dozens of phone calls. Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. Table of Contents.

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Consumer Financial Services Law

APRIL 16, 2018

A district court has dismissed an FDCPA action based on a bona fide error after reviewing the collection firm’s extensive pre-suit procedures and determining they were reasonably calculated to avoid any errors. Guynn defaulted on his Bank of America credit card in 2013, and in 2016 the account was referred to a law firm for collection.

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Collection Industry News

DECEMBER 21, 2020

Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a defendant debt collector against claims that it violated the federal Fair Debt Collection Practices Act (FDCPA) by attempting to collect a debt that was discharged in bankruptcy and no longer owed.

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Collections Law

JULY 1, 2020

You’ve tried everything in your power, but the debtor doesn’t respond or keeps making excuses to buy more time. You might be preparing to write off these dues as bad debts — but there is still light at the end of the tunnel. The experienced collection attorneys at the Law Offices of Alan M. The Law Offices of Alan M.

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Collections Law

MAY 7, 2020

When the time comes to return to normalcy, you should be prepared to return to business as usual, including collecting any outstanding debt you may currently be owed. Navigating this with the help of an experienced collection attorney is critical, and the Law Offices of Alan M. Cohen LLC can provide you with just that.

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Collection Industry News

FEBRUARY 25, 2022

Rodenburg Law Firm is available at: Link to Opinion. Debtor brought suit under 15 U.S.C. The parties stipulated as to remedy, and the trial court entered final judgment awarding Debtor statutory damages plus attorney’s and filing fees. A copy of the opinion in Ojogwu v. 1692c(a)(2) of the FDCPA.

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Consumer Financial Services Law

FEBRUARY 18, 2019

McCarthy & Holthus LLP regarding whether non-judicial foreclosures qualify as debt collection under the FDCPA, the Sixth Circuit doubled down on its position that non-judicial foreclosures are debt collection. Trott Law, P.C. Building on its 2013 decision in Glazer v. Chase Home Finance LLC., 3d 453 (6th Cir.

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Consumer Financial Services Law

MARCH 23, 2021

Specifically, the debtor took issue with a disclosure in the validation notice, which she attached to her complaint, that provided “[i]n making this demand we are relying entirely on information provided by our client.” The disclosure at issue placed the law firm in a somewhat awkward position. communication is from an attorney.”

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The McHughes Law Firm

AUGUST 29, 2016

New business debt collection may be the last thing on your mind as you juggle all the different moving parts the come with starting a business. If you are in the process of starting a new business, debt collection on past due accounts is likely not even on your radar yet. 4: Debt Collection is Too Expensive.

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Troutman Sanders

FEBRUARY 14, 2022

LPA (Weltman), a law firm tasked with collecting the debt owed by Alina Khimmat, sent information, including Khimmat’s name, address, status as debtor, details of the debt, and other personal information, to a letter vendor hired to assist the firm in collecting the debt. See 15 U.S.C.

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Better Credit Blog

APRIL 1, 2022

Is Credence Resource Management, LLC, contacting you about unpaid debts? The longer you avoid a debt collection agency like Credence, the more damage the agency can do to your credit score. Over the years, Credence has collected a lot of debt, earning a profit of $5 million last year. Send a Debt Validation Letter.

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Collection Industry News

NOVEMBER 2, 2020

Mario Barboza was a resident of Collin County, Texas when Pharia, LLC, successor in interest to defendant Pallida LLC, filed a collections action in 2010 in Denton County, Texas to recover the balance due on Barboza’s credit card. In early 2011, a default judgment was obtained against Barboza.

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Troutman Sanders

OCTOBER 28, 2020

Mario Barboza was a resident of Collin County, Texas when Pharia, LLC, successor in interest to defendant Pallida LLC, filed a collections action in 2010 in Denton County, Texas to recover the balance due on Barboza’s credit card. In early 2011, a default judgment was obtained against Barboza.

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FDCPA Defense

FEBRUARY 3, 2019

Attorneys who regularly engage in collection work for community associations have increasingly become targets for lawsuits filed by professional consumer attorneys under the Fair Debt Collection Practices Act (“FDCPA” or “the Act”), 15 U.S.C. and analogous state laws. 2012) (intent of debtor at time of purchase controls).

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Debt Free Colorado

MARCH 3, 2023

Every case is unique, and every case merits the careful consideration of a law firm dedicated to providing specialized bankruptcy solutions. This type of bankruptcy enables the debtor to combine their debts, reach an agreement on a lower overall number and submit to a three-to-five-year plan for debt repayment.

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FDCPA Defense

MAY 11, 2017

Grappling with the meaning of the so-called “meaningful involvement” doctrine is one of the most elusive and frustrating compliance challenges for collection attorneys and their clients. What exactly must a collection attorney do to ensure they are “meaningfully involved” in a file before sending a collection letter to a consumer?

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Troutman Sanders

JANUARY 11, 2021

On December 15, 2020, the Seventh Circuit Court of Appeals decided four cases which all dealt with the issue of standing within the context of the Fair Debt Collection Practices Act (“FDCPA”). State Collection Service Inc. The Spuhlers alleged in their complaint that State Collection Service, Inc. (“SCS”) In Bazile v.

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FDCPA Defense

APRIL 17, 2019

Indeed, the “meaningful attorney involvement” theory has been embraced by the Consumer Financial Protection Bureau (“CFPB”) in its enforcement actions against large creditors’ rights law firms. The CFPB is expected to announce proposed debt collection rules in the near future that may incorporate the theory. 1692, et seq.

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FDCPA Defense

FEBRUARY 1, 2018

Attorneys and other entities that regularly engage in collection work for community associations may be subject to the requirements of the Fair Debt Collection Practices Act, 15 U.S.C. as well as analogous state laws governing the consumer collection process. Riexinger & Associates, LLC , 817 F.3d

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Credit Corp

SEPTEMBER 12, 2023

You can remove collection accounts from your credit report by disputing inaccuracies, asking for goodwill deletions, or requesting a pay for delete agreement. Collection accounts are bad for your credit score. So if you have a debt in collections, your credit score has likely taken a dip.

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FDCPA Defense

MARCH 23, 2015

The FDCPA prohibits a collector from placing “any language or symbol” on a debt collection envelope, other than the collector’s address. That’s right, you read that sentence correctly – absolutely nothing can be safely placed on the envelope, except for the collector’s address. Collection Accounts Terminal, Inc.,

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FDCPA Defense

JANUARY 28, 2012

Debt buyers are being sued based on the conduct of their agencies and law firms. Lawyers and agency owners are being sued based on the conduct of their clients and their collectors. How can debt collectors avoid liability for the conduct of others? What are the limits of vicarious liability under the FDCPA?

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FDCPA Defense

AUGUST 22, 2016

Courts apply the very pro-consumer “least sophisticated debtor” standard when evaluating a collector’s communications, and most violations of the Act are “strict liability” – meaning the debtor can win the case without proving the collector intended to violate the statute. Hollins Law Firm , _F.3d

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FDCPA Defense

MARCH 2, 2014

The Dodd-Frank Act gave the Consumer Financial Protection Bureau (“CFPB”) sweeping authority to prohibit the use of “unfair, deceptive or abusive” acts or practices (“UDAAPs”) in connection with the collection of consumer debts. The Asset Consent Decree also reflects the FTC’s hostility to collecting time-barred debts.

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