Collections Financial services Legal Rights 
Jimerson Firm
FEBRUARY 10, 2022
At the same time, however, the account owner/debtor is still responsible for the balance, and the lender/creditor can still make an effort to collect what is owed, with obvious exceptions being discharged or dischargeable bankruptcy filings. Collecting Debts After 1099-C Issuance. Charging Off” Uncollectable Debt. 1.6050P-1(b)(2)(i).
Jimerson Firm
DECEMBER 14, 2021
Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. A person attempting to collect his or her “own” debt, is not a debt collector under the FDCPA. See Stanley v.
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Nexa Collect
NOVEMBER 1, 2021
That is why a creditor must attempt to file a legal suit in which the debtor must declare all his assets under oath when asked by the judge. Debtors are legally bound to pay their liabilities like outstanding credit cards or unpaid bills etc. How do traditional payment methods work to collect payments?
Collection Industry News
DECEMBER 16, 2024
The FTC filed lawsuits in September 2020 against National Landmark Logistics and Absolute Financial Services, which operated under other names including National Landmark Service of United Recovery, Silverlake Landmark Recovery Group, Absolute Financial Services Recovery, AFSR Global Logistics, and Tri-Star.
Troutman Sanders
FEBRUARY 28, 2022
In late January, the Consumer Financial Protection Bureau (CFPB) released its 2022 “ List of Consumer Reporting Companies.” This list purports to give consumers “the details [they] need to take action” against companies that collect consumer information and prepare consumer reports.
Troutman Sanders
SEPTEMBER 15, 2023
In the press release announcing the issuance of the report, CFPB Director Rohit Chopra stated, “[t]uition payment plans offered by schools may look like a good option, but this report shows student borrowers can end up paying high fees, be forced to sign away their legal rights, or even have their transcript withheld by their school.”
Jimerson Firm
FEBRUARY 22, 2024
The Florida Consumer Collection Practices Act (FCCPA) is a pro-consumer statute. Unlike the FDCPA, which only applies to debt collectors, the FCCPA applies to all persons or businesses collecting consumer debts. As such, all businesses need to be aware of the statute and the risk and potential liability associated with the statute.
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