Credit Management Company

JANUARY 25, 2022

Agencies work on a contingency basis - they only get paid when the debt has been collected. However, a commercial collection agency is unlike a consumer collection agency. You might be wondering which restrictions apply to commercial collection firms and agents. The end-target is different.

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Collection Industry News

DECEMBER 19, 2023

The Consumer Financial Protection Bureau (CFPB) today took action against a medical debt collector, Commonwealth Financial Systems, for illegally trying to collect unverified medical debts after consumers disputed the validity of the debts. WASHINGTON, D.C. – Read today’s order. Along with the U.S.

Third-party Debt Collectors 40

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Collection Industry News

SEPTEMBER 23, 2020

Section 1692(f) of the FDCPA prohibits a debt collector from using unfair or unconscionable means to collect any debt, and enumerates specific examples of prohibited conduct. Among other things, the term “debt collector” does not include “any person collecting or attempting to collect any debt owed or due.

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Collections Debt collector Fair Debt Collection Loans 40

Better Credit Blog

FEBRUARY 18, 2021

BYL Collections isn’t a household name, but it collects for several businesses across multiple industries. Based in Westchester, Pennsylvania, BYL is a third-party collections agency that was founded in 1998. The agency specializes in consumer collections, commercial collections, and medical device recovery.

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Collections Debt collector Collections Agency Collection Agencies 52

Collection Industry News

JULY 12, 2022

Court of Appeals for the Eleventh Circuit recently held that periodic statements required by the federal Truth in Lending Act may violate the federal Fair Debt Collection Practices Act if they are not truthful and fair. See Consumer Fin. Source: site. A copy of the opinion in Lamirand, et al v. See 15 U.S.C.

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FDCPA Defense

AUGUST 16, 2012

On February 17, 2012, the CFPB published its Proposed Rule Defining Larger Participants in Certain Consumer Financial Product and Service Markets. Entities in the debt collection market that generate $10 million in annual receipts from consumer collection activities would be deemed a “larger participant” in the market.

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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. See Avila , 817 F.3d 3d at 76-77.

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Account Recovery

NOVEMBER 21, 2024

The plaintiff claimed that this late-hour email violated both the FDCPA and the Florida Consumer Collection Practices Act (FCCPA), which restrict communications with consumers outside certain hours. Specifically, under both acts, a debt collector may not communicate with a consumer between 9 p.m.

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Troutman Sanders

AUGUST 2, 2021

Established by the Economic Growth, Regulatory Relief, and Consumer Protection Act, IPAC consists of 21 members, who serve staggered three-year terms and bring professional backgrounds in insurance accounting, actuarial science, academia, insurance regulation, and policyholder advocacy. For more information, click here.

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