Debt Free Colorado

FEBRUARY 21, 2022

The Fair Debt Collection Practices Act (FDCPA) applies to collection firms and debt collectors attempting to recover consumer debts. Consumer debts include credit card debts, vehicle loans, medical costs, and school loans. What is Colorado Uniform Consumer Credit Code (Colorado UCCC).

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FFGN COLLECT NY

MAY 24, 2022

Confessions of judgment may no longer be permitted as part of the necessary documents when buying or selling financial services or products to consumers in New York. Senate bill S2632 is another overt action taken by New York state to limit the entry of judgments without due process to the borrower or debtor.

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Troutman Sanders

NOVEMBER 16, 2021

On November 8, New York Governor Kathy Hochul signed into law the Consumer Credit Fairness Act (Act) (Legislation S.153/A.2382). A similar notice is required if a plaintiff files a motion for summary judgment.

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FFGN COLLECT NY

MARCH 15, 2022

The order expired a few years ago and now, probably due to the overwhelming number of lawsuits being filed against consumers for delinquent accounts, six senators have renewed the inquiry into Chase’s collection activities. Domesticating a Foreign Sister State Judgment in New York: It’s in the Affidavit.

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Troutman Sanders

MAY 26, 2021

On March 18, the West Virginia legislature passed Senate Bill 5 , amending the West Virginia Consumer Credit and Protection Act (WVCCPA). The amendments provide more clarity to creditors and debt collectors, as well as tools to avoid litigation.

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Credit Corp

JUNE 8, 2023

The bureaus collect and store your credit information in your credit file for future reference. The three national credit reporting agencies don’t share information with each other and not all lenders or creditors report to each. Learn more about how to dispute an error on your credit reports.

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Account Recovery

SEPTEMBER 30, 2024

The consumer credit card agreement included an arbitration clause that gave the consumer the opportunity to opt out, and she never did. With that, the Court vacated the district court’s judgment and remanded the matter to state court. At risk here was a class-action jury trial. So what’s the takeaway?

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The Kaplan Group

OCTOBER 19, 2020

You may also be responsible for paying the costs of the creditor hiring a collection agency or legal costs. Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. A judgment is the official result of a lawsuit in court. Garnishment.

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FFGN COLLECT NY

JANUARY 6, 2023

Putting an end to the use of wage garnishments (income executions) in New York to collect medical judgments. Prohibiting a creditor from entering or enforcing a medical judgment by placing a lien against a debtor’s primary residence. Bill S9348 : Directs the superintendent of financial services to study overdraft fees.

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Troutman Sanders

SEPTEMBER 7, 2023

et al , the lawsuit arose out of an unpaid consumer credit account with a bank. The bank sold the debt to the defendant creditor. The creditor then placed the account with the defendant law firm for collection. Kohn Law Firm, S.C.

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Consumer Financial Services Law

AUGUST 14, 2017

A recent case out of the District Court for Oregon illustrates the extreme positions being taken by the consumer bar and provides some reassurances to the industry. In Powers v.

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Debt Free Colorado

NOVEMBER 13, 2017

“Freedom deceived consumers about its clout with creditors that it knows do not negotiate with debt-settlement companies, made some customers negotiate on their own, and misled consumers about its fees and their accounts. Today’s lawsuit seeks to stop the deception and get compensation for consumers Freedom cheated.”.

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Collection Industry News

JULY 19, 2021

Circuit Court of Appeals ruled that the Fair Credit Reporting Act does not require consumer credit agencies to further investigate when a borrower disputes a debt collector’s ownership of their debt. Attorneys for the borrowers and credit agencies did not immediately reply to requests for comment on Friday. ’”. “We

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Troutman Sanders

NOVEMBER 2, 2020

State Activities: On October 30, Virginia Governor Ralph Northam signed House Bill 568, which automatically exempts emergency relief payments, as defined in the bill, from the creditor process, including garnishments and liens. For more information, click here. For more information, click here.

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Better Credit Blog

JANUARY 29, 2021

Any time you apply for new credit, like a card, loan, or line of credit, the lender might run a hard credit check. Hard inquires give creditors an all-access pass to your credit reports. Hard inquiries get added as a new entry on your credit report, remaining there for two years. HARD INQUIRIES. Charge offs.

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Troutman Sanders

OCTOBER 16, 2023

In its amicus brief, NASAA pushed back on Coinbase’s motion for judgment on the pleadings, which sought to dismiss the SEC’s case with a ruling that Coinbase has not listed investment contracts based on the existing facts. For more information, click here. On October 8, AB1119 was signed by Newsom. For more information, click here.

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Better Credit Blog

JANUARY 29, 2021

If you applied for a Citibank credit card, the bank might have accessed one or more of your credit reports, meaning each of your reports could feature a hard inquiry. Hard credit pulls let creditors see your credit reports , giving them an idea of how responsibly you use credit. Charge-offs. Debt collectors.

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Better Credit Blog

DECEMBER 30, 2020

a revolving line of credit for financing Dell products. The account offers rewards when you purchase products from Dell using the credit, along with interest-free financing on several products. When DFS/Webbank shows up on consumer credit reports, it’s most likely because an application was submitted, leading to a hard inquiry.

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Consumer Financial Services Law

JUNE 11, 2016

The CFPB makes it clear it intends to “use the information it collects to continue monitoring arbitral proceedings to determine whether there are developments that raise consumer protection concerns that may warrant further Bureau action” and that it intends to publish the information on its website in some form. Proposed 12 CFR 1040.3

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Troutman Sanders

MAY 9, 2023

HB1443 will go into effect on November 1.

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FDCPA Defense

JUNE 9, 2012

The Credit Recovery Co. , 1998) (section 1692e(8) "requires a debt collector who knows or should know that a given debt is disputed to disclose its disputed status to persons inquiring about a consumer's credit history.") (emphasis added); Sunga v. Midland Credit Mgmt., 3d 64, 67 (1st Cir. 3d 755, 757-58 (7th Cir.

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Troutman Sanders

OCTOBER 13, 2023

As background, ECOA prohibits discrimination by a creditor on the basis of race, color, religion, national origin, sex, marital status, age, an applicant’s receipt of public assistance, or the good faith exercise of an applicant’s rights under the Consumer Credit Protection Act. Yesterday, the U.S.

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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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Collection Industry News

JANUARY 13, 2025

In September 2024, itannouncedit would take the bold step of canceling thousands of debt judgments held as liens against patients homes in multiple states, including North Carolina, where the fast-growing chain is headquartered. The hospital chain sued them in 2013 and won a judgment for $5,771. Legal action was taken on less than.0001%

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