Troutman Sanders

SEPTEMBER 18, 2023

The plaintiff filed a class action lawsuit on behalf of himself and similarly situated consumers. The class action complaint alleged that the defendant violated California’s Rosenthal Fair Debt Collection Practices Act (RFDCPA) and several other state consumer protection statutes.

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Account Recovery

SEPTEMBER 30, 2024

Judge Rules Debt Collection Lawsuit Waives Arbitration Clause A District Court judge in Maryland has denied a defendant’s motion to compel arbitration in a Fair Debt Collection Practices Act case, ruling that the defendant waived its right to arbitrate by engaging in prior litigation. More details here.

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Better Credit Blog

DECEMBER 29, 2020

If you have begun receiving calls from a company called Wilshire Consumer Credit, you are probably feeling overwhelmed by their advances. They are a third-party debt collector and auto loan financer out of California. We can help you remove their collection account from your credit report. Ask Lex Law for Help.

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Credit Corp

JANUARY 21, 2021

Numerous federal and state laws protect your rights to fair and accurate credit reporting. Some of those laws also cover your rights as a consumer to fair debt collection practices. It obligates companies to report truthful information on your credit report.

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Troutman Sanders

OCTOBER 26, 2020

October 26, 2020, marks the 50th anniversary of the Fair Credit Reporting Act (FCRA, 15 U.S.C. To celebrate this important milestone, Troutman Pepper’s Consumer Financial Services Law Monitor would like to dedicate today’s blog to the FCRA. 1681, et seq.), and throughout the world.

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Troutman Sanders

APRIL 27, 2023

Jonathan helps businesses navigate and litigate the myriad consumer and financial services laws, particularly with the many “alphabet soup” federal consumer protection statutes, such as the Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), and Fair Credit Reporting Act (FCRA).

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The Kaplan Group

OCTOBER 19, 2020

FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals. Credit Counselor.

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True Accord

APRIL 5, 2023

Directly impacting creditors and debt collectors, a January ruling from the District Court of Puerto Rico found that sending debt collection communications prior to any knowledge of a debtor’s bankruptcy filing is not a violation of the Fair Debt Collection Practices Act (FDCPA).

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Troutman Sanders

AUGUST 31, 2023

On August 22, a district court judge in the Western District of New York denied the defendants’ motions to dismiss a case brought by the Consumer Financial Protection Bureau (CFPB) alleging violations of the Fair Debt Collections Practices Act (FDCPA) and Consumer Financial Protection Act (CFPA).

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Troutman Sanders

SEPTEMBER 7, 2023

The Seventh Circuit Court of Appeals recently affirmed a district court’s dismissal of a suit holding that the plaintiff had not suffered a concrete injury, and therefore, lacked standing to assert a claim under the Fair Debt Collections Practices Act (FDCPA). The bank sold the debt to the defendant creditor. In Choice v.

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FFGN COLLECT NY

JUNE 11, 2020

Back in 2013, we reported the New York State General Assembly’s passage of the Consumer Credit Fairness Act , which introduced new requirements for debt collection litigation against consumers. Now, seven years later, the law has been passed. Suits Past the Statute of Limitations.

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Collection Industry News

JUNE 14, 2023

There are several key consumer laws that collectors should be concerned with when engaging in debt collection practices. These laws aim to protect consumers from unfair, deceptive, or abusive practices. Here are some important consumer laws that collectors should be familiar with: 1.

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Collection Industry News

DECEMBER 25, 2023

Specifically, the CFPB said that the company, which is based in Dickson City, Pennsylvania, “failed to conduct reasonable investigations of disputed debts and failed to inform consumer reporting companies that certain information was being disputed … (and) continued to attempt to collect disputed debts without substantiating documentation.”

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Troutman Sanders

SEPTEMBER 13, 2023

The CFPB should utilize the Fair Debt Collection Practices Act (FDCPA) to hold providers of medical credit cards accountable. Note, we suspect that AG Bonta was intending to reference the Truth in Lending Act (TILA), which contains an ability to repay provision for credit cards.

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Troutman Sanders

DECEMBER 7, 2021

On December 1, the Federal Reserve Board and the CFPB announced the dollar thresholds that determine exemption of certain consumer credit and lease transactions in 2022, from Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing). The CFPB published a guide to help consumers understand the new regulation.

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Troutman Sanders

JANUARY 26, 2023

On January 20, 2023, California Attorney General Rob Bonta submitted a letter to the CFPB agreeing with its preliminary determination that California’s Commercial Financing Disclosures Law (CFDL) is not preempted by TILA because the CFDL only applies to commercial financing and not to consumer credit transactions within the scope of TILA.

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Better Credit Blog

FEBRUARY 15, 2021

Many complaints are centered around reporting errors, harassment, and failure to respond to debt validation requests. Because these issues are frequent with collection agencies like Fairway Collections, you should understand your rights under the Fair Debt Collection Practices Act. Charge-offs. Foreclosure.

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Collection Industry News

NOVEMBER 17, 2024

Gavin Newsom recently signed SB 1286 amending the Rosenthal Fair Debt Collection Practices Act’s coverage to certain commercial debt. Prior to this amendment, the RFDCPA’s restrictions applied only to certain debt collectors and creditors collecting consumer debt. California Gov.

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Troutman Sanders

SEPTEMBER 7, 2021

Inaccurate information, such as information related to tenant debt, can be devastating for someone who’s applying for a loan, seeking a new place to live, or trying to get a new job.” Uejio continued: “We will not tolerate companies that put inaccurate data on consumers’ credit reports or fail to investigate consumers’ disputes.”.

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National Service Bureau

OCTOBER 21, 2015

While many medical collection agencies may think this means they are not subject to CFPB oversight, that is simply not the case. If a medical collection agency of any size is found to have violated the FDCPA (Fair Debt Collection Practices Act) or FCRA (Fair Credit Reporting Act), then the CFPB may appropriately enforce punishment.

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Taurus Collect

SEPTEMBER 2, 2024

These standards not only protect debtors but also uphold the integrity of businesses engaged in debt recovery. Here’s what you need to know: Key Regulations to Consider: The Consumer Credit Act: This act regulates credit agreements and includes provisions that debt collectors must adhere to, ensuring fairness and transparency in all dealings.

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National Service Bureau

JUNE 18, 2015

The Fair Debt Collection Practices Act was passed in 1977 to outline the ways in which consumers can be contacted by collection agencies.

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Troutman Sanders

AUGUST 1, 2023

An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. On July 26, the CFPB published a blog focused on consumer credit scores. Next, the Senate and House will need to reach a compromise between their versions of the bill.

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Debt Free Colorado

JUNE 18, 2024

Contact your friends, family, or employer about your debt. Publicly shaming you for not paying your debt. Falsely inflating the amount of debt you owe. The Fair Debt Collection Practices Act (FDCPA) is a federal law in the United States that protects consumers from creditor harassment.

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Collection Industry News

MAY 18, 2021

In a letter sent to the leaders of the House and Senate , CUNA President/CEO Jim Nussle stated his objections to section 403 of the bill, which would amend the Fair Credit Reporting Act to prohibit credit scoring models from treating certain medical debt information on consumers’ credit report as a negative factor.

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FDCPA Defense

MAY 27, 2014

For example, in the February 2009 report issued by the FTC entitled “Collecting Consumer Debts: The Challenges Of Change ” the FTC reminded us: “ Consumer credit is a critical component of today’s economy. Debt collection benefits individual creditors, of course, who are repaid money they are owed.

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Collection Industry News

FEBRUARY 1, 2023

This decline, as well as insights from CFPB market monitoring, suggests that debt collectors are moving away from reporting (or furnishing) medical bills to credit reporting companies, resulting in fewer medical tradelines on consumer credit reports.

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FDCPA Defense

NOVEMBER 10, 2015

A furnisher may deem a dispute to be “frivolous or irrelevant,” however, if the consumer fails to provide the furnisher with sufficient information to investigate. See Fair Debt Collection Practices Act, CFPB Annual Report 2015. See 15 U.S.C. 1681s–2 (a)(8)(F)(i)(I); 16 C.F.R.

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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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Better Credit Blog

APRIL 5, 2022

Ask the Collection Agency to Validate the Debt. If you can’t find inaccuracies on your credit reports, write to the collection agency and ask it to validate your debt. The main issue here is that you have only 30 days to make the request after the collection agency first contacts you. TrueAccord.

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Burt and Associates

OCTOBER 31, 2024

About Transcript About CFPB 2024 Annual Report on Activities to Administer the Fair Debt Collection Practices Act I. Introduction and Spotlight on Medical and Rental Debt 1.1 Medical Debt 1.1.1 Rental Debt 1.2.1 Conclusion: Summarizes the key findings and trends in medical and rental debt collection.

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