Account Recovery

FEBRUARY 24, 2025

California Appeals Court Reverses Judgment in Debt Buyer Case A California Appeals Court has reversed a lower courts ruling in favor of a debt buyer, determining that consumers do not need to show actual damages to pursue statutory damages under the Fair Debt Buying Practices Act (FDBPA). Stay tuned! More details here.

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Better Credit Blog

MAY 12, 2022

In my recent experience, it’s not hard to remove judgments from your credit report as long as you follow the proper steps. Many readers assume it’s impossible to have the credit bureaus remove civil judgments because they involve the court system. If so, removing the judgment shouldn’t be too big of a hassle.

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Troutman Sanders

SEPTEMBER 13, 2023

Last year, a professional plaintiff obtained a judgment of over $828k in a case alleging 104 calls in violation of the Telephone Consumer Protection Act (TCPA). As a sanction, the district court entered a default judgment against them. This summer, the Fourth Circuit upheld that judgment.

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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

DECEMBER 6, 2023

District Court in the Southern District of California recently held that a Federal Rule of Civil Procedure 68 offer of judgment must clearly state that attorneys’ fees and costs are limited or waived, as Arvest Central Mortgage Company (Arvest) learned to its detriment. in damages from the offer of judgment.

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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 Focus on Deterring Meritless Claims by the Addition of an Offer of Judgment Provision, Including the Right to Recover Attorneys’ Fees.

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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

FEBRUARY 25, 2022

In December 2021, a federal judge granted a motion for summary judgment in Mitchell v. The court held that because Specialized Loan used the correct designation, its actions were not unreasonable, and it was entitled to summary judgment. This “D” code indicates “no payment history available this month.”.

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Debt Free Colorado

FEBRUARY 21, 2022

What is Colorado Uniform Consumer Credit Code (Colorado UCCC). The Uniform Consumer Credit Code (UCCC) is a Colorado state legislation governing how consumer credit is handled. Consumer credit transactions are governed by the UCCC, which is a code of conduct.

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FFGN COLLECT NY

NOVEMBER 12, 2021

For example, the initial fee for an index number in the supreme court is $210 whereas it is $45 for commercial claims and $140 for consumer credit transactions in civil court. Take for example New York Civil (Manhattan), where creditors who waited nine months for judgments pre-pandemic now find themselves with an 18-24 month wait.

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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. The signing of a law preventing colleges from withholding student transcripts due to unpaid debts.

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Account Recovery

SEPTEMBER 30, 2024

While in our industry that is just about always the intention unless there is a compelling reason for the seller to hold onto certain rights, evidently state court judges have found holes in purchase-and-sale agreements with respect to certain rights and obligations in the underlying credit agreement. So what’s the takeaway?

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Troutman Sanders

DECEMBER 22, 2020

preempts burdensome credit reporting restrictions imposed by the Maine Fair Credit Reporting Act. “By The case is captioned Consumer Data Industry Association v. The parties filed cross-motions for judgment on a stipulated record in April 2020. . § 1681, et seq. This October, the U.S.

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Public Citizen

OCTOBER 24, 2020

  In addition, the Symposium welcomes discussion over the recent decision by the Uniform Law Commission to address debt collection efforts by third-party debt collectors or buyers based on default judgments.  .  The Symposium will likely take place via Zoom in mid-March or April, depending on speaker availability. 

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The Kaplan Group

OCTOBER 19, 2020

Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. In our opinion, credit counselors generally do a much better job for both clients and their creditors. A judgment is the official result of a lawsuit in court. Statute of Limitations.

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Troutman Sanders

JULY 15, 2022

According to CLSA’s deposition, the agency prepares “Judgment Reports” by “subcontract[ing] with people who go out to the various repositories of records and actually do the physical search.” CLSA compiled the information into a “Judgment Report” then “included this Judgment Report as one part of a larger report that it sent back to the Bank.”

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Consumer Financial Services Law

MARCH 4, 2018

The CFPB recently issued its second Quarterly Consumer Credit Trends Report which examines the impact of changes to credit reporting regarding the reporting of civil public records. In 2015, the three major credit reporting agencies (“CRAs”) entered into settlements with over thirty states.

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Troutman Sanders

JANUARY 5, 2022

State Activities: On December 31, 2021, New York Governor Kathleen Hochul signed a bill into law that will lower the interest rate charged on unpaid money judgments to 2%. The law, effective April 30, applies to new judgment and retroactively to any judgment not fully satisfied when the law goes into effect.

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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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Collection Industry News

DECEMBER 28, 2020

. § 1681, et seq. , preempts burdensome credit reporting restrictions imposed by the Maine Fair Credit Reporting Act. “By The case is captioned Consumer Data Industry Association v. The parties filed cross-motions for judgment on a stipulated record in April 2020. This October, the U.S.

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Burr Forman

JULY 9, 2021

Section 1681(g) of the FCRA requires a lender to provide a CSD to a consumer whenever their consumer credit score is utilized in connection with a loan application “initiated or sought by a consumer.”

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Credit Corp

JUNE 8, 2023

Using credit irresponsibly by making late payments and maxing out credit limits can have an affect your credit negatively and lower your credit score. How Does Credit Reporting Work? Public records such as bankruptcies, tax liens and judgments can also appear on your reports.

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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 law firm filed suit against the plaintiff in state court seeking judgment in the amount of the debt as well as “statutory attorney fees.” Kohn Law Firm, S.C. The bank sold the debt to the defendant creditor.

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Collection Industry News

AUGUST 9, 2021

District Court for the Eastern District of Arkansas entered a stipulated final judgment and order against a Utah-based home-security and alarm company (defendant) for allegedly failing to provide proper notices under the FCRA. Source: site. On August 4, in an action brought by the CFPB and the Arkansas attorney general, the U.S.

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Troutman Sanders

MAY 9, 2023

A district court in the Western District of Washington held that the Fair Credit Reporting Act (FCRA) does not require a consumer reporting agency (CRA), as part of its investigative duties, to issue an opinion on the legal validity of a consumer’s debt. CitiMortgage, Inc. In Riser v. Central Portfolio Control, Inc. ,

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True Accord

JULY 9, 2024

In another attempt to help consumers by bringing homeownership back into reach amidst high interest rates and home prices, the CFPB also started an inquiry into mortgage junk fees and excessive closing costs that can drain down payments and push up monthly mortgage costs.

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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.

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Consumer Financial Services Law

AUGUST 14, 2017

Section 1692g(a) requires that within five days of initial communication, the debt collector provide the consumer with a written notice which contains five pieces of information: (a) the amount of the debt; (b) the name of the creditor to whom the debt is owed; (c) a statement that unless the consumer, within thirty days after receipt of the notice, (..)

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Troutman Sanders

AUGUST 1, 2023

On July 26, the CFPB published a blog focused on consumer credit scores. On July 25, a large credit reporting agency revealed to investors in regulatory filings that it’s facing a probe by the CFPB. The lawsuit alleges that the company and its owners scammed approximately 8,000 consumers throughout Texas and the U.S.

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Better Credit Blog

FEBRUARY 15, 2021

Credit repair companies are expertly trained and well-equipped to handle a variety of consumer credit issues, including confronting debt collectors. Start out by setting up a consultation with one of our top picks for the best credit repair companies. Charge-offs. Foreclosure. Hard inquiries. Identity fraud.

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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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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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National Service Bureau

OCTOBER 21, 2015

As a medical debt collection agency, the CFPB asserted oversight because SOS had violated both the FDCPA and FCRA by not sending debt validation notices and mishandling consumer credit report complaints.

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Better Credit Blog

DECEMBER 2, 2020

Depending on the extent of your credit problems, your best bet might be to work with a credit repair specialist. Credit repair companies are pros at disputing inaccuracies and getting them deleted from consumers’ credit reports. Even more, they can assist you with challenging credit problems like: Bankruptcy.

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Better Credit Blog

DECEMBER 2, 2020

Depending on the extent of your credit problems, your best bet might be to work with a credit repair specialist. Credit repair companies are pros at disputing inaccuracies and getting them deleted from consumers’ credit reports. Even more, they can assist you with challenging credit problems like: Bankruptcy.

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Jimerson Firm

DECEMBER 11, 2023

The putative class action in TransUnion arose from claimed violations of the Fair Credit Reporting Act involving the maintenance of allegedly inaccurate consumer credit files. However, within one year, the Eleventh Circuit granted hearing en banc and vacated the judgment. Ramirez , 141 S.Ct. ” Id. at 1358–59.

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