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More proof that there is plenty of interest from investors in the accounts receivable management industry came yesterday, in the form of a $12 million Series A funding announcement from Prodigal, a technology company that provides an automation platform for debt buyers, debtcollectors, and creditorsrights law firms.
In 2014 the Eleventh Circuit held that a debtcollector violates the Fair Debt Collections Practices Act when it filed a proof of claim in a chapter 13 case on a debt that it knows to be time-barred. A debtcollector who violates these proscriptions faces civil liability to the debtor. Crawford v.
Although this scenario may sound far-fetched, it is an everyday occurrence for creditors’ rights attorneys, who have been targeted by “meaningful attorney involvement” lawsuits for years. The CFPB is expected to announce proposed debt collection rules in the near future that may incorporate the theory. 1692, et seq.
One of the benefits of declaring bankruptcy is that debtcollectors cannot try to collect on debts that were discharged in bankruptcy. Secured Debt Secured debt would include things like: House mortgages Car/vehicle loans Some taxes Loans for furniture/appliances/large electronics Which type of debt is most often secured?
Choe The Western District Court in New York has held that a debtcollector did not violate § 1692e(10) of the FDCPA. Choe is an attorney practicing in Smith Debnam's Creditors’ Rights and Collections Practice Group. By: Hannah D. Trauner, Cohen & Thomas, L.L.P. , 3d 360, 363 (2d Cir.
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