Account Recovery

NOVEMBER 30, 2020

The Court of Appeals for the First Circuit has upheld a lower court’s ruling that the purchaser of a defaulted credit card debt is entitled to the same arbitration opportunity as the original creditor, even though the individual who owed the debt prevailed in a civil suit filed by the purchaser because it could not … The post Appeals Court (..)

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Debt Buying Credit Card Debt Original Creditor Creditors 217

Account Recovery

MAY 19, 2022

The Court of Appeals for the Fifth Circuit has reversed a lower court’s dismissal of a lawsuit filed by a debt buyer against a creditor that sold portfolios of delinquent and defaulted debt, ruling that the disputed portion of the contract between the two parties was enforceable.

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Account Recovery

MARCH 11, 2025

Why it matters: For professionals in debt collection agencies, debt buying companies, fintechs, banks, credit unions, and consumer finance firms, these findings underscore a growing vulnerability among older borrowers.

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Credit Card Debt Credit Unions Credit Unions Debt Buying 130

Account Recovery

APRIL 7, 2021

CHICAGO — April 6 — CMS Services, a leading provider of compliance management services to the Accounts Receivable Management industry, is excited to announce the launch of its Bank Terms & Conditions portal, providing copies of the terms and conditions issued by hundreds of credit grantors and financial institutions nationwide from (..)

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Creditors Accounts Receivables Management Financial Institution Banks 195

Account Recovery

APRIL 8, 2025

He led our expansion into two new markets, modernized the IT infrastructure and contact platforms, enhanced the data and analytics function and ultimately created one of Europe’s most cost-efficient debt buying platforms. Sjolund holds an MBA from the University of Chicago and is a graduate of Georgetown University.

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Account Recovery

FEBRUARY 24, 2025

The litigation relates to the Plaintiffs challenges of the CFPBs Final Rule, which involves the CFPBs prohibition on creditors and consumer reporting agencies concerning medical information. More details here. In an alarming trend, we are seeing more consumer actions being brought for abandoned litigation.

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Debt Buying Debt collector Credit Unions Credit Unions 130

Credit Corp

MARCH 1, 2023

However, you can’t actually do this due to how debt buying works. Debts of this nature are sold in large bundles to debt collectors and other agencies. Learn more about how debt buying works, why it’s not an answer to your debt concerns, and what you can do to handle debt instead below.

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Debt Buying Creditors Credit Card Debt Original Creditor 81