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.

Credit Card Debt 130

Credit Card Debt Credit Unions Credit Unions Debt Buying 130

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.

Debt Buying 130

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.

Debt Buying 81

Debt Buying Creditors Credit Card Debt Original Creditor 81

FFGN COLLECT NY

DECEMBER 12, 2023

Here is an overview of the NYC law on debt collection: The consumer or debtor can ask the debt collector or attorney to verify the debt or show proof of verification upon collection. Consumers must be aware that the debt they are being collected for is valid. You must inform consumers about the debt specifics.

Debtor 52

Debtor Debt collector Debt Buying Original Creditor 52

Collection Industry News

DECEMBER 25, 2023

CFPB, which is charged with enforcing consumer protection laws, ordered the company to immediately shut down, banning it from “participating in or assisting others in any debt collection activities, debt buying, debt selling, and consumer reporting activities.”

Collection Agencies 40

Collection Agencies Collections Agency Collections Fair Debt Collection 40

FDCPA Defense

FEBRUARY 5, 2013

The FTC recently released its 162-page report entitled " The Structure and Practices of the Debt Buying Industry " which describes a comprehensive study conducted by the FTC over a three-year period using data obtained from the nation’s largest debt buyers. Report at 23.

Collections 40

Collections Creditors Debt Buying Debt collector 40