This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Debt collector Debtor Financial services 
Account Recovery
MARCH 10, 2025
ROBBIN LAW: After the New York Attorney General Letitia James (NYAG) recent crack downs on debt collectors violations of New Yorks Exempt Income Protection Act (EIPA), the NYAG has provided debtors with a guide on their rights under the EIPA. More details here. WHAT THIS MEANS, FROM JACQUELYN DICICCO OF J.
130 
PDC Flow
FEBRUARY 27, 2025
Compliance can be even harder when scammers actively try to disrupt your debt collection practices through call baiting. Why is call baiting done and what can debt collectors do to prevent the practice? The term call baiting may seem self-explanatorybaiting a debt recovery professional during a phone call.
52
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Agent Tooling: Connecting AI to Your Tools, Systems & Data
Protect What Matters: Rethinking Finance Ops In A Digital World
Troutman Sanders
JANUARY 24, 2023
On December 28, 2022, the New York Department of Financial Services released its debt collection rule amendments to 23 NYCRR 1, the regulation titled “Debt Collection by Third-Party Debt Collectors and Debt Buyers.” The initial proposed amendments were opened to public comment in late 2021.
Troutman Sanders
NOVEMBER 13, 2023
Annual report requirements will be adopted through a separate rulemaking.
Fico Collections
DECEMBER 20, 2021
It’s the time of year for predictions, and with the insights gained from 2021, I am ready to offer a few public policy forecasts for those in the financial services industry. Debt Collectors and Service Providers Can Once Again Work Together Without the Fear of Violating the FDCPA.
Troutman Sanders
OCTOBER 19, 2021
On October 26, the Nevada’s Financial Institutions Division is holding a workshop on regulations pertaining to medical debt collections and S.B. For more information, click here. On October 8, New York Governor Kathy Hochul signed Senate Bill S737A into law. For more information, click here.
Consumer Financial Services Law
FEBRUARY 1, 2017
A demand letter sent by a debt collector was not doomed by an incorrect statement of the creditor’s name. the debt collector’s initial letter stated as follows: Re: ENCOMPASS MANAGEMENT CONSULTANTS Account #: 3118797 Balance: $875.33 The debtor contended that the letter violated 15 U.S.C. In Santibanez v.
Troutman Sanders
MAY 5, 2021
Section 1692c(b) of the FDCPA prohibits a debt collector from communicating with most third parties “in connection with the collection of any debt” unless it has the consumer’s consent. The hospital hired debt collector Preferred Collection & Management Services, Inc.
Jimerson Firm
DECEMBER 14, 2021
To better understand the Fair Debt Collection Practices Act, I’ve broken it down into three discernable parts: 1) Elements of a cause of action under the FDCPA. The FDCPA prohibits debt collectors from making false or misleading representations and from engaging in various abusive and unfair practices. 3d 1175, 1205 (M.D.
105 
Troutman Sanders
MARCH 29, 2021
On March 23, Representatives Steve Cohen, Suzanne Bonamici, and Alexandria Ocasio-Cortez introduced the Fair Debt Collection Improvement Act that would prohibit debt collectors from collecting or attempting to collect debt from consumers after a statute of limitation expires. For more information, click here.
Consumer Financial Services Law
MARCH 8, 2018
Dunn A District Court in the Seventh Circuit has held that a debt collector may not avail itself of the § 1692k(c) bona fide error defense if it “intentionally chose to present conflicting information,” even if that conflicting information was provided to it by the creditor. In Garcia v. Miramed Revenue Group, LLC , 2018 U.S.
FFGN COLLECT NY
DECEMBER 10, 2023
Did you know that the debt collection industry in the US is valued at $20.3 And yet, this is among the financial services sectors that are not as digitized as others. With a growth rate of 4.4%, finding a solution to expedite the debt collection process is crucial. Personalize your debt collection approach.
52 
Collection Industry News
JANUARY 19, 2021
Those were just two of more than 1,800 loans that went to debt collectors and high-interest lenders through the Paycheck Protection Program, according to an analysis by The Washington Post. who represents debtors in collection cases. Debt collectors prosper in pandemic. Andrew Harnik/AP).
Jimerson Firm
FEBRUARY 22, 2024
Unlike the FDCPA, which only applies to debt collectors, the FCCPA applies to all persons or businesses collecting consumer debts. As such, whether the consumer lawyer intends to pursue the class or not, this is seen as a tactic to increase settlement value for the debtor, even if the settlement is only on an individual basis.
59 
Troutman Sanders
APRIL 6, 2023
In a significant boost to the financial services industry, Utah has taken major steps to streamline its debt collection bureaucracy — including the removal of criminal penalties for failure to comply with technical requirements. As a consequence of the repeal, such lawsuits may no longer be viable in Utah.
FFGN COLLECT NY
JANUARY 10, 2024
Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. More specifically, the Department of Financial Services will crack down on the “buy now, pay later” industry.
52 
Consumer Financial Services Law
APRIL 22, 2021
Enloe The FDCPA provides a bona fide error defense for debt collectors who can show by a preponderance of the evidence that their violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid any such error. Limited Content Messages.
Troutman Sanders
NOVEMBER 8, 2023
The plaintiff claimed the letter violated FDCPA §§ 1692d, e, f, and g because she could not determine what date was “today” and “now,” which allegedly misled her about the status of the debt, confused her, made the letter seem illegitimate and suspicious, and caused her to spend time and money trying to figure out whether the debt was valid.
Consumer Financial Services Law
OCTOBER 16, 2017
By Zachary Dunn October 16, 2017 The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” 11 2017), the debtor, Berry, defaulted on student loans he had taken out with the US Department of Education. In Berry v.
Troutman Sanders
NOVEMBER 1, 2021
LTD Financial Services, L.P. , However, the court held that the letters accurately state that there are tax consequences when $600 or more of debt is forgiven. Because they reflected an outcome that could come to pass, they could not be viewed as “false and misleading” even to the least sophisticated debtor.
Consumer Financial Services Law
FEBRUARY 18, 2019
2013), which joined the Fourth and Fifth Circuits in holding that non-judicial foreclosures are “debt collection” under the FDCPA, the Sixth Circuit held on January 11 that a law firm has an affirmative duty to “stop the clock” on an initiated foreclosure once it receives a §1692g(b) dispute from the debtor. Chase Home Finance LLC.,
40 
Fico Collections
SEPTEMBER 19, 2022
These rules require the debt collectors and recoveries staff to—if non-complaint—make significant changes on how and when they can communicate with debtors. Here are some highlights: The 7-in-7 rule: Regulation F stipulates that there may be no more than seven calls made by a debt collector to a consumer in a span of seven days.
52 
Troutman Sanders
NOVEMBER 8, 2023
18) of the Florida Consumer Collection Practices Act (FCCPA), which makes it unlawful for a debt collector to communicate with a debtor if the debt collector knows that the debtor is represented by an attorney with respect to such debt and has knowledge of, or can readily ascertain, such attorney’s name and address.
52 
Consumer Financial Services Law
OCTOBER 3, 2019
The court held that when drafting the FDCPA, Congress was most concerned about the “repetitive contacts” that debt collectors may make with debtors, not that debt collectors will conceal their actions to unscrupulously obtain judgments against unknowing consumers.
Collection Industry News
MARCH 17, 2024
Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. More specifically, the Department of Financial Services will crack down on the “buy now, pay later” industry.
40 
Consumer Financial Services Law
JANUARY 6, 2017
the issue before the court was “whether a series of 18 telephone calls from a debt collector, of which 17 were unanswered and one where the recipient hung up, unaccompanied by harsh or threatening language or back-to-back calls could reasonably be found to violate the FDCPA.” In Chisholm v. Chisholm at *10-11. Chisholm at *14.
BN Lawyers
JANUARY 14, 2019
Section 1692g(a) of the FDCPA mandates the sending of a “validation” notice within five days of a debt collector’s initial communication with a consumer. A debt collector is free to collect during the thirty-day period as long as it does not overshadow or contradict the consumer’s thirty-day rights. In Scott v.
40 
Consumer Financial Services Law
FEBRUARY 27, 2018
In doing so, the Court joined the Fifth, Sixth and Seventh Circuits in holding that, even absent a threat of litigation, offers to settle time-barred debts could mislead the least sophisticated consumer. 12, 2018), the debt collector sent a letter that read “[The creditor] is willing to accept payment in the amount of $128.99
Consumer Financial Services Law
DECEMBER 12, 2016
Creditors and debt collectors who utilize pre-collect practices should pay close attention to a recent opinion from the Eastern District of Michigan. 1, 2016), the collection agency agreed to provide the creditor with demand letter services which involved a series of three letters per debt account. . In Parker Burns v.
40 
Consumer Financial Services Law
MARCH 23, 2021
Specifically, the debtor took issue with a disclosure in the validation notice, which she attached to her complaint, that provided “[i]n making this demand we are relying entirely on information provided by our client.” Landon Van Winkle is an attorney in Smith Debnam's Consumer Financial Services Litigation and Compliance Group.
40 
Burr Forman
NOVEMBER 1, 2021
In Hunstein , the Eleventh Circuit reversed the dismissal of a Fair Debt Collection Practices Act (“FDCPA”) lawsuit alleging that the Defendant, a debt collector, had violated third party disclosure prohibitions in the FDCPA by using a mail vendor to mail its dunning letters.
Collection Industry News
MAY 11, 2021
— which we previously covered on this blog — continues to raise questions for the wide range of industries that fall within the FDCPA’s definition of “debt collectors.” Further, this proposed restriction would not be “narrowly tailored” for the purpose of protecting debtors’ privacy.
40 
Troutman Sanders
OCTOBER 7, 2021
a debt buyer, retained defendant LTD Financial Services, L.P. Further, the court granted summary judgment to the defendants concerning the plaintiff’s claims that the defendants violated Section 1692f of the FDCPA (prohibiting debt collectors from using “unfair or unconscionable means to collect or attempt to collect any debt).
52 Consumer Financial Services Law
JANUARY 9, 2016
In 2002, the Ninth Circuit held that the Bankruptcy Code precluded the debtor’s FDCPA claims. In that case, as in Garfield , the debtor sought to enforce a violation of the discharge injunction through the FDCPA. FIA Card Services, N.A., Wells Fargo Bank, N.A., 3d 502, 511 (9 th Cir. Roundup Funding, LLC, 622 F.3d
40 
FDCPA Defense
MAY 6, 2014
The CFPB does not want debt collectors to tell consumers that paying their debts might help them to improve their credit score. Nor does the CFPB want collectors to encourage consumers to pay by informing them that their failure to do so might harm their credit. Equifax Check Services, Inc., 3d 410, 418 (7th Cir.
Troutman Sanders
FEBRUARY 24, 2022
Preferred Collection and Management Services Inc. For context, Section 1692c(b) of the FDCPA prohibits a debt collector from communicating with most third parties “in connection with the collection of any debt” unless it has the consumer’s consent. See 2021 WL 5353154 (11th Cir.
52 
Consumer Financial Services Law
DECEMBER 30, 2020
In Donovan , the debt collector sent a letter with two glassine windows. The consumer filed suit alleging that the envelope created a risk that third parties would recognize that she was receiving mail from a debt collector and asserting, among other things, a violation of 15 U.S.C. My phone number is _.”
Consumer Financial Services Law
AUGUST 31, 2016
Secondly, the court’s decision does not address the contents of the proof of claim or the conduct of the debt collector. Instead, the Fourth Circuit’s opinion appears to focus solely on whether or not the statute of limitations extinguished the debt. Keys to the Decision. The opinion is important for a number of reasons. .
Consumer Financial Services Law
SEPTEMBER 5, 2016
1692f(8), that an account number capable of revealing that a recipient was a debtor was a violation within the scope of the plain language of the Fair Debt Collection Practices Act. In Anenkova , the debt collector used a letter vendor to send a debt collection letter. Anenkova at *11. at 50097-02, 50108.
Consumer Financial Services Law
MARCH 30, 2020
Financial and Insurance Institutions : The Stay at Home Order also exempts a large array of financial and insurance institutions, including “bank, currency exchanges, consumer lenders” and “affiliates of financial institutions.” The Order additionally only allows certain specified essential businesses to remain physically open.
Collection Industry News
JULY 20, 2020
DEBT COLLECTORS, facing growing demands to freeze the collection of debt across the country amid the economic hardship caused by the coronavirus pandemic, are mobilizing their lobbyists to push back. In New York, residents are receiving a 30-day reprieve from the collection of state-owned medical and student debt.
40 
Better Credit Blog
JULY 7, 2020
They collect debt for businesses in multiple industries, including: Banking. Financial services. In addition to debt collection, the agency offers several additional services to its clients in the industries above. Validate your debt. Ask Bonneville to Validate Your Debt. Commercial. Government.
53 
Fico Collections
JUNE 16, 2022
Implemented specific segmentation and treatment strategies for debtors. These challenges will have a significant impact on debtor's ability to pay back what they owe. But the ability for debt collectors to learn from the lessons of 2008 has never been more viable. Unfortunately, far too many creditors didn’t.
52 
Consumer Financial Services Law
MAY 16, 2017
The district court concluded that that the Bankruptcy Code expressly provided for the filing of a claim irrespective of whether it is time barred so long as the creditor has a right to payment that has not been extinguished by state law while the FDCPA prohibited debt collectors from doing so.
40
Expert insights. Personalized for you.
We have resent the email to
Are you sure you want to cancel your subscriptions?
Let's personalize your content