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Dealing with Debt Collectors

Debt Free Colorado

In this article we will answer the question: What can debt collectors do to you? Does Colorado Law Protect Me From Debt Collectors? When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states.

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Supreme Court says Congress must expand debt collection law

Roths Child Law

Defendant debt collector Santander Consumer USA Holdings ultimately prevailed because it was not collecting money on behalf of a third party. Debt obtained from bankrupted finance company. Santander bought the debt from a financier going through bankruptcy, which made Santander the owner of the debt.

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Eleventh Circuit Holds Transmitting Consumer Information to Third Parties Exposes Debt Collectors to Liability under the FDCPA

Burr Forman

In a decision that could throw the debt-collection industry into turmoil, on April 21, 2021, the Eleventh Circuit Court of Appeals released its opinion in the case Hunstein v. The underlying facts in Hunstein will be familiar to anyone acquainted with the everyday workings of many debt collectors.

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Can a Collection Agency Report to the Credit Bureau Without Notifying You?

Credit Corp

The Fair Debt Collection Practices Act is a federal law that protects consumers against certain unfair collection practices. It applies to only external or third-party debt collectors and only for personal debts. It does not come into play for creditors collecting their own debts. or after 9 p.m.

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The Wait is Over: New York Department of Financial Services Releases Debt Collection Rule Amendments

Troutman Sanders

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.

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Can a Debt Collection Law Firm Act as a Debt Collection Agency?

FFGN COLLECT NY

When a debtor owes a creditor money and the creditor is seeking assistance collecting the amount owed, the creditor can either use a collection law firm or a collection agency. Both can send a demand letter and call the debtor to request the outstanding amount owed. Law firms and collection agencies serve the same purpose initially.

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5 Things a Commercial Debt Collection Agency CANNOT Do to Help You

Direct Recovery

The right debt collection agency can act as your own personal accounts receivable department tasked with tracing down delinquent accounts, contacting debtors, negotiating payments, filing for judgments, and collecting payments. They will also be unable to pursue any debts that aren’t legitimate with solid documentation.