Consumer Financial Services Law

JANUARY 22, 2021

Communications in Connection with Debt Collection) to allow debt collectors to communicate with the deceased consumer’s spouse, parent (if the consumer is a minor), legal guardian, executor or administrator, and confirmed successor in interest (as defined Regulation X). Section 1006.2(c) This definition dovetails with 1006.6

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Consumer Financial Services Law

FEBRUARY 17, 2021

Debt collectors therefore should be establishing policies and procedures which address when and to whom a debt validation notice should be sent when the consumer is deceased. Moreover, debt collectors should be aware that specificity is required when sending validation notices to the representative of a deceased consumer.

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Better Credit Blog

APRIL 1, 2022

Transworld Systems, Inc (TSI) is a well-known debt collection agency in the United States that works with individuals, large companies, and organizations to assist them in debt recovery and past due accounts. They recently acquired Alltran Financial Services in 2020. If you can, try to settle with the original creditor.

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Better Credit Blog

FEBRUARY 19, 2021

FMA Alliance is a third-party debt collector that works with companies to recover delinquent accounts from customers. Before a debt collector can contact you for payment, they must first report the debt to the major credit bureaus. The majority of their clientele are within: financial services.

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Consumer Financial Services Law

AUGUST 14, 2017

Section 1692e prohibits false, deceptive or misleading representations in connection with the collection of a debt. Where interest is not accruing on a debt, the debt collector does not need to state that no interest is accruing.

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Better Credit Blog

AUGUST 22, 2020

If you have a debt that you haven’t paid yet, you may have heard from a debt collector called CCS Offices. CCS Offices is a company that collects debts on behalf of original creditor. They do this by either purchasing the debt or collecting the payments and taking a portion for themselves.

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BN Lawyers

JANUARY 14, 2019

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. But what if the debt collector initiates a process that is not readily stopped if the consumer makes a timely request for validation? In Scott v. Trott Law, P.C. ,

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Consumer Financial Services Law

JANUARY 3, 2018

By Zachary Dunn The FDCPA prohibits a debt collector from using “any false, deceptive, or misleading representation” in connection with the collection of a debt. Zachary Dunn is an attorney practicing in Smith Debnam's Consumer Financial Services Litigation and Compliance Group. See 15 U.S.C. In Islam v.

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Consumer Financial Services Law

MAY 25, 2021

This article will examine the decision, its immediate impacts, and considerations for the industry as it moves toward implementation of the debt collection rule. A Quick Summary In Hunstein , the debt collector engaged a third-party vendor to prepare and send its demand letter. LEXIS 11648 at *4.

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Consumer Financial Services Law

APRIL 23, 2021

In rejecting the plaintiff’s argument that the “amount now due” was ambiguous, the Court reasoned that “[t]he phrase ‘Now Due,’ even to an unsophisticated consumer, simply means that the debt collector is willing to accept less than the total balance of the debt to bring the account to a current status.”

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Better Credit Blog

APRIL 1, 2022

Within your lifetime, you may have a period of financial distress. Especially in the current pandemic, COVID 19, medical bills, credit card bills, and other financial service bills may start to pile up. The truth is, debt collectors actually have a set of rules they have to follow when attempting to collect on a debt.

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FDCPA Defense

MARCH 2, 2014

One method for identifying areas of potential concern, however, is to analyze the recent enforcement actions by the CFPB and other regulators filed against debt buyers and original creditors. The most comprehensive enforcement action against a debt buyer in recent years was brought by the FTC, not the CFPB. Cashland”).

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Better Credit Blog

APRIL 5, 2022

Don’t go into too many details, but let the debt collector know if you’re trying to buy a house but can’t because of the negative information on your credit report. Then kindly ask the debt collector to remove collections from your credit report out of goodwill. Original Creditor Vs. Collection Agency.

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PDC Flow

JANUARY 12, 2021

We will also see consumers engaging debt collectors electronically in ways that serve their needs and accommodate their challenges. The ubiquitous use of electronic communication in the collection industry will prove to be a win for creditors, a win for debt collectors, and a win for consumers.”. Joann Needleman.

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Troutman Sanders

MAY 17, 2021

State Activities: On May 13, the California Senate passed a bill that will require the original creditor or owner of a debt to notify a consumer within five days of the sale or assignment of the debt to someone else, while also giving consumers the right to request certain information about a debt from debt collectors, such as the debt’s delinquency (..)

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