Account Recovery
FEBRUARY 24, 2025
WHAT THIS MEANS, FROM NICK PROLA OF BASSFORD REMELE: It is encouraging to see the Sixth Circuit recognize that creditors and debt collectors have the right to access the courts. Failing to pay a debt and being subject to foreclosure, eviction, and litigation is understandably difficult for consumers.
Consumer Finance Watch
MARCH 21, 2019
The United States Supreme Court holds businesses conducting nonjudicial foreclosures are not “debt collectors” under the FDCPA, but lenders and foreclosure firms should take note that the Court specifically chose to leave open the question of whether businesses that conduct judicial foreclosures are “debt collectors” under the statute. .
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Troutman Sanders
JULY 28, 2020
Does a judicial foreclosure action constitute “debt collection activity” under the Fair Debt Collection Practices Act (“FDCPA”)? The borrower then filed an action in federal court, claiming that an assortment of alleged misrepresentations in the foreclosure case constituted violations of the FDCPA.
BN Lawyers
MARCH 21, 2019
McCarthy & Holthus, LLP, holding that that business engaged solely in non-judicial foreclosure activities are generally exempt from the Fair Debt Collection Practices Act, 15 U.S.C. It is unclear what impact the decision on the debt collection and foreclosure industry beyond the limited facts of the case, but as in Henson v.
Consumer Financial Services Law
FEBRUARY 1, 2018
The Tenth Circuit has weighed in on whether a non-judicial foreclosure is debt collection activity. In response, the consumer requested validation of the debt. Instead of responding, the law firm initiated a non-judicial foreclosure. In doing so, the Tenth Circuit has joined a split in the circuits on the issue.
Troutman Sanders
FEBRUARY 26, 2021
In denying summary judgment, this decision serves as a reminder to servicers to ensure a thorough review of correspondence from a borrower to evaluate whether they may file for nonjudicial foreclosure without implicating the FDCPA or state collection laws. In that case, the plaintiffs fell behind on their mortgage payments.
Consumer Financial Services Law
MAY 10, 2017
A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.
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