Collection Industry News

MAY 18, 2021

While NAFCU supports efforts to stop abusive debt collection practices, the association had raised concerns about language contained in the bill that would expand the definition of a “debt collector” and increase risks to lenders. The bill, the Comprehensive Debt Collection Improvement Act, passed the House by a vote of 215-207.

Foreclosure 40

Foreclosure Collections Debt collector Fair Debt Collection 40

Troutman Sanders

JULY 14, 2021

At the time Carrington became the mortgage servicer, Heinz’s loan was already in default and a foreclosure sale was scheduled for the first of the following month. Thereafter, the foreclosure sale of Heinz’s property was postponed to November 14, 2017. However, the foreclosure sale proceeded as scheduled on November 14, 2017.

Foreclosure 52

Foreclosure Debt collector Debtor Loans 52

Troutman Sanders

FEBRUARY 27, 2023

The communications were made in connection with various foreclosure proceedings against the plaintiffs where Fein Such represented the foreclosing entity. The plaintiffs alleged that Fein Such improperly contacted them regarding attorneys’ fees and costs purportedly incurred in connection with the foreclosure proceedings.

Foreclosure 52

Foreclosure Fair Debt Collection Debt collector Debtor 52

Collection Industry News

MAY 18, 2021

While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. Require debt collectors to obtain consent before using electronic communications and provide written validation notices.

Lender 40

Lender Foreclosure Collections Debt collector 40

Collection Industry News

OCTOBER 6, 2020

It was a great time to be a debt collector. In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. The only people who would do this are debt collectors who have no ongoing relationship with someone.”

Debt collector 40

Debt collector Garnishment Banks Foreclosure 40

Consumer Financial Services Law

FEBRUARY 18, 2019

McCarthy & Holthus LLP regarding whether non-judicial foreclosures qualify as debt collection under the FDCPA, the Sixth Circuit doubled down on its position that non-judicial foreclosures are debt collection. Building on its 2013 decision in Glazer v. Chase Home Finance LLC., 3d 453 (6th Cir. Chase Home Finance LLC.,

Foreclosure 40

Foreclosure Law Firms Debt collector Collections 40

Burr Forman

MAY 20, 2021

Overall, the CDCIA’s proposed changes to consumer finance laws tend to support pro-consumer policies and will require financial institutions, debt collectors, and loan servicers to re-evaluate their business practices if the bill is ultimately passed.

Collections 52

Collections Debt collector Student Loans Student loans 52

Taurus Collect

JUNE 12, 2023

If clients fail to stick to their payment plans as agreed, debt collection agencies are often needed in order to help recoup any losses incurred. Did you know that there are six different resources your debt collector will use – such as credit bureaus and databases – that allow them access to your financial history and current whereabouts?

Collection Agencies 52

Collection Agencies Collections Agency Collections Debt collector 52

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. ,

Foreclosure 40

Foreclosure Debt collector Collections Chapter 13 bankruptcy 40

Collection Industry News

SEPTEMBER 23, 2020

. • Debt collection cases have claimed an increasing share of the civil docket, making up about 30% of the civil court caseload in the one state where comprehensive data was available. • The dollar value of claims filed annually by debt buyers increased from $6 billion in 1993 to $98 billion in 2013. That is 20 years!

Collections 40

Collections Debt collector Chapter 13 bankruptcy Chapter 7 bankruptcy 40

Taurus Collect

JUNE 12, 2023

If clients fail to stick to their payment plans as agreed, debt collection agencies are often needed in order to help recoup any losses incurred. Did you know that there are six different resources your debt collector will use – such as credit bureaus and databases – that allow them access to your financial history and current whereabouts?

Collection Agencies 40

Collection Agencies Collections Agency Collections Debt collector 40

Better Credit Blog

MARCH 2, 2021

They collect on debts for both smaller doctors’ offices and clinics and hospitals. When your healthcare provider is unsuccessful at collecting your debt, they could contact a third-party agency such as H&R Accounts. Debt collectors buy your debts from providers and lenders, or they employ them to manage the collections process.

Collection Agencies 95

Collection Agencies Collections Agency Healthcare Debt collector 95

Credit Corp

JUNE 14, 2023

Since the debt is old and less likely to be paid, the creditor may be willing to accept less than what you owe to consider the matter closed. Foreclosures and Short Sales: Seven Years A foreclosure can remain on your credit reports for seven years from the date the foreclosure was filed.

Foreclosure 89

Foreclosure Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy 89

Troutman Sanders

AUGUST 1, 2023

An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. Examiners found that debt collectors continued collection attempts for work-related medical debt after receiving sufficient information to render the debt uncollectible under state worker’s compensation law.

Financial services 52

Financial services Financial Institution Debt collector Trade 52

Better Credit Blog

FEBRUARY 4, 2021

Are hired to help the original lender collect the debt. When a collections agency gets ahold of your debt, it can mean lots of phone calls and letters for you. Many consumers looking to cut ties with debt collectors simply pay off their debt, assuming it will get removed from their credit report. Foreclosures.

Financial services 69

Financial services Debt collector Collection Agencies Collections Agency 69

Better Credit Blog

FEBRUARY 5, 2021

When you get behind on payments, the person lending you money or providing services may turn your debt over to a debt collector. Others employ debt collectors like BRG. This type of third-party agency might: Buy your debts at pennies on the dollar, or. Here’s how: Ask for debt validation.

Collections 52

Collections Debt collector Collection Agencies Collections Agency 52

Better Credit Blog

MARCH 1, 2021

Third-party collections agencies may also purchase your debts from institutions like BOA for pennies on the dollar. Debt collectors can send you letters and call and leave messages when debt reaches collections. The FDCPA keeps debt collectors from being abusive or threatening, and it encourages accurate reporting.

Banks 52

Banks Collections Debt collector Collection Agencies 52

Better Credit Blog

MARCH 1, 2021

Third-party collections agencies may also purchase your debts from institutions like BOA for pennies on the dollar. Debt collectors can send you letters and call and leave messages when debt reaches collections. The FDCPA keeps debt collectors from being abusive or threatening, and it encourages accurate reporting.

Banks 52

Banks Collections Debt collector Collection Agencies 52

Better Credit Blog

FEBRUARY 2, 2021

If they are unsuccessful, your debt will go into collections, which can have a significant impact on your credit report. Some companies sell their debts to third-party debt collectors , while others, like BGE, have their own collections department. Foreclosure. The best part? Owe BGE $250? Repossession.

Collections 58

Collections Debt collector Third-party Debt Collectors Collection Agencies 58

Collection Industry News

DECEMBER 21, 2020

Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a defendant debt collector against claims that it violated the federal Fair Debt Collection Practices Act (FDCPA) by attempting to collect a debt that was discharged in bankruptcy and no longer owed. 3d 502 (9th Cir.

Bankruptcy 40

Bankruptcy Chapter 13 bankruptcy Law Firms Debtor 40

Better Credit Blog

NOVEMBER 23, 2020

Using the strategies outlined below, you can say goodbye to debt collectors and get your score back on track. or FMS Corp, is a third-party debt collection agency headquartered in Tulsa, Oklahoma. When you fail to repay a debt, whether it’s a medical bill, student loan, or credit card balance, it eventually enters collections.

Debt collector 52

Debt collector Collection Agencies Collections Agency Collections 52

Public Citizen

JULY 6, 2020

First, was allowing debt collectors to make robocalls, but prohibiting all other types of robocalls, allowed by the First Amendment? Second, if not, could the debt collection provision be severed? announced the judgment of the Court and delivered an opinion, in whichRoberts, C. filed an opinion concurring in the judgment.

Collections 70

Collections Student Loans Student loans Government 70

Better Credit Blog

FEBRUARY 24, 2021

They have been collecting on consumer debt since it was founded in 1983. Some third-party debt collectors buy debts for pennies on the dollar. But FNCB is hired by businesses to collect on debts. Fortunately, you have rights under the Fair Debt Collection Practices Act. Foreclosure. Retail cards.

Collections 56

Collections Collection Agencies Collections Agency Third-party Debt Collectors 56

Troutman Sanders

AUGUST 9, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. s emergency debt collection bill. You may access this interactive tool at [link]. On August 3, the Washington, D.C.

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

Better Credit Blog

APRIL 1, 2022

Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. Developing these good habits will help a lot, but let’s be clear: a major negative entry like bankruptcy, foreclosure, or repossession on your credit file will cause bad credit.

Bankruptcy 114

Bankruptcy Collection Agencies Collections Agency Lender 114

Better Credit Blog

FEBRUARY 15, 2021

Depending on other factors on your credit score and the extent of your debt, a collections account can drop your score significantly. Equally frustrating, debt collectors may communicate with you frequently, calling you regularly and sending letters in an attempt to collect payment. Foreclosure. Charge-offs.

Collections 74

Collections Collection Agencies Collections Agency Debt collector 74

Better Credit Blog

FEBRUARY 24, 2021

They have been collecting on consumer debt since it was founded in 1983. Some third-party debt collectors buy debts for pennies on the dollar. But FNCB is hired by businesses to collect on debts. Fortunately, you have rights under the Fair Debt Collection Practices Act. Foreclosure. Retail cards.

Collections 52

Collections Collection Agencies Collections Agency Third-party Debt Collectors 52

Troutman Sanders

SEPTEMBER 7, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. For more information, click here. For more information, click here.

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. Colorado – On June 29, 2020, the Colorado legislature enacted Senate Bill 20-211.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

Debt Free Colorado

MARCH 3, 2023

Those who are no longer able to pay their debts can, however, start over through a legal process. A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. What Debts are Discharged in Bankruptcy?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Better Credit Blog

FEBRUARY 5, 2021

You should also read up on the Fair Debt Collection Practices Act. This act was written to protect consumers from abusive debt collection practices and to ensure accurate reporting. Among other guidelines, it states that: Debt collectors are only allowed to call from 8 a.m. Foreclosures. Ask for proof. Bankruptcy.

Financial services 60

Financial services Collection Agencies Collections Agency Debt collector 60

Troutman Sanders

APRIL 19, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. For more information, click here. State Activities: On April 14, Illinois Governor J.B.

Financial services 52

Financial services Student Loans Student loans Financial Institution 52

Better Credit Blog

FEBRUARY 18, 2021

To get an understanding of how debt collectors are, and aren’t, allowed to treat you, you need to read up on the Fair Debt Collection Practices Act. The FDCPA is your shield against abusive debt collection practices and inaccurate reporting. Foreclosures. and 9 p.m. Charge-offs. Hard inquiries. Repossessions.

Collections 52

Collections Debt collector Collection Agencies Collections Agency 52

Troutman Sanders

JANUARY 11, 2021

With these holdings, the Seventh Circuit stated that simply alleging a procedural violation, confusion, or annoyance under the FDCPA does not constitute an injury-in-fact and that plaintiffs need to show real harm resulting from their responses to debt collectors’ actions to have Article III standing in federal court. In Bazile v.

Accrued Interest 52

Accrued Interest Judgment Fair Debt Collection Law Firms 52

Better Credit Blog

FEBRUARY 25, 2021

Either way, once a debt hits the collections stage, an entry is added to your report, staying for 7 years. A debt collector may also contact you frequently until you make a satisfactory payment. Collections agencies are held to a set of standards set forth by the Fair Debt Collection Practices Act. Foreclosure.

Collection Agencies 52

Collection Agencies Collections Agency Debt collector Collections 52

Better Credit Blog

FEBRUARY 12, 2021

Oftentimes, these complaints have to do with the agency’s aggressive collection attempts, failure to validate debt, and inaccurate reporting. To see what customers think of EZ Pass and other debt collectors, take a look at the Better Business Bureau and the Consumer Financial Protection Bureau. Foreclosure.

Collections 52

Collections Collection Agencies Collections Agency Debt collector 52

Better Credit Blog

FEBRUARY 15, 2021

While some companies have their own collections team, most outsource to agencies like FCO, who either buy your debt for pennies on the dollar or earn a fee for collecting debts for businesses. Debt collectors are notorious for their pushy collection attempts, faulty reporting, and poor responses to debt validation requests.

Collections 52

Collections Collection Agencies Collections Agency Debt collector 52