Credit Corp

NOVEMBER 9, 2020

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. In 2019, the FTC received 75,200 complaints about debt collectors —down from 84,500 in 2018. A statement describing your right to dispute the debt.

Collections Agency 105

Collections Agency Collection Agencies Credit Bureau Collections 105

Better Credit Blog

APRIL 3, 2022

Portfolio Recovery will buy old debt for pennies on the dollar. By purchasing old debt, Portfolio Recovery becomes the debt collector, gambling that it can collect on the debt and make a profit. When you hear from Portfolio Recovery (or any other debt collector), let the agency know that you know your rights.

Debt collector 87

Debt collector Collections Agency Collection Agencies Garnishment 87

Collection Industry News

JUNE 14, 2021

Ciffa’s offices in Niagara Falls and Kenmore, debt collectors intimidated their victims with illegal threats of arrests and lawsuits. According to federal prosecutors, an elderly cancer patient in Texas was so rattled by the threats that she borrowed $500 from her sister to help pay off a debt of $1,285. Source: site.

Debt collector 40

Debt collector Judgment Collections Collection Companies 40

Troutman Sanders

MARCH 12, 2025

On February 27, the Federal Trade Commission (FTC) successfully obtained a temporary restraining order against Blackrock Services, Inc. The court order aims to halt the defendants’ alleged deceptive and abusive debt collection practices. and its associated entities and individuals. along with Liberty Credit Management, Inc.,

Collections 52

Collections Law Firms Fair Debt Collection Garnishment 52

Better Credit Blog

APRIL 1, 2022

According to the CFPB (Consumer Financial Protection Bureau) and the BBB (Better Business Bureau), TSI or www.tsico.com has had over 5,000 (CFPB) and 300 (BBB) complaints filed with the Federal Trade Commission stating inaccurate reporting and even threatening legal actions they are not legally allowed to follow through on. Debt Validation.

Collections Agency 77

Collections Agency Collection Agencies Garnishment Fair Debt Collection 77

Better Credit Blog

AUGUST 31, 2020

Having debt in collections can be downright overwhelming, especially when debt collectors bombard you with dozens of phone calls. Debt collectors are notorious for harassing consumers when they seek repayment, calling excessively and threatening to take actions that may not be legal. Table of Contents.

Fair Debt Collection 53

Fair Debt Collection Third-party Debt Collectors Collections Debt collector 53

Credit Corp

AUGUST 24, 2020

In addition to requesting a written validation notice from the collector, verify with your state attorney general’s office or the Better Business Bureau that the collection agency is legitimate. If you suspect that you are being contacted by a scammer, you can submit a complaint with the Federal Trade Commission.

Collections 69

Collections Debt collector Collections Agency Collection Agencies 69

Collection Industry News

NOVEMBER 2, 2020

In early 2019, a garnishment action was filed by Pallida in Denton County, Texas to collect on the default judgment. Thus, the court held the defendants failed to demonstrate the statute of limitations barred plaintiff’s FDCPA claims, allowing plaintiff to bring claims as to both the 2010 collections action and the 2019 garnishment action.

Garnishment 40

Garnishment Judgment Debt collector Fair Debt Collection 40

Troutman Sanders

OCTOBER 28, 2020

In early 2019, a garnishment action was filed by Pallida in Denton County, Texas to collect on the default judgment. Thus, the court held the defendants failed to demonstrate the statute of limitations barred plaintiff’s FDCPA claims, allowing plaintiff to bring claims as to both the 2010 collections action and the 2019 garnishment action.

Garnishment 40

Garnishment Judgment Debt collector Fair Debt Collection 40

Troutman Sanders

MARCH 22, 2021

The Bureau is concerned that some of those desperately needed funds will not reach consumers, and will instead be intercepted by financial institutions or debt collectors to cover overdraft fees, past-due debts, or other liabilities. According to the FOMC, inflation continues to run below 2%. For more information, click here.

Financial services 52

Financial services Garnishment Student loans Student Loans 52

National Service Bureau

AUGUST 19, 2015

Some of the laws and organizations that govern and oversee these interactions are the Consumer Financial Protection Bureau (CFPB), the Fair Debt Collection Practices Act (FDCPA), and the Fair Trade Commission (FTC). How can something like this happen?

Collections 40

Collections Accounts Receivables Management Debtor Collections Agency 40

Better Credit Blog

APRIL 1, 2022

The truth is, debt collectors actually have a set of rules they have to follow when attempting to collect on a debt. The Federal Trade Commission or FTC enforces these rules, collectively known as the Fair Debt Collection Practices Act and prevents debt collectors from harassing you.

Collections 52

Collections Fair Debt Collection Debt collector Creditors 52

Troutman Sanders

NOVEMBER 13, 2023

On November 7, the Commodity Futures Trading Commission (CFTC) announced that, in 2023 alone, the cumulative penalty amount stemming from consent orders it entered with digital asset-based companies totaled $4.3 For more information, click here. Annual report requirements will be adopted through a separate rulemaking.

Financial services 52

Financial services Manufacturing Debt Management Debtor 52

Troutman Sanders

JULY 27, 2020

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from being garnished by judgement creditors and debt collectors, similar to how Social Security payments are exempt from being garnished. On July 23, 2020, the Senate unanimously passed S.

Financial services 52

Financial services Student Loans Student loans Garnishment 52

Troutman Sanders

AUGUST 9, 2021

s emergency debt collection bill. Among other changes, the amended bill now no longer requires debt collectors to provide debt documentation within five days of the initial communication (such materials now only need be provided upon request from consumer) and removes the allowance of damages per violation.

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

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.

Financial services 52

Financial services Fair Debt Collection Foreclosure Lender 52

Troutman Sanders

JULY 7, 2021

Some consumers reported facing homelessness because of the negative impact of an eviction on their credit history reported by debt collectors. The plaintiffs, who include landlords and real estate trade associations from Alabama and Georgia, argue that the CDC exceeded its authority by imposing the ban. On June 29, the U.S.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

Troutman Sanders

JULY 26, 2021

On July 20, the House of Representatives passed the Consumer Protection and Recovery Act, which aims to revive the Federal Trade Commission’s (FTC) authority to return money to consumers harmed by companies found to engage in deceptive practices. The guidance resulted from concerns that debt collectors would seize the funds.

Financial services 52

Financial services Student loans Student Loans Garnishment 52

Troutman Sanders

NOVEMBER 1, 2021

On October 29, the Federal Trade Commission (FTC) issued a new enforcement policy statement, warning companies against deploying illegal dark patterns that trick or trap consumers into subscription services. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Garnishment Financial Institution Debt collector 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. On August 31, 2020, the state legislature enacted the COVID-19 Tenant Relief Act of 2020.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

Troutman Sanders

APRIL 19, 2021

On April 15, the Federal Trade Commission (FTC) announced the first enforcement action taken under the new COVID-19 Consumer Protection Act (COVID-19 CPA), which imposes monetary penalties on violators. Companies also would be required to submit business-specific requirements, which pertain to information related to licensing a business.

Financial services 52

Financial services Student Loans Student loans Financial Institution 52

Troutman Sanders

NOVEMBER 8, 2022

On October 31, the Federal Trade Commission announced that it is taking action against an education technology provider for its lax data security practices that exposed sensitive information about millions of its customers and employees, including Social Security numbers, email addresses, and passwords. For more information, click here.

Financial services 52

Financial services Student Loans Student loans Garnishment 52

Troutman Sanders

MARCH 4, 2024

An investigation by the Office of the AG (OAG) found that the debt collection law firm and its subsidiary often sued tenants on behalf of landlords in New York City Civil Court on issues that were already resolved in Housing Court. s Municipal Regulations. Businesses should continue posting these notices as required by the D.C.

Financial services 52

Financial services Law Firms Acquisition Debt collector 52

Troutman Sanders

JANUARY 25, 2021

The president is expected to nominate Rohit Chopra, currently a commissioner of the Federal Trade Commission, to serve as the next CFPB director. On January 21, Colorado Governor Jared Polis signed SB21-002 into law, which extends the moratorium on certain collection actions, such as garnishment, attachment, or levy, until June 1, 2021.

Financial services 52

Financial services Debt collector Foreclosure Banks 52

Troutman Sanders

AUGUST 3, 2020

The bill defines “extraordinary” collection actions as selling debt to a third party, reporting the debt to a credit bureau, denying medical care, placing a lien on a property, foreclosing on a property, seizing property or funds from a bank account, commencing a civil action, and garnishing an individual’s wages. As part of S.

Financial services 52

Financial services Garnishment Debt collector Collections 52

Troutman Sanders

NOVEMBER 7, 2023

The proposed regulatory framework includes requirements for the admission of digital assets to a trading venue and disclosure documents. On October 31, Ohio AG Dave Yost (R) announced that the state is suing a Florida debt collector who employed “harassing and abusive tactics” to try to collect debts from Ohio consumers.

Financial services 52

Financial services Debt collector Loans Foreclosure 52

Troutman Sanders

AUGUST 31, 2020

Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions. Privacy and Cybersecurity Activities: On August 28, 2020, the Federal Trade Commission (FTC) provided parents with seven considerations to secure their home systems as kids begin school from home. For more information, click here.

Financial services 52

Financial services Foreclosure Student loans Student Loans 52