Collections Law

OCTOBER 21, 2024

By knowing and understanding the laws, business owners can use these laws to help them collect unpaid debts. Every business owner should have a basic understanding of the specific statutes that govern debt collections. Massachusetts Fair Debt Collection Practices Act (MGL c.93, Uniform Commercial Code (UCC) – MGL c.106:

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Taurus Collect

NOVEMBER 15, 2023

Experiencing a constant barrage of calls from debt collectors can be overwhelming, to say the least. Many wonder, “How many times can a debt collector call me in one day?” In this post, we will explore the rights and regulations governing debt collection in the UK. or after 9 p.m.,

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Collection Industry News

AUGUST 3, 2021

July 22, 2021), the Eastern District of Michigan granted summary judgment in favor of a debt collector, holding that it did not violate the Fair Debt Collections Practices Act (FDCPA) by failing to report that the plaintiff disputed the debt at issue. Source: site. In Burns v. Keybridge Med. Revenue Care , No.

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Credit Corp

NOVEMBER 9, 2020

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. government or any state.

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Collection Industry News

MAY 18, 2021

Andrew Cuomo will bar debt collectors from accessing stimulus funds in bank accounts, a measure that had been sought by consumer groups. This legislation ensures families are able to use this safety-net funding as it was originally intended, to provide for families basic needs and away from the hands of debt collectors.”.

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Collection Industry News

JUNE 14, 2021

In 2018, Homeland Security Investigations agents got a search warrant and seized $242,088 from Nocera’s business and personal bank accounts, after convincing a judge there was probable cause to believe the funds were derived from unlawful debt collecting and wire fraud. A judgment of $22.5 million Clarence residence.

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Collection Industry News

MAY 3, 2021

Consumer groups are applauding a bill that is meant to keep debt collectors from garnishing the stimulus payments and other direct aid approved by the federal government to offset the financial strain created by the pandemic. Source: site. The measure , given final approval this week in the state Legislature, will head to Gov.

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Collection Industry News

APRIL 21, 2021

The consent order imposes an $860,000 judgment and a permanent ban from any debt collection activities along with other requirements. The debt collector allegedly sent consumers “litigation notices” that falsely represented that consumers would be sued if they did not pay the debt amount on the notices.

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National Service Bureau

DECEMBER 9, 2015

These are important for debt collectors to avoid, especially because they’ve been emphasized recently. As you may or may not know, there are additional considerations that govern military members and debt collections. Enforcement actions involving servicemembers.

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Collection Industry News

MARCH 23, 2021

Court of Appeals for the Third Circuit recently held that a debt collector did not violate the federal Fair Debt Collection Practices Act (FDCPA) when it sent a consumer a collection letter inviting her to “eliminate further collection action” by calling the company, when in fact only written communication could legally stop collection activity.

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Collection Industry News

DECEMBER 21, 2020

However, the Bureau alleges that the Agency did not have the requisite licenses necessary under state law to threaten to sue, sue and collect on judgments in three states — New Jersey, Rhode Island, and Connecticut. The post CFPB Reaches Settlement With Debt Collector Over Deceptive Practices appeared first on Collection Industry News.

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Collection Industry News

MARCH 7, 2022

SB 1200 would limit annual interest to 3 percent, down from 10 percent and restrict the renewal of legal judgments on unpaid debt after 10 years. For years, state law has required courts to charge exorbitant interest rates on legal judgments, exacerbating the debt owed by California families,” Skinner said in a statement. “SB

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Direct Recovery

JULY 31, 2024

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.

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Public Citizen

OCTOBER 24, 2020

.  In addition, the Symposium welcomes discussion over the recent decision by the Uniform Law Commission to address debt collection efforts by third-party debt collectors or buyers based on default judgments.    Selected papers are due after the Symposium on June 4, 2021.   

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Troutman Sanders

SEPTEMBER 15, 2020

On September 4, 2020, the Second Circuit Court of Appeals overturned summary judgment granted to a debt collector who had sent collection documents to the wrong person, ruling that it was not entitled to the bona fide error defense because it lacked procedures governing the factual mistake.

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Troutman Sanders

JANUARY 9, 2023

LLC , the district court for the Northern District of Illinois confirmed the long-standing principle that not all communications sent from a debt collector to a debtor are governed by the Fair Debt Collection Practices Act (FDCPA). ARI acquired a debt owed by the plaintiff. Absolute Resolutions Investments.,

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Direct Recovery

JUNE 24, 2020

Like many other consumer-focused states, California has put a number of different protections in place that forbid debt collectors from garnishing those valuable stimulus checks. Let’s dive into the details and break down exactly what debt collectors can and cannot do right now. The Judgment Factor.

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FFGN COLLECT NY

MAY 8, 2024

The bank violated state laws preventing banks from freezing accounts with certain government benefits like Social Security, unemployment, disability payments, and balances up to (as of April 2024) $3,425. New York allows judgment creditors to restrain bank accounts belonging to judgment debtors once a judgment is entered.

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The Kaplan Group

OCTOBER 19, 2020

Debt settlement companies, also sometimes called “debt relief” or “debt adjusting,” are companies that claim to renegotiate, settle, or in some way change the terms of your debt to a creditor or debt collector. A judgment is the official result of a lawsuit in court.

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Collection Industry News

AUGUST 18, 2020

Our cases make clear that a plaintiff must identify something beyond the mere enforcement of a security interest to establish that the defendants are acting as debt collectors subject to the FDCPA’s broad code of conduct. That remedy, called a deficiency judgment, is often available in judicial foreclosure proceedings.

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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.

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FFGN COLLECT NY

JANUARY 13, 2021

Whether you are looking for assistance with collection efforts or want to make sure your current vendor is in compliance, you should be familiar with the laws that govern New York debt collection. As far as regulations and requirements within New York, the type of debt dictates which rules and regulations apply to debt collectors.

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Collection Industry News

MAY 30, 2022

Upsolve, a nonprofit organization enabling people to file for bankruptcy on their own for free, wanted to create a program that would let non-lawyers give basic advice to New Yorkers facing debt-collection actions from lenders and third-party debt buyers. Volunteers would offer the advice after training, according to court papers.

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FFGN COLLECT NY

JUNE 14, 2023

First, if either the collection agency or collection law firm engage in collecting debt from consumers for personal, household, or medical debts, they are subject to the Fair Debt Collection Practices Act (FDCPA). Collection law firms, however, are able to use legal enforcement mechanisms upon entry of judgment against debtors.

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Direct Recovery

AUGUST 1, 2024

When things get difficult and payments are missed, debt collectors are the ones that get tasked with tracking and collecting what is owed as efficiently as possible. Depending on who they are working with, this can fall into one of two categories: commercial debt collection and consumer debt collection.

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Better Credit Blog

FEBRUARY 15, 2021

Though you may be unfamiliar with Fairway, the agency collects on a wide range of consumer debts, including the following: Health insurance billing and follow-up. Government fines and fees. Depending on other factors on your credit score and the extent of your debt, a collections account can drop your score significantly.

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Consumer Financial Services Law

OCTOBER 12, 2016

The Eleventh Circuit recently joined the First and Eighth Circuits in concluding that the FDCPA’s venue provision does not apply to post-judgment garnishment proceedings. Post judgment, the law firm filed a garnishment proceeding against the consumer’s bank seeking to collect on the judgment. 1692i(a)(2). 1692i(a)(2).

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Better Credit Blog

OCTOBER 5, 2020

Today, we’ll walk you through all the details you need to know about Penn Credit and debt collectors in general so you can have them taken off your report in no time. Penn Credit Corporation is a legitimate debt collector , one that is headquartered in Harrisburg, Pennsylvania. What Is Penn Credit Corporation?

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Collection Industry News

SEPTEMBER 28, 2021

Court of Appeals for the Seventh Circuit recently affirmed judgment in a debt collector’s favor against claims that its efforts to collect attorney’s fees incurred to collect a debt — including the fees incurred in collecting the attorney’s fees — violated the federal Fair Debt Collection Practices Act.

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Troutman Sanders

MAY 26, 2021

The amendments provide more clarity to creditors and debt collectors, as well as tools to avoid litigation. The Amendments Focus on Deterring Meritless Claims by the Addition of an Offer of Judgment Provision, Including the Right to Recover Attorneys’ Fees.

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Better Credit Blog

OCTOBER 19, 2020

Account Control Technology is a debt collector, and if they’re contacting you, it means you probably let a payment slip through the cracks. Confronting a collections agency about your debt can be stressful, especially when you’re receiving countless calls and constant messages from them. Consumer finance debt.

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Better Credit Blog

OCTOBER 19, 2020

Account Control Technology is a debt collector, and if they’re contacting you, it means you probably let a payment slip through the cracks. Confronting a collections agency about your debt can be stressful, especially when you’re receiving countless calls and constant messages from them. Consumer finance debt.

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Credit Management Company

JULY 14, 2021

The debt collection company electronically sent the following information to its third-party vendor: The consumer’s name and address. The debt concerned his son’s medical treatment. They ruled that the transmittal of information did not qualify as a communication “in connection with the collection of a[ny] debt.”. Balance owned.

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Collection Industry News

SEPTEMBER 23, 2020

Court of Appeals for the Second Circuit recently held that a debt collector did not violate the federal Fair Debt Collection Practices Act (FDCPA) where it unintentionally sent a valid debt collection communication to a non-debtor. A collection firm obtained a default judgment over a debtor named “William J.

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Collection Industry News

OCTOBER 27, 2020

Axiom Acquisition Ventures, LLC (“Axiom”) bought Robert Valenzuela’s consumer debt from a bank after he allegedly defaulted on his personal loan payments. Court of Appeals for the Eleventh Circuit, that a communication from a debt collector can have dual purposes, such as giving notice and demanding payment.

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Taurus Collect

DECEMBER 18, 2023

When a business owes another business, the owed entity may engage a commercial debt collection agency to recover the debt on their behalf. These agencies employ various strategies to recover the debt, including negotiation, mediation, or legal action. No Win, No Fee: This model offers risk-free debt recovery.

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Collection Industry News

JANUARY 13, 2021

1692f(8), a provision of the Fair Debt Collection Practices Act (FDCPA) regulating what may be shown on an envelope when a debt collector communicates with a consumer by mail, does not include a “benign language” exception. The consumer received a letter from the defendant demanding payment of a medical debt.

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