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Compliance Digest – December 30

Account Recovery

A pro se consumer had managed to get a 3-judge panel of the Court of Appeals to reverse (in a 2-1 decision) lower court rulings finding that PRA had established its standing to sue and its ownership of the debtors account in the underlying collection action, and judgment in its favor on the debt.

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Dealing with Debt Collectors

Debt Free Colorado

In this article we will answer the question: What can debt collectors do to you? Does Colorado Law Protect Me From Debt Collectors? When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states.

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What is a Judgment?

Credit Corp

A judgment is an order issued by a court of law. When you borrow money, you are legally required to repay the debt. If they are successful, the court issues a judgment against you. What Happens After a Judgment Is Entered Against You? You should receive a notice of the judgment entry in the mail. These laws vary.

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5 Steps to Fight a Credit Card Lawsuit

Credit Corp

Dealing with credit card debt is challenging, let alone facing a debt lawsuit.If If you find yourself being sued by a debt collector, you may wonder how to get a credit card lawsuit dismissed. Unfortunately, as consumer debt rises, lawsuits are becoming more and more common. An estimated 2.5

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FTC settlement bans phantom-debt collectors from industry

Public Citizen

From a Federal Trade Commission press release : A group of phantom debt collectors will be permanently banned from the debt collection industry and required to surrender the contents of numerous bank and investment accounts under the terms of a settlement  with the Federal Trade Commission.

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Can a Debt Collector Collect After 10 Years?

Credit Corp

Getting calls from debt collectors can be frustrating and even confusing. That’s even truer when someone is contacting you about an old debt you forgot about, thought was long resolved, or didn’t know about in the first place. Can a debt collector collect after 10 years, for example? In This Piece.

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What Is a Judgment?

Credit Corp

A judgment is an order issued by a judge or jury to settle a lawsuit. For example, if you fail to pay a debt, the lender can take you to court. In this case, the judge may order you to pay the other party as part of the court’s final judgment. These terms are laid out in the final judgment. What Is a Judgment on Property?