Consumer Financial Services Law

JANUARY 11, 2017

A New York District Court recently addressed the issue of whether the FDCPA requires passive debt buyers to personally register disputes or whether they can delegate that obligation to their third party debt collector/servicer. Passive debt buyers purchase debt but retain third parties to service and collect the debt.

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Troutman Sanders

NOVEMBER 1, 2021

28, 2021) , plaintiff Roberta Bordeaux, on behalf of herself and a class of similarly situated persons, asserted that defendant debt collector LTD Financial Services LP (LTD) violated the Fair Debt Collection Practices Act (FDCPA) by sending collection letters, referencing potential tax reporting consequences of accepting a debt settlement.

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Troutman Sanders

NOVEMBER 15, 2022

District Court for the District of New Hampshire granted the Securities and Exchange Commission’s (SEC) motion for summary judgment against blockchain-based, file-sharing platform LBRY. In its summary judgment motion, the SEC argued that LBRY’s public offering of its native token LBC constituted an unregistered sale of securities.

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Troutman Sanders

JANUARY 20, 2022

Beyond the student loan and mortgage context, state attorney generals have advanced this theory in their investigations of auto lenders [4] and debt settlement companies. [5]. 1, 2021), [link] ; See e.g., Final Judgment, Commonwealth v. 5] Final Judgment at (IV)(8)(h), Commonwealth v. DMB Financial, LLC. , Washington v.

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Collection Industry News

MAY 3, 2022

– Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order to resolve its allegations that Performance SLC, a student loan debt relief business, and Performance Settlement, a general debt-settlement company, along with their owner and CEO, Daniel Crenshaw, engaged in wrongful fee-charging practices and deceptive telemarketing.

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Taurus Collect

NOVEMBER 15, 2023

Seek Help from the Financial Ombudsman Service (FOS): If you’re dissatisfied with the response from the FCA, or if the debt collection agency still does not resolve the issue, you can turn to the FOS. The FOS can independently review your complaint and provide a judgment.

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Credit Corp

MAY 1, 2024

Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. It’s crucial to fully understand the terms and consequences before pursuing debt forgiveness and to explore other options such as debt management or consolidation.

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Sawin & Shea

MAY 2, 2024

Enter Sawin & Shea, LLC – a firm with over 50 years of combined experience in bankruptcy services, dedicated to providing compassionate and non-judgmental representation to individuals and families in need. The key is making an informed choice based on your unique circumstances.

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Troutman Sanders

APRIL 19, 2021

Pritzker issued an executive order extending the suspension of garnishment, deduction of wages, and post-judgment citations to discover assets through April 30. The company was operating without registering as a debt settlement service provider as required by Minnesota law. For more information, click here.

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Troutman Sanders

JULY 26, 2021

On July 18, Indiana University’s COVID-19 vaccine mandate and related face-masking and testing requirements survived challenging students’ motion for a preliminary judgment. To attend the meeting, click here. The students argued the vaccine requirement was a due process violation under the Fourteenth Amendment to the U.S. Constitution.

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