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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Another revision makes it mandatory for hospitals seeking to garnish a patient’s wages or bank accounts to include with the summons and complaint initiating such action an “affidavit of expert review” making various certifications.

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Best Practices for Call Baiting in Debt Collection

PDC Flow

Call baiting is when the debtor attempts to trick you into breaking a law. They [call baiters] want to engender some kind of litigation or legal claim, says Kaminski, Partner at Carlson & Messer LLP, and Chair of the Financial Services and Class Action Group. But what are they baiting the agent to do?

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

On May 18, the House Financial Services Committee Subcommittee on Digital Assets, Financial Technology, and Inclusion hosted a hearing, titled “‘Stable’ in ‘Stablecoins’: How Legislation Will Help Stablecoins Achieve Their Promise.” For more information, click here. The law will take effect July 1.

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Law Firm's Garnishment Activities Do Not Violate FDCPA

Consumer Financial Services Law

The case arose from the law firm’s post judgment efforts to garnish wages. After serving a garnishment summons, the consumer claimed the funds as exempt. The defendants then made four additional attempts to garnish funds. Unifund CCR, LLC, 2016 U.S. LEXIS 168707 (Dec. The defendants moved to dismiss. Carney at * 12.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

As such, initiating communication with a debtor is prohibited while the emergency remains in effect and for 60 days thereafter. Specifically, hospitals would be prohibited from charging interest or fees on certain debts and from garnishing the wages of individuals who qualify for reduced or free medical care.

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Domestication of Foreign Judgments 101

Jimerson Firm

Generally, when a creditor obtains a judgment in another state, and the judgment debtor is located in the State of Florida, or assets the judgment creditor wants to obtain are located in Florida, the judgment creditor must “domesticate” the judgment in Florida. However, such burden would be on the judgment debtor. 55.505, Fla.

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How New York State’s 2024 Plan Will Affect Debt Collection

FFGN COLLECT NY

Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. More specifically, the Department of Financial Services will crack down on the “buy now, pay later” industry. Over 700,000 New Yorkers have medical debt.