article thumbnail

Judge Dismisses FDCPA Case Over SOL on Judgment

Account Recovery

Today’s webinar just happens to be on the topic of legal collections (register here) so it’s entirely timely to write about a court ruling involving a judgment. The debt originated from a judgment obtained back in December 2008. Sometimes it’s better to be lucky than good.

Judgment 130
article thumbnail

How to execute effective B2B debt collection strategies

Collections Law

Prepare prejudgment motions: Prior to any sort of litigation, you can attempt to secure payment of the debt in advance of litigation through prejudgment motions to ensure that you don’t just get a judgment for the debt, you also get paid.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Much Does a Charge Off Affect Your Credit Score?

Credit Corp

Creditors can also take legal actions to collect these debts, including judgments. Making arrangements to pay a charged off account removes you from the collections process. That means you don’t have to worry about collectors or legal collection activity in the future. Should I Pay Charged Off Amounts?

article thumbnail

CFPB Issues $4M in Penalties and Permanent Bans Against Predatory Collection Ring

True Accord

On May 23, 2022, the Consumer Financial Protection Bureau (CFPB), in partnership with the New York Attorney General, filed a proposed judgment against a debt collection enterprise with a history of deception and harassment to pay $4 million and be permanently banned from the debt collection industry.

article thumbnail

CFPB Settles with Encore for $15MM Civil Penalties and $78K Monetary Relief

Collection Industry News

On Thursday of last week, the CFPB filed a stipulated judgment that effectively extends the CFPB’s prior consent order with Encore for five more years in addition to applying certain monetary penalties. Just like that, the case is now over. The penalties include $15 million in civil penalties and $78,000 in monetary relief.

article thumbnail

CFPB Annual Report on FDCPA Activities (2024)

Burt and Associates

After winning a court judgment absolving them of rental debt, one tenant found that the debt collector refused to remove the debt from their record, blocking them from securing new housing and impacting their credit. Complaints range from wrongful deductions of security deposits to inflated fees for routine maintenance.

article thumbnail

CFPB Annual Report on FDCPA Activities (2024)

Burt and Associates

After winning a court judgment absolving them of rental debt, one tenant found that the debt collector refused to remove the debt from their record, blocking them from securing new housing and impacting their credit. Complaints range from wrongful deductions of security deposits to inflated fees for routine maintenance.