It’s not necessary to read more than the cover page to know that the debt collection industry does not fare well in the report issued this week by the New Economy Project (NEP). The cover page reads: “The Debt Collection...more
A woman received phone calls from a debt collector who said a “civil claim” was pending against the woman for a consumer debt. The woman sued in federal court, alleging violations of state and federal fair debt collection...more
At yesterday’s joint FTC-CFPB roundtable on the debt collection industry, industry representatives advocated for a uniform, national standard for the documentation to be provided to debtors in the pre-litigation phase of the...more
Industry representatives and consumer advocates collectively lamented the high non-appearance rate of debtors in court in debt collection cases at yesterday’s joint FTC-CFPB roundtable on the debt collection industry....more
At yesterday’s joint FTC-CFPB roundtable on the debt collection industry, the Fair Debt Collection Practices Act (“FDCPA”) was referenced together with the “1970s” a number of times. Commissioner Julie Brill, in an unscripted...more
In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; International; and Upcoming Hearings. Excerpt from Leading the Past Week - And the beat goes on… Another week with the White...more
A collection letter violated the Fair Debt Collection Practices Act (FDCPA) because it stated that the debtor could only dispute the debt in writing, the U.S. Court of Appeals for the Second Circuit has ruled....more
On May 29, in a case of first impression for that circuit, the U.S. Court of Appeals for the Second Circuit held that a debt collector’s collection notice requiring a debtor to dispute a debt in writing violated the FDCPA’s...more
Yesterday, the CFPB took the first step in enforcing the “abusive” standard under the Dodd-Frank Act’s prohibition of unfair, deceptive and abusive acts and practices (“UDAAP”) by filing a federal action against a Florida...more
Pine Top Receivables of Illinois, LLC v. Banco De Seguros Del Estado, No. 12 6357, 2013 U.S. Dist. LEXIS 15246; 2013 U.S. Dist. LEXIS 28040 (N. D. Ill. Feb. 5 & 25, 2013). An Illinois federal court in two decisions...more
Being sued by Midland Funding – or any junk debt buyer for that matter – can be a scary experience. The big stack of documents dropped off by the process server look official and you may be thinking to yourself that there is...more
In a recently released decision from the U.S. District Court for the Southern District of Florida, Mais v. Gulf Coast Collection Bureau, et al., Judge Robert N. Scola, Jr., granted in part and denied in part cross motions for...more
On May 1, the FTC and the CFPB announced a roundtable to “examine the flow of consumer data throughout the debt collection process” and discuss (i) the amount of documentation and other information currently available to...more
The CFPB and FTC have announced that they will co-host a roundtable on June 6, 2013 in Washington, D.C. to examine the flow of consumer data throughout the debt collection process. Titled “Life of a Debt: Data Integrity in...more
In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - CREDIT CARDS - E-COMMERCE - PRIVACY/DATA SECURITY -...more
I have been asked to be a receiver to help collect a judgment. The judgment debtor has intellectual property assets. Plaintiff’s counsel has asked me how hard it will be to get me appointed and if I would be able to sell the...more
In Kahmeyer v. Federal Credit Corporation, the 13th Judicial Circuit in Hillsborough County, Florida released an opinion that has given new life to the argument that each violation of the Florida Consumer Collection Practices...more
Debt collection is big business—easily a multibillion-dollar industry. In 2012, approximately 30 million individuals, or 14 percent of American adults, had debt (averaging about $1,500) that was or had been subject to the...more
The United States District Court for the District of Columbia recently ruled, again, that a Medicare contractor is not permitted to disallow Medicare bad debts solely on the ground that the bad debt is still at an outside...more
For the consumer debt collection industry, the federal regulators have arrived. In February 2013, the Consumer Financial Protection Bureau (CFPB) began supervising roughly 175 large consumer debt collectors, defined as those...more
The Consumer Financial Protection Bureau’s second annual report to Congress on enforcement of the Fair Debt Collection Practices Act (FDCPA) confirms that debt collection will continue to be a major CFPB focus in 2013....more
Originally Published in ABA's Business Law Today - March 2013. Prior to the enactment and implementation of Title X of the Dodd-Frank Act (Pub. L. No. 111-203, 124 Stat. 1376 (2011)), the actions of the nation's large...more
In Law Offices of David J. Stern, P.A. v. Hewitt, 106 So. 3d 489 (Fla. 4th DCA 2013), the District Court of Appeal of the Fourth District of Florida reviewed a trial court order certifying a class of homeowners in an action...more
In This Issue: - Uniform State Test Implementation Nearing - Mortgage Servicer's Alleged Failure To Be Licensed Subjects Company to Claims under State and Federal Debt Collection Statutes - Sixth Circuit...more
Midland Funding is a debt buyer that buys Arizona debts in huge volume. If you have been sued by Midland Funding your first thought was likely “Midland who?” After getting over the unsettling experience of being sued it is...more
JD Supra gets your content noticed, increases your visibility and makes your marketing efforts hassle free...
Learn More or Schedule a demo
