Debt Collectors

News & Analysis as of

CFPB Issues Sweeping and Unprecedented Rulemaking Proposals Seeking to “Drastically Overhaul Debt Collection Market”; Proposals...

Early in the morning on July 28, 2016, in coordination with the Consumer Financial Protection Bureau’s (the “Bureau”) field hearing on debt collection being held the same day in Sacramento, California, the Bureau released a...more

CFPB Outline of Debt Collection Proposals

On July 28th, the Consumer Financial Protection Bureau (CFPB) released a 71 page “outline” of proposals under consideration for its debt collector and debt buyer rulemaking. The outline was released in conjunction with the...more

CFPB Issues Long-Awaited Proposals for Regulation of the Debt Collection Industry

Today, the Consumer Financial Protection Bureau ("CFPB" or "Bureau"), issued its outline of proposals under consideration for the regulation of debt collection. More than three years in the making, the CFPB's proposals will...more

Consumer Financial Protection Bureau Announces Proposal to Overhaul the Debt Collection Market at Hearing in California

On July 28, 2016, the Consumer Financial Protection Bureau (“CFPB”) and Director Richard Cordray announced at a field hearing in Sacramento, California the CFPB’s proposals to overhaul the $13.7 billion dollar debt collection...more

The Ninth Circuit Holds That Subsequent Debt Collectors Must Send FDCPA Validation-of-Debt Notices

The Ninth Circuit recently construed the Fair Debt Collection Practices Act (“FDCPA”) provision that requires a debt collector to send a validation-of-debt notice within five days of “the initial communication” with a...more

Ninth Circuit Holds Each Debt Collector Must Send a 1692g Validation Notice, Even If Previously Provided By Another Debt Collector...

In Hernandez v. Williams, Zinman & Parham PC, No. 14-15672, — F.3d –, 2016 WL 3913445 (9th Cir. July 20, 2016), the Ninth Circuit Court of Appeals held that each subsequent debt collector is required to send a § 1692g(a)...more

Ninth Circuit Case of First Impression Holds That FDCPA Notice Requirement Applies to Subsequent Collectors of Same Debt

Action Item: The Ninth Circuit reversed the Arizona District Court’s summary judgment in favor of a defendant debt collector in an action under the Fair Debt Collection Practices Act. In a case of first impression, the Ninth...more

Midland Funding Continues to Flood Arizona Courts with Debt Collection Lawsuits

Midland Funding continues to flood Arizona courts with debt collection lawsuits filed against Arizona consumers. Last year I pulled the data in October 2015 as to the number of lawsuits filed by junk debt buyers like Midland...more

5 Reasons Why You Need a Lawyer in Your Arizona Debt Collection Lawsuit

Junk debt buyers like Midland Funding, Portfolio Recovery, Cavalry SPV, CACH, LLC, and Cortez Investment files thousands debt collection cases in Arizona courts every month. Most of these cases don’t end well. In fact, over...more

District of Columbia Settles Unlawful Collection Claims Against Debt Collector

On June 21, the Attorney General for the District of Columbia announced a settlement with a debt collector for alleged violations of the District’s debt collection and consumer protection laws. Specifically, the District...more

Consumer Financial Services Newsletter - June 2016

Seventh Circuit Held No Implicit Threat to Proceed to Trial by Debt Collector When Filing a Collection Lawsuit - St. John v. CACH, LLC, No.14-2760, 2016 WL 2909195 (7th Cir. May 19, 2016) - On May 19, 2016, the...more

Sued by a Debt Collector? Don’t Ignore it!

The overwhelming majority of families that are sued by debt collectors either don’t get proper notice or simply ignore it. This isn’t the first (or even second) time I have written about this. Every now and again – usually...more

CFPB files supplemental amicus brief in Third Circuit FDCPA case to address Spokeo

The CFPB has filed a supplemental amicus brief with the U.S. Court of Appeals for the Third Circuit in Bock v. Pressler & Pressler, LLP, the case in which the district court ruled that a debt collection law firm violated the...more

2 Simple Ways to Stop Debt Collectors from Calling

With all the regulations governing debt collectors the telephone is still the quickest (and most annoying) way for a debt collector to try and get in touch with you. Even though debt collectors are clearly aware that most...more

John Oliver Exposes the Ugly Secrets of Debt Buyers

Today in my Facebook feed I was surprised to see John Oliver of “Last Week Tonight” do a segment on how debt buyers are hurting consumers across the country – and he even put the spot light on Arizona as one of four states...more

Seventh Circuit Refuses To Impose a Heightened Litigation Standard on Debt Collector

In St. John v. Cach, LLC, the U.S. Court of Appeals for the Seventh Circuit recently issued an opinion holding that the Fair Debt Collection Practices Act (FDCPA) does not prohibit debt collectors from filing collection...more

Damages for Arizona FDCPA Violations

The Fair Debt Collection Practices Act (“FDCPA”) is a federal law that sets the rules for debt collectors can do and say while trying to collect on a debt. While the FDCPA is a federal law, it protects Arizona residents from...more

NY DFS Obtains $3 Million in Restitution for Illegal Payday Lending

On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a debt buyer for purchasing and collecting on allegedly illegal payday loans made to New York consumers, in violation of the...more

NY DFS Obtains $119K in Restitution for Illegal Payday Lending

On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a Virginia debt buyer for collecting on illegal payday loans from New York consumers, in violation of the Fair Debt...more

Can Credit Card Debt Collectors Continue to Charge Interest and Late Charges After Charging-Off the Debt?

A federal district court in Oklahoma recently dismissed a putative class action asserting that defendants’ credit card debt collection activities violated the Fair Debt Collection Practices Act (“FDCPA”). The case, Walkabout...more

Debt collector, Portfolio Recovery Associates, to pay $18 million to settle TCPA violations

Portfolio Recovery Associates LLC (Portfolio Recovery) agreed to pay $18 million to end multi-district litigation against the debt collection company for its alleged violations of the Telephone Consumer Protection Act (TCPA)....more

Sued by Razor Capital in Arizona? We Can Help.

Have you been sued by Razor Capital? Even though Razor Capital is not an Arizona debt buyer they do file a large number of lawsuits in Arizona courts. Razor’s business model is to purchase old charged-off credit cards, auto...more

Do We Want the CFPB to Regulate the Practice of Law?

On April 25, the Consumer Financial Protection Bureau (“CFPB”) entered into a Consent Order with a New Jersey debt collection law firm, Pressler & Pressler, LLP, and two of its managing partners, Sheldon H. Pressler, and...more

Sued by Cortez Investment Co. ? We Can Help.

Have you been sued by Cortez Investment Co., LLC? If you live in Arizona and have fallen behind on a Citibank credit card there is a good chance you could get sued by Cortez Investment Co. through their lawyers at the...more

FDCPA Claims Related to Venue of State Court Collection and Garnishment Action Barred by Statute of Limitations and Rooker-Feldman...

Michael Marienthal v. Asset Acceptance, LLC and Wright, Lerch, & Litow, LLP, No. 1:14-1636, 2016WL795902 (SD. Ind.) - The U.S. District Court for the Southern District of Indiana granted debt collector and law firm’s...more

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