Junk Debt

News & Analysis as of

Possible Tax Consequences of Debt Settlement

People want to pay their debts. If there is one thing I have learned over the last 11 years of practicing law is that people generally want to pay the debts that they have incurred. People usually hire me when they simply...more

How to Defeat the “Account Stated” Claim in Your Midland Funding Lawsuit

When junk debt buyers like Midland Funding file a lawsuit they often don’t have the evidence and documents they need to prove that you had a contract with the original creditor. Because of this they will often not only sue...more

“But They Owe Someone, Right?” – The Importance of Keeping the Court Focused in Your CACH, LLC Lawsuit

Recently I had oral argument on a Motion for Summary Judgment in a debt buyer lawsuit. During my presentation I was arguing that there was no evidence that my client owed any money to the debt buyer, CACH, LLC. The judge in...more

FTC Continues Regulatory Scrutiny of the Debt Buying Industry

The Federal Trade Commission (FTC) recently obtained temporary injunctions against two passive debt buyers, which are companies that buy and sell debt portfolios and exclusively use third-party debt collectors. In complaints...more

Turning the Tables: How You Can Turn Your Debt Collection Lawsuit into an FDCPA Action Against Junk Debt Buyers

With increasing regularity I am seeing clients who initially are sued by a junk debt buyer like Midland Funding, Portfolio Recovery, or CACH, LLC turn the tables on the debt buyer and file a claim for violations of the Fair...more

“It’s Just How Business is Done” – Judicial Bias in Junk Debt Buyer Cases?

This particular case was particularly bad as to the complete lack of evidence. The alleged debt had switched hands at least four times and not a single bill of sale identified a single account. The witness for Midland...more

Keys to Winning Your Case with Midland Funding- Understanding the Hearsay Rule

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

Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk  [Video]

May 22 (Bloomberg) -- AMF Bowling Worldwide Inc. and Ahern Rentals Inc. are prime examples of the frothy market where junk-bond investors are fearless in the face of risk, as Bloomberg Law's Lee Pacchia and Bloomberg News...more

Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing  [Video]

March 13 (Bloomberg Law) -- Someone who bought stock in American Airlines last year already made a killing. Stock that could have been bought in November for less than 40 cents a share is now trading above $4, for...more

Midland Funding Lawsuits in Arizona: Proven Strategies to Win Your Case

Every day here in Arizona numerous lawsuits are filed by Midland Funding against people like you. People who don’t have a clue who Midland Funding even is....more

Bill on Bankruptcy: Delaware to Continue Dominating Bankruptcy  [Video]

Feb. 6 (Bloomberg) -- The dominance of Delaware and New York bankruptcy courts is secure for another two years, for reasons Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle explain on their...more

Bill on Bankruptcy: Junk Debt Interest Rates at 30-Year Low  [Video]

Jan. 30 (Bloomberg) -- Interest rates for junk debt reached a 30-year low in the last week, as Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss on their new video. Financially struggling companies...more

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