A couple of months ago, the Consumer Financial Protection Bureau issued a research paper it said revealed that many active duty servicemembers who were entitled to interest rate reductions under the federal Servicemembers...more
Every creditor with subprime customers has experienced—on one occasion or another, we expect—someone judging it unfavorably for allegedly taking advantage of consumers by charging higher interest rates. That "tsk-tsk"...more
Many finance companies, debt buyers, debt collectors, and collection law firms wrestle with the question of which statute of limitations to apply when collecting a deficiency balance on a retail installment contract. States...more
Over the past six months or so, creditors, servicers, and debt collectors alike have been forced to revisit disaster management policies in light of the unique and far-reaching impact of COVID-19: it is at once a nationwide...more
11/3/2020
/ Collateral ,
Collection Agencies ,
Consumer Reporting Agencies ,
Coronavirus/COVID-19 ,
Credit Reports ,
Creditors ,
Debt Collection ,
Debt Collectors ,
Financial Services Industry ,
Natural Disasters ,
Policies and Procedures
Secured creditors must be ever mindful of their rights in consumer bankruptcy cases. Details that might seem technical or insignificant can mean the difference between a creditor's obligation being secured and being...more
Many steps creditors take in the process of directly or indirectly originating a vehicle finance agreement are designed to protect the creditor in the event its credit risk assessment was off and the consumer defaults. A...more
10/3/2019
/ Automotive Loans ,
Chapter 13 ,
Consumer Bankruptcy ,
Creditors ,
Default ,
Department of Revenue ,
Filing Requirements ,
Inadvertent Errors ,
Liens ,
Perfected Security Interest ,
Proof of Claims ,
Risk Assessment ,
Secured Debt ,
Sellers ,
Unsecured Debt ,
Vehicle Title
This article is part of a series of articles and webinars Hudson Cook will present over the coming weeks addressing the CFPB's Notice of Proposed Rulemaking on Debt Collection (the "Proposals"). While the Proposals, if...more
7/2/2019
/ Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Debt Collection ,
Debt Collectors ,
Dodd-Frank ,
FDCPA ,
Notice of Proposed Rulemaking (NOPR) ,
Public Comment ,
Skip Tracing ,
Time-Barred Debt ,
Unfair or Deceptive Trade Practices