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Statute of Limitations › Time-Barred Debt

Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period... more +
Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -
Bilzin Sumberg

Revival of Time-Barred Zombie Mortgages May Come Back to Haunt Debt Collectors

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Last month, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on the attempted enforcement of time-barred alleged debt collection rights as to second mortgage loans. It is a violation of the Fair Debt...more

Shipkevich PLLC

CFPB Issues Advisory Opinion on Debt Collection Practices

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On April 26, 2023, the Consumer Financial Protection Bureau (CFPB) released an advisory opinion to clarify that it is against the law for a debt collector to sue or threaten to sue in order to collect a time-barred debt, as...more

Ballard Spahr LLP

Pennsylvania appellate court rejects claim that dunning letter sent post-expiration of the statute of limitations violated law

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On March 30, 2023, a three-judge panel of the Superior Court of Pennsylvania held in a precedential opinion that debt collectors can send collection letters to debtors after the expiration of the statute of limitations...more

Perkins Coie

The Foreclosure Abuse Prevention Act is Now Law

Perkins Coie on

On December 30, 2022, New York Governor Kathy Hochul signed into law the Foreclosure Abuse Prevention Act (FAPA) after the bill’s passage by both the New York state senate and the assembly. FAPA is a direct response to a New...more

Burr & Forman

Seventh Circuit Dismisses FDCPA Claim for Lack of Standing

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In Pierre v. Midland Credit Management, Inc., — F.4th —, 2022 WL 986441 (7th Cir. Apr. 1, 2022), the Seventh Circuit affirmed the dismissal of a claim under the Fair Debt Collection Practices Act (“FDCPA”), finding that the...more

Ward and Smith, P.A.

A Paradigm Shift in Consumer Collections: How the CFPB's Final Rule is Certain to Affect Creditors and Debt Collectors

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The Fair Debt Collection Practices Act (FDCPA) is a dense federal statute that governs debt collection.  If you have read some of my previous articles on the topic, you will recall that this set of laws, in conjunction...more

Perkins Coie

Strict Liability for Debt Collectors Attempting to Collect a Time-Barred Debt Through Litigation

Perkins Coie on

In 2020, the Consumer Financial Protection Bureau (CFPB) promulgated 12 C.F.R. § 1006.26, amending Regulation F, to implement and interpret the Fair Debt Collection Practices Act (FDCPA). It will become effective on November...more

Fox Rothschild LLP

FDCPA to be Amended Effective November 30, 2021 by New Regulation F

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Effective November 30, 3031, the Consumer Financial Protection Bureau (CFPB) will enact Regulation F to 12 C.F.R. 1006, which will be the first comprehensive federal debt collection regulations interpreting the Fair Debt...more

Hudson Cook, LLP

Statutes of Limitations: Some Guidance for Vehicle Finance from the Ninth Circuit

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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

Morrison & Foerster LLP - Left Coast Appeals

This Week at the Ninth: Old Debts and Flight Attendants

Morrison & Foerster LLP - Left Coast Appeals on

This week, we take a look at two cases requiring the Ninth Circuit to navigate interlocking provisions of state and federal law.  In the first case, the Court addressed how the Fair Debt Collection Practices Act applies to a...more

Ballard Spahr LLP

Ninth Circuit Holds Debt Collector’s Statute Of Limitations Mistake Can Qualify For FDCPA Bona Fide Error Defense

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In a case of first impression, the U.S. Court of Appeals for the Ninth Circuit held that a debt collector’s mistake about the time-barred status of a debt under state law can qualify as a bona fide error within the meaning of...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – May 2020

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Consumer Law Hinsights is a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies....more

Hudson Cook, LLP

CFPB Proposes Time-Barred Debt Disclosures

Hudson Cook, LLP on

As a supplement to its notice of proposed rulemaking on debt collection, on February 21, 2020, the Consumer Financial Protection Bureau issued additional proposed rules addressing attempts to collect debts for which the...more

Ballard Spahr LLP

Maryland federal district court rules choice of law provision applies to effect of partial payment on statute of limitations...

Ballard Spahr LLP on

A Maryland federal district court, in Jennings v. Dynamic Recovery Solutions LLC, ruled that the effect of a partial payment on revival of the statute of limitations was governed by the law of Delaware, the state designated...more

Clark Hill PLC

The Impact of the CFPB's Supplemental Proposed Rulemaking for Time-Barred Debt Disclosures is Greater than what Appears

Clark Hill PLC on

Last Friday, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Supplemental Notice of Proposed Rulemaking (SNPR) for time-barred debt disclosures. ...more

Ballard Spahr LLP

CFPB issues proposed rule to require debt collectors to make disclosures for time-barred debts

Ballard Spahr LLP on

The CFPB has issued a proposal that would require debt collectors to make specified disclosures when collecting time-barred debts (Disclosure Proposal).  The Disclosure Proposal supplements the Bureau’s proposed debt...more

Ballard Spahr LLP

CDIA and Metro 2 approve new special comment code for extinguished debts

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Recently, the Consumer Data Industry Association (CDIA) and the Metro 2 Taskforce approved a new Special Comment Code in FAQ 69.  According to CDIA’s press release , the new code, “DE = Debt Extinguished Under State Law,”...more

Smith Debnam Narron Drake Saintsing & Myers,...

District Court Rules “Informational Injury” Sufficient to Confer Article III Standing

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Attempting to collect on time-barred debt without informing the consumer that a payment may renew the applicable statute of limitations creates an “informational injury” sufficient to confer Article III standing, a district...more

Balch & Bingham LLP

Eleventh Circuit Rules that Express Threat of Litigation Not Required to Implicate FDCPA

Balch & Bingham LLP on

On April 5, 2019, in Holzman v. Malcom S. Gerald & Assocs., Inc., 2019 WL 1495642, the Eleventh Circuit held that an express threat of litigation is not required to state a claim under the Fair Debt Collection Practices Act...more

Burr & Forman

11th Circuit Court Rejects Claim that Mortgage Statements Sought Time Barred Debt in Violation of FDCPA

Burr & Forman on

In Green v. Specialized Loan Servicing, LLC, 17-15681, the Eleventh Circuit Court of Appeals rejected a consumers contention that his monthly mortgage statement should only seek his last five years of mortgage installments...more

Burr & Forman

District Court in Alabama Dismisses Putative Class Action Alleging Settlement Letter Violated the FDCPA

Burr & Forman on

In Swann v. Dynamic Recovery Solutions, LLC, No. 4:18-CV-1000-VEH, 2018 WL 6198997 (N.D. Ala. Nov. 28, 2018), the Northern District of Alabama dismissed a putative class action case alleging a letter seeking to collect a...more

Bradley Arant Boult Cummings LLP

BCFP Enters into Consent Order with Small Dollar Lender #2

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On October 24, 2018, the Bureau of Consumer Financial Protection (BCFP), formerly known as the CFPB, entered into a Consent Order with Cash Express, LLC. Cash Express is a small dollar lender based in Cookeville, Tennessee,...more

Ballard Spahr LLP

CFPB announces consent order with small-dollar lender

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The CFPB announced that it has entered into a consent order with Cash Express, LLC to settle charges that the company engaged in deceptive and abusive acts or practices in violation of the Consumer Financial Protection Act...more

Troutman Pepper

California Requires New Notices Before Attempting to Collect Time-Barred Debt

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On September 5, California Governor Jerry Brown signed a bill amending the state’s debt collection law to place additional restrictions on the collection of time-barred debts. ...more

Ballard Spahr LLP

California Enacts Additional Limits on Collecting Time Barred Debts

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Beginning in 2019, all California “debt collectors”—including creditors collecting their own debts regularly and in the ordinary course of business—will be required to provide notice to debtors when collecting on debts that...more

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