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Time-Barred Debt Fair Debt Collection Practices Act

Troutman Pepper

CFPB Advisory Opinion on Time-barred Debt Collection - The Consumer Finance Podcast

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In our latest episode of The Consumer Finance Podcast, Chris Willis and his colleagues Stefanie Jackman, Joe Reilly, and Jonathan Floyd discuss the CFPB’s advisory opinion related to collection of time-barred debt. The...more

Bilzin Sumberg

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

Bilzin Sumberg on

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

Adams and Reese LLP

Consumer Financial Protection Bureau Issues “Zombie Mortgage” Advisory Opinion

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The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion last month to affirm that the Fair Debt Collection Practices Act (FDCPA) and its implementing Regulation F prohibit a debt collector, as that term is...more

Orrick, Herrington & Sutcliffe LLP

CFPB warns debt collectors on “zombie mortgages”

On April 26, the CFPB issued an advisory opinion affirming that the FDCPA and implementing Regulation F prohibit covered debt collectors from suing or threatening to sue to collect time-barred debt. As such, a debt collector...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

Ballard Spahr LLP on

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

Burr & Forman

Seventh Circuit Dismisses FDCPA Claim for Lack of Standing

Burr & Forman on

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

Hudson Cook, LLP

The Perils of Attempting to Collect Time-Barred Debt

Hudson Cook, LLP on

A recent case in New Mexico highlights how careful creditors must be when attempting to collect debts that are more than a couple of years old. A mother and daughter, Debra and Debbie Agosto, bought a used car from a...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

Ward and Smith, P.A. on

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

Fox Rothschild LLP on

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

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

Smith Debnam Narron Drake Saintsing & Myers,...

The CFPB Publishes the Remainder of its Final Debt Collection Rule – Here’s What You Need to Know

On December 18, 2020, the CFPB published the remainder of its Final Debt Collection Rule (the “Rule”) highlighting its crown jewel - the provisions centering around debt validation notices. While the bulk of Part 2...more

Blank Rome LLP

CFPB Issues Second Final Rule Clarifying Regulation of Fair Debt Collection Practices

Blank Rome LLP on

On December 18, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a final rule concerning debt collection disclosures, which follows its October 30, 2020 final rule regarding debt collection communications. The...more

Ballard Spahr LLP

CFPB issues Part II of final collection rule: initial impressions

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The CFPB issued Part II of its final collection rule on December 18, 2020. Part II supplements the final rule issued on October 30, 2020, about which our team published a series of blog posts on topics such as impacts on...more

Manatt, Phelps & Phillips, LLP

CFPB Releases Final Debt Collection Rule, Part 1

On October 30, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) released the first part of its long-awaited final Debt Collection Rule, which substantially updates and modernizes Regulation F, the implementing...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – October 2020

CFPB Issues Final Debt Collection Rule - Among other points, the first installment allows for using text messaging and email when collecting on debts, provided that the debt collector gives instructions about how to...more

Bradley Arant Boult Cummings LLP

CFPB Plans to Publish Final Debt Collection Rules in October

On Thursday, July 2, the Consumer Financial Protection Bureau (CFPB) announced that it plans to publish final debt collection rules in October 2020. The final rules will be the first rules clarifying the nearly 40-year-old...more

Hinshaw & Culbertson - Consumer Financial...

Consumer Law Hinsights – May 2020

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

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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...

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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

Manatt, Phelps & Phillips, LLP

CFPB: Debt Collectors, Consumers Receive Clarity on Time-Barred Debt

Proposing a specific limit on debt collectors but also providing a safe harbor for compliance, the Consumer Financial Protection Bureau (CFPB) has issued proposed regulations that would allow debt collectors to contact...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2020

Federal Reserve Revises Framework for Determining Control of a Banking Organization The Federal Reserve has adopted a final rule to simplify and clarify its regulations for determining control of a banking organization for...more

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