A bill that would offer a technical fix to the Fair Debt Collection Practices Act (FDCPA) aimed at collection attorneys has picked up three additional co-sponsors this month in the U.S. House of Representatives, including two in the past week alone.
The Sixth Circuit Court of Appeals Wednesday upheld a lower court judgment in an FDCPA case against a collection agency over the use of the word “of” rather than “after” in the validation notice in a debt collection letter.
A recent ruling by an appellate court took a very troubling position on debt collectors’ use of settlement offers to resolve debt. An ARM legal expert wonders if the ruling will result in an unintended consequence: more collection lawsuits.
Most lawsuits claiming violations of the Fair Debt Collection Practices Act (FDCPA) are resolved without a court ruling on the merits. Further, debt collectors win a surprising number of these out-of-court resolutions, obtaining dismissals of the cases without paying anything to settle.
The challenges facing debt collectors – and creditors, and consumers – today are more than 30 years in the making and have compounded over time. So it’s the perfect opportunity to get everyone in the same room to talk it out.
Last week the Seventh Circuit Court of Appeals issued its opinion in the consolidated appeals of McMahon v. LVNV Funding and Delgado v. Capital Management Services concerning the collection of time-barred debt without the threat of litigation. The result is not good for the credit and collections industry, principally because it further confuses application of the FDCPA across the nation.
On March 13, 2014, ACPAC, ACA International’s political action committee, welcomed Rep. Lynn Westmoreland (R-Ga.) to the association’s Washington, D.C., office in support of his reelection campaign.
Ensuring total compliance with the TCPA as well as state and local rules for telephone numbers, work numbers and cell phone numbers must be managed with technology to ensure collectors cannot violate the policies set forth by the agency or law firm.
ARMing Heroes, the collection industry’s charity for military veterans, reached a major milestone this month, celebrating five years of helping vets struggling with financial problems.
Since July 2013, the CFPB has been the main federal agency tasked with accepting, compiling, and resolving consumer complaints about debt collection. But the FTC still collects those complaints through a variety of other sources. According to FTC data on consumer complaints, the share of debt collection complaints originating in a particular smartphone app has risen dramatically.