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Collection Law Firms

Debt collection law firms, also known as creditor’s rights law firms, focus on the collection of debt through the court system. While traditional collection agencies are not authorized to file lawsuits against debtors, collection attorneys specialize in taking debt cases to court to try to obtain court-ordered judgments against debtors.

In addition to teams of legal professionals, many collection law firms have extensive collection operations that conduct more traditional debt recovery activity.

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Court Allows FDCPA Suit Where Assignment of Judgment Failed to List Current Balance of Debt

In a ruling bound to increase compliance concerns for purchasers of bad debts and collection law firms hired to enforce judgments against consumers, the United States Court of Appeals for the Fourth Circuit in Powell v. Palisades Acquisition XI, held that the filing of an assignment of judgment is a collection action subject to the Fair Debt Collection Practices Act (FDCPA).

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New York Adopts New Statewide Regulations on Debt Collection

New York State’s Department of Financial Services Wednesday announced the formal adoption of new debt collection regulations that place new specific disclosure and written communication requirements on third party debt collectors and debt buyers. In addition to new requirements, the rules also create a structure for the use of email in debt collection efforts.