The U.S. District Court for the Middle District of Florida recently dismissed allegations that a debt buyer violated the federal Fair Debt Collection Practices Act by filing a proof of claim on time-barred debt, holding that such claims are precluded by the Bankruptcy Code, and that the FDCPA does not provide a private right of action against debt collectors who file time-barred proofs of claim in bankruptcy court.
A federal judge in Indianapolis has ruled that a lawsuit alleging violations of the FDCPA and the United States Racketeer Influence and Corrupt Organization Act (“RICO”) against Sherman Financial Group, one of the country’s largest debt buyers, cannot proceed as a class action because circumstances vary too much among the class members. Assuming this decision withstands any subsequent appeal it appears that Sherman made a good decision to vigorously defend the case.
In what appears to be the case that won’t go away, a debt buyer is dealt another blow by the U.S. Court of Appeals for the Seventh Circuit. This case has twice generated opinions that impact the ARM industry.
Yesterday Missouri Attorney General Chris Koster joined forces with Legal Services of Eastern Missouri, Legal Aid of Western Missouri, Legal Services of Southern Missouri, and Mid Missouri Legal Services to propose reforms aimed at curbing what he describes as “abusive debt collection lawsuits in Missouri.” Koster outlined three proposed amendments to the State’s rules of civil court procedure.
DBA International is seeking qualified candidates who wish to run for a two-year term on the Board of Directors. In 2016, there will be three (3) open Director seats on the 10-member Board that the DBA membership will fill during the association’s annual election. Qualified individuals who wish to run must declare their candidacy no later than December […]
In DBA International’s pursuit of continuous improvement, we are proud to announce the adoption of version 3.1 of the Receivables Management Certification Program. The Certification Program offers two distinct certification designations – the “Certified Professional Receivables Company” (CPRC) for companies and the “Certified Receivables Compliance Professional” (CRCP) for individuals. The uniform industry best practices for […]
The FTC wrapped up its three city Debt Dialogue tour in Atlanta, Georgia yesterday afternoon with very animated “dialogues” among regulators and representatives of the credit and collections industry. The wide-ranging discussion covered communication between collectors and consumers, industry self-regulation, collection complaints, and more.
A recent Illinois bill provides a welcome fix to the Illinois Collection Agency Act (ICAA). The legislation, SB 1369, corrects amendments made to the ICAA this past August. Those amendments potentially expanded sections of the ICAA to commercial debt and would require disclosures contrary to (and possibly in violation of) the federal Fair Debt Collection Practices Act. The […]
Court documents were filed yesterday, preliminarily approving the class action settlements in Monique Sykes, et al., vs. Mel S. Harris and Associates, LLC, et al. A Fairness Hearing has been scheduled for May 11, 2016, in the U.S. District Court for the Southern District of New York. The case is a class-action lawsuit originally certified […]
Last Friday, Encore Capital Group (ECPG), an international specialty finance company with operations in eight countries, reported its financial results for the third quarter of 2015, ending September 30, 2015. Third Quarter Highlights Gross collections from the portfolio purchasing and recovery business grew 4% to $422 million, compared to $407 million in the same period of […]