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Debt Collection

Debt collection refers to the work done to recover balances from credit accounts that are past due. Most commonly, debt collection specifically references third party debt collectors whose clients include banks, credit card issuers and other credit grantors, debt buyers, governments, and any organization that extends credit or owns an account where a balance is due. Collection methods traditionally include phone calls from call center agents, e-mails, and letters, and increasingly, SMS text. If an account remains in arrears after these efforts, the collection agency may contract with a collection attorney to file suit to recover the debt, if the collection agency is not positioned to do so.

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Eleventh Circuit’s Mistaken Interpretation Likely to Expose Attorneys to Increased FDCPA Liability

The Eleventh Circuit Court of Appeals recently handed down a decision that went too far in holding that all litigation related activity is subject to the FDCPA. In pursuing their client’s judgment, an attorney and law firm obtained a garnishment against Nedzad Miljkovic. Miljkovic filed a claim for exemption in response, which the creditor disputed. However, the writ was eventually dissolved on the creditor’s attorney’s motion after Miljkovic provided discovery showing that his wages were exempt from garnishment.

taxes

Encore Partners With U.S. Reps. Peters and Hunter On Bill To Exempt Forgiven Debt From Federal Taxation

Encore Capital Group, Inc. (NASDAQ:ECPG) announced yesterday that it has collaborated with U.S. Reps. Scott Peters (CA-52) and Duncan Hunter (CA-50) to create a bill that would exempt up to $2,500 worth of forgiven personal and household debt from federal taxation. The bill (H.R. 2640) was recently introduced as the “Consumer Debt Forgiveness Tax Relief Act of 2015.” This re-raises the 1099-C debate for the collection industry.

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MyGovWatch.com Makes Federal Debt Collection Report Available

Collingswood, NJ:  MyGovWatch.com has made available for download a free copy of a report the U.S. Department of Treasury (Treasury) provides annually to the U.S. Congress on Federal non-tax government receivables and debt collection activities of U.S. government agencies. MyGovWatch.com offers subscribers insider access to the past, present, and future of government and student loan […]

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Executive Change: ABC-Amega Promotes Tom Riker to VP of Global Operations

Buffalo, NY – ABC-Amega, a global commercial receivable management firm headquartered in Buffalo, NY, is excited to announce that Tom Riker has been promoted from Divisional Vice President of Global Operations to Vice President of Global Operations. In this role, Riker will focus on the strategic planning and development of processes and procedures for the organization’s 3rd Party […]

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USA Funds Sues Department of Education Over Collection Fees

Student loan guaranty agency USA Funds (USA) filed suit last week in federal court against the Department of Education over a letter the Department sent on July 10, 2015 prohibiting agencies from imposing collection fees on borrowers who default on their loans but initiate payment arrangements within 60 days. The agency claims the letter amounts to capricious and irrational rulemaking that will harm consumers.

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FTC Schedules Additional Debt Collection “Dialogues,” In Dallas And Atlanta

The Federal Trade Commission announced Friday it will host two additional Debt Collection dialogues this fall, in Dallas and Atlanta. The first event was co-hosted in June with the New York Attorney General’s Office in Buffalo. Industry sources said that meeting was a bit of a disappointment, as it didn’t live up to its promise of being […]

Cell Phones

What Debt Collectors Really Need To Know About the FCC Order and the TCPA

The recent order issued by the FCC regarding the TCPA encompasses 138 pages (including hundreds of footnotes) and created an instant tidal wave of questions, comments and uncertainty about the use of telephone technology to contact consumers on mobile phones. After digesting the order, Moss & Barnett attorneys John Rossman and Mike Poncin share what you need to know.