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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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SoftVu to Launch Compliant Email Marketing and Text Messaging System at the Debt Buyers Conference in Las Vegas

Come see how we turned Marketing Automation into Collection Automation Overland Park, KS  – SoftVu, the leading provider of marketing CRM and email marketing automation solutions will introduce their email automation and text messaging platform designed for the accounts receivable management industry at the upcoming Debt Buyers Association Meeting in Las Vegas, NV.  Serving the […]

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CFPB Issues Seventh Monthly Complaint Report; Highlights Include Complaints on Debt Settlement and Credit Repair Companies

The Consumer Financial Protection Bureau (CFPB) released its latest monthly consumer complaint report on consumer complaints in December about financial services. The report highlights that complaints on debt collection were still the largest volume of complaints in December, 6410 of the 20,300 or (31%) of the total complaints. Debt collection, mortgage, and credit reporting complaints […]

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Judge Denies Class Action Certification in FDCPA Spanish Letter Case Against Portfolio Recovery Associates, LLC

Yesterday, a Federal Judge in Virginia denied a motion to certify a class action case against an arm of publicly traded debt buyer PRA Group (PRAA). The lawsuit was originally filed exactly one year earlier, on January 28, 2015. The case illustrates the challenges of attempting to be FDCPA compliant when dealing with consumers that do not speak English or for whom English is a second language.

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2nd Circuit Rules Bankruptcy Code Does Not Preclude FDCPA Suit in District Court

In Garfield v. Ocwen Loan Servicing, LLC, the Second Circuit Court of Appeals examined whether a debtor who has been discharged in a bankruptcy can sue in a district court under the FDCPA,as opposed to seeking relief in the bankruptcy court. The Court held that the Bankruptcy Code provision governing the discharge injunction, “does not explicitly create a cause of action for its violation, whereas the automatic stay provision provides such a remedy…”

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Bankruptcy Code Precludes FDCPA Claim for Filing POC on Time-Barred Debt, Fla. District Court Holds

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.

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ACA International Report: Third-Party Debt Collection Keeps Credit-Based Economy Thriving

WASHINGTON, District of Columbia – January 26, 2016 – Consumers, creditors, and the economy as a whole benefit from the existence of the professional debt collection industry, according to the newest white paper from ACA International, the association of credit and collection professionals. The white paper “The Role of Third-Party Debt Collection in the U.S. Economy” explores the industry’s role in the U.S. economy,focusing on how third-party debt collectors work in tandem with creditors and […]

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Class Certification Rejected in Alleged FDCPA/RICO Suit Against Sherman Financial Group

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.