The Pew Charitable Trusts Friday released a report detailing fraudulent and abusive practices associated with payday loans offered online. The study found that many online borrowers report being threatened by lenders or debt collectors and that the vast majority of payday borrower complaints are about online loans.
The total number of debt collection complaints published by the CFPB in August fell by more than eight percent compared to July. But the percentage of complaints specifically claiming that the “debt is not mine” jumped from the previous two months. Complaints about medical debt also increased in the month.
A New Jersey man currently on trial for murdering his wife with a frying pan consistently referred to his wife as his ex-wife, in contrast to what he was telling her, and was deep in debt according to testimony provided yesterday by a debt collector who was working on the man’s account.
The Eleventh Circuit Court of Appeals yesterday unanimously reversed a lower court ruling in Mais v. Gulf Coast Collection Bureau, a case that was extremely controversial in the debt collection industry due to the district judge deliberately ignoring an FCC ruling regarding consent to call a cell phone. Monday’s decision and opinion is seen as a major victory for debt collectors.
insideARM.com today announced the winners of the seventh annual Best Places to Work in Collections. This award program is designed to identify, recognize, and honor the best places of employment in the accounts receivable management (ARM) industry, and was created and facilitated by insideARM.com and Best Companies Group. Best Places to Work in Collections 2014 is sponsored by Executive Alliance.
A federal judge last week certified a class action that accuses a mortgage services company of violating the FDCPA by leaving a message on a door hanger for a consumer to call a specific number. The note made no mention of the debt, although it was left specifically for that purpose.
On the heels of a June 30 decision finding that a New Jersey law firm violated the Fair Debt Collection Practices Act because its attorneys spent four seconds reviewing a pleading, a complaint seeking class certification has been filed against the same firm, citing findings of fact from the adverse court opinion.
The Federal Trade Commission Tuesday announced that it has won a court judgment and entered settlements with a scam debt collection agency and its owners that officially shutters and liquidates the business for good and permanently bars the owners and principals from working in debt collection ever again.
The Third Circuit Court of Appeals Monday denied a petition to rehear an FDCPA case that involved an account number being visible through the clear window of an envelope containing a debt collection letter.