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Category Archives: Debt Collection
So says the American Banker here. In particular, the bill would apply to student debt owned or guaranteed by the government.
by Jeff Sovern I am working on a survey designed to determine consumer awareness of the Fair Debt Collection Practices Act validation notice. The plan is to show respondents a debt collection letter that includes a standard validation notice, and then ask questions to see how aware they are of the notice and how they […]
Here. Excerpt: The ominous letter from the prosecutor's office was addressed to her grandfather, Albert Lachowicz, but it came to Jennifer Paczan because she was handling his finances.* * * The letter was signed by Beaver County District Attorney Anthony J. Berosh, and was on the D.A.'s letterhead. It said Berosh's office had received reports […]
By guest blogger Peter A. Holland I have covered the NCLC's excellent proposal to ban the sale of time-barred debt here. The NCLC recommendations point to the larger problem that some banks sell off their worst, most unreliable, least collectible, most dubious accounts for literally pennies on the dollar (sometimes less), pursuant to broad disclaimers of […]
by Jeff Sovern I'm looking into survey evidence to establish or defend against a claimed violation of the Fair Debt Collection Practices Act for a possible article. If you have conducted such a survey in one of your cases or know someone who has, please email me at sovernj at stjohns dot edu. Thanks!
by Peter Holland In anticipation of the CFPB’s forthcoming study on forced arbitration in consumer contracts, we can expect lots of rhetoric from industry about how arbitration is more consumer friendly than litigation, and that it results in better outcomes (i.e. more money) for consumers. (If this were really so, then how could a company […]
Here (HT: Peter Holland).
by Jeff Sovern We've mentioned Jake Halpern's terrific book Bad Paper about the debt collection industry before (see here and here). I finally got around to listening to the audio version. If you teach debt collection law, it's a must-read to help you learn about the industry. If you practice in the area, you may already […]
by Jeff Sovern The press release is here. The rules themselves are here. Law360's Evan Weinberger reports here on whether they might become a model for the CFPB or other states. I am very curious to see how effective the new rules will be. They will surely help some consumers. Because the rules require disclosures, and […]