Here. In the Maryland Bar Journal. And here is the abstract: This article examines current trends in debt buyer litigation, including a review of recent regulatory actions and the impact of debt buyer lawsuits on individual consumers and on small claims courts. The article calls for a ban on the sale of consumer junk debt […]
Category Archives: Debt Collection
Here. (HT: Peter Holland)
by Jeff Sovern Yesterday the Supreme Court decided the Sheriff case. One oddity about the case has to do with whether immaterial misrepresentations give rise to liability under the FDCPA. Several circuits have held that misrepresentations have to be material to generate FDCPA liability. See, e.g., Donohue v. Quick Collect, Inc., 562 F.3d 1027 (9th […]
Here. SCOTUSBlog coverage by Ronald Mann here. And for more commentary on Spokeo, see Paul Bland's thoughts here.
The vote was supposedly to take place on May 4–two days ago–but I can't find a record of it on the FCC web site. (HT: Norm Silber).
Here. Here is the Executive Summary: Debt buyers, specialized debt-collection companies, purchase defaulted consumer debt from creditors such as credit card companies for pennies on the dollar. Debt buyers then attempt to collect the debt, often by suing borrowers in court. Unfortunately, because debts are typically sold to debt buyers without fully verifying the accuracy […]
In a speech February 25 at the CFPB's Consumer Advisory Board meeting, CFPB Director Richard Cordray identified nine "key areas where we hope to make substantial progress over the next two years." He also noted, however, that "these goals do not capture all of the important work we are doing." The nine goals are: First, […]
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 […]