Category Archives: Statute of Limitation
- What You Need to Know About Time Barred Debt the Statute of Limitations and Debt Collection
Photo Credit: Filin Ilia The Federal Trade Commission has released new information to help you better understand the issues surrounding Time Barred debt and debt expired under the Statute of Limitations. If you would like to learn more about specific state regulations you can use the free compliance module here. Understanding Your Rights When It [...]
- FTC and DOJ Announce Asset Acceptance Settlement Which They Want to Be Framework for Debt Collection Industry
David Vladeck director of the FTC’s Bureau of Consumer Protection and DOJ Assistant Attorney Tony West today conducted a conference call I attended to provide additional information regarding an announced settlement with collection company Asset Acceptance. In the settlement Asset Acceptance agreed to pay the second largest fine ever against a collection company for alleged [...]
- Free Debt Relief Industry Regulation and Legislation Tracking
I’m happy to announce today that both consumers and debt relief companies will now have FREE access to debt relief industry compliance, regulation, and legislation resources. This site module for the GetOutOfDebt.org site will give site visitors fee access to be better informed and educated about debt relief industry regulations. In this module you will [...]
- The Power of Debt Validation in Stopping the Robo-Signing Debt Collector
The following guest post was contributed by Michael Bovee of Consumer Recovery Network. If you would like to contribute a guest post, click here. In the wake of robo-signing scandals involving home foreclosures across the country come the reports of similar behavior by debt buyers who file court actions in order to collect on delinquent [...]
- Debt Buyer Gets Caught With Data Pants Down and Law Firm Loses Big Bucks to Consumer
A recent $311,000 judgment against a North Dakota law firm makes it apparent why the debt buyers have to be very careful when relying on the data supplied by the previous owners. Back in the 1990s a Montana man had a Chase credit card with a $3,000 balance. He became disabled and unable to repay [...]
- Collectors in NY, NM, WI, MS Forced to Tell Consumer if Debt Can Be Collected
The New York Times is reporting that more consumers will now be informed if old debts can be collected through the court or if they have passed the statute of limitations. Bill collectors in New Mexico will be soon required to inform borrowers they can’t be taken to court for long-overdue debts, changing the landscape [...]
- Most Debt Buyer Lawsuits Foiled By Inability To Prove Debt Owed
The Municipal Employees Legal Services of New York’s District Council 37 has seen an increasingly startling number of cases cross their desk over the past few years involving cases pertaining to debt buying lawsuits against consumers. Given that these sort of cases have doubled over the past 10 years, they took a special interest into [...]
- 2008 Farm Bill Leads to More Garnish, of Social Security Checks That Is.
A little-noticed law could soon result in smaller Social Security checks for hundreds of thousands of the elderly and disabled who owe the U.S. money from defaulted loans and other debts more than a decade old. Social Security benefits are off-limits to such creditors as credit-card issuers and banks. But the U.S. can collect debts [...]
- Statute of Limitations Talk at FTC. Tricks of Collecting on Out of SOL Debt Described.
On December 4, 2009 the Federal Trade Commission held a roundtable discussion, actually it was more of a big U) about protecting the consumer in debt collection litigation and arbitration. As they said, “These events examine consumer protection issues in debt collection proceedings against consumers.” If you are the least bit sleepy I don’t recommend [...]
- Statute of Limitations and Time-Barred Debts: State Information
“Time-barred” debts are debts so old they are beyond the point at which a creditor or debt collector may sue you to collect. This is often referred to as debts that are beyond the statute of limitations. State law varies as to when a creditor or debt collector may no longer sue to collect: in [...]