Tag Archives: Debt buyer
- A Paper Worth Reading: Robo-Signing and Lack of Proof in Debt Buyer Cases
Here is a great research paper worth reading. It certainly helps to focus the robo-signing issues we’ve all heard about with mortgages to a problem that debt relief providers will need to deal with. For a while we’ve talked about the issue of a debt relief provider that either sets up a payment plan or [...]
- I’ve Already Been Sued by a Debt Buyer. Would It Make Sense to File Bankruptcy? – Joshua
“Dear Michael, When I was in college, I couldn’t find a job in the summer of 2008. I was unable to make any of the payments on my credit cards and my auto loan. I buried my head in the sand and ignored everything. The car got repossessed and the collection calls started with the [...]
- 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 [...]
- Credit Card Lawsuits Become Bigger Reality for Consumers
In recent days stories out of New Jersey and California have both reveled that lawsuits by credit card companies are on the rise. The New Jersey story, stated there has been a 25% increase in case filed between 2007 and 2010. In California the courts in Santa Cruz Superior Court are dealing with historically high [...]
- Courts Slammed With Automated Debt-Collection Lawsuits
It is not unusual for me to hear from people in the debt relief world, “Oh the creditor won’t want to sue the consumer, it costs the creditor money.” I chuckle inside when I hear that. It’s so not true. While that might be logical, logic and creditors have never walked hand-in-hand. Out of New [...]
- Phantom Debts Come Back to Life. It’s Alive!
The problem of zombie debts, that’s debts that come back to life, is well known. What is becoming more of a problem is what happens when an old debt has been sold, sold, and sold again. The current debt buyer can’t really prove they own the debt at all. In fact just recently we published [...]
- 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 [...]
- There’s Big Bucks in Bad Debts
For decades, credit-card companies and other firms would eventually give up after attempting to collect from deadbeat customers. Now, companies are packaging and selling many of those overdue accounts for pennies on the dollar to debt collectors. The collectors then aggressively pursue the debtors to repay, or they turn around and resell those same debts [...]