Yesterday I published this article about proposed changes to pursing debtors in North Carolina over purchased debt. That would have been the story, done and dusted. But today I awoke to find InsideARM, an accounts receivable trade publication leveled some objections at my opinion piece. InsideARM said, “Rhode calls Lee’s bill, “idiotic,” and “ill-advised, ill-conceived …
North Carolina is trying to pass legislation which will roll back protections for consumers who have bad debt purchased by debt buyers. Senator Michael Lee from Wilmington, North Carolina is the sponsor of S.B. 511, titled Proof Required for Debt/Fees, which efforts to rollback the requirement the bad debt buyer must have detailed information about …
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 …
Another reinforcement to the unfortunate trend of negative signs that are impacting the demand for debt relief services has emerged. According to Collections & Credit Risk, bad debt buyers are finding it harder to purchase debt as the supply of bad debt shrinks. A more limited supply is driving up costs for debt buyers just …