Case Information Allegations at a Glance Michael Jordan has filed a lawsuit against LVNV Funding LLC, alleging that the company violated federal and state laws through the use of misleading and unlawful debt collection tactics. According to the complaint, LVNV attempted to collect a time-barred debt stemming from a 2007 credit card account that had …
Case Information: Allegations at a Glance: The FTC alleges that Blackrock Services and its affiliates engaged in deceptive and abusive debt collection practices, including falsely representing debts, threatening legal action, and impersonating law firms. The scheme allegedly involved fraudulent claims that consumers owed money and would face lawsuits, wage garnishments, or credit score damage if …
Some companies love to sell debt validation as a miracle solution—but is it really? In this episode, Damon Day and I pull back the curtain on what debt validation actually is, what it doesn’t do, and why some sales pitches make it sound way better than it really is. If you’re considering debt validation to …
The Consumer Financial Protection Bureau (CFPB) has published the final rules that modify the Fair Debt Collection Practices Act. These rules amend Regulation F, 12 CFR part 1006, which implements the FDCPA. If you really want to take a deep dive into the changes, read CFPB Updates Fair Debt Collection Practices Act – What You …
The Consumer Financial Protection Bureau (CFPB) has issued its final rule to update the Fair Debt Collection Practices Act (FDCPA). The FDCPA provides the framework of rules that serve to protect consumers from abusive debt collection practices. [November 30,2020 – The final rules were published here.] The CFPB states the following important changes are part …
Question: Dear Steve, Loss of income, just need some relief. Once you enter the debt relief program, are creditors still allowed to contact you? Curtis Answer: Dear Curtis, While your question is missing a lot of detail and information, you raise a great question. The answer is not as easy as you would hope. I …
A proposed law has been introduced in Congress that would make it more likely debtors in collections will be sued. The bill is HR 4550 and would protect attorneys from the Fair Debt Collection Practices Act which regulates unfair, deceptive, illegal, and bad behavior by collectors. The proposed legislation states: “To amend the Fair Debt …
Question: Dear Steve, I had taken out a student loan to go hair styling school…I went from December 2013 to February 2014…I found that I did not like it and pursued something else. I paid $1,000 down to the school also took a student loan if needed….well in February when I found I did not …
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is taking action against two medical debt collection law firms and their president for falsely representing that letters and calls were from attorneys attempting to collect on a debt when no attorney had yet reviewed the account. The law firms also did not ensure the …
An Account From a Real-Life Collector I arrive at work with a long list of people to call, knowing that if all goes well, I may call 125 people today. Today, I’ll hear stories of businesses gone sour, failed marriages and terrible illnesses. I’ll hear outright lies: “The check’s in the mail,” or “The stamp …