Blog Posts in June, 2011

Complaints about debt collectors are up

We came across this great ABC News video about debt collector tactics on YouTube. The video, in which ABC has assembled a collection of tapes of abusive and harassing telephone calls from consumers ...
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NYC.gov launches "Protect Your Money"

The New York City Department of Consumer Affairs has implemented a new program it is calling “Protect Your Money.” You may have seen it advertised on the front and back pages of ...
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Robosigning Nixes Bank of America's Summary Judgment Claim

Today we report on yet another case of robosigning, this time involving Bank of America. In a new decision from Nassau County (NY) Supreme Court, reported in today’s New York Law Journal, the ...
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JP Morgan Chase drops more than 1,000 collections cases

Interesting news from JP Morgan Chase on Friday (6/24/2011). The bank has dropped over a thousand debt collection lawsuits pending in five different states. According to an article in The Wall Street ...
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FTC Files Amicus Brief Objecting to Midland Settlement

We recently wrote in this space about a controversial proposed class action settlement in a federal case pending in Ohio against debt buyer Encore Capital Group and its collections unit Midland ...
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Court Rejects Chase's "Robo-Testimony"

We’ve heard a lot about “robo-signing” – the practice of debt collectors robotically signing off on hundreds, sometimes thousands, of boilerplate affidavits without verifying ...
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Attorneys General of 38 States object to Encore Settlement

U.S District Judge David Katz of the Northern District of Ohio is scheduled to review a hotly contested settlement plan in a case involving Midland Funding, a collection unit of debt buyer Encore ...
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Weak assignment documents continue to plague debt buyer lawsuits

Why do debt buyers face serious challenges when their ownership of the debt is disputed? It’s all about the assignment. In the law, an assignment is the transfer of legal rights by contract. In ...
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Top 15 reasons to consult a lawyer if you've been sued for debt

You need to protect yourself and your assets from a money judgment. You need to raise certain legal defenses before you waive them. You need to increase your bargaining position. You need the option ...
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Midland Funding, LLC criticised by Minnesota Attorney General

Lori Swanson, activist Minnesota State Attorney General and staunch supporter of consumer rights, has contributed an article to Minnesota newspaper The Journal. Titled "Debt buying industry has ...
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Debt Collectors Want Changes to FDCPA

In July, the Consumer Financial Protection Bureau (“CFPB”), the new agency created by the Obama administration, will take over regulation and supervision of debt collectors. Formerly, the ...
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New report finds "only" 6 million errors on credit reports

A report published in May seems to indicate that there are not as many errors on credit reports as previous studies have shown. The credit reporting industry has been trumpeting the results – ...
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"May or may not" language in collection letter violates FDCPA, court ssays

In this new decision from the EDNY, the plaintiff, a consumer named William Rozier, filed suit on behalf of himself and others similarly situated against debt collector Financial Recovery Systems ...
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Debt Collectors Have Feelings Too. No, Really.

The debt collection industry thinks it has an image problem. Almost anyone who has had dealings with a debt collector (and chances are, if you are on this page you have), knows that the problems of ...
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