Blog Posts in April, 2015

New York Debt Collector Court Rule Is A Game Changer - For Everyone

Third-party debt collectors, also known as debt buyers and zombie creditors (for really old debts) have had to do little in the past to prove that a debt was yours, you owed it, and that it wasn't ...
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Identity Theft and Debt Collection Remain Highest Source of Consumer Complaints

The Federal Trade Commission reported the top consumer complaints as Identity theft and with debt collection a close second. You can see that report here. The Consumer Financial Bureau Annual Report ...
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Fed Study: Student Loan Delinquencies Higher than Previously Reported

An article [1] in today's Wall Street Journal exposes a worrisome statistic: 31.5% of Americans encumbered by student loans are at least one month behind on payment. [2] That's a higher ...
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Asset Acceptance Found Liable under FDCPA for Improperly Collecting Pre-judgment Interest

A hot issue in debt-collection litigation is whether debt buyers can charge pre-judgment interest. The answer depends upon the facts of your case, but it seems difficult for debt buyers to argue that ...
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NY Consumer Permitted to sue LR Credit 22 after Settling Case

Consumers often settle debt-buyer lawsuits without a full understanding of their rights. Often, the settlement agreement contains overbroad release language promising not to sue the debt buyer or its ...
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Credit-Card Interest: The Average Daily Balance Method

Banks use the "Average Daily Balance Method" to calculate monthly interest. Your monthly average debt amount is multiplied by the APR (Annual Percentage Rate) to arrive at your new balance. ...
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The Langel Firm Compels United Guaranty's Discontinuance of $37K Student Loan Case

United Guaranty Commercial Insurance Company of North Carolina faced stiff opposition when it sued a valued client of ours. Immediately, we challenged the capacity of this corporate entity, its right ...
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