New York State just took a major step in protecting consumer rights in credit card collection cases. The state recently updated its requirements for debt collectors when filing credit card collection cases against debtors, aiming to put a stop to default judgments and unfair claims. A default judgment is legally binding, decided when the debtor…
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Are you being contacted by phone and mail about a debt that you owe but haven’t paid or can’t pay? Maybe you are being called about somebody else’s debt? Does it seem like your phone won’t stop ringing or that you are threatened that calls will continue until you have cash to pay? Do you…
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A resident of West Philadelphia is alleging that a debt collector has engaged in unlawful practices. Kimmel & Silverman, P.C. has filed a complaint against national debt collection company Virtuoso Sourcing, Inc., on behalf of Crystal Monroe. The lawsuit was filed on May 21 in United States District Court, Eastern District of Pennsylvania. The complaint…
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The Massachusetts Office of Consumer Affairs and Business Regulation and the Division of Banks announced a series of cease orders targeting unlicensed lenders and a licensed debt collector that were not adhering to the state’s loan consumer protections. These loans are illegal under the Massachusetts small-loan statute because they include excessively high interest rates and…
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After allegedly misleading consumers into paying unnecessary fees and falsely threatening consumers with lawsuits, defendants in a debt collection operation have agreed to settle Federal Trade Commission charges. The FTC alleged in its complaint that the defendants – a debt buyer and a debt collection law firm, both based in Mississippi – violated the FTC…
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Action News Reports Palisades Collections Waged War on United States Military Veteran with Impeccable Credit Score CreditLaw.com attorney, Amy Bennecoff, sat down with Action News’ Nydia Han to talk about the case of Frank Stack v. Palisades Collections, warning viewers about the deceptive practices of the New Jersey-based debt collector and advising consumers of their…
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A division of Sallie Mae, Arrow Financial is a receivables management firm. As such, part of its business functions includes debt collection. Arrow collects on behalf of the utilities, student loans, telecommunications, credit card and auto deficiencies industries. Headquartered in Niles, Illinois, the collector also has locations in Rockville Center, New York; Whitewater, Wisconsin; and…
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Unmanageable debt has become a way of life for a majority of Americans. Even as our government struggles to survive its own massive deficits, it is not surprising that we as individuals often have difficulty meeting our credit card payments, mortgages and car loans, especially when interest rates and bank fees are designed to keep…
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Regardless of what kind of medium debt collectors use to reach consumers, they are prohibited from revealing information to third parties and cannot make false, deceptive, misleading or harassing representations.
From Fox & Friends–Debt collectors are doing all they can to find you, even searching Facebook. A must-see.