Why Occupy's Plan To Cancel Consumer Debts Is Brilliant - Business Insider

Why Occupy's Plan To Cancel Consumer Debts Is Brilliant - Business Insider:

Co.Exist

Why Occupy's Plan To Cancel Consumer Debts Is Brilliant Business Insider Called the Rolling Jubilee, it is a plan to use money from donations to buy distressed consumer debt from lenders at a marked down price, just as debt collection agencies normally would. But instead of hounding debtors for payments, it will simply ...

Fake Courtroom Debt Collector Ordered to Pay $522,780

Fake Courtroom Debt Collector Ordered to Pay $522,780: The former head of a collection agency that used a fake courtroom to trick some debtors into paying has been ordered to pay more than $500,000 in fines and legal fees. The judgment comes after the defendant in the case won the right to appeal the case, but opted not to offer a defense.

Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

The facts as alleged by the consumer are very egregious.  It’s not all that often a debt collector in 2010 (when the voicemail was recorded) will be so brazen to actually record a voicemail calling a consumer a “fat motherfucker.”  But, when debt collection companies like Asset Acceptance permit cultures of greed and abuse to permeate their collection floors, it’s no wonder these facts are alleged to have happened.  Moreover, Asset Acceptance’s craven attempt to... Read More... Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

Consumer Federation of America Publishes Report Concerning Fraud and Debt Collection Abuses

Alarmed, the report detailed a relatively new form of debt collection scam.  Fake payday lending sites promising easy money are created for the sole purpose of capturing sensitive financial data.  Consumers, already in the dumps if they are considering payday loans, provide their information hoping to receive lending approval.  Rather than get money in their accounts from a payday loan, the reverse happens.  The fake payday lender steals money from the bank accounts the consumer unwittingly provided.  To really bring this fraud home... Read More... Consumer Federation of America Publishes Report Concerning Fraud and Debt Collection Abuses

Government Accuses National Credit Adjusters of Collecting Usurious and Invalid Payday Loans

National Credit Adjusters, LLC is a national “debt clearinghouse” that purchases defaulted payday loans.  Grabbing payday loans from all over the nation, National Credit Adjusters attempts to collect them in the respective states.  The payday loans associated with Arkansan consumers contain usurious... Read More... Government Accuses National Credit Adjusters of Collecting Usurious and Invalid Payday Loans

FDCPA Court Permits Consumer to Admit Into Evidence a Settlement Payment to End a Time-Barred Collection Suit Against Stock & Grimes

Hamid v. Stock & Grimes, LLP stands for very important propositions in FDCPA law and explores the... Read More... FDCPA Court Permits Consumer to Admit Into Evidence a Settlement Payment to End a Time-Barred Collection Suit Against Stock & Grimes

Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

Collecting on behalf of the junk debt buyer, World Financial Network, Asset Acceptance called and wrote the consumer seeking repayment of an alleged debt.  The court found as undisputed that Asset Acceptance recorded a voicemail for the consumer calling her... Read More... Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

In Introducing EDCAA, the Senate’s Funnyman Al Franken Sees No Humor in Debt Collection Abuses

EDCAA will forbid a debt collector from seeking “a warrant for the arrest of a debtor or any other similar request that a debt collector knows or should know would lead to the issuance of an arrest warrant…”  However... Read More... In Introducing EDCAA, the Senate’s Funnyman Al Franken Sees No Humor in Debt Collection Abuses

Junk Debt Buyer LVNV Funding LLC Busted to the Tune of $12.5 Million Dollars to Resolve Alleged Violations

$12.5 million dollars is the value of LVNV Funding and Resurgent Capital’s concessions to end the Licensing Board’s right to engage in administrative hearings in which evidence could be made public.  In a July 2012 Licensing Board Press Release, it was noted that LVNV Funding and Resurgent Capital “cooperated” with the Licensing Board and that they denied any liability and wrongdoing... Read More... Junk Debt Buyer LVNV Funding LLC Busted to the Tune of $12.5 Million Dollars to Resolve Alleged Violations

Federal Appeals Court Upholds Finding that Midland Funding Violated the FDCPA

The FDCPA states that debt collectors must act fairly when attempting to collect consumer debts.  A provision in the FDCPA has been interpreted to mean that neither debt collectors like Midland Funding nor their collection attorneys like Pressler & Pressler can... Read More... Federal Appeals Court Upholds Finding that Midland Funding Violated the FDCPA

Consumer Wins Spectacular Victory Against Debt Collector Stock & Grimes

Stock & Grimes filed a debt collection lawsuit 3 years after the consumer defaulted but before Pennsylvania’s 4 year statute of limitations expired. The consumer defended claiming that Delaware’s 3 year statute of limitations should apply because Discover Bank experienced the harm of the consumer’s default in Delaware where it can be found and located... Read More... Consumer Wins Spectacular Victory Against Debt Collector Stock & Grimes

Removing Inaccurate Information from Your Credit Reports

Www.AnnualCreditReport.com is the only aggregated resource currently authorized by the Federal Trade Commission to provide your truly-free credit reports from Experian, Equifax, and TransUnion.  You are entitled to free credit reports per year from each of the credit reporting agencies, and you may request additional free credit reports if you are dealing with identity theft issues, recent unemployment, and for other reasons. Although you do not have to request all three credit reports at once (e.g., you can stagger your requests over a year), it is best to start off with all three to determine a baseline.  After determining any inaccuracies, you can then stagger future requests over a year.  One strategy is to... Read More... Removing Inaccurate Information from Your Credit Reports

Repairing the Damages Caused by Identity Theft

Victims of identity theft also have the right to ask that information resulting from identity theft be removed and blocked from their credit report files. The FCRA also obligates credit reporting agencies and furnishers of information to investigate and remove inaccurate data including data resulting from an identity theft. Despite the rights guaranteed under the FCRA, however, legitimate investigations and the resulting corrections to the victim’s credit report have been difficult in the absence of attorney assistance. Testimony from several identity theft trials has shown that these investigations were often limited to two minutes each and consisted of nothing more than checking the agency’s information against the furnisher’s report. According to the “Aftermath” report, 70 percent of victims have difficulty removing information that resulted from identity theft transactions. The credit reporting agencies have demonstrated that they will do as little as possible unless forced to act further—often only after... Read More... Repairing the Damages Caused by Identity Theft

Consumer Complaints against Debt Collectors at All-Time High

The US Federal Trade Commission (FTC) recently published its annual report on the Fair Debt Collection Practices Act (FDCPA). In this report, the FTC alarmingly highlights a sharp increase in consumer complaints about debt collectors. In 2010, consumers lodged 140,036 complaints against debt collectors; these claims of abuse now account for 27 percent of all those filed with the FTC. These numbers are up from 2009, when 119,609 complaints were filed. In fact, complaints about abusive debt collectors outnumber all other categories of consumer complaints. Debt collectors are increasingly relying on illegal tactics to pressure and intimidate debtors the FTC says, likely due to competitive market factors. Many debtors unfortunately do not realize that debt collectors are strictly prohibited from engaging in abusive, fair, and/or deceptive measures during collection. Sadly, even more complaints are believed to... Read More... Consumer Complaints against Debt Collectors at All-Time High

What Are the Differences Between Chapter 7 and Chapter 13 Bankruptcy?

There are now various different forms of bankruptcy designed to be used in a variety of situations. These different forms of bankruptcy are referred to as “chapters” after different-numbered chapters found in the statutes of the bankruptcy laws. Some of the most frequently filed forms of bankruptcy include... Read More... What Are the Differences Between Chapter 7 and Chapter 13 Bankruptcy?

CACH LLC Buys Millions in Uncollectable Credit Card Debts

If CACH LLC has allegedly purchased the rights to one of your credit card debts, it may attempt to collect from you using traditional methods such as collection letters or telephone calls. If you fail to respond or do not comply with its imposed repayment terms, it will sue you in court to collect. CACH LLC hires law firms to sue with the hope that you will fail to respond (file an answer) to the summons and complaint. There is a hard-to-understand phenomenon in the consumer financial world, and that phenomenon is the en masse failure of consumers to respond to debt collection lawsuits.  In some studies, the failure to respond to debt collection lawsuits is as high as 95%. But, both CACH LLC and its law firms... Read More... CACH LLC Buys Millions in Uncollectable Credit Card Debts

Types of Debt That Can and Cannot Be Discharged in Chapter 7 Bankruptcy

There are incidents where you may not want to discharge all of your debts.  Common examples of a debtor wanting to keep a debt include a mortgage or a car loan.  In these circumstances, you may want to keep your home and/or your car.  To do so, you will need to reaffirm or re-promise... Read More... Types of Debt That Can and Cannot Be Discharged in Chapter 7 Bankruptcy

What is the Chapter 13 Repayment Plan?

When someone files for bankruptcy, a Repayment Plan must be filed within 15 days of the filing of the bankruptcy petition. The Repayment Plan provides for regular fixed payments to a bankruptcy trustee, who... Read more... What is the Chapter 13 Repayment Plan?

What is the Chapter 7 Bankruptcy Means Test, and How is the Test Applied?

A series of deductions is then subtracted from the debtor’s monthly income to determine disposable income.  These deductions include taxes, clothing, food, housing, transportation utilities, insurance, medical bills, reasonable recreation, charitable contributions, etc.  However... Read More... What is the Chapter 7 Bankruptcy Means Test, and How is the Test Applied?

How Can I Save My Financed or Leased Car in a Chapter 7 Consumer Bankruptcy?

Most consumers facing bankruptcy worry that they will lose the car. From losing the car, worries stretch to losing jobs, and being unable to care for their family. These fears are understandable, but usually are put to rest with a good...Read More... How Can I Save My Financed or Leased Car in a Chapter 7 Consumer Bankruptcy?

A Guide to the Bankruptcy Section 341 Meeting

Section 341 Meetings can be quite mysterious to the consumer contemplating bankruptcy. Click here for a great article explaining the 341 Meeting required in bankruptcies. A Guide to the Bankruptcy Section 341 Meeting.

How Does Bankruptcy Affect My Credit?

While filing bankruptcy has a negative impact on your credit reports, it can be the only viable solution left if you are in deep, irreconcilable financial trouble. Although bankruptcy should never be filed lightly, the considerations of credit reports should take a back seat to this extremely... Read More... How Does Bankruptcy Affect My Credit?

Debt Collectors Must Obey the FDCPA When Collecting Consumer Debt

As consumers find themselves in financial trouble, they could turn out to be the targets of abusive telephone contacts by persistent debt collectors. Most of these collectors frequently engage in other unethical strategies which are illegal. The Fair Debt Collection Practices Act (FDCPA) was approved in 1978 to shield consumers from harassing conduct by collectors.

The Federal Trade Commission (FTC) is required to enforce the FDCPA, but it is relaxed in its enforcement duties. Fortunately, when the FTC refuses to undertake its obligations, there are conditions among the FDCPA that permit private enforcement.

What Actions Are Banned because of the FDCPA?

The FDCPA forbids debt collectors from using illegal collection methods to collect consumer debts. This national statute declares that bill collectors are not allowed to:

• Phone consumers before 8 a.m. or after 9 p.m. home time
• Contact when a consumer has asked that a collector end all contacts
• Deceive consumers about the actual amount due on their balance
• Use threatening or obscene speech, such as racial slurs
• Threaten consumers with getting imprisoned and/or put in jail
• Pretend to be somebody else under the guise of obtaining personal data
• Advise someone about a consumer's loan, for example a boss, friend, neighbor, or other person without a need to know
• Disregard a documented request to validate the consumer debt or to stop all communication attempts
• Threaten to wreck credit reports if there is no reporting or no intent to report
• Communicate bogus claims that the debt collector is an agent of a law firm or officials
• Threaten to force paychecks seized or home taken away in the event that, actually, that threat may not be accomplished or the threat is not to be intended

Allegations need to be lodged through the FTC even though it is not going to respond to precise incidents registered. The FTC does, nevertheless, acquire stats concerning patterns to help it to figure out exactly where to allocate man power. Claims can also be registered with the state's consumer protection bureau and the appropriate consumer agency. These, too, cannot act on certain claims, but they do permit data to assist investigations.

How Do Collectors Break the FDCPA?

The most typical offenses that debt collection agencies employ contrary to consumers are the:

• Attempted communication with a consumer soon after writing a dispute letter
• Billing interest and extra fees where the consumer will not agree to pay in an first credit agreement
• Frequently calling the person past times or any time the debt collection agency has learned is undesirable to the consumer
• Phoning the consumer at an employer's telephone number after being advised that the business will not enable such messages
• Threatening to cause consumers to be arrested
• Pretending like the debt collector is from the sweepstakes, hospital or some other entity to acquire individual data via the consumer or other person
• Indicating or threatening to tell friends, family members, bosses, or other persons about the loans
• Declining to describe the balance as disputed to the creditor bureaus right after the consumer has sent a correction letter
• Contacting the debtor after a bankruptcy petition was filed

A lot of states force deadlines where a debt could be settled in court. If the collector will not file an action inside of that period of time, the bill collector will give up the right to sue. This standard is known as the statute of limitations and it changes by state laws. Once the time bar has expired, a debt collector cannot file an action about the arrears; however, it could endeavor to collect if the collector does not make use of judicial tactics.

Consumer Rights Attorneys Can Uphold the FDCPA

Consumers which have fallen behind on their repayments are shielded from being exposed to collection abuse. Consumers possess a right to be handled justly through the experience of consumer debt collection. Yet, collection agencies that disobey the FDCPA can be penalized to a maximum of $1,000 in a successful consumer litigation. This particular consequence is generally known as "statutory damages" and will ordinarily belong to the consumer. Statutory damages are intended to act as a deterrent against banned debt collection. There are many other remedies provided by the FDCPA like the payment of attorney's fees and expenses of litigation. These are created to permit consumers to retain experienced attorneys to accept their case without any of the hardship of significant attorney charges and expenses.

For those who have been the recipient of harassing telephone contacts or letters, you should speak to us at this time in order that we may assist by forcing an end to it. We are skilled in the area of fair debt collection practices, and we regularly file FDCPA legal actions against debt collectors alleged to disobey fair debt collection laws. Call us now at 610-616-5303 or visit us at Consumer Litigation Group or email us at Info@ConsumerLitigators.com.

Consumer Litigation Group Blog: Consumer Bankruptcy Provides a Fresh Start

Consumer Litigation Group Blog: Consumer Bankruptcy Provides a Fresh Start: Tough economic times have caused millions of American consumers to experience extreme financial problems and out-of-control debt. Consumer...

The Fair Credit Reporting Act Provides Important Consumer Protections at http://ping.fm/zkMGl

Midland Funding parent announced a final agreement to end litigation with the Texas AG's Office re collections. www.ConsumerLitigators.com