Creditor Liability Under the FDCPA

In a recent opinion this month decided by the United States Court of Appeals for the Second Circuit, creditors may now be held liable under the Fair Debt Collection Practices Act (” FDCPA”) when hiring a collection agency to collect debt on its behalf.  In Vincent v. The Money Store (“Vincent”) F.3d, No. 11-4525-cv (2d […]
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What Makes Up Your Credit Score

Your FICO score is the most common credit score used to make decisions on whether or not you are considered financially responsible and worthy of extending credit to. Your credit score, specific to you, is made up of 5 components, each assigned a specific percentage.  Using the information contained in your credit report, FICO takes […]
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Consumer Laws You Should be Aware of

In a recent review conducted by the Consumer Financial Protection Bureau (“CFPB”), the agency in charge of protecting your financial welfare, it discovered that the biggest area of concern is that consumers nationwide are unaware of their rights and the numerous laws in existence that were enacted to protect them.  Below is a list of […]
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Recent Case Law Explains Increase in TCPA Claims

In a post last month I discussed how Fair Debt Collection Practices Act (“FDCPA”) suits have been on the decline over the past year while Telephone Consumer Protection Act (“TCPA”) claims have continued to grow and are up as much as 70% this year alone.  An obvious reason for this decline and increase is the environment we […]
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CFPB to Take Public Opinion Poll Prior to Amending the Existing FDCPA Rules

As the new year approaches the Consumer Financial Protection Bureau (“CFPB”), the agency in charge of consumer financial affairs, begins its discussion of necessary amendments to the Fair Debt Collection Practices Act (“FDCPA”).  The director of the agency stated it wants to hear what the agency needs to do to better protect consumer from the […]
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Seventh Circuit Confirms that FCRA Claims are to Remain Solely in Federal Court

The Fair Credit Reporting Act (“FCRA”) is the federal statute that protects consumers from the collection, dissemination, and use of consumer credit information.  If you have been the victim of conduct in violation of this statute you likely filed suit in federal court.  Despite the fact that most states have their own independent laws in […]
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Avoiding Debt Collection Scams

Collectors can be ruthless in their collection efforts, especially during this time of year.  As a consumer, it is our obligation not to give in to their scrupulous tactics and let them convince you into handing over a payment you may not even owe.  Collection scams are becoming more common than ever as more and […]
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Improving Your Credit Score

When it comes to a low credit score, understand you are not alone.  More than 30 million consumers nationwide have a credit score of 620 or less making it more than a little bit difficult to be approved for credit at a low interest rate.  Your credit score is the three-digit number calculated by using […]
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Communicating with a Debtor During Bankruptcy Proceeedings

In the recent decision of Simon v. FIA Card Services, N.A. (“Simon”), the Third Circuit tackled the much debated issue of whether communication with a debtor during bankruptcy proceedings is considered a violation of the Fair Debt Collection Practices Act (“FDCPA”).   In its opinion, the Third Circuit held that consumers are not barred from pursing […]
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FTC Orders a Stop to Collection of Phantom Payday Loans

Collection of phantom payday loans is recently becoming more of a common practice for collectors and the Federal Trade Commission (“FTC”) has investigated the scam and put a stop to a group of fictitious collection agencies this past week.  Debt collectors are hounding thousands of consumers nationwide for payday loan debts they don’t actually owe.  […]
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