|
|
|
|
 |
|
|
This section of our website provides you with a vast amount of Governmental Regulation (Compliance), Judicial (Case Law) and State and Local research information concerning the debt
|
|
|
purchasing, debt servicing and debt selling industry and changes that are in process or that are in place.
|
|
|
|
|
|
The Convoke Systems Platform solves many of the complex issues related to safeguarding documents and consumer information, tracking chain of title, and what is needed to support judicial evidentiary requirements.
|
|
|
|
US Court of Appeals reverses Bankruptcy Appellate Panel Decision to allow a creditor claim because the creditor failed to include supporting documentation for its proof-of-claim, as required under Rule 3001 of the Federal Rules of Bankruptcy Procedure. Read more.
|
|
|
The Federal Trade Commission has ordered the nation’s largest consumer debt buyers to turn over information about their practices in buying and collecting consumer debt, which the FTC intends to use for a study of the debt-buying industry. Consumers have reported that debt collectors frequently try to collect from the wrong consumers or the wrong amounts, or both. The FTC is seeking information to determine whether buyers of consumer debt are contributing to these problems. Read more.
|
|
|
|
GAO recommends changes to FDCPA in September 2009 report Congress should consider modifying FDCPA to (1) help ensure that collectors and buyers have adequate information about debt transferred and have adequate documentation to verify debts, (2) reflect technologies that were not prevalent when the act was written, and (3) provide FTC with rulemaking authority. Download the Full Report, Overview, or Inside ARM Article or Analysis.
|
|
|
|
North Carolina governor Perdue signs beefed up consumer protection The state law also will require debt collectors to provide documents proving they own the accounts they're trying to collect. Taking a debtor to court will require records including the original account number of the debt, the name of the original creditor, and an itemization of charges and fees the current creditor claims is owed.
|
|
|
|
New York Assembly proposes a new bill to amend the civil practice law and rules, in relation to consumer credit transactions This bill would require that the complaint in consumer credit actions provide the name of the original creditor, the last four digits of the original account number, the date and amount of the last payment, a chain of title of the account, and a breakdown of the amount that the plaintiff seeks to collect
|
|
|
|
|
|
North Carolina Senate bill passed to require valid documentation including proof-of-ownership Complaint of a debt buyer plaintiff must be accompanied by certain materials, incudlng a copy of the assignment or other writing establishing that the plaintiff is the owner of the debt. If the debt has been assigned more than once, then each assignment or other writing evidencing transfer of ownership must be attached to establish an unbroken chain of ownership.
|
|
|
New York City Local Law 660-A - Debt Collection Agency Code Change "...such agency furnishes such consumer written documentation identifying the creditor who originated the debt and itemizing the principal balance of the debt that remains or is alleged to remain due..."
|
|
|
|
FTC Collecting Consumer Debts, The Challenges of Change, A Workshop Report: February 2009 In late 2007, the Federal Trade Commission (“FTC” or “Commission”) convened a public workshop to evaluate the need for changes in the debt collection system, including the Fair Debt Collection Practices Act (“FDCPA”), to protect consumers better. This report communicates the results of those meetings.
|
|
|
|
Bear Stearns and EMC Mortgage to Pay $28 Million to Settle FTC Charges Bear Stearns Co Inc and its EMC Mortgage Corp unit have agreed to pay $28 million to settle allegations including misrepresenting how much borrowers owed, according to the U.S. Federal Trade Commission.
|
|
|
|
Rule 10.9 of the Circuit Court of Cook County, Chicago, IL: Actions to Enforce Credit Card Contracts in the Municipal Department Debt Buyers. Any complaint filed by an assignee of a creditor under an open-end credit plan (or the assignee of a prior assignee of the original creditor) shall contain all of the above information, and in addition the following: Legally-sufficient documentation for each transfer or assignment of the account, including documents identifying the specific account (i.e., actual assignment documents showing that the account was included in the pool or portfolio of accounts assigned
|
|
|
|
New Jersey – State Assembly Bill 3839 Verification of the debt or a copy of the judgment against the debtor is going to be required when contacting the debtor.
|
|
|
|
Strengthening Consumer Protection “promoting concise and clear information for consumers; and protecting consumers from unfair and deceptive practices.”
|
|
|
|
General Assembly of North Carolina House Bill 1059 "...documents evidencing that the assignee or debt buyer owns the obligation to collect such fees, must be provided to the court before a court may enforce those provisions."
|
|
|
|
West Virginia Attorney General McGraw Obtains Cancellation of $6.6 Million in Credit Card Debt for 1,451 WV Consumers One of the major reasons for the debt cancelation was that debt collectors rarely obtains any proof of the debt that would be admissible as evidence in a court.
|
|
|
|
Oregon Senate and House Pass Consumer Protection Bill “This bill is a long overdue remedy for consumers harmed by unscrupulous debt collection practices...”
|
|
|
|
Ralph Coppla v. Arrow Financial Services, LLC This case validates why media access is important. Defendant objected and refused to respond to eight interrogatories and seven requests for production, which are the subject of the present motion to compel. “Parties may obtain discovery regarding any matter, not privileged, that is relevant to the claim or defense of any party . . . . Relevant information need not be admissible at the trial if the discovery appears reasonably calculated to lead to the discovery of admissible evidence.”
|
|
|
|
Nationwide Debt Collector Will Pay $1.3 Million to Settle FTC Charges A Texas-based debt collection company will pay more than $1.3 million to settle Federal Trade Commission charges that it misled, threatened, and harassed consumers in violation of federal law.
|
|
|
|
Herbert Delawder v Platinum Financial Services Corporation Delawder alleges that Defendants violated the FDCPA and the OCSPA by filing the Ironton complaint, and attaching a false affidavit to the complaint, all the while knowing that they did not have means of proving the debt.
|
|
|
|
Jodi Fields v Wilber Law Firm, P.C. We conclude that Fields has made allegations sufficient to state a claim under § 1692e and § 1692f and a dismissal pursuant to Federal Rule of Civil Procedure 12(b)(6) was inappropriate because the letters could conceivably mislead an unsophisticated consumer.
|
|
|
|
Ohio Claim Loss Due to lack of media documentation to prove claim
“…all the while knowing that they did not have means of proving the debt”.
|
|
|
|
