JUDGE GRANTS MTD IN FDCPA CASE OVER ALLEGEDLY INSUFFICIENT VALIDATION INFORMATION
- There is no doubt that consumers are often confused by the information that is sent to them by debt collectors. It is the very reason why courts have instituted the least sophisticated consumer standard, a lens through which judges can determine whether even the village idiot would understand what is being shared with him or her. This might be the first case where a letter validating a debt, which included copies of the credit application and 12 months of credit card statements was mistaken for a collection letter, which led to the lawsuit in question.
HOW PANDEMIC AFFECTED DEBT BURDENS, STATE BY STATE AND COUNTY BY COUNTY
- Even though many collection agencies have reported higher-than-expected payment rates during the 18 months of the COVID-19 pandemic, the number of individuals with a debt in collection largely remained unchanged across the country, according to data released last week. The number of individuals with a debt in collection decreased in 31 states, but the decrease was more than 1% in only four states — Arizona, New Mexico, Rhode Island, and Wisconsin.
REPORT SHARES PREDICTIONS INTO CFPB’S AGENDA UNDER CHOPRA
- WWRD? What will Rohit do? That is the question on everyone’s mind as Rohit Chopra appears to be inching closer and closer to the Director’s office at the Consumer Financial Protection Bureau. For the accounts receivable management industry, the burning question is would he dare to anything to Regulation F, which is scheduled to go into effect on November 30, in just 74 short days? One published media report hypothesized that changes to the debt collection rule are expected by “many” if and when Chopra is confirmed by the Senate and takes over at the Bureau.
DOCTOR PLEADS GUILTY TO MULTI-MILLION FRAUD THAT INCLUDED SUING PATIENTS WITH UNPAID DEBTS
- It’s one thing to defraud healthcare insurers and Medicaid for millions of dollars, and to “loot” hundreds of thousands of dollars from banks under the Paycheck Protection Program, but did the guy have to initiate debt collection proceedings against the patients he was bilking, too? In for a penny, in for a pound, I guess, was the motto of Ameet Goyal, an ophthalmologist in New York, who pleaded guilty to healthcare and wire fraud and is now facing a very long prison term.
TRUEACCORD LAUNCHES RETAIN, A DIGITAL-FITST SOLUTION FOR EARLY-STAGE COLLECTIONS
- TrueAccord Corporation, which offers intelligent digital recovery and communication products and services, today launched Retain, a new, client-branded product that addresses early-stage collection challenges for lenders and other organizations with customers with past-due delinquent accounts.
WORTH NOTING: Why a 401(k) isn’t the wonderful savings tool you think it is … Jeopardy! has announced two hosts who will helm the show through the end of the year … The overlooked super powers of introverts in the workplace … How to win a bidding war … How to experience zero gravity without needing to go into space … Where rents are rising the most, and it’s not New York or San Francisco … Parents are at their breaking points over finding child care … Ten of the best television finales.
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Funny Friday
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