Collection Operation Facing FDCPA Class Action Over Excessive Fees
- One of the most unfair aspects of the Fair Debt Collection Practices Act is that it compels collection operations to be experts on laws and regulations that are completely outside the scope of collections. Take, for example, this lawsuit, in which a collection operation is facing class-action claims that it violated the FDCPA and California’s Rosenthal Fair Debt Collection Practices Act because it allegedly attempted to collect on vehicle storage fees that exceeded what the city of San Diego allows by law. On top of that, the details surrounding the events that led to the lawsuit being filed also strain the boundaries of credibility.
- More details here
- This series is sponsored by WebRecon
NJ Appeals Court: Waiting Three Years to Act Means Judgment Stands
- By no means am I attempting to make light of the consumer’s situation, but when judges note that the consumer “slept on her rights” it feels only natural to say, you snooze, you lose. A New Jersey Appeals Court has denied a consumer’s motion to vacate a default judgment, agreeing with the lower court that she waited too long and because proper procedure was followed.
- More details here
Report Finds Hospitals Could Expand Charity Care With Minimal Financial Impact
- A new analysis from Dollar For is challenging long-held assumptions about hospital financial assistance and its impact on provider finances. According to The Bottom Line: A Data-Driven Look at the Real Costs and Benefits of Hospital Financial Assistance, most hospitals could approve financial assistance for every eligible patient and see their net revenue fall by only 0.7% on average.
- More details here
Jefferson Capital Posts Record Quarter as Legal and Insolvency Strategies Pay Off
- Jefferson Capital reported a record third quarter that ticks nearly every box operators in the credit and collection space watch: stronger collections, higher deployments, rising ERC (estimated remaining collections), and lower leverage, all supported by a very efficient cost structure.
- More details here
WORTH NOTING: Could the funding crisis at the Consumer Financial Protection Bureau mean more problems for student loan borrowers? … Mortgage foreclosure rates are up 20% from last year, which is not a good sign … LinkedIn is deploying AI to help you find people faster … Objective research detailing why you should reply to comments on social media posts … A look at what some retailers have in store for Black Friday … Verizon is looking to cut about 15,000 jobs, which would be its largest workforce reduction ever … The Attorney General of California wants to remind everybody that including medical debt on credit reports is illegal in The Golden State … Wendy’s is planning on closing hundreds of its restaurants next year.
Funny Friday, part I
Funny Friday, part II
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