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Kansas City Woman Awarded $83 Million In Debt Collection Case
One of the largest debt buyers in the United States has been ordered to pay nearly $83 million in punitive damages to a Kansas City woman whom it had sued over a $1,000 credit card debt. Portfolio Recovery Associates LLC says it mistakenly...
Read MoreCFPB Takes Action, Fines Military Allotment Processor Millions
The CFPB (Consumer Financial Protection Bureau) has taken legal action against a military allotment processor who failed to clearly disclose a number of recurring fees to service members. The outcome? Roughly $3.1 million in relief that is to be paid out to affected service members....
Read MoreUS Dept of Education Ends Contracts with 5 Private Collection Agencies
In a recent press release, the United States Department of Education (DoED) announced that it is ending contracts with five private debt collectors. This news comes to us in the wake an internal review conducted by the DoED’s Federal Student Aid...
Read MoreFTC Files Complaints Against 4 Star Resolution, Vantage Point Services for FDCPA Violations
Two debt collectors, both headquartered in Buffalo, NY, have had complaints filed against them by the Federal Trade Commission according to a recent press release from the FTC. The FTC, along with the NY State Office of the Attorney General, is...
Read MoreCourt Allows Class Action Accusing Collector, Law Firm of ‘Sewer Service’
Reuters reports that, last month, over 100,000 potential plaintiffs were permitted to pursue a class action against a New York-based debt collector and law firm. The claim is that both Leucadia National Corp and the Mel S. Harris law firm were using...
Read MoreCFPB Called Upon to Toughen Payday Loan Standards
In a recent opinion piece for the New York Times, Executive Vice President and Director of Federal Policy at the Center for Responsible Lending, Gary Kalman, calls upon the Consumer Financial Protection Bureau (CFPB) to crack down on standards for payday...
Read MoreStopping “Robocalls” to Your Cellphone
Are you being harassed by robocalls? You may be entitled to as much as $500 to $1,500 per call. In a recent appearance on Eye Opener (PHL17), our own Craig T. Kimmel took a moment to discuss robocalls, how they affect...
Read MoreStudy Suggests Quantum Physics Can Eliminate Credit Card Fraud
Quantum physics may make future credit cards “impossible to hack,” say the authors of a recent study. As we all know, credit cards in their current state are prone to exploitation. This can cause major headaches for consumers hoping to...
Read MorePhantom Debt Collectors Haunt Latinos, Are Busted by FTC
Harassing debt collectors seeking payment for “phantom debt” are becoming more common, says the FTC. Thousands of Spanish-speaking consumers were targeted by debt collectors Centro Natural Corp. and Sumore LLC, who tricked them into paying over $2 million in phantom debts....
Read MoreABC News Reports Fake Debt Collectors Threaten Victims with Jail Time
Earlier today, ABC News reported that phony debt collectors are calling thousands of innocent people across the country, illegally threatening them with jail time and other legal action. If you follow the Credit Law Blog, you’re probably already aware that this is...
Read MoreIowa Man’s Overdue Debt Tripled by Debt Collector
Vietnam War veteran Dana Franks of Iowa is under pressure from an Omaha, Nebraska-based debt collection firm to pay over $15,000 for a $5,000 credit card debt from 2006. The debt stems from a Capital One credit card Franks used...
Read MoreSecond Circuit Reverses Ruling in TCPA ‘Express Prior Consent’ Case
When Albert Nigro contacted National Grid to end electrical service to his deceased mother-in-law’s New York home, he never expected to be bombarded with automated collection calls for someone else’s debt. So how does a man wind up in the...
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