“Fair Credit Dispute” Lawsuits Deluge Consumer Finance Industry: Three Strategies to Avoid Liability

Companies that report consumer accounts to the credit reporting agencies are experiencing an unprecedented increase in so-called “Fair Credit Dispute” lawsuits. These hybrid consumer claims typically assert violations of the Fair Debt Collection Practices Act (“FDCPA”) and/or the Fair Credit Reporting Act (“FCRA”) arising from a similar factual pattern (discussed below). Due to the sheer volume of new cases filed nationwide, this surge of Fair Credit Dispute litigation is being compared to the thousands of cases the credit and collection industry faced recently with both Telephone Consumer Protection Act lawsuits and Hunstein lawsuits.

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Spire Continues Community Outreach in Q3 With Veterans and Local School Support

LOCKPORT, N.Y. -- Spire Recovery Solutions, a respected and compliant collection agency headquartered in Lockport, NY, continued its community outreach efforts with another involved quarter focusing on veterans support and the local school district.

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SOL Accrues When Collection Suit Served, Says Court

The statute of limitations in collections cases is crucial but complex. This statement applies equally to lawsuits filed to collect debts and to suits brought by consumers who allege a violation of the Fair Debt Collection Practices Act (FDCPA). Recently, a court in the Southern District of Georgia held that the triggering date for the statute of limitations in an FDCPA action against a debt collector was the date a consumer was served with the debt collector’s underlying debt collection suit, not the date the suit was filed.

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NY Federal Court Denies Motion to Dismiss CFPB Lawsuit Against Debt Buyer Companies And Their Owners/Officers For Unlawful Debt Collection Practices Based On Third-Party Conduct

A New York federal district court has denied a motion to dismiss the lawsuit filed in January 2022 by the CFPB against three companies that purchase portfolios of defaulted debts (Corporate Defendants) and three individuals who are owners and/or officers of the Corporate Defendants (Individual Defendants).

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Revenue Group Hires Chris Taylor as New Chief Information Officer

CLEVELAND, Ohio -- Revenue Group welcomes Chris Taylor as its new Chief Information Officer. Chris spent the last eighteen years as the Director of Operations and Technology followed by the Controller and CIO at National Enterprise Systems (NES). Starting in IT, he progressed to become a dual professional in Financial Services and Information Technology, taking a special interest in debt collections.

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Arrears Unveils Innovative A.I. Summarizer, Elevating Collection Strategies and Business Insights

Arrears Inc., the leading name in AI-driven debt collection and account receivables solutions, proudly announces the launch of its cutting-edge A.I. Summarizer. This groundbreaking feature is engineered to empower collection agencies and businesses with instant information, bringing to focus key data that significantly enhances their ability to tailor effective strategies with pinpoint precision.

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Work Smarter, Not Harder - Keeping Tabs On Laws, Rules, and Regs (and keeping ops looped in)

25 October 2023 at 02:00 p.m.

Laws are constantly changing. State and Federal Regulators continue to pass new rules, and already established laws continue to get clarified through the court systems. Legal compliance is never static; it is always dynamic. In the ARM industry, legal changes filter through and affect every part of an organization. Staying on top of these changes and ensuring all relevant parties within an organization get updates can seem like a never-ending task.

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