Scott Walker, Wisconsin Governor, has signed a Wisconsin Consumer Act amendment. Debt collection rules and requirements are made easier and more clarified. Changes to Debt Collection Laws According to Assembly Bill 117, debt collectors can provide less information to file a lawsuit. Importantly, only a final billing statement accurately reflects the amount owed. As for consumers, they’ll find it more...
It was recently announced that law firm, Linebarger Goggan Blair & Sampson, has been helping communities across the state of Texas collect an estimated $2.2 million in property taxes from Radio Shack. This once thriving electronics retailer has been slowly working its way through Chapter 11 bankruptcy proceedings. The $2.2 million is reportedly the full sum the retailer owed for...
Recent data, released by the U.S. Department of Education, has shown that the number of student loan accounts being sent to collection agencies has doubled. Even though the data shows the number of people enrolling in government student loan repayment plans is rising, the data still shows a huge jump in the number of people defaulting on their loans. In...
Victoria’s Secret, one of the world’s most successful lingerie retailers, is facing a class action lawsuit for violating the Telephone Consumer Protection Act. The lawsuit claims that the retailer sent one customer 97 text messages in a single month. Lead plaintiff Michael Hannegan, claims he signed up for “members-only” text alerts last May. The terms of agreement stated that members...
“Making money is art, and working is art, and good business is the best art.” – Andy Warhol A law firm based in Waltham, Massachusetts, has been collecting debts from Massachusetts consumers through unfair and deceptive practices for the last years. Attorney General Maura Healey has filed a lawsuit against the firm in Suffolk Superior Court. Healey Sues Waltham Law...
Is your small business behind on tax payments? Pretty soon you may get a call from a private debt collector instead of the IRS. A highway bill was released last week with a provision that forces the IRS to use certain private companies to collect taxes. This debt-collection provision is attached to a $305 billion, five-year highway bill. The Senate...
“If we desire respect for the law, we must first make the law respectable.” – Louis D. Brandeis On November 4, 2015, the Federal Trade Commission, an independent agency of the U.S. government, and other U.S. law enforcement officials announced the beginning of Operation Collection Protection. This is a coordinated federal-state enforcement initiative concerning deceptive and illegal or abusive debt...
California debtors who filed a class-action lawsuit against JPMorgan Chase for unfair collecting practices can rest a little easier tonight. The company has settled the dispute for $100 million US dollars. This suit was brought forth in 2013, and it is sending a huge message to others in the collections industry. While the majority in the industry are reputable, some...
The Consumer Financial Protection Bureau (CFPB) has ordered Westlake Services, LLC and Wilshire Consumer Credit, LLC, an auto finance company and its subsidiary, to pay $44 million in refunds and balance. The CFPB claims that the company tricked consumers by contacting them under false pretenses and using fake caller ID information. Representativea then threatened to refer borrower’s criminal investigation, and...
Today’s business market demands that merchants be able to provide credit card processing for customers. Unfortunately, high risk merchants have a hard time finding payment processors to handle their accounts. Most banks will outright reject high risk business applications. This reality seems backwards to high risk merchants as most provide critical services such as credit repair and debt collection. Now...
