Senate Moves to Severely Restrict Payday Loans

Consumer rights advocates have long assailed payday loans and consumer rights attorneys tell horrible stories of clients ensnared in the web of payday loans.  When consumers fail to repay, they are frequently harassed and threatened with nonexistent “bad check” criminal charges or the scary sounding... [read more] Senate Moves to Severely Restrict Payday Loans

Annuities Are Partially Protected Against Creditor Garnishment in New Jersey

 Sometimes a New Jersey consumer may give a sum of money to an insurance company or other entity in exchange for a promised stream of income usually paid monthly (an annuity contract).  Other times, an insurance company is given a sum of money on behalf of a consumer to compensate for a personal injury.  In any event, a consumer receiving annuity payments may be... Read More... Annuities Are Partially Protected Against Creditor Garnishment in New Jersey

Lingering Economic Malaise Means Expansion for PRA

Portfolio Recovery Associates LLC, a subsidiary of the publicly-traded Portfolio Recovery Associates, Inc., is a debt collection agency that trades in the junk debt markets.  It purchases old, defaulted consumer debts from credit card companies, car finance companies, and others often for just pennies on the dollar.  It is a competitor of Asset Acceptance, LLC, Midland Funding, LLC, NCO Financial Systems, Inc., and LVNV Funding, LLC all of whom... Read More... Lingering Economic Malaise Means Expansion for PRA

Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

Collecting on behalf of the junk debt buyer, World Financial Network, Asset Acceptance called and wrote the consumer seeking repayment of an alleged debt.  The court found as undisputed that Asset Acceptance recorded a voicemail for the consumer calling her a “fat motherfucker” while trying to... Read More... Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

Consumer Federation of America Publishes Report Concerning Fraud and Debt Collection Abuses

Consumer Federation of America found the data obtained from the survey particularly relevant because consumer protection “agencies work at the grassroots level, providing consumers and businesses with information about their rights and responsibilities and advice about how to resolve disputes.”  The majority of consumer protection agencies take a hands-on approach to consumer complaints and will mediate disputes.  Moreover, the agencies generally have... Read More... Consumer Federation of America Publishes Report Concerning Fraud and Debt Collection Abuses

Government Accuses National Credit Adjusters of Collecting Usurious and Invalid Payday Loans

In trying to shut down the collection of payday loans by National Credit Adjusters, Arkansas Attorne General Dustin McDaniel asked a state court for an injunction that will restrain National Credit Adjusters from collecting its payday loans.  He also is seeking a court order that will nullify any usurious payday loans in the possession of National Credit Adjusters.  In addition to civil penalties and the costs of suit... Read More... Government Accuses National Credit Adjusters of Collecting Usurious and Invalid Payday Loans

FDCPA Court Permits Consumer to Admit Into Evidence a Settlement Payment to End a Time-Barred Collection Suit Against Stock & Grimes

 In her FDCPA lawsuit against Stock & Grimes, the consumer claimed that the defendant owed her the settlement payment she paid to Discover Bank.  She alleged that had Stock & Grimes not sued her on the time-barred debt in the first instance, she would not have had to pay a... Read More... FDCPA Court Permits Consumer to Admit Into Evidence a Settlement Payment to End a Time-Barred Collection Suit Against Stock & Grimes

Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

 The facts as alleged by the consumer are very egregious.  It’s not all that often a debt collector in 2010 (when the voicemail was recorded) will be so brazen to actually record a voicemail calling a consumer a “fat motherfucker.”  But, when debt collection companies like Asset Acceptance permit cultures of greed and abuse to permeate their collection floors, it’s no wonder these facts are alleged to have happened.  Moreover, Asset Acceptance’s craven attempt to... Read More... Asset Acceptance Calls a Consumer a Fat Motherfucker While Trying to Collect Debt NJ Plaintiff Says

In Introducing EDCAA, the Senate’s Funnyman Al Franken Sees No Humor in Debt Collection Abuses

 Sen. Franken’s “End Debt Collector Abuse Act of 2012” (EDCAA), bill no. S.3350, was introduced on June 27, 2012, and referred to the Committee on Banking, Housing, and Urban Affairs for committee consideration.  If passed into law... Read More... In Introducing EDCAA, the Senate’s Funnyman Al Franken Sees No Humor in Debt Collection Abuses

Junk Debt Buyer LVNV Funding LLC Busted to the Tune of $12.5 Million Dollars to Resolve Alleged Violations

LVNV Funding LLC is a junk debt buyer, aptly named, because its business model is built entirely around gambling.  The losers of its gambling, however, are flesh-and-blood consumers, not faceless casinos in Las Vegas, Nevada.  Junk debt buyers buy old, defaulted consumer debts for pennies on the dollar and then try to collect the full amount of the defaulted debt.  Most junk debt buyers like LVNV Funding... Read More Junk Debt Buyer LVNV Funding LLC Busted to the Tune of $12.5 Million Dollars to Resolve Alleged Violations