70% of Debt Buyer Lawsuits Dismissed When Consumer Files Answer
A report issued by the Consumer Financial Protection Bureau (CFPB) found that a debt buyer dismissed 70% of its lawsuits when the consumer filed a written answer to the lawsuit.
As part of a debt collector examination, Supervision reviewed collection lawsuits initiated by the entity. Examiners found that in 70% of the cases, when the
Court Denies CitiBank Interest When Contract Lost
What happens when a bank cannot produce a copy of their credit card agreement during a lawsuit for an unpaid account balance? Well, that was exactly the situation when CitiBank sued Teresa Cooper in the Superior Court of Vermont, and that case typifies the current status of credit card lawsuits nationwide. Banks cannot seem to
Junk Debt Buyer Accused of Manufacturing Evidence
Minnesota Attorney General Lori Swanson has filed a lawsuit against a junk-debt buyer, Bradstreet & Associates, accusing that firm of charging an inflated interest of 22% on debts for overdrawn bank accounts that may only charge 6% interest under Minnesota law.
Companies have the right to collect legitimate debt. But they shouldn’t be charging peoeple
Credit Card Lawsuits: 3 Things You Must Do Now
If you have been sued by a credit card company or by a debt buyer such as Midland Funding, CACH LLC, LVNV Funding, Portfolio Recovery, Cavalry SPV, Asset Acceptance, Unifund CCR Partners or Encore Capital, you need to take immediate action. Here are three things you must immediately do to win the credit card lawsuit
Contracts? We Don’t Need No Stinking Contracts!
I sued you, you didn’t file an answer,
and you didn’t come to court.
What more do I need to prove?
–Remark made by an attorney for a junk-debt buyer.*
Junk debt is a debt that is sold by creditors at a deep discount with very little or no documentation of the original contract, no