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LEGAL EXPERTS PRAISE SCOTUS DECISION IN MIDLAND FDCPA CASE
- Lawyers praised the decision issued Monday by the Supreme Court of the United States ruling in favor of a debt buyer who was being sued for allegedly violating the Fair Debt Collection Practices Act. “What this decision does is provide a defense to businesses that have been filing bankruptcy claims on time-barred debts,” said Manny Newburger, one of the founders of the firm Barron & Newburger. The ruling “does not extend to litigation on time-barred debts. However, it opens the door to a possible defense in FDCPA claims that are based upon the filing of suits on stale debts.”
TRANSUNION DATA REVEALS THE LOANS THAT CONSUMERS PAY OFF FIRST
- When faced with deciding which debts to pay off first, consumers opt for personal loans over other types of debt, including auto loans, mortgages, and credit cards, according to data released this morning by TransUnion. TransUnion executives went as far as to say they were “surprised” by the results. Executives posited that the short-term duration of the loans is why consumers opt to pay them first.
ASTA FUNDING ANNOUNCES EARNINGS RE-STATEMENT
- Asta Funding, a debt buyer, has announced that it is re-stating its financial results for the quarter ending December 31, 2016. Along with purchasing debts, Asta also buys structured settlements and annuities and the company said it did account for an increase in the benchmark interest rates on those products. Doing so now affects their fair market value results in the company recording a net loss for the period of $1.5 million.
WORTH NOTING: The one thing job-seekers forget that employers will check … The one word that can defuse a fight with your partner … More people want President Trump impeached than those who do not, according to a new poll … Less than four months in and we’re already at President Trump’s “deepest crisis” … Airlines are making it harder for frequent flyers to get free seats … Inside training sessions from Walmart … Talk about thinking of everything: As part of its new corporate headquarters, Apple has patented a pizza box that employees can use to take food from the cafeteria to their desks without the pizza getting soggy … Don’t look for a good idea. Look for a good problem to solve … Four reasons people procrastinate and a cure for each reason … Tuna companies conspired to fix prices, according to a published report.
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