The Third Circuit Court of Appeals has affirmed a lower court’s ruling in favor of a defendant that was sued by a debt buyer for failing to provide the proper information for accounts that were purchased by the buyer because it did not send its emails to the address noted …
Read More »2021 Officers & Directors Elected to Lead Receivables Management Association International
February 11, 2021 (Sacramento, CA) – Members of Receivables Management Association International (RMAI) elected Officers and Directors to its Board for 2021. Due to the pandemic which created so much uncertainty and program cancellation, all 2020 officers will be serving in their same positions for 2021. Of the ten-member Board, nine …
Read More »Report Analyzes Impact of Debt Buying Law on Lawsuits in California
The Center for Responsible Lending — a consumer advocacy group — has released a report that analyzes the impact of a state debt buying law that was enacted in California in 2013 on the number of debt collection lawsuits filed against consumers in the years since the law went into …
Read More »NY Lawmakers Propose Bill Banning Sale of Delinquent NYC Debts
Lawmakers in the New York legislature are trying to get a bill passed that would prohibit the city of New York from selling a portfolio of unpaid debts, which is scheduled to occur as soon as next week, until a year after Gov. Andrew Cuomo declares the state of emergency …
Read More »Virginia Issues Final Debt Buying Apportionment Guidance
The Virginia Department of Taxation has released its final guidelines related to debt buyer apportionment, which requires debt buyers, regardless of where they are based, to apportion their income from the collection of debt to Virginia based on a single sales factor. The new guidelines go into effect on February …
Read More »Fraudster Facing 40 Years in Prison After Pleading Guilty in $400 Million Debt Buying Ponzi Scheme
A Maryland man indicted last year on charges of running a debt buying Ponzi scheme has agreed to plead guilty to those charges as well as one that he attempted to obstruct justice after he was arrested and is facing 40 years in prison. Kevin Merrill, who, along with Jay …
Read More »Proposed Settlement Reached in Midland Funding Interest Rate Suit
A legal battle that has lasted nearly eight years and has gone up and down the legal ladder appears to be one step closer to ending, with both sides agreeing to a settlement that is awaiting approval from a District Court judge in New York. Under the terms of the …
Read More »Proposed Bill in Texas Would Set Timeframe on Starting Legal Action, Require Debt Buyers to Make Additional Disclosures
Eric Rosenkoetter from Maurice Wutscher is the first to alert the industry to another new proposed state law, this time in Texas. This time, the newly introduced bill — the Fair Consumer Debt Collection Act — is intended to limit the period of time in which a debt buyer may …
Read More »Virginia Tax Dept. Issues Guidance To Help Debt Buyers Comply With New Law
The Virginia Department of Taxation has released draft guidance to help debt buyers comply with a new law related to how they apportion their income to the state. The state’s legislature passed a new law last year that requires debt buyers, regardless of where they are based, to apportion their …
Read More »Ohio County Set to Sell $12M in Unpaid Property Tax Liens
Cuyahoga County, Ohio is set to sell up to $12 million of unpaid property tax liens to a Florida investment group. Any homeowner who does not make an arrangement with the county prior to a Dec. 11 deadline could see their debt sold to Finch Investment Group LLC. Terms of …
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