Court tosses debt collector’s suit A Pennsylvania appeals court has thrown out a debt collector’s case against a woman who allegedly owed more than $5,000 on a credit card account because the collector couldn’t vouch for the accuracy of the electronic records it presented as evidence. Consumer advocates and lawyers who defend [Read Full Story]
The following statistics are provided to the ARM industry courtesy of WebRecon LLC. FDCPA and Other Consumer Lawsuit Statistics, January 1-15, 2011 There were about 441 lawsuits filed under consumer statutes in the first half of January 2011. Here is an approximate breakdown: · 431 FDCPA · 57 FCRA [Read Full Story]
Buying bad debt is a rapidly growing business enterprise for investors. A bad economy and rising unemployment, resulting in growing consumer debt and increasing credit defaults has left creditors with lots of unresolved debt. As these credit granters are looking for much-needed cash flow, many are selling portfolios of charged off debt. Buying [Read Full Story]
