Debt Validation – A Consumer’s Weapon when Dealing with Debt Collectors &...
If tough times are making their way into your financial picture (or ever have) you are probably finding it difficult, if not impossible, to continue to pay your credit card bills. Other times I have...
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A “Secret Weapon” To Stop Second Mortgage And Credit Card Collections In...
The American Arbitration Association, Credit Card Disputes and Line of Credit/Mortgage Collection Lawsuits Increasingly, the banks and mortgage companies, particularly on second mortgages, are not...
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Exemption Policy: Sometimes it Doesn’t Pay to be Debt Free
We have two married 60-something friends who are artists in Santa Fe and own a very simple home with a rental house in the front. The house is tiny by all but New York City standards, and since their...
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OCC Servicing Settlement–Will Homeowners Get Screwed (Again)?
The WSJ reports on the latest development in the implementation of the OCC's mortgage servicing fraud consent orders. It seems that the banks will have OCC approved "independent" foreclosure review...
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NPR Reports that Debtors’ Prisons Are Alive and Well
Although debtors' prisons are illegal across the country, you can apparently still end up in jail for an unpaid bill. I first came across this reality reading one of Lea Shepherd’s (Loyola Chicago)...
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The Value(s) of Foreclosure Law Reform?
As Alan White reported recently, the Uniform Law Commission in the U.S. has named a committee to consider the need for and feasibility of proposing a uniform foreclosure act and to report back to the...
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Occupy Bank of America?
Who knew that Mitt Romney had outflanked Obama on the left? Well, it took Nixon to go to China, but I expect we'll see a lot of backpedaling here. It's a bit troublesome, though, that a Harvard Law...
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Maryland Courts Require More Proof in Debt Collection Cases, Ringing in Some...
In many states, a creditor or debt collector can easily obtain a default judgment with just a person’s name, last known address and Social Security number, and the judgment can follow the person...
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Buy Here Pay Here Dealerships
The LA Times did a three-part series this fall on what they call "Buy Here Pay Here" car dealerships. (Here is Part One, Part Two, and Part Three). The name, which was new to me, comes from a common...
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American Banker: Chase Has Halted Credit Card Collection Suits
Yesterday, the American Banker reported that Chase has stopped filing lawsuits to collect consumer debtors. Moreover, they did it quietly and quickly. With concerns over sloppy procedures in debt...
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CFPB to Share Information with Attorneys General
Carter Dougherty of Bloomberg reports this morning that the Consumer Financial Protection Bureau is entering into an information-sharing agreement with state attorneys general, that will help states...
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American Banker on Credit Card Debt Collections
Jeff Horwitz at the American Banker has been doing some great reporting on abusive debt collection practices in the credit card industry. Joe Nocera's column took up the subject today. Robo-signing...
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Deepthroat: Debt Collector Edition
The American Banker has been running an important series on credit card debt collection (here, here, and here) that Joe Nocera highlighted in his NY Times column today. The story that they're telling,...
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An Idea to Limit Body Attachments
As many Credit Slips readers will know, so-called "body attachments" allow a creditor to haul a judgment debtor into state court if the debtor fails to respond to court summonses to answer questions...
View ArticleHoly Crap | Game Over – The Mother Of All Infographics: Visualizing America’s...
Derivatives: The Unregulated Global Casino for Banks SHORT STORY: Pick something of value, make bets on the future value of “something”, add contract & you have a derivative. Banks make massive...
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Accretive’s Bedside Manner for Debt Collection
The end of last week got a little busy for many of the Credit Slips bloggers and none of us talked about the story last Wednesday by Jessica Silver-Greenberg at the New York Times regarding aggressive...
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Affidavits Are Not a Substitute for Evidence of Debt Ownership
The Tennessee Court of Appeals has issued a decision that highlights the problems facing credit card debt collectors in a post-robosigning world (see here and here). The decision reaffirms what should...
View ArticleAffidavits Are Not a Substitute for Evidence of Debt Ownership
Affidavits Are Not a Substitute for Evidence of Debt Ownership The Tennessee Court of Appeals has issued a decision that highlights the problems facing credit card debt collectors in a post-robosigning...
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Storage Wars and the Credit Practices Rule
A few times I have caught Storage Wars, a television show on A&E. When storage units customers do not pay their fees, the contents are auctioned off by the storage unit company. The show follows...
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News Flash: It is Illegal for Debt Collectors to Stalk Debtors on Facebook or...
Do any of you read creditcards.com? It is a great source of info on various topics, not just credit cards. Today’s story featured three debt collection horror tales, as well as a state of the nation...
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When Serving Jail Time for Unpaid Debts Becomes a Debt Spiral
Tell me. Are we allowed to do anything we like to those with the least power and money in our society? Are there no limits? We know that in some states, private actors have been permitted to charge...
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A Question Answered
Back in April, I posted about Minnesota Attorney General Lori Swanson investigating allegations that Accretive Health Care aggressively collected debts from hospital patients. These allegations...
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Learn How to Defeat Debt Collection cases Involving Junk-Debt-Buyers and...
Professor Peter Holland (U Maryland Law) has written a fantastic paper explaining in great detail how to defend against a debt-buyer-lawsuit, and possibly recover for Fair Debt Collection Practices...
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