Fair Debt Collection Practices Act: A Case Study

Portfolio Recovery Associates is a debt collection company. Debt collection is the process of pursuing payments of debts owed by individuals or business. Portfolio Recovery Associates is a 3rd party collection company, this company buys defaulted consumer debt for pennies on the dollar.

On October 22, 2014, the FIDM lien was requested in accordance with the Code of Alabama 1975 30-3, 30-3-197 and 30-3-198. On October 23, 2014, the Secretary of State acknowledged the lien and the levy was requested. On the same day, the Notice of Levy was sent to the financial institution. On October 27, 2014, the levy package was generated for the NCP. On December 9, 2014, the Lien Unit received a notice from the Navy Federal Credit Union that account numbers 3019677362, 3044625709, 7034239553, and 3044624900; the accounts have zero funds for payment. The levy was released; it was re-added due to the account on the FIDM screen; not listed on notice having funds. On that same day, the FIDM levy was released on the account #530116705. Again, on that day, the FIDM levy was requested and the notice was sent to the financial institution. On December 11, 2014, the FIDM Levy package was produced. On February 25, 2015, the NCP contacted the Lien Unit and stated that he had sent a statement of benefits letter from social security about two weeks ago. The Lien Unit told him that they had not received the information and requested the NCP to send the information and the Request for a Review Form via fax to expedite the process. On March 20, 2015, the Lien Unit contacted the NCP; he stated he mailed the statement from social security about a month ago and wanted confirmation that it was received. The NCP was advised that no documents had been received. Again, the Lien Unit requested the NCP to fax in the documents. On March 25, 2015, through contact of voice mail, the Lien Unit requested the NCP’s last three months bank statements on the account affected by the lien or where the social security benefits are deposited. Later that day, the Lien Unit informed the NCP that the Social Security Administration

Discuss why offices should have a well written payment/collection policy. Why should the staff be familiar with the policies? How should the policy be provided or posted? What are the consequences of unclear policy?

Claim: The bill collector violates the FDCA by calling the debtor repetitively at all inappropriate times to annoy the consumer for paying off his debts

• Provide proof that Allied Collection Services is bonded/licensed for debt collecting in the State of Delaware.

The Federal Fair Credit Reporting Act (“FCRA”) provides borrowers with consumer rights and protections including the right to dispute inaccurate or incomplete information with the consumer-reporting agency or with the furnisher (Residential Credit Solutions, Inc.) directly. This law requires RCS to review the dispute including supporting evidence provided with the dispute. The furnisher must investigate the disputed information and provide its findings to the consumer-reporting agency or to the borrower.

Please note that the amount of the Association’s lien will automatically increase as assessments are charged and collection costs (including attorney’s fees) are incurred. For a payoff at any

A CPA’s retention of client-provided records as a means of enforcing payment of an overdue audit fee is an action that is

The research conducted on medical debt emphasizes how an unanticipated change in health status has the potential to derail a pre-retiree who was properly planning for retirement. For those who were not planning for retirement prior to a detrimental change in health, opportunities to adequately save for retirement are almost nonexistent. Within the retirement planning process, pre-retirees should become proficient in what their medical insurance plan covers and equally important, what the insurance plan does not cover.

If that collection activity fails to get the dues up to date, the HOA can then place a lien against the property. The HOA has this right according to the agreement that all property owners sign when entering the community. They do this by filing lien paperwork at the county clerk's office. This lien will stay in place until the debt is paid.

Laws are different in every state it is good to look into how your state laws protect you. If you feel like the collection agency are harassing you or threatening you need to contact your states Attorney General’s office, or the Federal Trade Commission.

PSLF, or the Public Service Loan Forgiveness, is another key tool in combatting student loan debt (Altman, Edwards, & Thompson, 2015). If a borrower is making payments under an IDR plan and is working full-time in public service, whether the government or a registered non-profit, they can sign up for loan forgiveness after only ten years (Altman, Edwards, & Thompson, 2015). While this applies only to those with loans directly from the federal government, those with federally guaranteed can also reap the benefits if they reconsolidate their loans (Altman, Edwards, & Thompson, 2015).

My husband and I are on our way to becoming debt free and with that comes some challenges. We have set ourselves out to accomplish one hard task: do not spend money on anything, unless it is an emergency/necessity, so we can put as much money into paying off our debt faster. I have two kids who are out of school for the summer and are always wanting to do things, and I can’t blame them. With the task at hand I have been finding new ways to use things we already have in the house. Our textbook states “No matter how old something is, new uses can always be devised for it.” (Ruggiero 98) I have tried to do that with some of the kid’s games. For example, I don’t want my daughter, who was in kindergarten, to lose her math skills on break so I took

I 100% agree with your post. It is unlawful to discriminate against an applicant for credit. When a credit application is refused, the applicant must be furnished a written explanation. The collection agency used improper practices by harassing Peter and causing him to have a mental breakdown during work. In Peter’s case, the collection agency would be liable for the mental troubles they caused Peter and the loss of his job.

payments represent on his part a precautionary measure, which is eo ipso cancelled with valid conclusion of the divorce proceedings with regards to the maintenance. In accordance with Clause 6 of the agreement, the release of the deposited amount requires either an agreement among the parties or a judicial decision. Is the latter the case, the competence of the court has to remain naturally in the context of legal bases. Concerning this matter, it needs to be stated that the order relating to the request of the appellant to the (partial) payment to herself for the repayment of the awarded monetary compensation would equal a direct enforcement in the sense of Art. 236