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home | Legal Issues | Legal Issues Archives
 

Legal Issues continued

Displaying Matches 32 thru 46 of 64 Found.  BACK NEXT

Collection Agency Settles on FDCPA Charges
A collection agency has agreed to settle Federal Trade Commission charges that it had falsely threatened legal action against consumers from whom the . . . keep reading


Is Collection Agency Right or Are They on Thin Ice With the Fair Debt Collection Practices Act?
This case study looks at a situation of an individual being charged collection fees and interest in excess of the state's allowed level by a college and collection agency. Another twist is that she says she never received payment guidelines from the college. Now, she's alleging a violation of the FDCPA. Is she correct? Or is the agency correct? . . . keep reading


Judgments Against Joint Tenants With Right of Survivorship
When Allen Holland died suddenly, his widow's one consolation was that she would be secure in her own home, since they owned it as joint tenants with right of survivorship. Then she was notified by Center City Finance that unless she paid off a $4,200 loan Allen had taken out, she could lose the house after all.

"This isn't my debt," Eileen Holland protested.

"Well, we have a judgment, and it's been filed as a lien against your house," the finance company manager told her. "If it isn't taken care of within the next week, it's our intention to look to the house for payment and put it up for sale immediately."

"I didn't think you could do something like that," she said. "We held the house jointly, and my husband said I was protected."

"Well, you're not protected, and this money has to be paid within the next 10 days or else we will proceed against you."

"My husband told me that we held the property jointly and that it would pass to me if anything happened to him."

Is Eileen Correct?

. . .
keep reading


Settlements Should Give Guidance to Collectors
The news is full of schemes, scams, shams and telemarketing rip-offs. It's no wonder that some consumers become overwary of any business contacts made by phone.

Though they may know that they are in debt, some consumers still fear a scam when they are contacted by a collector over the phone. This fear can cause them to talk to a lawyer rather than to some stranger who is calling and asking for money. . . .
keep reading


Can Out of State Bank Charge Late Fees in California?
"Yes, I'm behind in my payments," stated Carl DeVito, "but I'm certainly not paying the bill you just sent me. You can't charge a late fee on my balance. It's illegal to do that in California."

"This isn't California, Mr. DiVito, and I'm afraid we can," responded Jim Speziale, collections manager at the Centralist Bank of South Dakota. "Just read the terms of our contract, which we print on the back of each of your bills."

"I've read the back of the bill," said DeVito. "It mentions 'late fees,' but it doesn't mention anything about basing those fees on how much a card-holder owes, or how long the card has carried a balance. So it's a fine. A penalty. . . .
keep reading


Banks Can Freeze Bankrupt Consumers' Accounts
The U.S. Supreme Court has given banks permission to freeze the accounts of bankrupt customers who have defaulted on loans made by the banks. The case . . . keep reading


The Debtor Won't Pay Voluntarily -- So Now What Happens? A Look at the Suit Decision and Process
The Debtor Won't Pay Voluntarily -- So Now What Happens? A Look at the Suit Decision and ProcessCollecting open accounts on a voluntary basis is becoming increasingly difficult. According to a widely-reported 2009 study conducted by the United States Government, 20% of US households in the have no landline telephone, using only cellular phones. In 2003 that number was only 5%. Factor in caller-ID, private line blocks and voicemail and it is becoming virtually impossible to talk to someone who doesn't want to talk to you. That includes most debtors. Demand letters, while effective, require a debtor has to take affirmative action to make payment. What happens when they don't? That's when the creditor has to make a decision as to whether to file suit to enforce its claim. . . . keep reading


Is this a consumer or commercial debt and is it covered under the Fair Debt Collection Practices Act?
"You violated my rights under the Fair Debt Collection Practices Act," claimed Brian O'Clair. "You were collecting a debt that belonged to another ban . . . keep reading


Breach of Peace
"I know we've had a lot of rain, and I'm sorry you lost a big account. But I've got problems too. You're a thousand dollars behind on the two new mowe . . . keep reading


Truth in Lending Act
Can bank charge back a borrower for courier's fees if not expressly listed? Would charging the borrower constitute a violation under the Truth in Lending Act (TILA)? . . . keep reading


Does the FDCPA Apply to Commercial Collections?
"What's the big idea calling me at home and at this time of the night?" demanded Don Brandon, owner and operator of Brandon Distributors. "You won' . . . keep reading


Competing Liens: the Basics
by Ann Morales Olazábal, MBA, JD
One customer of Denton Auto, a large supplier of auto parts, is Fitch Motors, Inc., a full service auto dealership in the business of selling new and used cars, as well as providing warranty, other service, and body work. Fitch has established a credit agreement with Denton, and as part of that arrangement Fitch has agreed to grant Denton a security interest in any and all inventory sold on credit until that auto parts inventory is paid in full. Fitch has experienced some cash flow problems and is now "slow pay." Invoices are 120 days out and a few are even longer, but Fitch has continued to send a steady stream of payments. Lisa Stein, Denton's credit manager, is concerned but not terribly so because she knows legal action can be taken, if necessary, to repossess the bulk of the auto parts Fitch stocks. However, in a telephone conversation with Fitch's accounts payable staff, Stein hears something that does give her pause. Apparently Fitch has also given a lien on its entire inventory of automobiles and auto parts, as well as in its equipment and receivables, to a local bank. Can Fitch do that? . . . keep reading


Spousal Guarantees: Be Careful What You Ask For
By David Farrell, Esq.
Spousal Guarantees: Be Careful What You Ask ForWhen extending credit to a closely held company, you-as a prudent credit manager-often may insist that an officer, director and/or shareholder of the company provide a personal guaranty. Because of the difficulty under the laws of many states in collecting an individual obligation from a married person, you may also be inclined to ask the spouse of the officer, director or shareholder to also sign the guaranty. By doing so, however, you may not only be jeopardizing your company's right to collect the amounts advanced under the line of credit but also exposing it to significant monetary liability. How can that be? . . . keep reading


Practical Tips for Enforcing Commercial Judgments -- A Perspective from the Trenches
By Barry S. Feierstein
Getting a judgement may make you feel good. But it won't count for much unless you can turn that judgement into actual CASH! Here are some tried and t . . . keep reading


Your Customer Sells Your Goods to Pay Other Creditors: Is This Fraud? If It Is Fraud, Will Your Claim Survive the Bankruptcy?
By Scott Blakeley
Your Customer Sells Your Goods to Pay Other Creditors: Is This Fraud? If It Is Fraud, Will Your Claim Survive the Bankruptcy?You sell your product on unsecured credit to a sole proprietor business. The customer uses the proceeds from the sale of the product you provided to pay other creditors and you go unpaid. The customer files personal bankruptcy and schedules your claim as unsecured, to be discharged through the bankruptcy. . . . keep reading


Displaying Matches 32 thru 46 of 64 Found BACK NEXT

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