Debt collection

In 30 states and the District of Columbia, attorneys general are urging the Consumer Financial Protection Bureau to adopt new debt collection rules that will "better protect consumers and military service members."

A Louisiana town approved hiring collection agency American Municipal Service to pursue an estimated $750,000 in debts including unpaid court costs and utility bills. Some of the debt is up to 15 years old.

A New Jersey appeals court ruled that debt buyers do not have to provide notice to consumers when debts are purchased and assigned but must prove they own the debt and the amount before they can collect. Further, electronic business records are sufficient for proof.

A class action lawsuit filed against student loan collection company, the National Collegiate Student Loan Trust, and the Law Offices of Patenaude & Felix APC, alleges that they used deceptive practices to collect student loan debts in California.

Service members, veterans and their families who filed complaints about financial products or services have recovered more than $1 million, the Consumer Financial Protection Bureau announced.

NCO Financial Systems, a collection agency arm of Horsham, Pa.-based NCO Group, plans to lay off 107 workers at its Virginia Beach, Va. call center, according to a notice filed with the Virginia Employment Commission.

The Consumer Financial Protection Bureau issued a formal notice that it will mail surveys to consumers to learn about their experiences with debt collectors. Specifically, the survey will ask whether consumers have been contacted by collectors and whether they recognized the debt being collected.

The Utah Senate approved payday lending reform on Thursday and will be sent to Gov. Gary Herbert's office for a signature.

DECA Financial Services, an Indiana consumer debt collection firm previously lauded by Inc. magazine as one of the fastest-growing U.S. companies, is now facing serious debt problems of its own.

Total outstanding balances of bank and retail-issued cards and home finance increased in January for the third consecutive month, the first time that has happened in more than three years, according to the latest Equifax National Consumer Credit Trends Report.

A decline in overall credit risk can be attributed to a national drop in credit card, auto loan and mortgage delinquency rates, which are at near historic lows, according to TransUnion officials.

ACA International's Research Department reviewed 14,328 complaints received by the Consumer Financial Protection Bureau to determine trends, provide an analysis of the information behind the numbers and share recommendations for improvement.

Apollo Credit Agency Inc., a collection agency based in Lakewood, Colo., and general manager James Saddoris are facing a lawsuit in Colorado for allegedly failing to pay clients on accounts placed for collection.

The Federal Trade Commission on Wednesday published its annual summary of collection enforcement activities, stating in has brought or resolved nine collection cases in the past year.

President Obama sent Congress a $3.9 trillion budget for 2015 that includes increased spending for employment and education - and language giving the Treasury Department the ability to call delinquent consumers on their cell phones using autodialers.

U.S. consumers spent an average of $87 per day last month, a strong rebound from $78 in January, which had been the lowest estimate in 14 months, according to Gallup.

The former owner of a Minnesota collection agency pleaded guilty Monday in Minnesota district court to one felony count each of theft and theft by swindle, according to the Dakota County (Minn.) Attorney's Office.

Borrowers are taking on higher credit balances after dropping more than $1.5 trillion in mortgage debt since the financial crisis, according to a report from Equifax.

A group of marketers agreed to settle Federal Trade Commission charges that they took part in a scheme that bombarded consumers with tens of millions of spam text messages that lured consumers with phony gift card offers, and then directed recipients to deceptive websites.

The Consumer Financial Protection Bureau is calling on the largest U.S. credit card companies to make credit scores and other related content freely available to customers.