Source: Site At Credit Law Center, we’ve seen this pattern before: a major debt collector gets caught violating consumer protection laws, agrees to a settlement, and then—once the spotlight fades—tries to walk it back. That’s exactly what’s happening right now. Portfolio Recovery Associates (PRA Group) is asking a federal court in Virginia to undo or […]
Category Archives: Collections
25
Sep
Sep
In 2023 it was reported that over 30% of Americans have an account that has recently gone to collections and that the average debt per person is a little over $9,000. Normally, when you hear that an account has gone to collections, you expect phone calls from unknown numbers asking to settle a debt and […]
Collections, Credit Optimization, Credit Score
Groups Sue to Stop CFPB From Banning Medical Debt on Credit Reports
14
Jan
Jan
The Biden administration’s recent rule to exclude medical debt from credit reports has sparked significant debate, with industry groups filing lawsuits to challenge the regulation. The Consumer Financial Protection Bureau (CFPB) finalized this rule to remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans, aiming to enhance […]