D.C. Lawyer for Debt Defense
Consider hiring a lawyer for debt defense if you are being pursued by a debt collector. Lee Legal serves the District of Columbia, Northern Virginia, and the D.C. suburbs of Maryland. To understand how the debt collection industry works, read the November 2019 State of Collections report from TransUnion. We did, and there are a […]
Washington, D.C. Region Outpaces Nation in Complaints About Debt Collection
The Washington, D.C. region again outpaces the nation in complaints about debt collection in 2018, according to the latest Complaint Snapshot report from the Consumer Financial Protection Bureau, or CFPB. Washington, D.C. ranks first in the nation in debt collection complaints per capita, while Maryland ranks third and Virginia ranks eighth. The D.C. area has […]
Call from a Debt Collector? Know Your Rights.
If you’re getting calls from debt collectors, you might have several issues going on in your life. You probably don’t have a lot of time to talk to a stranger trying to get you to pay them money. Or you might have all the time in the world but no money to give. If you […]
What Does It Mean When a Debt is Charged Off?
Many people experience a feeling of relief when they see on their credit reports that an old debt has been marked as “Charged Off.” Some think that these debts have been forgiven because a creditor has charged off the debt. But what exactly does it mean when a debt is charged off? You Still Owe […]
The Debt Buying Industry
Delinquent debt has given rise to an entire debt buying industry. When a debt becomes seriously delinquent, the bank holding the debt will write it off then sell it to a debt buyer, like Midland Funding, for a tiny fraction of the amount of the debt. In turn, that debt buyer might sell it to yet […]
Can a Debt Collector Message Me on Facebook?
If you are being pressured to pay a debt, you know that collection agents can be relentless. A collection agency may be constantly bombarding you with demands for payment. Letters, phone calls, and . . . Facebook? That’s right. Social media makes it even easier for debt collectors to find and pursue you. Over the last few weeks, […]
Washington DC Area Tops List for CFPB Complaints Nationwide
As of March 1, 2016, the Consumer Financial Protection Bureau (CFPB) handled approximately 834,400 complaints, including approximately 22,800 complaints. The Washington, DC area has three of the top seven jurisdictions for CFPB complaints per capita. By a wide margin, Washington, D.C. leads the nation in CFPB complaints per capita with 713 complaints per 100,000 residents. […]
The CFPB Should Restrict Debt Collectors from Calling Cell Phones
In November 2013, the CFPB issued an Advance Notice of Proposed Rulemaking soliciting public comments on an array of issues relating to the debt collection practices of third-party debt collectors, debt buyers, and creditors. The CFPB should restrict debt collectors from calling cell phones. In a recent article, Todd Zywicki, law professor at George Mason […]
Feds Investigating Banks for Debt Collection Abuse
The Office of the Comptroller of the Currency will investigate banks for filing hundreds of thousands of abusive debt collection lawsuits. In many cases, debt buyers use shoddy records or flimsy affidavits in support of these lawsuits. According to the Washington Post, a probe of JPMorgan Chase that started in 2011 will be expanded to […]