Showing 2 posts in Billing/Payment.
U.S. Court of Appeals Issues Important Ruling on Time Limits to Sue Under Fair Debt Collection Practices Act
On March 1, 2023, the U.S. Sixth Circuit Court of Appeals issued a decision with important implications for parties involved in debt collections regulated under the Fair Debt Collection Practices Act (FDCPA)[1]. The decision, in Bouye v. Bruce[2], examined the FDCPA’s one-year statute of limitations for claims of improper debt collection practices, finding that the one-year period of limitations applied to each discrete violation of the FDCPA claimed by the plaintiff. Read More ›
Categories: 6th Circuit Court of Appeals, Billing/Payment
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Sixth Circuit Court of Appeals Finds No Breach of Contract or FCRA Violation in Connection with Late Payments Under a Reaffirmation Agreement
In bankruptcy, a debtor must relinquish assets to satisfy debts. But there are exceptions to this general rule. Certain assets may be exempted from a debtor’s bankruptcy under federal and state law. Other assets, which are subject to a contractual loan agreement and the security interest of a lender, may be “reaffirmed” by a debtor pursuant to a reaffirmation agreement. The debtor may keep the asset, such as a house or a car, as long as the debtor enters into a new agreement with the lender that reaffirms the debt according to defined contractual terms, which may or may not track the original loan terms. Read More ›
Categories: 6th Circuit Court of Appeals, Billing/Payment, Chapter 7, Collections
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