Bank that initiated foreclosure action not subject to state debt-collection law

Thus, in actions where state law does not. counterclaim to a debt collection action in Illinois was not time barred, because Illinois had not enacted a specific statute addressing section 1640(e).

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I've Got A Collector Threatening To Take Me To Court Foreclosure complaint can subject law firm & bank to a claim for violating the fair debt collection practices act (FDCPA) Search Lawyers held to be “debt collectors” that can be held liable for false statements in connection with a foreclosure

A common interest community subject to covenants, conditions, and restrictions was encumbered by a note and deed of trust in favor of U.S. Bank, N.A. The former homeowners fell delinquent on their association dues and defaulted on their obligations to U.S. Bank. The community homeowners’ association (SHHOA) and U.S. Bank separately initiated nonjudicial foreclosure proceedings.

assigned the deed to JP Morgan Chase Bank, N.A (Chase). When Chase initiated a non-judicial foreclosure sale on the property, the Ameses filed lawsuits in state court and then in federal court, alleging among other things that the assignment of the security deed to Chase was invalid.

“GetBack was the second-largest debt collection. actions will be taken in this matter.” Institutional demand for high-quality corporate bonds is not expected to be affected by GetBack’s default,

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A bank foreclosure occurs when a person obtains a mortgage through a bank lender, but cannot keep up with the payment terms. In such cases, the bank may repossess the home and sell it in order to make up for the outstanding payment amounts.

comply with the state’s nonjudicial foreclosure proceedings, each attorney sends an identical foreclosure notice to every homeowner.3 The foreclosure notices do not verify the debt,4 and do not contain the mini-miranda warning5 required by the Fair Debt collection practices act6 (FDCPA). They also never demand repayment in the notice.

collection and not the result. An FDCPA action in federal court is not an appropriate vehicle to establish the rules or parameters of state law or to determine whether the consumer owes the debt. Among the criteria for good case selection is not only the obvious need to prove that the defendant collector used a prohibited means to collect the.

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