State Statute Says Banks "Exempt" As Collection Agency - What Now
In states that have this statute, one cannot file under state statutes against a bank [original creditor]. Federal statutes like FDCPA are still available.
Related Articles
The Collection Agency Sent The Account Back To The Original Creditor
Despite what a letter may say (see example attached) about a debt collection agency "returning the account to the original creditor" - it's just not true. Should one receive a reply like the attachment, continue with the debt removal steps as usual ...
What If One Never Received A Collection Letter
In the event that a consumer has never received a collection letter from a collection agency, a collection entry (also known as "tradeline" or "TL") on a consumer's credit report can be considered an "initial communication" triggering a consumer's ...
How Does One Stop A Collection Agency From Harassing Calls
The way to stop a collection agency from calling/harassing is to ask for proof of validation. A collection agency may not contact a debtor until this validation (and verification) process has been completed. If a collection agency continues to call - ...
Does USPS and Banks Report Transactions Over $10,000
Yes, both USPS and banks report transactions over $10,000 to the IRS. These organizations can file a Suspicious Activity Report (SAR) with the Treasury Department's Financial Crimes Enforcement Network (FinCEN) for transactions that appear to involve ...
What Is The IRS Statute of Limitations on Collections for Prior Tax Years
As a general rule, there is a ten year statute of limitations on IRS collections. This means that the IRS can attempt to collect one's unpaid taxes for up to ten years from the date they were assessed. Subject to some important exceptions, once the ...