DEBT RELIEF LAW CENTER
Attorney N. James Turner Can Help
Stop The Harassment!
Some debt collectors have attempted to coerce consumers into paying time-barred debts by making a variety of misrepresentations. Some companies would try to encourage consumers to pay even a small portion of the debt. If the consumer pays any amount of the debt, this would lead to a restarting of the statute of limitations on a debt that the consumer did not have a legal obligation to pay.
One company that encouraged consumers to pay on time-barred debts was Asset Acceptance, LLC. As a result of its practices of making misrepresentations to consumers Asset Acceptance paid a civil penalty of $2.5 million to the Federal Trade Commission (FTC) and has agreed to tell consumers when a debt is too old to be enforceable and that Asset Acceptance will not sue to collect the debt. Asset Acceptance went after time-barred debts with the intention of encouraging consumers to make at least a partial payment so that the legal obligation to pay would be revived.
This company would also report the expired debts to credit bureaus to pressure debtors to pay. The settlement also barred Asset Acceptance from placing time-barred debts on consumers’ credit report without first notifying the consumer. This settlement shows that the prohibitions against unfair and deceptive collection practices apply to time-barred debts.
Claims under the FDCPA can become quite complicated very quickly and have many factors to consider. Many debt collection agencies and firms have a nearly limitless amount of resources including an endless flow of money, hives of staff, and an extensive bank of previous work assignments. This is why you need an equally resourceful and more experienced staff to defend your rights.
STARTED SINCE 1990
Orlando Consumer Rights Lawyer - providing aggressive and affordable professional services to consumers who have been victims of debt collection harassment by debt collectors and auto fraud, to residents in Orlando, Kissimmee, and throughout the Central Florida Area.