The Cadle Company, a debt collection company well-known for hardball tactics, was recently denied a license to operate as a debt collection agency in Massachusetts. Cadle sued the Massachusetts Division of Banks in state superior court seeking to overturn the decision to deny it a license, but the superior court took the Division’s side citing, among other things, the substantial evidence of complaints and outstanding litigation against Cadle.
Cadle Company Denied Debt Collection License in Massachusetts
by Jay Fleischman, Esq.
Can you go door-to-door, trying to collect past due payments? The West Virginia Attorney General fought a payday loan company that tried to collect past-due payments in person, and this week announced a settlement agreement with four affiliates of the nation’s largest payday lender, Advance America, Cash Advance Centers, Inc. (Advance America) of Spartansburg, South [...]
by Andy Miofsky, Illinois Bankruptcy Attorney
The filing of a Voluntary Petition in bankruptcy results in the issuance of an Order For Relief under Section 362. This order, commonly called the automatic stay, enjoins creditors and their agents from taking certain collection activity outside of the bankruptcy proceeding. The most common collection method is the telephone call. In If My Creditor’s [...]
by Jed Berliner, Western & Central Massachusetts Consumer Lawyer
We’re pretty lucky in Massachusetts. We have a $500,000 homestead and it applies to home equity, not overall value. Equity is value minus mortgages. Not bad. (It’s not doubled if married, however.) You must have a valid Declaration of Homestead recorded with the Registry of Deeds. It costs $35.00, and the property description or deed [...]
by Jay Fleischman, Esq.
That was a trick question. The Credit Repair Organizations Act recognizes that people have an interest in keeping their credit reports accurate and updated. The law also realizes that many people seek assistance from companies that offer to correct those errors. But the waters are shark-infested. People with credit problems need to be protected from [...]
by Cathy Moran, California Bankruptcy Lawyer
Delinquent debt is one of the hottest new “financial products”. Bad debt is bought and sold daily with little regard for whether the debtor has gotten a bankruptcy discharge. The buyer simply buys a data base of bad debt from a credit card company for pennies on the dollar and tries to collect. It’s called [...]