Encore Capital up SH-- CREEK

[mizliz1011]

READ ALL ABOUT IT

 

http://dealbook.nytimes.com/2015/01/08/debt-buyer-faces-fine-and-loss-of-thousands-of-court-judgments/?hp&action=click&pgtype=Homepage&module=first-column-region&region=top-news&WT.nav=top-news&_r=0

[moosetracks]

:good:

[popamode72]

Serves those scumbags right!

[ICANHASMUNY?]

and on Bloomberg too.

 

http://www.bloomberg.com/news/2015-01-09/encore-agrees-to-settle-new-york-improper-collection-claims-1-.html

 

 

http://www.ag.ny.gov/press-release/ag-schneiderman-obtains-settlement-major-debt-buyer-who-filed-thousands-time-barred

 

 

It is unlawful for a debt collector to bring suit against a consumer when the claims are outside of the applicable statute of limitations. Under New York law, in order for an action to be timely filed, it must be commenced not only within New York’s statute of limitations, but also within the statute of limitations of the state where the cause of action accrued, if other than New York.

 

In debt collection actions, a cause of action accrues where the original creditor of the debt resides. ( my note; this is only for NY state - other states may have similar "borrowing statutes" see the topic on the state law forum here on CB)

 

For example, while New York’s statute of limitations to collect on a debt is generally six years, if the original creditor on the debt was located in Delaware, which has a three-year statute of limitations, the shorter statute of limitations would govern the action.

 

the NY AG went after PRA and Sherman Financial group AKA LVNV funding last year Was wondering what the deal was with Midland funding ......

[JunkBuyersWorstNightmare]

Excellent.