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Credit Card Collections: Best Practices

Learn best practices and developing trends in credit card collection.Knowing the trends and knowing your debtor and accounts will help collectors avoid nuanced legal issues in the constantly changing debt collection landscape. This material on Credit Card Collections: Best Practices will cover two main topics: best practices generally when collecting on credit card debts and litigation trends that should inform those practices. We will cover initial information and considerations for debt collectors and will discuss issues such as whether the FDCPA controls specific collection practices, what collectors should look for in underlying agreements and account statements and what all of this means for purposes of drafting collection letters that comply with the FDCPA. In addition, we will focus on some hot-button litigation trends in the FDCPA context. Specifically, there will be a focus on disclosures related to current account balances and recent decisions related to the Second Circuit’s opinion in Avila v. Riexinger & Assocs. We will also discuss developing trends related to tax consequence disclosures and what collectors should consider when savings and/or debt forgiveness may trigger IRS reporting obligations.


Runtime: 61 minutes
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Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Credit Card Collection Best Practices – Generally

  • What Does the Underlying Credit Card Agreement Reveal?

– Arbitration Provision?

– What State's Law Controls?

– Does the State Law Require Any Specific Provisions in a Collection Notice Beyond What Is Required by the FDCPA?

  • What Do the Underlying Statements Reveal?

– Is the Debt out of Statute? If so, What Does That Mean for the Letter?

– Is This a Business or Personal Account?

– Was It a Joint Account?

Litigation Trends and Collection Letters – Striking the Appropriate Balance Between Including Enough Information but Avoiding Confusion

  • Avila v. Riexinger and Assocs.

– Is Interest Continuing to Accrue?

– If Interest Is Accruing, What Do You Have to Disclose?

– If Interest Is Not Continuing to Accrue, Is Any Disclosure Required?

– What About Pre-Judgment Interest and Post-Judgment Interest?

– What Are Best Practices With Respect to Disclosures in Light of Avila and Its Progeny?

– Recent Case Law Developments, Including Douglas v. Forster and Garbus LLP, Taylor v. Fin. Recovery Servs., Inc., Santibanez v. Nat'l Credi Sys., Dick v. Enhanced Recovery Co., LLC

  • Tax Consequence Language – If Your Offer to Settle the Account Has the Potential to Trigger IRS Reporting Obligations, What Type of Disclosure Should You Consider Including in Collection Letters?

– General Issues Related to Tax Consequence Disclosure Language:

– What Role Does Math Have in the Disclosure?

– Using the Word "May"

– Using No Disclosure at All

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Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 30, 2017.

Call 1-866-352-9540 for further credit information.

  • AL CPE
     
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  • GA CPE
     
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  • IA CPE
     
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  • IN CPE
     
  • This program is applicable for self study CPE credit. *The Indiana State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
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  • ME CPE
     
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  • MI CPE
     
  • This Ondemand program is applicable for CPE credit. *The Michigan State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MO CPE
     
  • This Ondemand program is applicable for CPE credit. *The Missouri State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MT CPE
     
  • This Ondemand program is applicable for CPE credit.* *The Montana State Board of Accountancy has final authority on the acceptance of individual courses and providers. Please check the rules and requirements for CPE compliance and calculate the amount of credit hours you can claim for self study courses.
     
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  • NH CPE
     
  • This Ondemand program is applicable for CPE credit. *The New Hampshire State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NV CPE
     
  • This Ondemand program is applicable for CPE credit.*The Nevada State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • OH CPE
     
  • This Ondemand program is applicable for CPE credit. *The Ohio State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • PA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Pennsylvania State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • TX CPE 1.2
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.2 hours of continuing professional education.
     
  • VA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Virginia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • WA CPE
     
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  • WY CPE
     
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This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • CT CLE 1.0
     
  • GA CLE 1.0
     
  • HI CLE 1.0
     
  • IL CLE 1.0
     
  • ME CLE 1.0
     
  • MT CLE 1.0
     
  • NJ CLE 1.2
     
  • NV CLE 1.0
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • CT CLE 1.0
     
  • HI CLE 1.0
     
  • IL CLE 1.0
     
  • ME CLE 1.0
     
  • MT CLE 1.0
     
  • NJ CLE 1.2
     
  • NV CLE 1.0
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Meagan A. Mihalko

Meagan A. Mihalko

Troutman Sanders LLP

  • Trial lawyer with Troutman Sanders LLP whose practice emphasizes all aspects of the consumer financial services industry, in which she represents debt buyers, debt collectors, national and regional banks, consumer reporting agencies, data wholesalers and other related consumer finance entities in federal and state consumer litigation, including claims under the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA) and other federal and state statutes, and common law
  • Counsel for one of the largest banks in defense of putative FCRA class actions arising out of hiring processes and obtained summary judgment in federal court
  • Counsel for national reseller of consumer reports in defense of putative class action and single-plaintiff FCRA cases. Obtained summary judgment and partial summary judgment of FCRA claim in federal court
  • Counsel for regional bank in defense of single-plaintiff FCRA claim
  • Counsel for national debt collector in defense of putative class action and single-plaintiff FDCPA and TCPA cases
  • Counsel for staffing agency in putative class action FCRA case
  • Counsel for national background screening company in FCRA national class action and single-plaintiff FCRA cases
  • Counsel for automotive finance company and obtained dismissal with prejudice of FCRA claim in federal court
  • Counsel for regional insurance company in TCPA class action and obtained stay of litigation in light

of Campbell-Ewald Co. v. Gomez and Spokeo, Inc. v. Robins

  • Represented manufacturing company in “junk fax” case and obtained dismissal with prejudice in federal court
  • Selected as a Rising Star in Consumer Law by Law & Politics' Virginia Super Lawyers magazine (2015 to 2017)
  • Provides ongoing analysis and commentary on developments in consumer financial services industry through the Consumer Financial Services Law Monitor blog at http://www.consumerfinancialserviceslawmonitor.com/
  • 2007 graduate of James Madison University and 2010 graduate of the University of Richmond School of Law
  • Can be contacted at 804-698-1281 or [email protected]
Ethan G. Ostroff

Ethan G. Ostroff

Troutman Sanders LLP

  • Trial lawyer with Troutman Sanders LLP whose practice emphasizes all aspects of the consumer financial services industry, in which he represents debt buyers, debt collectors, law firms, national, regional and local banks, consumer reporting agencies, and other related consumer finance entities in federal and state consumer litigation, including claims under the Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), Telephone Consumer Protection Act (TCPA), Electronic Fund Transfer Act (EFTA), Equal Credit Opportunity Act (ECOA), other federal and state statutes, and common law; regularly counsels clients on compliance issues, with a focus on the FDCPA, FCRA and EFTA
  • Counsel to one of the world’s largest debt buyers and for a national collection agency, for whom he handles individual and class action threats and lawsuits, as well as a range of compliance questions, arising under the FDCPA, FCRA, TCPA and related state laws
  • Selected as a Rising Star in Consumer Law by Law & Politics' Virginia Super Lawyers magazine (2012 to 2015) and named to Virginia Business magazine’s Legal Elite Under 40 (2009, 2014 to 2015), and in appellate law (2011 to 2013)
  • Presenter, “Debt Collectors and Federal Regulators: Recent Developments with the CFPB, FTC and FCC,” Virginia Creditors Bar Association, Sixth Annual Collections Seminar, Williamsburg, VA, October 8, 2015
  • Speaker, “The Devil in the Details: High Risk FCRA Reporting Issues for Furnishers,” The Association of Credit and Collection Professionals 2015 International Annual Convention and Expo (ACA), Boston, MA, July 20, 2015
  • Presenter, “Navigating Risks, Threats, and Lawsuits in the Credit and Collection Industry Live Webinar” Lorman Education Services, Aug. 27, 2014; “CFPB, FTC, State Regulators and Compliance,” Credit and Collection News Seminar, Atlanta, GA, Feb. 18-19, 2014
  • Co-wrote, “CFPB Issues "Guiding Principles" for Financial Technology Payment Systems to Ensure Consumer Protections” TerraLex Connections, September 2015; co-wrote, "New York Announces Sweeping New Regulation of the Debt Collection Industry," TerraLex Connections, March 16, 2015; co-wrote, "Fourth Circuit Rules Debt Collector Violated "Call Charged" Section of TCPA for Using an ATDS to Call a Residential Landline," Terralex Connections, December 9, 2014; co-wrote, “TCPA Rule Changes are in Effect: Is Your Marketing Campaign Ready?” TerraLex Connections, January 2014
  • Provides ongoing analysis and commentary on developments in consumer financial services industry through the Consumer Financial Services Law Monitor blog at www.cfslawmonitor.com
  • Graduate, University of Virginia; graduate, Washington and Lee University School of Law, where he served on the board of appeals
  • Can be contacted at 757-687-7541 or [email protected]
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Product ID: 400681
Published 2017
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