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Category Archives: Debt Buyers



In the case of Munoz v. Pipestone Financial, LLC, Civil No. 04-4142 (JNE/SRN) (D.Minn. 8/30/2007), the Plaintiff claimed that Pipestone Financial, LLC, and Messerli & Kramer, P.A., (collectively, Defendants) violated the Fair Debt Collection Practices Act (FDCPA) by attempting to collect interest at an impermissible rate, misrepresenting their entitlement to attorney fees, and using envelopes […]



Consumers are sued for credit card debts every day. In New York City alone, hundreds of these cases are filed each business day with every county’s civil courts.
Part of what I do is defend these cases. Why? Because so often the plaintiff is a debt buyer and the defendant, a consumer, in […]



Accredited Home Lenders Holding Co., a nationwide mortgage company specializing in non-prime residential mortgage loans, and Lone Star Fund V (U.S.) L.P., through its affiliate Lone Star U.S. Acquisitions, LLC (”Lone Star”), announced on June 4, 2007 that they have entered into a definitive merger agreement pursuant to which Lone Star has agreed to acquire […]



The New York City Department of Consumer Affairs was recently asked to address an inquiry as to whether “debt buyers” that do not themselves engage in collection activities must be licensed by the Department. The Department responded that a purchaser or assignee of defaulted debt whose principal purpose is the collection of that debt, […]



Debt purchaser Asta Funding (Nasdaq: ASFI) announced that it has closed on a previously announced deal where it will purchase a portfolio of credit card accounts in collection litigation and accounts as to which the sellers have been awarded judgments and other traditional charge-offs.  Asta is buying the portfolio from Great Seneca, and is paying […]