First Party Creditors:Can They Be Debt Collectors Under Act?

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David A. Szwak
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Joined: Thu Jul 13, 2006 11:19 pm

First Party Creditors:Can They Be Debt Collectors Under Act?

Post by David A. Szwak »

Persons who collect their own debts are specifically excluded from the FDCPA.

First party collectors can lose their exemption from coverage under the FDCPA if they engage in any conduct which would lead the least sophisticated consumer to believe that a third party is collecting a debt. McGuire v. Citicorp Retail Services, Inc. 97-7755 (2d Cir.July 1, 1998).
David Szwak
Chairman, Consumer Protection Section, Louisiana State Bar Association
Bodenheimer, Jones & Szwak
509 Market Street, 7th Floor
Mid South Tower
Shreveport, Louisiana 71101
318-221-6444
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