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

Posted: Sat Dec 30, 2006 12:18 am
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).

Posted: Sun Nov 18, 2007 1:05 pm
by David A. Szwak
1. McAdams v. Citifinancial Mortg. Co., Inc. of NY,
Not Reported in F.Supp.2d, 2007 WL 141128, M.D.La., January 16, 2007 (NO. CIV.A.06 27 A)

...of a debt in default solely for the purpose of facilitating collection of such debt for another. 15 U.S.C.A. § 1692a(4) Analysis Consideration of the Plaintiffs' Supplemental Brief Defendant asserted that the plaintiffs were permitted to file a supplemental opposition memorandum...

...a loan but later obtained the debt while it was in default.FN 30 Satisfying the definition of “creditorâ€