DEBT COLLECTORS’ NEW CREDIT REPORTING POLICY SHORTENS TIME FOR NEGATIVE CREDIT INFORMATION

Debt Collectors' New Credit Reporting Policy Shortens Time for Negative Credit Information on Consumers' Credit Reports Encore Capital Group, Inc. announced a change in its credit reporting policies for consumers.  Encore's subsidiaries include: Midland Credit Management; Midland Funding, Asset Acceptance; Atlantic Credit & Finance. According to the Encore press release, "A significant challenge with current [...]

CFPB TAKES ACTION AGAINST EQUIFAX AND TRANS UNION CREDIT BUREAUS

The Consumer Financial Protection Bureau (CFPB) took action against Equifax, Trans Union and their subsidiaries for deceiving consumers about the usefulness and actual cost of credit scores sold to consumers.  According to the CFPB papers, Equifax and Trans Union also lured consumers into costly recurring payments for credit related products with false promises. The CFPB ordered [...]

CFPB KEEPS ENFORCEMENT POWER

The U.S. Court of Appeals for the District Court of Columbia held the Consumer Financial Protection Bureau (CFPB) can keep its powers.  On October 11, the court of Appeals held that while the CFPB's single director director removable only for cause structure is unconstitutional,  other portions of the statute authorizing the CFPB are constitutional.  In PHH Corp. [...]

ADKINS FIRM CELEBRATES 1 YEAR ANNIVERSARY – ID THEFT ADVOCATE

ADKINS FIRM CELEBRATES 1 YEAR ANNIVERSARY The Adkins Firm is celebrating its one year anniversary.  The Adkins Firm represents identity theft victims and consumer with credit or background report errors under the Fair Credit Reporting Act (FCRA).  The FCRA requires consumer reporting agencies and creditors and employers to comply with federal law, including reasonable investigations [...]

ID THEFT LAWYER, MICAH ADKINS RECOGNIZED BY SUPER LAWYERS AS 2014 RISING STAR

Super Lawyers, a national lawyer rating service, recognized Micah Adkins as a 2014 Rising Star for Consumer Law.  The selection process included identification of professional achievement by peer evaluations and independent research.  The Super Lawyer recognition is limited to 5% of the  lawyers in the state.  Super Lawyers Magazine is published in all 50 states and Washington, D.C., [...]

WHAT IS A SECURITY FREEZE ON MY CREDIT FILE?

What is a security freeze on my credit file?  A security freeze on your credit file prevents creditors, employers and insurance companies from obtaining your credit file.  The security freeze protects consumers' privacy and helps to ensure new credit accounts are not opened in their name and without their knowledge.  Identity theft victims may place a security [...]

TARGET CREDIT MONITORING REQUIRES CUSTOMERS TO GIVE UP RIGHT TO JURY TRIAL

Target is offering customers credit monitoring and ID theft insurance for one year.  What the credit monitoring service takes away from consumers may be more important than the information provided by the services. Target partnered with Experian and is offering credit monitoring and ID theft insurance to over 100 million consumers.  Customers may sign up online for the one-year membership - point, [...]

IDENTITY THEFT RIGHTS & THE FAIR CREDIT REPORTING ACT

Consumers have identity theft rights under the Fair Credit Reporting Act.  Under the Fair Credit Reporting Act, consumers have the right to request their free credit report if they have reason to believe they are a victim of fraud or identity theft. The right to a free report due to identity theft is in addition [...]