What Is The Definition Of A Debt Collector According To The Supreme Court?
What is the debt collector definition according to the supreme court? In today’s episode, Alex and Spencer discuss the grey area of the supreme court’s debt collector definition.
The Key Points
- In 2008, a Colorado man defaulted on his home loan. Wells Fargo contracted with an attorney to resolve this. The attorney attempts to repossess his home and at that point, it violated the FDCPA however they argued this was legal because they were not a collection agency.
- The assumption going into this was that law firms repossessing property aren’t held to the same standards of the FDCPA because they’re not actually collecting on debt, they’re collecting property and right now it’s split down the middle.
- Either way, a ruling would be great to clear up this gray space altogether. It affects a lot of people and it’ s good to get a policy in place.
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