Select Page

Virtual Training on Assignment Forms RSVP

Lunch & Learn

We recently announced that we have updated our assignment forms to request new information that is needed for compliance with Regulation F (Debt Collection Rule). Accordingly, we wanted to provide some virtual training for our clients who regularly use our assignment forms to send us a collections, replevin, or foreclosure matter. (The bankruptcy assignment forms were not changed.) We will host two complementary training sessions via Zoom. Each training will cover the same material, so it is only necessary to attend one.

The first training will be held on December 13th at 2:00 p.m. EST. The second training will be held on December 16th at 3:00 p.m. EST. You will need to RSVP for the training. Your RSVP will need to be sent to Whitney via email at whitneyw@svllaw.com. Upon receipt of your email, Whitney will send you the passcode to attend.

You will Not Get the Passcode
without Sending an RSVP.

December 13 – 2:00 pm (EST):

https://svllaw.zoom.us/j/8506335847?pwd=T1dLaXkxakVhTm9oMG1tNVMxTndiUT09&from=addon

Meeting ID: 850 633 5847
Dial by your location
+1 929 436 2866 US (New York)
Meeting ID: 850 633 5847
Find your local number: https://svllaw.zoom.us/u/kbS7lj8G37

December 13 – 3:00 pm (EST):

https://svllaw.zoom.us/j/83553013774?pwd=djRxTGNVS1ZNSXpWb3lOQ2ZhS3FRQT09&from=addon

Meeting ID: 835 5301 3774
Dial by your location
+1 929 436 2866 US (New York)
Meeting ID: 835 5301 3774
Find your local number: https://svllaw.zoom.us/u/kbedRrqIEh

Please make sure to use our new assignment forms. If you have any questions, feel free to reach out to one of our legal assistants or you may contact Whitney in our office.

If you have any questions, please email Whitney at

WhitneyW@svllaw.com

Changes to SVL Assignment Forms

Lunch & Learn

We want to let our clients know that we have updated our assignment forms. The new forms are available on our website and can be found here svllaw.com/resources/

The changes were made in consideration of Regulation F that recently took effect. Under Regulation F, a debt collector (which includes our law firm), must send an initial notice to the consumer advising them of their rights. This notice includes a validation of the debt. The validation of the debt information requires that we provide an itemization of the debt on the “itemization date.” The “itemization date” is defined as one of the following: (1) the charge-off date; (2) the date of last payment (the date that the last payment was applied to the debt or loan); (3) the transaction date (the date of the transaction which gave rise to the debt); or (4) the date of the judgment (if a judgment has been obtained).

As such, our firm had to update our assignment forms to seek the loan amounts as of a date that is consistent with the definition of itemization date in Regulation F. In the case of a charged-off loan, we will use the charge-off date. In the case of a loan that has not been charged-off, we will use the date of last payment. In the case of deficiency on sale of collateral, the itemization date will be the sale date (transaction date).

To assist our clients further with completing these new assignment forms, we will be hosting two virtual trainings via Zoom to cover the new assignment forms. There will be a separate email sent out announcing these training events.

Please make sure to use our new assignment forms. If you have any questions, feel free to reach out to one of our legal assistants or you may contact Whitney in our office.

WhitneyW@svllaw.com(850) 633-5831

Eleventh Circuit Scrapes Hunstein Opinion

On April 21, 2021, the Eleventh Circuit Court of Appeals issued a decision in the case of Hunstein vs. Preferred Collection and Management Services. The Court found that the debt collector’s use of a third-party mail vendor violated the Fair Debt Collection Practices Act. This ruling resulted in an increase in lawsuits against debt collectors (third-party agencies) and raised similar compliance concerns for creditors under the Florida Consumer Collections Practices Act. A copy of our original summary of this Court opinion can be found here.

On Wednesday, November 17, 2021, the Eleventh Circuit Court of Appeals issued an order vacating the previous decision. Additionally, the Court issued an order to rehear the case before the full Court panel. The original case was heard before a panel of three judges. Now the case will go before the full panel of judges. The rehearing date has not been set.

The effect of the Court’s action is that the prior opinion of the court is no longer valid and does not have authority over lower courts. We will continue to monitor this matter and will provide updates as this case moves forward.