Massachusetts Law Updates

Official Blog of the Massachusetts Trial Court Law Libraries

Tag Archives: debt collection

Attorneys Won’t Need to Register as Debt Collectors After All Posted on Apr 8

Just last week we reported on a requirement that attorneys whose primary business was debt collection register as debt collectors. On April 1, the Division of Banks changed its position. The agency has withdrawn its previous opinion letters and issued Opinion 013-018w, which says, in part:   …Continue Reading Attorneys Won’t Need to Register as Debt Collectors After All

Some Law Firms Must Register as Debt Collectors Posted on Mar 28

According to Mass. Division of Banks Opinions 13-018 and 16-002, “if a law firm’s principal purpose is the collection of debts, or where the firm regularly collects or attempts to collect debts owed or asserted to be owed to another, such law firm is required to   …Continue Reading Some Law Firms Must Register as Debt Collectors

What is Zombie Debt? Posted on Nov 4

The Federal Trade Commission described zombie debt as “a debt that you think is dead, gone, and forgotten, but has somehow come back to life”. The debt is obtained by collectors who purchase old debt from the original creditors and/or debt collection agencies for a minimal expense   …Continue Reading What is Zombie Debt?