Mortgage Debt Collectors Third Party Bounty Hunters Verses State Bounty Hunters
There are two types of bounty hunters: mortgage debt collectors and registered State bounty hunters. The mortgage debt collectors, third party bounty hunters for a fee, are your bank servicer and the Trustee of the commercial Trust that your mortgage loan was sold into. The State bounty hunters are the bail bondsman and a limited surety agent or skip tracer to apprehend fugitives.
If you’re behind in paying your bills, or a creditor’s records mistakenly make it appear that you are, a debt collector or their attorney may be contacting you.
The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the Fair Debt Collection Practices Act (FDCPA), which prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from you. Among these prohibited conduct includes, Reporting false information on a consumer’s credit reports or threatening to do so in the process of collection as the servicer and Investor of a mortgage and/or note does against the FDCPA.
Under the FDCPA, 15 U.S.C. §1692-1692p, a debt collector is someone who regularly collects debts owed to others that establishes legal protection from abusive debt collection practices.
This includes collection agencies, lawyers who collect debts on a regular basis, companies that buy delinquent debts and then try to collect them, or a bank that claims an interest in a mortgage loan as the servicer in order to collect the monthly payments for the 토토사이트 Trustee of the Trust who collects the payments from the servicer to give to the Investors who purchased the stock certificates in the many classes in the Trust where your mortgage and note are.
The Act covers personal, family, and household debts, including money you owe on a personal credit card account, an auto loan, a medical bill, a utility bill, or your mortgage loan. The FDCPA doesn’t cover debts you incurred to run a business.
If a debt collector files a lawsuit or mortgage foreclosure default against you to collect a debt, respond to the lawsuit within the 20 day limit in most States, either personally or through your lawyer, by the date specified in the court papers to preserve your rights under Preservation of Rights, UCC Article 3, §3-103.6.
There is no difference between these mortgage debt collectors and bounty hunters who hunt for fugitives.
In Florida, for example, it is illegal to refer to yourself as a bounty hunter. In fact, the only 2 legal descriptions of bail enforcement agents in Florida are a limited surety agent and a professional bail bondsman.
Florida’s surety agents, like all bounty hunters, make their arrests on the authority of a common law principle known fittingly as Right of Arrest, a tradition that holds fugitives of the law subject to apprehension through a number of legal methods. Proper arrest by a licensed bounty hunter is one acceptable means by which justice is ultimately served. Too bad we cannot arrest the mortgage bankers and bring them to justice for their fraudulent actions in mortgage foreclosure cases, isn’t it?
Aggrieved consumers may also file a private lawsuit in the form of a quiet title action in a State court to collect damages (actual, statutory, attorney’s fees, and court costs) from third-party debt collectors such as bank mortgage servicers or Trustees of a commercial trust that are trying to wrongfully foreclose on your home or commercial property.