The U.S. Court of Appeals for the Seventh Circuit recently ruled that an auto repossession company's alleged demand that a debtor pay an administrative property retrieval fee to retrieve personal property left in her repossessed car was not subject to the Fair Debt Collection Practices Act (FDCPA).
Issues surrounding the disposition of and charges related to personal property left in a repossessed vehicle are ubiquitous. Significantly, the Seventh Circuit has indicated that these issues do not necessarily involve the application of federal and state debt collection laws. But it is important for creditors and collectors to note that the court's analysis is at odds with that of the Consumer Financial Protection Bureau (CFPB).
FDCPA Doesn't Apply to Repossessor's Demand for Retrieval Fee
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- Written by: Alan S. Kaplinsky, Christopher J. Willis, Stefanie H. Jackman and John L. Culhane, Jr. for The National Law Review
- Category: Breaking News - Daily