Debt-Collector Rules Clarified By NJ Appellate Court

Law360, Los Angeles (March 5, 2014, 6:59 PM EST) -- A New Jersey appeals court clarified rules about debt collection on Wednesday, finding that while debt collectors who bought the rights to service loans from the original creditor must show they have the right to receive payments, they don’t have to demonstrate every buyer of the debt since its origination.

In a consolidated opinion covering two appeals, the court gave interpretations of New Jersey laws that govern credit law, finding that debt holders don’t have to alert borrowers of their new servicer and may keep records...
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