Justices To Resolve Clash Over Stale Debt In Bankruptcy
Law360, New York (October 12, 2016, 8:07 PM EDT) -- The U.S. Supreme Court is set to resolve a clash between consumer protection and bankruptcy law after agreeing to weigh in on whether professional debt collectors may lawfully pursue stale debts in bankruptcy in an appeal that could expose debt-buying firms to new liability for a practice that critics of the industry say exploits the limited means of individual debtors.
Justices agreed Tuesday to hear an appeal brought by Midland Funding LLC, one of the largest purchasers of unpaid debt in the United States. The appeal challenges an Eleventh Circuit decision that found Midland potentially liable under the Fair Debt Collection...
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