Article- Stifler, Lisa and Parish, Leslie, The State of Lending: Debt Collection& Debt Buying

Summary: This is an excellent primer from the Center for Responsible Lending for understanding debt buyer industry, as well as a overview of various federal and state laws and regulations and policy recommendations. Commentary: North Carolina is appropriately given pride of place for being the first state to enact the novel requirement that debt buyers to actually prove the debts using admissible evidence. See N.C.G.S. § 5870-150 et. seq.. This article, however, continues the unfortunate tradition of previous examinations of debt buyers in failing to address the overwhelming number of Proofs of Claims filed by debt buyers in consumer bankruptcy cases. For a copy of the article, please see: The State of Lending Debt Collection& Debt Buying