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Mortgage Servicing and Loan Modifications: WEST VIRGINIA

W. Va. Code § 31-17-9(d)

Requirements: Holder shall provide without charge to the borrower within three business days after receipt of the borrower’s written request, a payoff statement in manner requested by borrower.

Fair Debt Collection: Civil liability

The committee views this legislation as primarily self-enforcing; consumers who have been subjected to collection abuses will be enforcing compliance.

Fair Debt Collection: Administrative enforcement

This legislation is enforced administratively primarily by the Federal Trade Commission. If a depository institution subject to regulation by another Federal agency engages in debt collection, administrative enforcement authority is lodged with that agency. [Page 6]

Fair Debt Collection: Relation to State law

The Committee believes that this law ought not to foreclose the States from enacting or enforcing their own laws regarding debt collection. Accordingly, this legislation annuls only “inconsistent” State laws, with stronger State laws not regarded as inconsistent. In addition, States with substantially similar laws may be exempted from the act’s requirements (but not its remedies) by applying to the Federal Trade Commission.

Fair Debt Collection: Cost of This Legislation

Enactment of this legislation will result in no new or additional costs to the Federal Government. The Congressional Budget Office analysis of this bill is contained in the following letter:

CONGRESSIONAL BUDGET OFFICE,

U.S. CONGRESS,

Washington, D.C., July 27, 1977.

HON. WILLIAM PROXMIRE,

Chairman, Committee on Banking, Housing, and Urban Affairs,

U.S. Senate, Washington, D.C.

Fair Debt Collection: Changes in Existing Law

In the opinion of the Committee, it is necessary to dispense with the requirements of subsection 4 of Rule XXIX of the Standing Rules of the Senate in order to expedite the business of the Senate. [Page 7]

Fair Debt Collection: Section-by-Section Summary

Section 801. Short title.—The act may be cited as the “Fair Debt Collection Practices Act.”

Section 802. Findings and purpose.—The Congress finds that collection abuses by independent debt collectors are serious and widespread and that existing State laws are inadequate to curb these abuses. The purpose of the title is to eliminate abusive practices, not disadvantage ethical debt collectors, and promote consistent state action.

Fair Debt Collection: Additional Views of Messrs. Schmitt, Garn and Tower

It is our view that the Fair Debt Collection Practices Act is an unwarranted Federal intrusion into an area best left to the States. Although we recognize that some debt collectors employ unconscionable practices in collecting debts, we do not feel that the hearings in either the House or Senate subcommittees produced substantial evidence that there is a serious national problem which justifies such detailed Federal regulation of the operation of the business of collecting debts. A far better approach is that contained in S.

Repossessions: § 3914. Extension of protections to citizens serving with allied forces

A citizen of the United States who is serving with the forces of a nation with which the United States is allied in the prosecution of a war or military action is entitled to the relief and protections provided under this chapter if that service with the allied force is similar to military service as defined in this chapter. The relief and protections provided to such citizen shall terminate on the date of discharge or release from such service.

Repossessions: § 3916. Information for members of the Armed Forces and their dependents on rights and protections of the Servicemembers Civil Relief Act

(a) Outreach to members

The Secretary concerned shall provide to each member of the Armed Forces under the jurisdiction of the Secretary pertinent information on the rights and protections available to members and their dependents under the Servicemembers Civil Relief Act.

(b) Time of provision

The information required to be provided under subsection (a) to a member shall be provided at the following times:

Repossessions: § 3917. Extension of rights and protections to reserves ordered to report for military service and to persons ordered to report for induction

(a) Reserves ordered to report for military service

A member of a reserve component who is ordered to report for military service is entitled to the rights and protections of this subchapter and subchapters II and III [of this chapter] during the period beginning on the date of the member’s receipt of the order and ending on the date on which the member reports for military service (or, if the order is revoked before the member so reports, or the date on which the order is revoked).

Repossessions: § 3919. Exercise of rights under chapter not to affect certain future financial transactions

Application by a servicemember for, or receipt by a servicemember of, a stay, postponement, or suspension pursuant to this chapter in the payment of a tax, fine, penalty, insurance premium, or other civil obligation or liability of that servicemember shall not itself (without regard to other considerations) provide the basis for any of the following:

(1) A determination by a lender or other person that the servicemember is unable to pay the civil obligation or liability in accordance with its terms.

Repossessions: § 3933. Fines and penalties under contracts

(a) Prohibition of penalties

When an action for compliance with the terms of a contract is stayed pursuant to this chapter, a penalty shall not accrue for failure to comply with the terms of the contract during the period of the stay.

(b) Reduction or waiver of fines or penalties

Repossessions: § 1692f. Unfair practices

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

* * *

(6) Taking or threatening to take any nonjudicial action to effect dispossession or disablement of property if—

Repossessions: Introduction and Listing of Provisions

The Servicemembers Civil Relief Act, formerly codified at 50 U.S.C. app. §§ 501 to 597b, has been recodified at 50 U.S.C. §§ 3901 to 4043. The text of the Act may include references to former Title 50 Appendix sections, which should now be revised to refer to the corresponding sections of Title 50. The statutory citation lists found at the end of each section noting the source(s) of that section remain unaltered.

Title 50—War and National Defense

Chapter 50—Servicemembers Civil Relief

Repossessions: § 3902. Purpose

The purposes of this chapter are—

(1) to provide for, strengthen, and expedite the national defense through protection extended by this chapter to servicemembers of the United States to enable such persons to devote their entire energy to the defense needs of the Nation; and

Repossessions: § 3911. Definitions

For the purposes of this chapter:

(1) Servicemember

The term “servicemember” means a member of the uniformed services, as that term is defined in section 101(a)(5) of Title 10 [United States Code].

(2) Military service

The term “military service” means—

(A) in the case of a servicemember who is a member of the Army, Navy, Air Force, Marine Corps, or Coast Guard—

Repossessions: § 3932. Stay of proceedings when servicemember has notice

(a) Applicability of section

This section applies to any civil action or proceeding, including any child custody proceeding, in which the plaintiff or defendant at the time of filing an application under this section—

(1) is in military service or is within 90 days after termination of or release from military service; and

(2) has received notice of the action or proceeding.