AoC =
Art
of
Credit -A now-defunct consumer credit repair board which was the original "Litigation Central" (focused on consumer debt and credit litigation).
CA =
Collection
Agency
CB =
Credit
Boards = A credit and collections discussion board which is very large and active; one of the older ones still existing.
CC =
Credit
Card
C&D or Limited C&D =
Cease
& Desist - Stop contacting me in any way. A limited C&D would limit communication to the US Mail and would contain a statement that all calls to any phone, are inconvenient. The word "inconvenient" is necessary because that is how it is worded in the statute.
CMRRR =
Certified
Mail
Return
Receipt
Requested - A form of certified mail in which a consumer requests, at the time of mailing, that a postcard receipt be returned once the mail is claimed by the recipient. (This postcard is referred to as a "green card" because it's...green.)
CO =
Charge-
Off
CRA =
Credit
Reporting
Agency
DH-
dear
husband
DW-
dear
wife
DD-
dear
daughter (and similar terms of affection) = Self-explanatory.
DJ =
Default
Judgment
DV =
Debt
Validation - A request--best done in in writing--by the consumer to a debt collector for "validation" (actually "verification") of a debt per the FDCPA, §809 [§1692g]. Also "VoD" ("validation of debt").
FACTA =
Fair and
Accurate
Credit
Transactions
Act a 2004 amendment to FCRA
FCRA =
Fair
Credit
Reporting
Act - a Federal Law governing Credit Bureaus and Credit Reports (see also FACTA)
FDCPA =
Fair
Debt
Collection
Practices
Aact - a Federal law governing Collection Agencies Junk Debt Buyers and Collection Attorneys that defines what they may and may not use as collection tactics and actions.
FOAD = (vulgar)
F***
Off
And
Die - Vulgar slang/term of art referring to a "Cease and Desist" ("C&D") letter (cease contact letter).
GLBA =
Graham-
Leach-
Bilely
Act; also refers to the privacy notice creditors and collectors must provide to the consumer under the Act.
GOTFP = "
Get
off
the
'F' (vulgar)
phone." - A CA's boss' order to a collector when they are spending too long on the phone with a client (or anyone). An 'amusing' "term of art" with at least one CA that posts here at DB. May also apply to the consumer when they are calling the collector; short and sweet works here, too.
ITS =
Intent
To
Sue - A threat to file a lawsuit if one's demands are not met, usually in the context of a letter (such as advising that you Intend to Sue for violation of some law).
JDB =
Junk
Debt
Buyer - purchases charged off accounts for pennies on the dollar and tries to collect 100 cents on the dollar plus interest and fees
LSC =
Least
Sophisticated
Consumer
MTC =
Motion
To
Compel
MTD =
Motion
To
Dismiss
MSJ =
Motion for
Summary
Judgment
NDA =
Non
Disclosure
Agreement. Parties agree to not disclose details of a settlement.
NAN =
National
Attorneys
Network - A group of attorneys formed by a CA who specialize in "creditors' rights" actions, particularly filing suits for OCs and collectors and/or providing legal referrals to creditors when their current counsel is not licensed to practice in a particular state.
http://www.tsys.com/services/tdm/nan.htmOC =
Original
Creditor. - The entity that created the debt with the debtor.
OOS =
Out
Of
Statute - An untimely legal action; a legal action filed after the time limit for filing such has passed in law and/or court rule. This acts as an affirmative defense if raised promptly (when answering a lawsuit).
OP =
Original
Poster - the person who started the thread
"Overshadowing" (no abbreviation) - Term of art which also is used in case law (not in statute). Refers to a situation in which the collector's demand for payment is more prominent than the required FDCPA §809 [§1692g] notice. This can lead the consumer to risk foregoing their validation rights because they either think that the rights don't apply to them or they don't notice the Notice for all the "noise".
PFD =
Pay
For
Delete - You pay a debt in return for its permanent deletion from your credit file. Contrary to what CA's will tell you there is absolutely no law prohibiting a PFD. The law (FCRA) says what they report must be accurate not that they must report anything or everything.
RFP =
Request
for
Proposals = A request by a business or government agency seeking outsourced services to such businesses to submit a proposal stating what services they can provide for the consideration of the business/agency.
SOL =
Statute
of
Limitations (referred to as "limitations" in law) - For our purposes, the time period during which it is permitted to file a legal action (lawsuit) and have it considered to be "timely" enough to be heard by a court of law.
SOR =
Statute
of
Repose - Statute law which states that once the statute of limitations for filing a "timely" lawsuit (legal action through the courts) has passed (time is up) the cause of action itself is extinguished. An example that would apply to us would be a creditor/CA that files a lawsuit to collect on a debt that is old enough that the statute of limitations for filing the suit has "run". In a state with a "statute of repose", the debt itself is legally rendered non-existent (it no longer exists) so they have no cause of action to begin with.
TL =
Trade
Line - an entry in your credit file
VoD =
Validation
of
Debt - See:
DV.
