Author Topic: Abbreviations Used - How to translate  (Read 20062 times)

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Flyingifr

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Abbreviations Used - How to translate
« on: October 16, 2005 10:12:51 PM »
AoC = ArtofCredit -A now-defunct consumer credit repair board which was the original "Litigation Central" (focused on consumer debt and credit litigation).

CA = Collection Agency

CB = CreditBoards = 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.htm

OC = 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.

RFPRequest 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.
« Last Edit: May 22, 2010 03:21:14 PM by Admin9541 »
BTW-the Flyingifr Method does work. (quoted from Hannah on Infinite Credit, September 19, 2006)

I think of a telephone as a Debt Collector's crowbar. With such a device it is possible to pry one's mouth open wide enough to allow the insertion of a foot or two.

Morality of Debt? No one ever went to the Nether Regions for not paying a debt.

Founder of the Credit Terrorist Training Camp (Debtorboards)

 

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