Account Recovery

MAY 10, 2022

JUDGE AWARDS PLAINTIFF’S COUNSEL $206K IN FCRA CASE A District Court judge has partially lowered the attorney’s fees in a Fair Credit Reporting Act case, but only by 10%, which kept the total award to more than $206,000, $70,000 more than what the defendant sought to pay.

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Account Recovery

JANUARY 17, 2022

PEACHTREE CORNERS, GA — The First Financial Asset Management (FFAM360) family of companies, a world-class organization providing revenue-centric solutions to specifically address all phases of the credit and revenue lifecycle, is pleased to announce the addition of Daniel J. Mr. McCusker has over 20 years of … The post Daniel J.

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Account Recovery

JULY 16, 2021

A District Court judge in Michigan has granted a defendant’s motion for summary judgment in a Fair Credit Reporting Act case while also denying the defendant’s motion for sanctions, but noting that he was “troubled” by the plaintiff’s counsel’s conduct in the case and “expressly” warning that “continuing (..)

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Judgment Credit Unions Credit Unions 246

Account Recovery

JULY 29, 2022

Nearly one-quarter of households in the United States have no emergency savings and 28% have some, but not enough to cover three months of living expenses, according to the results of a poll released by American Consumer Credit Counseling.

Consumer Credit 246

Consumer Credit 246

Account Recovery

MAY 10, 2022

A District Court judge has partially lowered the attorney’s fees in a Fair Credit Reporting Act case, but only by 10%, which kept the total award to more than $206,000, $70,000 more than what the defendant sought to pay. A copy of the ruling in the case of Ramones v.

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Account Recovery

OCTOBER 5, 2023

The General Counsel and Senior Advisor to the Director of the Consumer Financial Protection Bureau game a speech yesterday to consumer advocates in New Jersey where he discussed in great detail the Bureau’s efforts to regulate medical debt and the new proposal to eliminate medical debts from consumers’ credit reports, while also sharing (..)

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Collections 100

Nexa Collect

JUNE 23, 2023

Impact on Credit Score : If a collection agency reports the debt to credit bureaus, it can negatively affect the debtor’s credit score. This makes it harder for them to get loans, credit cards, or sometimes even jobs in the future. They may also look into options like debt consolidation or bankruptcy.

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Sawin & Shea

APRIL 27, 2021

As part of that process, the bankruptcy law requires that you get a certificate that evidences you did a pre-filing counseling session with an approved agency. Debt counseling (also called credit counseling) is required before you can declare bankruptcy. There is a pre-filing counseling and pre-discharge counseling.

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Bankruptcy Chapter 13 bankruptcy Education Debt Management 98

Troutman Sanders

APRIL 13, 2023

Please join Troutman Pepper Partner Chris Willis and his colleague Vin Thomas as they discuss what it’s like to be a general counsel of a financial services company, based on Vin’s long experience as a financial services general counsel. Transcript: A Day in the Life of a Financial Services General Counsel (PDF)

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Nerd Wallet

AUGUST 28, 2020

offers many common credit counseling services by phone or online, including debt management plans, student loan counseling and housing counseling. Consumer Education Services Inc. CESI is headquartered in Raleigh, North Carolina, and offers services in all 50 states and Puerto Rico. CESI offers.

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Education Student loans Student Loans Debt Management 96

Credit Corp

FEBRUARY 9, 2024

Debt relief won’t hurt your credit alone. Debt relief and debt settlement options don’t hurt your credit score on their own. These programs aim to help reduce your debt and if that debt is revolving credit, it can reduce your credit utilization and improve your credit. Each debt relief option has its pros and cons.

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Credit Counselor Debt Consolidation Debt settlement Bankruptcy 52

Titan Consulting

SEPTEMBER 22, 2020

All types of debt relief programs come with negative consequences, including non-profit credit counseling and bankruptcy, and will directly or indirectly negatively impact your credit score. Consumers in need of debt relief have three primary options to reduce their debt: credit counseling, debt settlement, or bankruptcy.

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Troutman Sanders

JANUARY 20, 2022

This case is a consolidated appeal of multiple decisions from the Eastern District of Pennsylvania, granting dispositive motions in favor of defendants on “Pay Status” claims under the Fair Credit Reporting Act (FCRA). Bibbs’ counsel argued, however, that the accuracy of “Pay Status” reporting turns on the date that a credit report is pulled.

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Fair Debt Collection Lawyers Creditors Collections 52

Debt Free Colorado

JANUARY 20, 2024

This results in quick resolution and potential credit score improvement. The process is longer and it can impact credit. Individuals can work to rebuild credit over time. You can also seek guidance from credit counseling agencies, medical billing advocates, and government assistance.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Collection Industry News

FEBRUARY 21, 2022

If you’re just making the minimum payments on your credit cards, it may be worthwhile to consider one of these debt repayment strategies. Americans are racking up credit card debt at a record-setting pace, according to the Federal Reserve Bank of New York. Outstanding credit card debt is still about 7.7% Source- site.

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Credit Card Debt Debt Consolidation Credit Counselor Personal loans 52

Debt Guru

JUNE 3, 2020

Sign up for consumer credit counseling. Reach out to a credit counseling agency. Your credit counselor will likely get you a lower minimum payment and lower interest rates. A possible negative is that when you’re working to pay down a DMP, you won’t have access to your credit cards.

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Debt Consolidation Credit Counselor Unsecured Debt Loans 98

Fico Collections

JULY 15, 2021

A core pillar of promoting and sustaining widespread access to credit is ensuring high levels of financial literacy. And FICO has made credit education a core pillar of our Financial Inclusion Initiative , helping consumers learn more about their credit and achieve their dreams. Unfortunately, the U.S. HOPE Inside.

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Nexa Collect

JUNE 26, 2023

Debt : Americans tend to have high levels of consumer debt, including credit card debt, auto loans, and mortgages. There are resources and strategies available for managing financial stress, such as creating a budget, seeking financial advice, and finding support through counseling or community groups. Consumer Culture : The U.S.

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Healthcare Education Student loans Student Loans 130

BN Lawyers

JUNE 21, 2023

ARM has streamlined the process for accessing ethics CLE presentations and updated the distribution of attendance certificates in all jurisdictions requiring CLE credits. Getting mandatory ethics credit has never been easier for lawyers. For more information, please contact the ARM program administrator, Linda Schmit.

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Lawyers 40

Troutman Sanders

MAY 2, 2023

CFS Associate Addison Morgan represents several of the nation’s preeminent financial institutions in litigation arising under the Fair Credit Reporting Act, Telephone Consumer Protection Act, Fair Debt Collection Practices Act, Federal Trade Commission Holder Rule, and other consumer protection state analogs.

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Financial Institution Fair Debt Collection Financial services Law Firms 97

Roths Child Law

APRIL 30, 2021

Failure to complete credit counseling. Anyone who wishes to have their debts discharged in a Chapter 7 bankruptcy must go through court-required credit counseling. If they are, then the court assumes that you're truly unable to pay your bills. (If A recently dismissed case.

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Sawin & Shea

APRIL 10, 2024

You’ll then be able to discharge the balance of eligible debts, such as credit card debt and medical bills. Credit Counseling Before you file your Chapter 7 bankruptcy petition, you’ll need to complete a credit counseling course through an approved counseling agency.

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Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

Better Credit Blog

APRIL 11, 2022

Some examples of debt are mortgages, credit card dues, and personal loans. In other cases, such as credit card debt, it’s seen as a hardship and can have a negative impact. Here are a few examples to consider: Debt can increase your credit utilization rate. To calculate your credit utilization rate, divide $4,000 by $6,000.

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Debt Consolidation Debt settlement Credit Card Debt Bankruptcy 74

BN Lawyers

AUGUST 17, 2023

These include pre-petition credit counseling, satisfying a means test for above-median debtors, and post-petition financial education. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) added new responsibilities for consumer debtors. appeared first on Barron & Newburger, P.C.

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Debtor Education Bankruptcy 52

Collection Industry News

JANUARY 24, 2022

This case is a consolidated appeal of multiple decisions from the Eastern District of Pennsylvania, granting dispositive motions in favor of defendants on “Pay Status” claims under the Fair Credit Reporting Act (FCRA). Bibbs’ counsel argued, however, that the accuracy of “Pay Status” reporting turns on the date that a credit report is pulled.

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Fair Debt Collection Lawyers Creditors Collections 40

The Kaplan Group

JUNE 15, 2020

If a collection agent has a legitimate reason to believe that you owe the money, they can contact you repeatedly, report you to credit bureaus, and even refer your file to an attorney or start litigation. Debt Counseling. You could easily end up in a far worse situation than if you work to solve the problem.

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Troutman Sanders

JULY 21, 2022

She regularly counsels clients on conducting compliance assessments relating to their debt collection, credit reporting and dispute resolution processes, fair lending and underwriting, and vendor oversight, as well as the functionality of their overall compliance management system.

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Debt collector Fair Debt Collection Financial services Banks 52

Sawin & Shea

JANUARY 11, 2024

Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. They cover topics like creating a budget, using credit wisely, and avoiding financial pitfalls down the road. Staring down mountains of debt can feel overwhelming.

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Education Debtor Bankruptcy Chapter 13 bankruptcy 52

Roths Child Law

OCTOBER 19, 2021

You’ll go through credit counseling in most cases, and you’ll learn better ways to manage your money. You may not be able to take out a loan or to get credit. At the same time, you should have more free income that can help you stay stable while your credit score improves. Look into secured credit cards.

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Sawin & Shea

JANUARY 18, 2023

After gathering all necessary documents, you must undergo an approved credit counseling session within 180 days of filing. You’ll also need to supply the court with a certificate indicating that you’ve undergone credit counseling. Finally, you’ll file a petition for Chapter 7 bankruptcy.

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Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 81

Troutman Sanders

OCTOBER 6, 2022

Please join Troutman Pepper Partner Chris Willis and his guest and fellow Partner Glen Trudel as they discuss credit card rewards and loyalty programs and the co-brand relationship. Transcript: Rewards Programs and Co-Brand Relationship Between Credit Card Issuers and Merchants (PDF).

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Acquisition Financial Institution Lender Financial services 52

Collection Industry News

DECEMBER 13, 2023

LOS ANGELES/NEW YORK, Dec 20 (Reuters) – Roxanne Ross of Florida is one of a growing number of Americans dodging higher interest rates on credit cards by instead turning to “buy now, pay later” services as they shop for holiday merchandise. In comparison, credit card processing “swipe” fees run 2% to 4%.

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Retail Loans Credit Card Debt Construction 40

Collection Industry News

JUNE 5, 2022

The Consumer Financial Protection Bureau (CFPB)’s decision to establish supervisory powers over nonbank financial institutions will level the playing field and subject those companies to much-needed scrutiny, credit union trade groups informed the agency Tuesday. Response From Credit Union Trade Groups. Background.

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Credit Unions Credit Unions Trade Financial Institution 75

Troutman Sanders

JULY 13, 2023

The updated AABD Handbook addresses the dramatic shift in the regulatory landscape for enforcement of the federal fair lending laws over the past decade, with aggressive enforcement of the Equal Credit Opportunity Act and Fair Housing Act by federal agencies (including the CFPB, U.S.

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Banks Law Firms Education Government 52

Sawin & Shea

MARCH 6, 2024

Before making a decision, you should carefully evaluate your options based on your financial situation, income level, credit history, and types of debt. Debt consolidation will likely have a short-term impact on your credit score, but it should recover as you begin making payments. How Does Debt Consolidation Work?

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Sawin & Shea

MARCH 13, 2024

Before filing, you’ll need to undergo credit counseling. You are required to complete credit counseling with an approved agency within 180 days of filing. Once you prepare all necessary forms and complete credit counseling, you or your lawyer will file your bankruptcy petition.

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Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

Sawin & Shea

FEBRUARY 7, 2024

Additionally, you’ll need to ask for your required credit counseling and financial management class fees to be waived as well. These fees are typically less than $50 combined, but you can contact the agency or organization administering the counseling and financial management class if you can’t afford them.

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