Remove Foreclosure Remove Garnishment Remove Government Remove Judgment
article thumbnail

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Currently set to expire on February 1, the collection actions subject to the moratorium include garnishment, attachment, and levy.

article thumbnail

COVID-19 Collections Impact Bulletin: State Responses (December 2020 Update)

Burr Forman

With new and impending changes in both the economic and political landscape, financial institutions have had to adapt to ever-changing policies governing consumer loan servicing and debt collection. The new bill issued a moratorium on evictions, foreclosures, and repossessions, which expired on June 30, 2020.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Dealing With Debt From COVID-19

Debt Free Colorado

You can work directly with the mortgage lender on a loan modification, or reach out to the Colorado Foreclosure Hotline for free assistance. If you own a home the consequences of a judgment against you are more significant as judgment creditors can place liens against your home. Guide to Coronavirus Mortgage Relief Options.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. For more information, click here.

article thumbnail

Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Short foreclosure protection – When your home is faced with foreclosure, the automatic stay is not in effect indefinitely. Complete protection from creditors – This includes wage garnishment and debt collection. medical debt .

article thumbnail

Debt Collectors Are Thriving This Year – And Now They’re Filing Even More Suits

Collection Industry News

It primarily had the CARES Act to thank: The bill delivered hundreds of billions of dollars worth of stimulus checks and bulked-up unemployment benefits to Americans, while easing pressures on them by halting foreclosures, evictions and student loan payments. The company said it had stopped seeking orders to garnish bank accounts.

article thumbnail

10 Common Questions About Bankruptcy

Debt Free Colorado

A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. Are you at risk of falling into foreclosure, being evicted, or having your utilities cut off? Do Bankruptcies Come in Different Types? What Can’t Bankruptcy Do?