Credit Corp

JUNE 12, 2023

Modifying the loan terms can make mortgage payments more affordable and sustainable for struggling homeowners. Modification Terms: The program aims to reduce your monthly mortgage payment to 20% or more below your pre-modification. Application Process: Apply to the Flex Modification Program through a loan servicer.

Loans 94

Loans Foreclosure Lender Government 94

American Profit Recovery

SEPTEMBER 8, 2023

The passage of time only makes debt collections more difficult Generally speaking, the more time passes, the harder it will be to collect the money owed to your business. One of the more common reasons is a dispute over the product or service they received. They may also disagree with the amount of the final payment for services.

Collections 230

Collections Bankruptcy Collection Agencies Collections Agency 230

Credit Corp

JULY 25, 2023

Understanding the terms and conditions of your loan agreement before attempting to pay it off with a credit card is crucial. Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. Can you pay a loan with a credit card?

Loans 96

Loans Student loans Student Loans Lender 96

Troutman Sanders

JULY 28, 2023

Previously, a license was required for a lender seeking to take advantage of the usury authority provided by the NILA and also for any person that holds or acquires any rights of ownership, servicing, or other forms of participation in a loan under the NILA. Legislative Bill 92 took effect on June 7, 2023.

Loans 52

Loans Banks Financial Institution Lender 52

Sawin & Shea

OCTOBER 6, 2021

If your mortgage is not federally backed, you would need to check with your service provider as they may offer other similar options. Generally, when changes are made to a Chapter 13 repayment plan, such as a mortgage forbearance, all parties must be notified. One such program was the COVID hardship forbearance program.

Bankruptcy 98

Bankruptcy Chapter 13 bankruptcy Lender Government 98

Nexa Collect

JULY 19, 2020

Customers expect to be billed for services rendered, of course, but that doesn’t mean they’re excited to receive them. Plus digital invoices can include direct links to online bill payment services, making it quick and easy for your customers to settle their debts. Try altering your invoicing process to include these suggestions.

Debt Recovery 147

Debt Recovery 147

Public Citizen

OCTOBER 13, 2020

Steiger Fellowship Project offers paid summer clerkships for law students to work on consumer protection issues in the offices of State Attorneys General across the country. The Janet D. A total of 425 Steiger Fellowships have been awarded through the summer of 2020. This Project continues to be a tribute to the memory of the late Janet D.

80

80

Hudson Weir

DECEMBER 6, 2023

With a total of 2,315 in October 2023, the number of insolvencies was 18% higher than for the same month in 2022, according to The Insolvency Service. With a total of 2,315 in October 2023, the number of insolvencies was 18% higher than for the same month in 2022, according to The Insolvency Service.

Creditors 59

Creditors Government 59

Nexa Collect

SEPTEMBER 16, 2020

This is generally true, but when it comes to invoicing, the devil is in the details omitted. Spell Out Your Payment Terms. Don’t assume that your customers will remember the payment terms you negotiated when your relationship first began. Instead, list specific terms on every invoice. List Services Rendered in Detail.

Retail 130

Retail Collection Agencies Collections Agency Collections 130

Troutman Sanders

MARCH 17, 2023

In February, Massachusetts Attorney General Joy Campbell announced a $6.5 According to the Consent Judgment , Safe Home Security provided home security monitoring services for a monthly fee over a fixed term, usually three or five years. The AG filed suit in December 2019, after receiving complaints from consumers.

Third-party Debt Collectors 52

Third-party Debt Collectors Collections Debt collector Judgment 52

Troutman Sanders

JANUARY 3, 2024

On December 22, Montana Attorney General Austin Knudsen issued an opinion on whether Earned Wage Access (EWA) products constitute either “consumer loans” under Montana Code § 32-5-102(2)(a) or “deferred deposit loans” under § 31-1-703. The Attorney General also looked at other federal authorities for guidance.

Loans 52

Loans Lender Collections 52

Troutman Sanders

JANUARY 26, 2023

On January 20, 2023, California Attorney General Rob Bonta submitted a letter to the CFPB agreeing with its preliminary determination that California’s Commercial Financing Disclosures Law (CFDL) is not preempted by TILA because the CFDL only applies to commercial financing and not to consumer credit transactions within the scope of TILA.

Financial services 52

Financial services Consumer Credit Financial Institution Government 52

Qualco

SEPTEMBER 12, 2023

These exposures involve borrowers who have extended their loan terms and are now at risk of facing difficulties meeting their obligations. The Asset-Driven Approach In the ever-changing financial environment, banks and servicers must adopt an Asset-Driven Approach to effectively manage loan portfolios and optimise recovery outcomes.

Collateral 104

Collateral Collections Financial Institution Loans 104

True Accord

JULY 6, 2021

The service, which allows consumers to split a purchase into several payments over a set period of time, has been popular in other countries and has been gaining traction in the U.S. consumers found that nearly two in five (39%) had used a BNPL service and predicted that BNPL volume will double by 2025.

Education 83

Education Retail Collection Companies Collections 83

FFGN COLLECT NY

JULY 18, 2023

In broad terms, a freelance worker is usually a solo worker. There needs to be a contract if the total of the services rendered within four months or so totals $800. If the agreement did not provide a payment date, the payment date is assumed to be 30 days from the date of service. Does There Need to Be a Written Contract?

Collections 52

Collections Judgment Government 52

True Accord

AUGUST 9, 2022

But from the perspective of a seasoned veteran of the financial services industry, what are we really seeing in consumer credit trends today? OHAD SAMET, TrueAccord co-founder: I think we all notice that we’re dealing with a lot of lagging indicators in terms of consumer capacity to pay. Are they able to pay? Why is that?

Consumer Credit 104

Consumer Credit Financial services Banks Collections 104

Troutman Sanders

MARCH 8, 2024

The law would prohibit any broker from assessing or soliciting an advance fee from a business to provide services as a broker. The law would prohibit any broker from assessing or soliciting an advance fee from a business to provide services as a broker. The Act further provides for monetary penalties.

Financial Institution 52

Financial Institution Loans 52

Troutman Sanders

AUGUST 21, 2023

However, the FTC may also be interested in the use of AI in customer service and interactions. For more information, click here. On August 17, the Federal Trade Commission (FTC) announced that fees for telemarketers accessing phone numbers on the National Do Not Call Registry will increase in fiscal year 2024, which starts on October 1.

Financial services 52

Financial services Banks Loans Financial Institution 52

PBWT

JANUARY 30, 2023

The question has high stakes in bankruptcy because a contractual right may simply entitle a counterparty to a general unsecured claim, with a recovery that may be only a fraction of the claim’s face value. A recent decision from the United States Bankruptcy Court of the Southern District of New York illustrates such a situation.

Bankruptcy 65

Bankruptcy Debtor Unsecured Creditor Creditors 65

Troutman Sanders

JANUARY 23, 2023

Do “negative option” subscription services constitute unfair or deceptive practices under the Consumer Financial Protection Act (CFPA)? In its circular, the CFPB warns covered persons that they risk violating the CFPA if they fail to: Disclose the material terms of the offer. Obtain informed consent.

Trade 52

Trade 52

Troutman Sanders

NOVEMBER 8, 2023

On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to define larger participants that offer digital wallets, payment applications, and similar services.

Student loans 52

Student loans Student Loans Financial services Banks 52

Jimerson Firm

JANUARY 20, 2023

Managers and members who provide professional services in Florida often choose to organize their businesses into Limited Liability Companies (“LLCs”) because LLCs generally provide freedom from personal liability for the obligations of the LLC. Managers or members of LLCs are not generally personally liable for monetary damages.

Debtor 52

Debtor Creditors 52

Troutman Sanders

MARCH 22, 2022

These differences include that people rarely plan to incur medical debt and that two-thirds of medical debt are the result “of a one-time or short-term medical expenses arising from an acute medical need.” Unlike other types of consumer debt, consumers also lack the ability to “shop around” for medical services.

Financial services 98

Financial services Collections 98

Jimerson Firm

APRIL 29, 2021

If a subcontractor is not getting paid on a construction project, there are some important things to consider, including whether the general contractor has grounds to withhold payment, whether the subcontractor can stop the work, and how a subcontractor can best ensure payment from the general contractor.

Mechanic’s Liens 98

Mechanic’s Liens Construction Foreclosure Government 98

Jimerson Firm

APRIL 2, 2024

Prior to the settlement, it was common practice for a seller to advertise on the Multiple Listing Service (“MLS”) the commission being paid to the buyer’s agent out of the seller’s net proceeds from the sale. The typical total commission from a sale generally ranges from 5% – 6%. Sellers will be saving money too.

Government 59

Government 59

Troutman Sanders

FEBRUARY 3, 2023

On February 1, the Superintendent of Financial Services Adrienne A. Harris announced that the New York State Department of Financial Services completed the process for adopting a new regulation relating to disclosure requirements for commercial financing.

Financial services 52

Financial services 52

PDC Flow

JUNE 29, 2023

Without a background in accounting or bookkeeping, it can be hard to know the best way to manage small business finances – or even to understand the common terms, reports and tactics used. Here are some of the common terms used in small business financial management. Assets Assets are anything of value your company owns.

Startups 58

Startups Retail 58

Troutman Sanders

JANUARY 5, 2023

On January 4, Colorado Attorney General Phil Weiser announced that his office had reached settlements with Bellco and Canvas credit unions which will provide $4 million in refunds of unearned guaranteed automobile protection (GAP) premiums to consumers that the credit unions failed to provide previously. Jeremy Rosenblum.

Credit Unions 52

Credit Unions Credit Unions Financial services Repossession 52

Troutman Sanders

JANUARY 17, 2024

To substantiate this accelerated approval, the SEC relied on the amended filings of the ETF applicants, which generally established that there is a strong correlation between the prices of spot Bitcoin and of futures Bitcoin traded on the Chicago Mercantile Exchange (CME). For more information, click here. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Trade 52

Troutman Sanders

OCTOBER 16, 2023

This Supervisory Highlights special edition covers junk fees in the areas of bank account deposits, auto loan servicing, and remittances found during examinations between February and August 2023. For more information, click here. For more information, click here. On October 11, the Securities and Exchange Commission (SEC) informed the U.S.

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

ABI

JANUARY 22, 2024

In a Chapter 12 bankruptcy, the debtor generally proposes a plan for repaying creditors from future earnings. [1] 1] Under a Chapter 12 plan, secured creditors will generally be paid in full, while unsecured creditors will often receive less than full payment. [2] 7] In Farm Credit Services of America v. Michael Kleinman St.

Secured Creditor 40

Secured Creditor Creditors Bankruptcy Unsecured Creditor 40

Titan Consulting

SEPTEMBER 22, 2020

Debt settlement is a legitimate, legal, highly regulated alternative to bankruptcy or credit counseling for consumers experiencing long-term financial hardship and may provide relief for those facing high levels of unsecured consumer debt. At the state level, the state Attorneys General, lead industry oversight. CFPB Oversight.

Debt settlement 98

Debt settlement Bankruptcy Unsecured Debt Credit Card Debt 98

Jimerson Firm

JANUARY 27, 2023

Recent “name image and likeness” (“NIL”) legislation created a new market for goods and services that have never existed before in college athletics. College athletes now have unlimited potential to capitalize upon their NIL and develop their brands on their terms. What is NIL?

Legal Rights 52

Legal Rights Education Trade Collections 52

Credit Corp

MAY 10, 2023

Remember that hard inquiries typically can exist on your credit report for up to two years, but their impact generally diminishes over time. Remember that hard inquiries typically can exist on your credit report for up to two years, but their impact generally diminishes over time. In This Piece: Can Checking Your Credit Score Hurt It?

Creditworthiness 97

Creditworthiness Lender Financial Institution Loans 97

Troutman Sanders

JANUARY 20, 2022

On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair, deceptive, and abusive student loan origination and servicing practices.

Student loans 52

Student loans Student Loans Loans Lender 52

Fraser

MAY 4, 2023

Are the worker’s services outside the principal’s typical line of business? Is the worker established in the profession of providing the services? The multi-bill package ( HB 4390 et seq.) ii) The individual performs work that is outside the usual course of the payer’s business.

Acquisition 88

Acquisition Trade Collections 88

Credit Corp

MAY 9, 2023

The average credit score in America was 714 in 2022, and you can generally categorize your score based on these ranges: 300-579: Poor 580-669: Fair 670-739: Good 740-799: Very good 800+: Excellent Once you know which category your score falls into, you’ll have a better idea how to strategize to secure your car loan.

Loans 98

Loans Lender Banks Education 98