Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

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Collection Industry News

JUNE 6, 2024

In its first case under the Impersonation Rule, the Federal Trade Commission has stopped a student loan debt relief scheme that bilked more than $20.3 The FTC charged that the company also falsely claimed that they would take over consumers’ student loans to get them loan forgiveness that did not exist.

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Account Recovery

OCTOBER 20, 2021

Debt collection, student loan debt relief, payday loans, and government impersonators are just a few of the categories highlighted in a Federal Trade Commission report that analyzes the regulator’s effort at addressing fraud and consumer issues that are affecting communities of color, which was released earlier this week.

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Troutman Sanders

APRIL 14, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled “ Busting myths about bankruptcy and private student loans.” In the blog post, the CFPB argues that certain private education loans can be discharged in bankruptcy. Loans to a student attending school less-than-half-time.

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Account Recovery

NOVEMBER 10, 2021

The Federal Trade Commission has permanently banned a payment processor from processing debt relief payments after it was accused of facilitating a student loan debt relief scheme while also requiring the company and its owner pay $500,000 that will be used to refund individuals who were duped by the scam.

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Collection Industry News

MAY 22, 2023

The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. and SLA Consulting Services Inc. and SLA Consulting Services Inc.

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Collection Industry News

APRIL 18, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled “ Busting myths about bankruptcy and private student loans.” In the blog post, the CFPB argues that certain private education loans can be discharged in bankruptcy. Loans to a student attending school less-than-half-time.

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Account Recovery

SEPTEMBER 3, 2020

A number of financial services trade organizations, including ACA International, are calling on the Federal Communications Commission to require that telecom companies notify businesses when their calls are being blocked or labeled as spam.

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Collection Industry News

NOVEMBER 16, 2021

On November 8, 2021 the Federal Trade Commission (FTC) announced that it entered into a stipulated order with a payment processor, resolving allegations that the payment processor violated Section 5 of the Federal Trade Commission Act (FTC Act) and the Telemarketing Sales Rule (TSR) ???by The order also contains a $27.5

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Direct Recovery

JANUARY 31, 2021

There are a wide range of issues to address when it comes to student loan debt, but the one idea that addresses just about everything is that many students aren’t educated on all of their options before (or even after) they sign up to be on the hook for expenses occurred on account of their education. Parent Plus Loans.

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Loans Student loans Student Loans Education 52

Better Credit Blog

MAY 17, 2022

One of the benefits of auto loans – which can actually be a problem – is that they’re so easy to get. Most auto loans are straightforward. But there are various types of auto loans that contain different provisions. If you don’t know what they are, you could pay too much for your loan. Auto Loans Can Be “Good Debt”.

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Collection Industry News

MARCH 8, 2021

The new Interim Final Rule issued by the SBA on March 3, 2021, reverses the prior rules by indicating that independent contractors and employers who were otherwise eligible to receive PPP loans may do so regardless of whether the borrower or a 20% or more owner is in default under Federal Student Loans.

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Credit Corp

MARCH 23, 2021

The following is a guest post from Paige Williams, a public relations specialist with New Roads Auto Loans. When most people think about credit and a car loan, they’re thinking about what credit score qualifies them for the car loan. However, that’s not the only way that a credit score will affect a vehicle loan.

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Credit Corp

OCTOBER 6, 2023

Today, we go over the average American car payment as well as other statistics like the total auto loan debt in the United States. We also discuss how the average loan differs based on age and credit score. Experian ] The average loan amount for new vehicles is $40,657. Experian® ] Average used car payments are only up 1.7%

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Collection Industry News

JUNE 29, 2024

Total household debt includes mortgages, home equity lines of credit (HELOCs), student loans, auto loans, other, and credit cards.1 Student loan debt decreased by $6 billion to $1.60 7 Student loan debt decreased in the first quarter by a small amount, remaining around $1.6

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Credit Corp

SEPTEMBER 13, 2023

Basically, credit scoring models want to see that you can manage different types of financing, most notably revolving accounts, such as a credit card, and installment accounts, such as a mortgage or auto loan. You are not required to pay the loan in full each month. Why Does Your Mix of Accounts Matter?

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Troutman Sanders

MARCH 28, 2023

On March 23, the Federal Trade Commission (FTC) issued a notice of proposed rulemaking with the stated goal to make it easier for consumers to cancel recurring subscriptions and memberships. On March 22, the SEC issued a Wells Notice to Nasdaq-traded cryptocurrency exchange Coinbase, Inc. For more information, click here.

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Better Credit Blog

MAY 27, 2022

Home equity loans allow you to borrow funds against the existing equity on your property. Homeowners use these loans to fund home renovations, student loans, and high-value purchases or consolidate high-interest debt. If you’re considering a home equity loan, check out our pick of the best loan providers below.

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Collection Industry News

SEPTEMBER 27, 2022

BUSINESS WIRE)–An annual survey from Discover ® Student Loans revealed that 58% of parents with college-bound students didn’t plan on applying for federal aid, but now have changed their minds. Parents bear a lot of the stress of paying for college, but so do students. Sheetal Shah, September 22, 2022. RIVERWOODS, Ill.–(BUSINESS

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Troutman Sanders

JANUARY 20, 2021

On January 18, President-elect Joe Biden announced that he will nominate current Federal Trade Commission (FTC) Commissioner Rohit Chopra to be the next director of the agency. In that role, he became known for his hard-charging style and frequent criticisms of private student lenders. A CFPB veteran, Chopra holds a B.A. In 2011, Sen.

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Student loans Student Loans Trade Lender 52

Public Citizen

MAY 18, 2021

The Federal Trade Commission was busy yesterday. Operators of Student Loan Debt Relief Scheme Banned From Providing Debt Relief Services as Part of Settlement with FTC ( May 17, 2021). FTC Announces Latest Enforcement Action Halting Deceptive CBD Product Marketing ( May 17, 2021).

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Public Citizen

FEBRUARY 15, 2021

Last week was a busy one for the Federal Trade Commission. Million in Refunds to People who Lost Money to Student Loan Debt Relief Scam. Among other things:   FTC Acts to Ban Payday Lender From Industry, Forgive Illegal Debt.   FTC Sends More than $1.7

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Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. For more information, click here. The FTC has estimated that these fees can cost consumers tens of billions of dollars per year in unexpected costs.

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Troutman Sanders

FEBRUARY 23, 2022

Federal Activities: On February 18, the Consumer Financial Protection Bureau (CFPB) released a bulletin, detailing student loan servicers’ obligation to halt unlawful conduct on borrowers’ eligibility and benefits under the Public Service Loan Forgiveness Waiver. Student loan debt payments are scheduled to resume May 1.

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Credit Corp

APRIL 9, 2024

You paid the expenses for an eligible student enrolled at any college, trade school, university, or other educational institution that meets the requirements to participate in a federal student aid program. The eligible student is you, your spouse, or a dependent claimed on your tax return.

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True Accord

AUGUST 11, 2022

Whether it’s taking out a loan, buying a house, saving for retirement or purchasing goods on a credit card,, people are constantly being asked to make decisions that affect their personal finances. New York Federal Reserve , between the national student loan debt topping $1.6 Debt levels are on the rise again: according to the?

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Credit Corp

JUNE 1, 2021

Established credit history can impact everything from getting a future loan (such as a mortgage) to renting an apartment. Monthly expenses might include student loan payments, car payments, and credit card payments. Pay Student Loan Debt. Some Millennials may want to look into loan consolidation.

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Credit Corp

APRIL 19, 2024

Choosing this route can also help you avoid some of the most frequent student loan mistakes , such as borrowing more money than you need and slowing down your financial growth. Avoid student loans to the best of your ability. Consider attending a trade school or a technical college.

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Troutman Sanders

FEBRUARY 21, 2024

On February 15, the CFPB published a blog recounting its action against a student loan debt relief business and a debt-settlement company. The CFPB alleged that the defendants charged thousands of consumers with federal student loans approximately $9.2 For more information, click here. For more information, click here.

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Troutman Sanders

SEPTEMBER 14, 2021

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. Under the proposal, the OCC would go back to the previous 1995 regulations for the Community Reinvestment Act (CRA), a 1977 fair lending law.

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Troutman Sanders

AUGUST 9, 2021

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. On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022.

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Credit Corp

NOVEMBER 18, 2020

According to the Federal Trade Commission (FTC), there were more than 650,000 victims of identity theft in 2019, making ID theft the most-reported type of FTC complaint. Loans and Leases. Somebody with your personal information might try to apply for a loan online. Identity theft is a major problem. Get Credit Repair Help.

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Troutman Sanders

MAY 9, 2023

On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

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Troutman Sanders

DECEMBER 20, 2022

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the Eleventh Circuit in support of a plaintiff-appellant who filed a Section 1681s-2(b) claim against a furnisher for failing to conduct a reasonable investigation under the Fair Credit Reporting Act.

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Troutman Sanders

SEPTEMBER 27, 2022

The CFPB invites insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances. Notably, the order specifically stated that “[v]irtual currencies such as ETH, DAI, and others” traded on the bZx protocol constitute “commodities” under the CEA.

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Katabat

OCTOBER 6, 2021

Chopra appears to be well prepared for the post, having served as a Commissioner on the Federal Trade Commission, and before that serving as the CFPB’s Assistant Director and separately as the CFPB’s Student Loan Ombudsman.

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Katabat

OCTOBER 6, 2021

Chopra appears to be well prepared for the post, having served as a Commissioner on the Federal Trade Commission, and before that serving as the CFPB’s Assistant Director and separately as the CFPB’s Student Loan Ombudsman.

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