Sawin & Shea

JANUARY 11, 2024

Bankruptcy filings for both individuals and businesses are on the rise. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. In short, they prepare you for the challenges that come with rebuilding your finances after bankruptcy.

Education 52

Education Debtor Bankruptcy Chapter 13 bankruptcy 52

Credit Corp

MAY 30, 2023

Bankruptcy can happen to anyone—despite their best efforts. And while most people understand that bankruptcy is generally bad for them, many don’t realize the details of how it can impact you. Read below to find out what happens to your credit score after bankruptcy and what you can do to repair your credit afterward.

Bankruptcy 106

Bankruptcy Chapter 13 bankruptcy Loans Lender 106

Titan Consulting

AUGUST 23, 2020

Bankruptcy will destroy your credit and remain on your credit report for up to 10 years. You must qualify to file for bankruptcy, and your income must meet an income means test. The coronavirus brought on a global health and economic crisis unlike anything we have ever experienced, and experts do not agree on the long-term impact.

Chapter 13 bankruptcy 86

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Sawin & Shea

OCTOBER 11, 2023

People file for bankruptcy for any number of reasons, from job loss, to unpaid medical bills , to sky-high credit card bills. And it’s not an uncommon event either– roughly 375,000 people filed for bankruptcy in 2022 alone. There are some debts that filing for bankruptcy will not discharge. What do we mean by this?

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Bankruptcy Student loans Student Loans Chapter 7 bankruptcy 52

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Under section 503(b) of Title 11 of the United States Code (“Bankruptcy Code”), allowed administrative expenses have priority status in receiving distributions from the bankruptcy estate. [1] Zhiqian Ke St. 2] In PacifiCorp v.

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Bankruptcy Debtor Manufacturing 40

Sawin & Shea

JUNE 14, 2023

Because so many struggle financially after divorce, it’s common for individuals to declare bankruptcy before or after their marital dissolution. Here’s what you need to know about bankruptcy and divorce. Should I File Bankruptcy Before or After Divorce?

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Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Direct Recovery

APRIL 17, 2023

California has one of the highest bankruptcy rates in the country, but the majority of consumers here still need to learn more about the process involved to make informed decisions on whether it might be a good option for them. How long will bankruptcy impact your credit? What debts will be eliminated?

Bankruptcy 52

Bankruptcy Student loans Student Loans Lawyers 52

Troutman Sanders

JANUARY 10, 2023

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. At the time Celsius filed for bankruptcy on July 13, 2022, it had approximately 600,000 Earn Accounts, which consisted of $4.2

Financial services 52

Financial services Unsecured Creditor Bankruptcy Banks 52

Credit Corp

JANUARY 24, 2024

The purpose of VA loans is to help veterans purchase homes with lower interest rates and better terms. Compensating Factors Your Lender May Take Into Account Other VA Loan Requirements How to Get a VA Loan After Bankruptcy or Foreclosure Who Qualifies for a VA Loan? One of these requirements is typically a good credit score.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Loans Chapter 7 bankruptcy Foreclosure 52

ABI

JANUARY 19, 2024

John's University School of Law American Bankruptcy Institute Law Review Staff Section 727(b) of title 11 of the United States Code (the “Bankruptcy Code”) provides that a Chapter 7 debtor’s bankruptcy discharge eliminates the debtor’s liability for “all debts that arose before the date of the order of relief.” [1]

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Bankruptcy Debtor Creditors Judgment 40

Nexa Collect

APRIL 11, 2021

One of the difficulties in accessing that data is the reporting of consumer information by creditors and by debt collection agencies, themselves. The number of those actually furnishing payment information to the consumer reporting agencies has decreased in the last 10 years. Given this problem, we have to look elsewhere.

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Collections Collection Agencies Collections Agency Construction 130

Credit Corp

NOVEMBER 12, 2020

You might have heard that bankruptcy gives you a clean financial slate, but that’s not exactly accurate. For those experiencing serious financial distress, bankruptcy can be a way to eventually restart. Bankruptcy is a negative item that can show up on your report and impact your credit score for years.

Bankruptcy 106

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Loans 106

Sawin & Shea

OCTOBER 6, 2021

Though enacting the CARES Act helped, those dealing with hefty mortgage payments and considering bankruptcy, for example, weren’t entirely clear on their options. However, the situation was a bit more complicated for those already in bankruptcy or considering it. What is the CARES Act?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Lender Government 52

Roths Child Law

OCTOBER 18, 2021

Filing for bankruptcy is a serious decision that can have far-reaching consequences to your life, even years down the line. . As you are likely aware, there are two types of bankruptcy that consumers can choose to file. There's Chapter 7 bankruptcy, which involves the liquidation of some of your assets.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Debtor 52

Troutman Sanders

SEPTEMBER 15, 2023

On September 14, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report on Tuition Payment Plans in Higher Education. The CFPB also reportedly analyzed consumer complaints, met with industry participants, and conducted interviews with current consumers.

Student loans 52

Student loans Student Loans Legal Rights Education 52

Credit Corp

APRIL 2, 2024

But if you keep working at it, you can repair your credit score and improve your financial options (like applying for a new apartment, car loan, credit card) and probably save yourself on interest in the long-term. Credit reports should no longer include details about liens and judgments, but bankruptcies do still appear.

Bankruptcy 106

Bankruptcy Loans Lender Credit Bureau 106

Troutman Sanders

MARCH 4, 2024

On February 29, the Consumer Financial Protection Bureau (CFPB) issued a circular to law enforcement agencies and regulators explaining how companies operating comparison-shopping tools can break the law when they steer consumers to certain products or lenders because of kickbacks. For information, click here. s Municipal Regulations.

Financial services 52

Financial services Law Firms Acquisition Debt collector 52

Troutman Sanders

MARCH 7, 2023

Coughlin , case number 22-227, after the First Circuit last year barred the Lac du Flambeau Band from seeking to collect on a $1,600 debt obligation to the tribe’s lending arm, Lendgreen, after the debtor filed for Chapter 13 bankruptcy. The tribes point to the Ninth Circuit’s ruling in Krystal Energy Co.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Debtor Government 52

In the Red

NOVEMBER 28, 2018

Almost every year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S.

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Debt Recoveries

JUNE 11, 2023

Credit control is the process of overseeing and collecting payments that consumers or clients owe your company. Establishing credit terms, assessing creditworthiness, generating bills, and keeping track of past-due payments are all part of it. Maintaining accurate and current customer records is a crucial component of credit control.

Debt collector 52

Debt collector Creditworthiness Debt Recovery Trade 52

Sawin & Shea

FEBRUARY 2, 2022

We can help you file a Chapter 7 or Chapter 13 bankruptcy, or we can point you in another direction if bankruptcy is not right for you. Debt management programs are run by credit counseling agencies that handle negotiations with your creditors to create new terms. Bankruptcy. How Sawin & Shea, LLC Can Help.

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Credit Card Debt Chapter 13 bankruptcy Bankruptcy Creditors 72

Troutman Sanders

JANUARY 12, 2023

On January 11, the Consumer Financial Protection Bureau (CFPB) announced it reached a settlement with law firm Forster & Garbus, LLP in its lawsuit over alleged illegal debt collection practices.

Law Firms 52

Law Firms Judgment Fair Debt Collection Bankruptcy 52

Debt Free Colorado

DECEMBER 9, 2021

Are you considering bankruptcy? Bankruptcy is a challenging, life-altering experience. . If you are considering consulting with an attorney about your debt-relief options, it is essential to remember that each type of bankruptcy comes with its advantages and disadvantages. . Advantages of Chapter 7 Bankruptcy.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Troutman Sanders

FEBRUARY 16, 2023

The chosen title of the hearing very clearly highlights two issues that continue to plague the digital asset market: (1) the financial harm imposed on consumers by the continual entry of unsupervised cryptographic-based financial products into the U.S.

Banks 52

Banks Bankruptcy Trade Government 52

Nexa Collect

SEPTEMBER 15, 2020

These short term measures help businesses through the shutdowns, allowing them to delay payments until they can reopen and generate appreciable revenue again. This tightening of the credit market should help offset long-term losses. There are several options open to commercial lenders. The reality is that no one knows what will happen.

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Collection Agencies Collections Agency Collections Lender 130

Titan Consulting

JULY 22, 2020

Consumers now benefit from lower interest rates on accounts connected to Prime. Instead of allowing consumers to receive 80% or more of the home’s value, limits can be as low as 70%. While business bankruptcies make the news, experts expect personal bankruptcies to follow. Frequently Asked Questions.

Foreclosure 75

Foreclosure Bankruptcy Loans Banks 75

PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. v] The Court explained further, “[a]ny ambiguity in the text of §362(a)(3) is resolved.

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PBWT

APRIL 26, 2021

The chapter 7 trustee sued the landlord, alleging the rent payments were avoidable as preferential transfers under Bankruptcy Code section 547. The other payments were late, ranging from 6 to 29 days after the due date. 11 U.S.C. § § 547(b). The key word in that test is “or.”

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Collection Industry News

FEBRUARY 5, 2021

04, 2021 (GLOBE NEWSWIRE) — Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its January 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. bankruptcy filings,” said Chris Kruse, senior vice president of Epiq AACER. NEW YORK, Feb.

Bankruptcy 40

Bankruptcy Law Firms Government Collections 40

Troutman Sanders

NOVEMBER 15, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Trade 52

Credit Corp

JUNE 8, 2023

In July 2016, the Consumer Federation of America (CFA) and VantageScore Solutions reported that most consumers—more than 80%—knew basic facts about their credit scores, including that credit scores are used by lenders to approve or deny mortgages and by credit card issuers to approve or deny credit cards. How Are Credit Scores Created?

Lender 98

Lender Loans Creditors Credit Unions 98

Albuquerque Law

OCTOBER 2, 2020

When business owners decide to file Chapter 11 bankruptcy, they suddenly have a lot on their plate. It is often beneficial to speak with a lawyer to understand all of the steps required of you when filing Chapter 11 bankruptcy, but here are five critical steps you must remember: 1. Take stock of the business’s assets. General income.

Bankruptcy 58

Bankruptcy Lawyers Creditors Banks 58

Consumer Financial Services Law

JULY 21, 2021

Bankruptcy Court for the Eastern District of North Carolina. The bankruptcy court order held mortgage servicer Newrez, LLC (“Newrez”) and the holder of the mortgage note at issue in civil contempt for failing to abide by the terms of the individual debtors’ confirmed chapter 11 plan (the “Plan”). Beckhart , No. July 6, 2021).

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Bankruptcy Debtor Creditors Loans 40

Titan Consulting

JUNE 21, 2020

You may need to make short-term sacrifices to stay on track with long-term goals. COID-19 might be a short-term financial challenge, or it could turn into an 18-month recession. We work with consumers seeking debt consolidation loans, or who may be considering options like debt negotiation or bankruptcy.

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Credit Counselor Debt Consolidation Credit Card Debt Bankruptcy 98

True Accord

APRIL 5, 2023

It’s tax season again, which can mean tax refunds for consumers that have historically been leveraged to stabilize finances or pay down debt. But with inflation and economic stressors persisting into the new year, many consumers are conflicted on their financial outlook and spending behavior is hard to predict. following a 0.5%

Student loans 94

Student loans Student Loans Credit Card Debt Loans 94

Troutman Sanders

JANUARY 3, 2024

The company’s scaled-back bankruptcy plan also frees up $225 million in digital assets that would have been used to fund the new business lines that were rejected by the SEC. On December 8, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amici curiae brief urging the U.S.

Financial services 52

Financial services Trade Retail Bankruptcy 52

Troutman Sanders

JANUARY 9, 2024

They allege that the dealer deceived consumers about the price of certified used cars, add-ons, and government fees. On January 2, the CFPB issued a report noting that during December 2023, it sent $6 million in financial relief to consumers harmed by illegal lending practices targeting veterans. For more information, click here.

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Financial services Student loans Student Loans Debt collector 52