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What Happens If You Don’t Use Your Credit Card?

Credit Corp

These balances will add up and accrue interest, which can balloon your credit card debt and impact your payment history, lowering your credit score. If you incur an inactivity fee, contact your credit card issuer and the Federal Trade Commission’s Bureau of Consumer Protection. Should You Close a Credit Card You Don’t Use?

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Student Loan Default: Rehabilitation or Consolidation

Sawin & Shea

Consolidation will also increase your total loan amount because your new loan will include the accrued interest and collection fees. These payments go toward collection fees and interest. Contact Indianapolis Student Loan Lawyers. Call us today at 317-759-1483, or click here to contact us online.

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Chapter 13 Bankruptcy and Student Loans

Sawin & Shea

Though every situation is different, contacting an attorney that specializes in bankruptcy can be the first step in achieving financial freedom. This stay prohibits creditors, including your student loan lenders, from contacting you to collect any debts. Your student loans will also still accrue interest during this time.

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Congress Passes Relief for Student Loan Borrowers in CARES Act

Titan Consulting

Borrowers with student loans not included under the CARES Act must contact their loan servicer directly for available relief programs. A forbearance through a non-qualifying loan will continue to accrue interest during the forbearance period but could include payment relief from 3 to 24 months.

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Washington Federal Court Holds “Vague” and “Conclusory” References to “Reasonable Procedures” Not Enough to Establish FDCPA’s Bona Fide Error Defense

Troutman Sanders

In a subsequent letter, the agency stated that the principal was accruing interest at the rate of 12%, which was followed by an email stating that the rate was 8%, which was followed by another letter stating that the rate was again 12%. A number of communications also included conflicting interest calculations.

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Defaulted Loans: Florida State Laws, Federal Laws and Federal Regulations

Jimerson Firm

requires a lender to establish or make good faith efforts to establish live contact with a delinquent borrower no later than the 36 th day of a borrower’s delinquency, and again no later than 36 days after each payment due date, so long as the borrower remains delinquent. Section § 1024.39 Title 38 C.F.R.

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Avila Safe Harbor Language: New York District Court Grants Motion for Judgment on the Pleadings for Defendant in FDCPA Case

Troutman Sanders

The plaintiff subsequently filed suit, alleging the above provision was misleading because it “merely allude[s] to the possibility of interest accruing[,]” when in fact, the “Defendant is well aware that interest is definitely accruing[.]” 1692e for two reasons.