Sawin & Shea

JUNE 28, 2023

People file for bankruptcy for any number of reasons, from sky-high medical expenses to loss of income and the inability to make their mortgage payments each month. But filing for bankruptcy isn’t a shameful or immoral act. In some cases, people have spent beyond their means, and now it’s time to repay their debts.

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Sawin & Shea

SEPTEMBER 28, 2022

The stress leading up to a declaration of bankruptcy can be intense. You may also worry that your bankruptcy will become public knowledge and affect other aspects of your life. Let’s begin by discussing the ramifications of bankruptcy on your current employment. Bankruptcy Code. Will your boss and co-workers find out?

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Sawin & Shea

NOVEMBER 24, 2021

However, though bankruptcy can seem scary, it is an option and one that can genuinely help you get back on your feet. There are benefits when you file for bankruptcy that protect you. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

NOVEMBER 24, 2021

However, though bankruptcy can seem scary, it is an option and one that can genuinely help you get back on your feet. There are benefits when you file for bankruptcy that protect you. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

JUNE 21, 2023

Filing for Chapter 13 bankruptcy can help you improve your financial situation. If the bankruptcy court has your Chapter 13 bankruptcy dismissed, you’ll need to refile or find another method for overcoming your debts, such as Chapter 7 bankruptcy. Bankruptcy dismissals have nothing to do with unloading debts.

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Troutman Sanders

APRIL 27, 2023

Specifically, the CFPB reports that civil judgments are: Almost twice as common as bankruptcies. Bankruptcy filings are sometimes used as a measure of consumers struggling with debts, but the CFPB’s research shows struggling consumers are more likely to be sued by creditors than to seek bankruptcy protection.

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

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Sawin & Shea

MARCH 27, 2024

Filing for bankruptcy can feel incredibly daunting, especially if you have concerns over whether it may impact your future job prospects. The sad reality is that many people hold misconceptions regarding bankruptcy filers. They believe those declaring bankruptcy are irresponsible or bad with money. What Is Chapter 7 Bankruptcy?

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Debt RR

AUGUST 3, 2020

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Can Debt Collectors Garnish Bank Accounts in Texas?

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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. by the existence of a separate provision, §542, that expressly governs the turnover of estate property.”

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Nexa Collect

MARCH 12, 2021

The FCRA-mandated credit reporting period is the same in Puerto Rico: 7 years for debt, and 10 years for bankruptcies, but note that Puerto Rico has its own statute of limitations for filing lawsuits to collect debts: 15 years. 981p (12)). All that being said, in Puerto Rico interest is allowed on money judgments, at a rate of 6%.

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Troutman Sanders

DECEMBER 8, 2022

The Act has been touted as a way to protect Arizonans with medical debt from bankruptcy and set new exemption limits on property subject to debt collection and decreased the portion of a judgment debtor’s income that is subject to garnishment. The plaintiffs, led by the Arizona Creditors Bar Association Inc.,

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Credit Corp

MAY 30, 2023

This is known as wage garnishment. The Consumer Credit Protection Act caps these types of garnishments. Nonwage garnishment. If you’re retired, unemployed, or self-employed, your bank account may be garnished instead. Veterans payments, social security, and disability benefits are not eligible for nonwage garnishment.

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Debt Free Colorado

FEBRUARY 21, 2022

Bankruptcy may appear to be a scary process, but it does not have to be. You may be able to apply for one of many different types of bankruptcy, each of which accomplishes various aims, depending on your specific situation. The CFDCPA does not apply to anyone who collects their debts or government personnel in the United States.

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Sawin & Shea

JULY 20, 2022

Specifically, debt collectors may not: Provide the erroneous impression that they are a lawyer or a representative of the government. Since debtors usually do not show up to court, these cases usually result in wage garnishment. False Statements. Convey a misleading sense of affiliation with or ownership of a credit bureau. Unfairness.

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The Kaplan Group

OCTOBER 19, 2020

The United States Trustee Program also keeps a list of credit counseling agencies approved to provide pre-bankruptcy counseling. Garnishment. Garnishment is when a creditor takes part of your paycheck or money from your bank account to collect money you owe on a judgment. Garnishments generally require a court order.

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Debt Free Colorado

APRIL 9, 2020

If neglected long enough they will sue you and attempt to garnish your wages and take money from your bank account, but if you’re not working and don’t have any money in the bank account these are empty threats. You should call your student loan servicers about forbearance, which will temporarily stop or reduce your payments.

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Jimerson Firm

JANUARY 23, 2023

Due to this, suppliers of construction materials will often need to enter into a credit agreement with their customers to govern the terms on which credit is extend, including when payment is due and other important aspects of the credit relationship. can be taken.

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Titan Consulting

JUNE 7, 2020

Stopped Involuntary Collection Activity : The Department of Education suspended wage garnishments, Social Security garnishments, and tax refund offsets on federally held student loans. The federal government is not making payments on student loan accounts, but rather suspending payments, which will extend the term of the loan.

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Collection Industry News

OCTOBER 6, 2020

The company said it had stopped seeking orders to garnish bank accounts. But since March, although Capital One continued to seize pay via garnishments secured before COVID-19 struck, it has largely stopped filing new suits. Past studies have put the number of workers who have their wages garnished each year at around 4 million.

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Troutman Sanders

DECEMBER 5, 2022

The OCC’s CMP manual summarizes the agency’s policies and procedures governing the imposition of civil money penalties against national banks, other OCC-regulated institutions, and their institution-affiliated parties. inquiring into the policies and procedures Coinbase has in place to protect its customers’ assets in the event of bankruptcy.

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Collection Industry News

MAY 30, 2022

Upsolve, a nonprofit organization enabling people to file for bankruptcy on their own for free, wanted to create a program that would let non-lawyers give basic advice to New Yorkers facing debt-collection actions from lenders and third-party debt buyers. Volunteers would offer the advice after training, according to court papers.

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Credit Corp

OCTOBER 31, 2021

You may qualify for forgiveness through the Public Service Loan Forgiveness program if you are employed by a federal, state, local, or tribal government or not-for-profit organization. Perkins loans may also be discharged in certain situations, including bankruptcy, death, and disability. Public Service Loan Forgiveness Program.

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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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Better Credit Blog

SEPTEMBER 8, 2020

Government. If you have a complicated credit situation, with liens, bankruptcies, or several debts in collections, you don’t have to face them alone. They might even threaten to garnish your wages, depending on where you live. Northland Group collects for businesses in a few industries, such as: Auto loans. Credit cards.

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Troutman Sanders

DECEMBER 20, 2022

On December 13, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking to its regulations, governing the use of the official FDIC sign and insured depository institutions’ (IDIs) advertising statements, while also clarifying the FDIC’s regulations on misrepresentations of deposit insurance coverage.

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Sawin & Shea

OCTOBER 5, 2022

Federal loans charge high-interest rates, and if you default, the government could sell your loan to a collection agency. When you default on a federal student loan, the government can garnish up to 15% of your wages or social security income without a court order. They can even intercept your federal tax refund.

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Collection Industry News

JUNE 14, 2021

Some of the debts have been discharged in bankruptcy cases. The threats allegedly included claims they would be arrested on fraud charges, see their vehicle registrations canceled and have their wages garnished. The government also seized $193,837 from Ciffa’s bank and MoneyGram accounts. Others were paid off years ago.

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Sawin & Shea

JUNE 9, 2021

The FTC (Federal Trade Commission) is an arm of the United States government that enforces consumer protection and antitrust laws. Lie to you (for instance, by claiming that they will arrest you or by telling you a different amount than what you actually owe, or by pretending to be from a government agency). Call before 8:00 a.m.

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Troutman Sanders

MARCH 4, 2024

The OAG also found that the debt collection law firm illegally continued to pursue consumers for debts that were already paid or partially paid, and sometimes garnished wages for judgments that were completed. billion to Gemini Earn Program (Earn) customers through the Genesis Global Capital, LLC (GCG) bankruptcy proceeding.

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Debt Free Colorado

DECEMBER 7, 2016

Chapter 7 bankruptcy may seem intimidating, but as you can tell from the following infographic, the steps that go into successfully completing your case are pretty straightforward. For those of you who may not be able to view the image, the text follows: Chapter 7 Bankruptcy Timeline. 13 bankruptcy. 13 bankruptcy.

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Troutman Sanders

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 post, the CFPB argues that certain private education loans can be discharged in bankruptcy. For more information, click here. For more information, click here.

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Collection Industry News

SEPTEMBER 8, 2020

These are examples of false statements: a) Implying that they are attorneys or government representatives when they are not. h) They will seize, garnish, attach, or sell property or wages, unless the collection agency or creditor intends to do so, and it is legal to do so. He cannot use any false or misleading statements.

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Troutman Sanders

JULY 26, 2021

Resolution plans describe the company’s strategy for rapid and orderly resolution under bankruptcy in the event of material financial distress or failure. According to Attorney General Healey’s press release, this guidance states that “these direct payments are exempt from seizure or garnishment under Massachusetts law.

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