Troutman Sanders

NOVEMBER 20, 2020

The letter failed to mention that the consumer’s demand for validation pauses the collection process, causing uncertainty not only as to whether the consumer could dispute the debt but also as to whether the consumer could withhold payment while doing so.

Collateral 52

Collateral Fair Debt Collection Law Firms Debt collector 52

Troutman Sanders

FEBRUARY 26, 2021

Accordingly, it held that the trustee’s actions in resetting the nonjudicial foreclosure date twice, when it did not have the present right of possession, created a genuine issue of material fact as to whether the defendant violated the FDCPA, and denied the defendant’s motion for summary judgment.

Foreclosure 52

Foreclosure Judgment Collateral Fair Debt Collection 52

Sawin & Shea

JANUARY 18, 2023

Chapter 7 bankruptcy is a form of personal bankruptcy that liquidates filers’ assets to discharge qualifying unsecured debts. Unsecured debts are not backed by collateral, such as car payments and home mortgages. What is Chapter 7 Bankruptcy?

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Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 81

Collection Industry News

JANUARY 13, 2024

For example, mortgage debt would be positively correlated with the homeownership rate and home prices in respective states, which are again affected by state level income.” The New York Fed researcher we talked to told us that credit card debt also has its own factors associated with it. Stay motivated: Remember, it’s a journey.

Credit Card Debt 40

Credit Card Debt Student loans Student Loans Bankruptcy 40

Debt RR

AUGUST 3, 2020

While there might be property debt situations that warrant garnishment, it’s more often used for unsecured debt, or debt that isn’t backed by any collateral. Though the IRS can initiate the garnishment process without court approval, other creditors and debt collectors have different requirements depending on the state.

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Garnishment Banks Student loans Student Loans 40

Collections Law

MAY 7, 2021

When that does not happen, we pursue collateral approaches. We request information about any bank accounts, real estate, inventory, vehicles, or other valuable property, and the debtor must provide full information about the assets. From here, we can determine which of our collection methods will be most effective for your scenario.

Judgment 52

Judgment Mechanic’s Liens Collections Debtor 52

Collections Law

OCTOBER 5, 2020

Attachments can be used to seize collateral such as real estate or bank accounts to create a path for debt recovery on the judgment. Once you have gone through proceedings and the court has passed down its judgment, you may think that it is time to celebrate and allocate the awarded funds as you see fit.

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Debt Recovery Debtor Judgment Collections 52

Debt Free Colorado

MARCH 3, 2023

However, how can you tell if your debt issue calls for such a drastic measure? The following are some indications that you might be a good bankruptcy applicant: Are debt collectors following you around? What Debts are Discharged in Bankruptcy? Spending money on short-term financial problems will harm your credit too much.

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Collections Law

AUGUST 11, 2020

This means that when the debtor refuses to pay, you can secure the debt payments by filing for a mechanics lien. A mechanics lien serves like collateral. These laws help protect contractors and suppliers against the non-payment risk. It can cover the contractors and suppliers from losses which improve the owner’s property.

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Judgment Debtor Construction Lawyers 52

Collections Law

JULY 1, 2020

Massachusetts mechanic’s lien laws protect suppliers as well as contractors seeking debt payments. A mechanic’s lien is collateral. These laws, when timely and properly used, help protect contractors and suppliers against the non-payment risk.

Mechanic’s Liens 52

Mechanic’s Liens Debt Recovery Collections Judgment 52

Troutman Sanders

AUGUST 1, 2023

An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. Examiners found that debt collectors continued collection attempts for work-related medical debt after receiving sufficient information to render the debt uncollectible under state worker’s compensation law.

Financial services 52

Financial services Financial Institution Debt collector Fair Debt Collection 52

Direct Recovery

AUGUST 27, 2022

The statute of limitations for oral debt contracts is even shorter at two years. The only exception is that any state tax debts will have a statute of limitations of 20 years. On top of all that, payday lenders must be licensed by the state of California to conduct their business.

Lender 52

Lender Collateral Loans Debt collector 52

Troutman Sanders

JUNE 14, 2023

On June 8, the CFPB acted against a medical debt collector for numerous debt collection and credit reporting violations. In at least thousands of cases, the debt collector continued to attempt to collect on a debt that was not substantiated after a consumer disputed the validity of the debt.

Financial services 52

Financial services Financial Institution Student loans Student Loans 52

Troutman Sanders

JULY 27, 2023

Examiners found some servicers engaged in blanket cross-collateralization by accelerating and requiring payments from consumers on unrelated debts, such as credit cards, before consumers could reclaim their repossessed vehicles.

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Collections Lender Repossession Debt collector 52

Better Credit Blog

MAY 4, 2022

If you take out a loan secured on your house or another asset and you don’t keep up repayments on it, the loan provider could seize that collateral. On the plus side, settlement can give you the chance to pay the debt and stop calls and letters from debt collectors. Risk to loan guarantees. Paying more overall.

Debt Consolidation 70

Debt Consolidation Consolidate Debt Personal loans Loans 70

Troutman Sanders

MAY 2, 2023

On April 26, the CFPB issued an advisory opinion, reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act. government securities, cash, and repurchase agreements collateralized by U.S.

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Financial services Trade Consumer Credit Government 52