Collateral Government Lender Student Loans 
Sawin & Shea
AUGUST 9, 2023
Briefly, unsecured debts are not backed by any collateral and include things like credit card balances and unpaid medical bills. Creditors cannot reclaim any of your property if you default on a loan. However, secured debt means the borrower has put up collateral (e.g. When Should I Consider Declaring Bankruptcy?
Debt Free Colorado
APRIL 9, 2020
Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. Unlike mortgage lenders, most landlords are simply not in a financial position to weather the loss of rental income due to the high expenses associated with the rental property itself.
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Collection Industry News
MAY 18, 2021
While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans.
Sawin & Shea
APRIL 10, 2024
Chapter 7 is also known as liquidation bankruptcy because it involves liquidating (selling off) non-exempt assets belonging to the debtor to repay creditors and lenders. The automatic stay prohibits creditors and lenders from attempting to recover what you owe. What Is Chapter 7 Bankruptcy?
Hudson Weir
FEBRUARY 28, 2023
This amount is then used to give unsecured lenders more chances to recoup a little of their outstanding capital. Essentially, this group involves people or creditor organisations that offer money but who won’t attain certain assets as collateral.
Debt Free Colorado
MARCH 3, 2023
For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. Generally, secured debt (loans backed by collateral), student loans, child support or alimony, recent taxes, criminal fines, or personal injury judgments cannot be discharged.
Debt RR
AUGUST 3, 2020
When a creditor or a government authority sues a business or individual for an unpaid debt, one of the options for settling is for the court to give the creditor the right to pull the funds from a bank account. Student loans. Student loan disbursements. What is Bank Account Garnishment and What Can Cause It?
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