Debt Free Colorado
APRIL 9, 2020
You’ll have more flexibility with a nationwide loan servicers like Toyota, Ally, or Santander than you will with a buy-here-pay-here lender, but their sympathy is limited. They will feel obligated to protect their interest in the collateral (your car) and can move quickly to repossess after only a few missed payments.
Sawin & Shea
JANUARY 25, 2022
Secured debts are a type of debt backed by an asset that is used as collateral. To enforce secured debts, your creditors may repossess your car or other vehicles, they may foreclose on your mortgage, or levy against other property you have either pledged as collateral or that is subject to an involuntary lien. What is Secured Debt?
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Sawin & Shea
JANUARY 18, 2023
Unsecured debts are not backed by collateral, such as car payments and home mortgages. What is Chapter 7 Bankruptcy? Chapter 7 bankruptcy is a form of personal bankruptcy that liquidates filers’ assets to discharge qualifying unsecured debts.
Debt RR
AUGUST 3, 2020
Common reasons for bank account garnishment in Texas include: Private creditors: These are banks, credit unions, credit card companies, peer-to-peer lenders, hard money loan providers, and other financial institutions. Judgment in favor of a state agency or private creditor can result in a frozen bank account , as well. Student loans.
Debt Free Colorado
MARCH 3, 2023
A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. Unsecured debts , including credit card and medical bills, as well as some judgments or past taxes, may be discharged. Do Bankruptcies Come in Different Types?
Collection Industry News
MAY 18, 2021
By allowing lenders to take possession of collateral through foreclosure when a borrower defaults, the law reduces the risk to lenders – which in turn allows them to make credit available to more home buyers at a much lower interest rate than available for unsecured credit.
Troutman Sanders
DECEMBER 20, 2022
d/b/a Premier Student Loan Center, a student-loan debt-relief company. Proposition 209 has been touted as a way to protect Arizonans with medical debt from bankruptcy, has set new exemption limits on property subject to debt collection, and has decreased the portion of a judgment debtor’s income subject to garnishment.
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