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You’re in Debt: 9 Terms to Know

The Kaplan Group

Instead, I suggest you do what you can to educate yourself about your options. FDCPA ( Fair Debt Collection Practices Act). The Fair Debt Collection Practices Act (FDCPA) is a federal law that restricts the behavior of collection agencies when they are attempting to collect money from individuals.

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What is a Judgment?

Credit Corp

They provide a service to you and then bill you, similar to a credit extension. The company, creditor or collection agency has legal ways to pursue payment. The judgment creditor can then use that court judgment to try to collect money from you. This is known as wage garnishment. Nonwage garnishment.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Department of Education released final regulations that streamline and improve the rules for major targeted debt relief programs. House of Representatives, seeking to protect a greater portion of consumers’ disposable income from garnishment. For more information, click here. On October 31, the U.S.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

House of Representatives that seeks to amend the Fair Credit Reporting Act to exclude COVID-19-related evictions from consumerscredit reports. Pritzker issued an executive order extending the suspension of garnishment, deduction of wages, and post-judgment citations to discover assets through April 3.