Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. This Bulletin serves as an update to that non-exhaustive compilation of information.

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Financial Institution Garnishment Collections Foreclosure 52

Troutman Sanders

OCTOBER 13, 2020

Small Business Administration, in consultation with the Treasury Department, released an updated loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. Small Business Administration (SBA) released guidance on required procedures for changes of ownership in an entity that obtained a PPP loan.

Financial services 52

Financial services Foreclosure Collateral Collections Agency 52

Sawin & Shea

AUGUST 4, 2021

For the lender, it’s all about the bottom line, and if they think they can get more money from a foreclosure, they won’t agree to a short sale. Even if the lender does forgive the amount of the loan not paid upon closing, you may be taxed on this money by the IRS. A short sale is a significant negative on your credit score.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Foreclosure Lender 52

Troutman Sanders

SEPTEMBER 27, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Beginning September 23, taxpayers with unpaid tax bills may be contacted by one of the following three agencies: CBE Group, Inc.,

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Troutman Sanders

OCTOBER 19, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On October 4, the CFPB announced that the deadline to request initial forbearance for loans backed by the U.S.

Financial services 52

Financial services Student loans Student Loans Debt collector 52

Troutman Sanders

SEPTEMBER 7, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. For more information, click here.

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

Sawin & Shea

AUGUST 24, 2020

Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debt collector 98

Better Credit Blog

FEBRUARY 5, 2021

As long as it’s there, a collections account can lower your credit score and hold you back from getting approved for credit cards, loans, jobs, and leases. If your lender or service provider isn’t able to collect payment for your debts, they will go into collections. Foreclosures. About BCA Financial Services.

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Financial services Collections Agency Collection Agencies Debt collector 60

Collection Industry News

JUNE 29, 2024

Total household debt includes mortgages, home equity lines of credit (HELOCs), student loans, auto loans, other, and credit cards.1 Student loan debt decreased by $6 billion to $1.60 1 Approximately 44,000 borrowers had foreclosure notations on their credit reports, a little more from the previous quarter.7

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Credit Card Debt Student Loans Student loans Lender 40

Better Credit Blog

MARCH 1, 2021

A collections account could result from unpaid fees, an overdrawn account, a credit card balance, or a defaulted loan. However, after some time passes, they may turn to a collections agency for assistance. Third-party collections agencies may also purchase your debts from institutions like BOA for pennies on the dollar.

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Banks Collections Debt collector Collections Agency 52

Better Credit Blog

MARCH 1, 2021

A collections account could result from unpaid fees, an overdrawn account, a credit card balance, or a defaulted loan. After some time passes, they may turn to a collections agency for assistance. Third-party collections agencies may also purchase your debts from institutions like BOA for pennies on the dollar.

Banks 52

Banks Collections Debt collector Collections Agency 52

Troutman Sanders

MAY 9, 2023

On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

Financial services 52

Financial services Student loans Student Loans Loans 52

Better Credit Blog

FEBRUARY 24, 2021

What Is First National Collection Bureau? If you’re concerned about First National Collection Bureau’s legitimacy, you can rest assured knowing the agency is valid. First National is a certified collections agency headquartered in Nevada. They have been collecting on consumer debt since it was founded in 1983.

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Collections Collections Agency Collection Agencies Third-party Debt Collectors 56

Troutman Sanders

OCTOBER 11, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. The department estimates the waiver will make roughly 22,000 borrowers immediately eligible to have their loans erased automatically.

Financial services 52

Financial services Loans Lender Foreclosure 52

Better Credit Blog

FEBRUARY 24, 2021

What Is First National Collection Bureau? If you’re concerned about First National Collection Bureau’s legitimacy, you can rest assured knowing the agency is valid. First National is a certified collections agency headquartered in Nevada. They have been collecting on consumer debt since it was founded in 1983.

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Collections Collections Agency Collection Agencies Third-party Debt Collectors 52

Better Credit Blog

DECEMBER 2, 2020

We’ll tell you a little more about Atlantic Credit, how debt collection works, and what you can do to get the collections agency off your credit report, stopping their calls in the process. However, Atlantic Credit & Finance, LLC, is a legitimate debt collection agency. New to debt collection?

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Collections Agency Collection Agencies Debt collector Collections 52

Troutman Sanders

MARCH 22, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. As of March 18, the department intends to issue full loan discharges for borrowers with approved borrower defense claims.

Financial services 52

Financial services Garnishment Student loans Student Loans 52

Troutman Sanders

OCTOBER 4, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Beginning September 23, taxpayers with unpaid tax bills may be contacted by one of the following three agencies: CBE Group, Inc.,

Financial services 52

Financial services Financial Institution Foreclosure Student loans 52

Better Credit Blog

DECEMBER 8, 2020

When BP SYNCB winds up on your credit report, it’s most likely as a hard inquiry, which occurs when you apply for new credit cards or loans. That means all three of your credit scores could be impacted when you apply for a credit card or loan. Collections agencies. Foreclosure. Charge-offs. Late payments.

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Collections Agency Collection Agencies Loans Banks 52

Better Credit Blog

JANUARY 21, 2021

It offers a range of products, like MMAs, IRAs, CDs, loans, and credit cards. Hard inquiries also happen when you apply for a loan or line of credit. Pre-qualify for a loan offer. Several inquiries can be a red flag to potential lenders, so you should check into the approval requirements before applying for some cards and loans.

Retail 52

Retail Banks Loans Repossession 52

Troutman Sanders

MARCH 1, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. The 2020 review found that credit risk for large, syndicated loans has increased over the last year.

Financial services 52

Financial services Foreclosure Financial Institution Government 52

Troutman Sanders

JANUARY 11, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. The PPP will open to all participating lenders shortly thereafter. For more information, click here.

Financial services 52

Financial services Foreclosure Collections Agency Collection Agencies 52

Credit Corp

SEPTEMBER 12, 2023

Typically, they only appear if you listed them on a credit card application or loan. Delinquent or collections accounts: An account is delinquent if you miss a payment due date. If you miss enough payments for lenders to transfer your account to a collection agency or sell it to a debt buyer, it becomes a collections account.

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Bankruptcy Lender Student Loans Student loans 93

Better Credit Blog

JANUARY 21, 2021

Get quotes for an insurance policy, credit card, or loan. They take place when you move past the stage of comparing quotes and actually apply for a loan or a credit account. Before you apply for your next credit card or loan, take a few moments to research your approval odds. Collections entries. Foreclosures.

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Lender Loans Foreclosure Collection Agencies 52

Better Credit Blog

NOVEMBER 23, 2020

or FMS Corp, is a third-party debt collection agency headquartered in Tulsa, Oklahoma. The agency also has a location in Boise, Idaho. All in all, the agency is completely legit. collects on a wide range of debts from several industries, including: Education. What Is FMS Inc.? Bank cards. Check recovery.

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Debt collector Collections Agency Collection Agencies Collections 52

Better Credit Blog

DECEMBER 31, 2020

Project Loan. When you apply for any one of these cards, loans, or credit accounts, you authorize Citibank to run a hard credit check. If you took it a step further and applied for a card or loan from the retailer, the THD/CBNA entry on your report is a hard inquiry. Collections agencies. Foreclosure.

Retail 52

Retail Lender Loans Repossession 52

Better Credit Blog

SEPTEMBER 4, 2020

They will appear on your credit report as a collection agency, and this entry can cause problems for your credit score. This can impact your ability to qualify for a mortgage, car loan, or various credit cards in the future. In fact, you may not have to talk to TrueAccord again. Ask Sky Blue for Help. What is TrueAccord?

Debt collector 55

Debt collector Collections Agency Collection Agencies Collections 55

Jimerson Firm

JANUARY 16, 2023

Accredited Collection Agency Inc. , No. The court found that the plaintiffs suffered for over two-and-a-half-years with stress, anxiety, and sleeplessness as a result of the defendant’s misrepresentations regarding the amount of debt owed, which peaked when the defendant filed a foreclosure action. See, e.g., Lane v.

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Garnishment Foreclosure Banks Consumer Collections 52

Better Credit Blog

APRIL 11, 2022

If you see an old phone number, chances are it is still on file with the financial institution that issued the loan or credit card. The types of credit accounts you can expect to see in this section include: Mortgages , home equity loans, and home equity lines of credit. Student Loans. Auto Loans. Foreclosure.

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Creditors Loans Credit Bureau Lender 15

Troutman Sanders

MAY 17, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. 248, which limits a collection agency’s ability to collect on medical debt. For more information, click here.

Financial services 52

Financial services Foreclosure Collections Agency Collection Agencies 52

Troutman Sanders

FEBRUARY 22, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Borrowers deserve and desperately need relief from their Federal student loan burden, and they need that relief immediately.”

Financial services 52

Financial services Student Loans Student loans Financial Institution 52

Troutman Sanders

FEBRUARY 16, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On February 8, HB 32 was introduced in Ohio, seeking to place a moratorium on the collection of some student loans and health care debt.

Financial services 52

Financial services Student Loans Student loans Banks 52

Better Credit Blog

AUGUST 4, 2020

FNB Omaha is not a scam or a debt collection agency. Home loans. Auto loans. Personal loans. Student loan refinancing. Debt collections. Foreclosures. When you apply for a card or a loan from the popular national bank, it’s likely to have a minor impact on your credit score. Charge offs.

Banks 52

Banks Lender Loans Student loans 52

Troutman Sanders

JANUARY 19, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Department of Education to continue excusing borrowers from making payments on their student loans in light of the COVID-19 pandemic.

Financial services 52

Financial services Garnishment Foreclosure Government 52

Troutman Sanders

MAY 3, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. 248, a bill revising provisions for collecting medical debt. For more information, click here. For more information, click here.

Financial services 52

Financial services Foreclosure Collections Agency Collection Agencies 52

Collection Industry News

SEPTEMBER 23, 2020

However, over the past several years, the civil courts in most states have been overrun by debt collection cases against consumers. The increase in lawsuits filed against consumers for unpaid medical debt, credit card bills, automobile loans and other collection issues comes as no surprise to attorneys and others working in the industry.

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Collections Debt collector Chapter 13 bankruptcy Chapter 7 bankruptcy 40

Troutman Sanders

SEPTEMBER 20, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On January 31, 2022, the pause on interest and payments for federally held student loans will end. For more information, click here.

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Financial services Foreclosure Debt collector Student loans 52