Remove Collections Remove Consumer Credit Remove Garnishment Remove Government
article thumbnail

How New York State’s 2024 Plan Will Affect Debt Collection

FFGN COLLECT NY

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike.

article thumbnail

How New York State’s 2024 Plan Will Affect Debt Collection

Collection Industry News

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Dealing with Debt Collectors

Debt Free Colorado

When collecting a debt from you, collection agencies must adhere to federal and state rules. Fortunately, the federal Fair Debt Collection Practices Act (FDCPA) protects all states. You have rights to help you gain control over your debt collection interactions. Call or text you to collect a debt between 8 a.m.

article thumbnail

Senators Urge Biden Admistration To Protect Patients From Medical Debt Collections

Collection Industry News

Senate Democrats are calling on federal authorities to take action on aggressive medical debt collection, citing reports about hospitals suing patients over unpaid bills. In a letter to the the Consumer Financial Proection Bureau (CFPB), Democratic Sens. Chris Murphy (Conn.) and Chris Van Hollen (Md.) Chris Murphy (Conn.)

article thumbnail

You’re in Debt: 9 Terms to Know

The Kaplan Group

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. The law does not apply to collecting from businesses. Interest and Collection Costs.

article thumbnail

What Is a Judgment?

Credit Corp

This is known as wage garnishment. The Consumer Credit Protection Act caps these types of garnishments. Nonwage garnishment. If you’re retired, unemployed, or self-employed, your bank account may be garnished instead. Some states add even more restrictions to the garnishment of bank funds.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Drawing on expertise from key governmental bodies, the proposed legislation seeks to establish a comprehensive framework for stablecoin governance. toward the plaintiff’s litigation expenses and will publish a new Federal Register notice for proposed information collection. Additionally, the DOE agreed to pay $2,199.45