Jimerson Firm

SEPTEMBER 22, 2020

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. This article explores Section 697.07, Florida Statutes, which governs the assignment of rents. Losing the Right to Collect Rents: Junior Foreclosure Sales.

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Collection Industry News

MAY 18, 2021

Despite objections from CUNA and NAFCU, the House of Representatives passed the Comprehensive Debt Collection Improvement Act on Thursday. 2547, the Non-Judicial Foreclosure Debt Collection Clarification Act, which would reverse the unanimous decision made by the Supreme Court of the United States (SCOTUS) in 2019.

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Jimerson Firm

JANUARY 26, 2021

In Florida, lenders typically obtain an “assignment of rents” if the property produces income by collecting rent, such as an apartment complex, rental home, rental space, or office building. An “assignment of rents” allows the lender to collect the rent payments, if the borrower defaults on their loan payments. 3d 932, 934 (Fla.

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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. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.

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Better Credit Blog

FEBRUARY 15, 2021

Are collections accounts weighing heavily on your credit report? If you’ve fallen behind on any of your accounts, you could find Fairway Collections on your credit report. As long as the collections entry stays on your report, it’s hurting your score. About Fairway Collections. Self-pay collections.

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Better Credit Blog

FEBRUARY 12, 2021

Did you know the unpaid tolls can go to collections just like any other type of debt? As long as EZ Pass Collections is on your credit report, it can lower your score and hold you back from getting the financing you need. Instead, you should use one of the strategies below to ensure that EZ Pass Collections gets removed ASAP.

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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. Both short sales and bankruptcies involving foreclosures will show up as negative hits on your credit report. A foreclosure (without bankruptcy) will stay on your credit report for 7.

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Troutman Sanders

AUGUST 9, 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. s emergency debt collection bill. You may access this interactive tool at [link]. For more information, click here.

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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. You may access this interactive tool at [link]. For more information, click here. For more information, click here.

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Debt Free Colorado

APRIL 9, 2020

You can work directly with the mortgage lender on a loan modification, or reach out to the Colorado Foreclosure Hotline for free assistance. While credit cards and other unsecured loans are almost always the most aggressive when it comes to collecting debts, they should generally be your lowest priority. Credit Cards.

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Troutman Sanders

OCTOBER 16, 2023

In its amicus brief, NASAA pushed back on Coinbase’s motion for judgment on the pleadings, which sought to dismiss the SEC’s case with a ruling that Coinbase has not listed investment contracts based on the existing facts. For more information, click here. On October 11, B25-0449 was signed by Mayor Muriel Bowser (D). On October 10, D.C.

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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. Are you at risk of falling into foreclosure, being evicted, or having your utilities cut off? Do Bankruptcies Come in Different Types? What Can’t Bankruptcy Do?

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Troutman Sanders

OCTOBER 26, 2020

Federal Activities: On October 23, the Financial Action Task Force concluded its 32nd plenary meeting and continued to focus on the impact of the COVID-19 pandemic on detecting and countering fraud, including attempts to defraud government-backed stimulus programs. For more information, click here. For more information, click here.

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Better Credit Blog

FEBRUARY 12, 2021

The longer you ignore a collections entry, the more damage it can do to your report. Evergreen Professional Recoveries is a legitimate debt collection agency and member of the American Collectors Association. Evergreen Professional Recoveries is a legitimate debt collection agency and member of the American Collectors Association.

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Fraser

SEPTEMBER 3, 2020

” Landlords can still charge and collect of fees, penalties, and interest as a result of the failure to pay rent, assuming they are allowed for under the lease. A court could find that the general common law of contracts and court eviction-governing statutes could be the exact laws that shall not be preempted by the federal scheme. .

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Troutman Sanders

APRIL 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. You may access this interactive tool at [link]. For more information, click here. State Activities: On April 14, Illinois Governor J.B.

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Collection Industry News

OCTOBER 6, 2020

It primarily had the CARES Act to thank: The bill delivered hundreds of billions of dollars worth of stimulus checks and bulked-up unemployment benefits to Americans, while easing pressures on them by halting foreclosures, evictions and student loan payments. There was no ban on collections of old credit card bills, Encore’s specialty.

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Better Credit Blog

JANUARY 29, 2021

Debt collections entries. Foreclosures. Whenever you suspect identity fraud, you can report it to the government, placing a freeze on your reports and alerting the bureaus to the situation. If you’re dealing with more complex credit issues and feel that you’re in over your head, they’re well-equipped to assist you. Charge offs.

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FDCPA Defense

FEBRUARY 1, 2018

Attorneys and other entities that regularly engage in collection work for community associations may be subject to the requirements of the Fair Debt Collection Practices Act, 15 U.S.C. as well as analogous state laws governing the consumer collection process. The issue in Ho v. 21, 2017) (No.

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Troutman Sanders

MAY 9, 2023

On May 4, the White House published technology standard document “United States Government National Standards Strategy for Critical and Emerging Technology.” For more information, click here. competitiveness and national security ….” On May 4, Colorado Governor Jared Polis signed SB93 into law. HB1349 will take effect on July 23.

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Jimerson Firm

FEBRUARY 18, 2021

2] This result can be potentially disastrous to a mortgage lender that may lose the value of a first priority mortgage lien as security for the loan, and potentially have the mortgage subject to being foreclosed in a construction lien foreclosure lawsuit. Notices of commencement are governed by Fla. Notices of Commencement Under Fla.

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FDCPA Defense

JANUARY 22, 2017

(This post is adopted from the materials presented at the CAI Law Seminar in Las Vegas, Nevada on January 20, 2017) Demystifying the FDCPA Class Action For HOA Attorneys Consumer attorneys have been filing FDCPA class actions against collection attorneys for decades, and the pace of those filings has increased sharply in the past ten years.

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Debt Free Colorado

DECEMBER 9, 2021

The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Short foreclosure protection – When your home is faced with foreclosure, the automatic stay is not in effect indefinitely. Complete protection from creditors – This includes wage garnishment and debt collection. medical debt .

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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. Currently set to expire on February 1, the collection actions subject to the moratorium include garnishment, attachment, and levy.

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Troutman Sanders

MAY 16, 2022

The SCIF intends to collect information about the borrower’s language preference, if any, and on any homebuyer education or housing counseling the borrower received, so lenders can better understand borrower needs during the home buying process. For more information, click here. For more information, click here.

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Collection Industry News

AUGUST 9, 2021

Circuit found that Judge Friedrich had not abused her discretion in granting the stay, largely because, in the court’s opinion, the government had “made a strong showing that it is likely to succeed on the merits, [since] Congress has expressly recognized that the [CDC] had the authority to issue its narrowly crafted moratorium under [the Act].”

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Troutman Sanders

MARCH 15, 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 FTC reminds consumers that the government will never ask them to pay anything upfront in any form to obtain stimulus money.

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Troutman Sanders

APRIL 26, 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. million home that alleged a fraudulent transfer by the operator of a debt-collection scheme. You may access this interactive tool at [link].

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Troutman Sanders

MAY 2, 2023

Khan appeared before the House Appropriations Subcommittee on Financial Services and General Government to discuss its FY 2024 budget request and the agency’s ongoing work. Government Money Market Fund.” government securities, cash, and repurchase agreements collateralized by U.S. For more information, click here.

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Troutman Sanders

JULY 26, 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. PST, the California Department of Financial Protection and Innovation will hold the inaugural meeting of its Debt Collection Advisory Committee.

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Troutman Sanders

AUGUST 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. 248 would require debt collectors to provide medical debtors with a 60-day notice of placement before collecting on any medical debt.

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Troutman Sanders

JUNE 28, 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 new law limits a collection agency’s ability to collect on medical debt. You may access this interactive tool at [link].

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Troutman Sanders

FEBRUARY 13, 2024

Supreme Court unanimously ruled that government agencies can be sued for violations of the Fair Credit Reporting Act (FCRA). However, the Court upheld the Third Circuit’s decision that the FCRA allows for suits against “any person,” including government agencies. The final settlement required the defendants to pay $10.9

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