Jimerson Firm

DECEMBER 14, 2021

Two important statutes for all businesses to be aware of are the Florida Consumer Collection Practices Act (FCCPA) and the Fair Debt Collection Practices Act (FDCPA). Fair Debt Collection Practices Act. A person attempting to collect his or her “own” debt, is not a debt collector under the FDCPA. See Stanley v.

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Credit Corp

JUNE 14, 2023

More than 10% of subprime auto loan customers were behind on payments by 60 days or more in early 2021. We’ll break down when a car payment is late, as well as other common loans, so you’ll be prepared to pay your loans on time. How Late Can You Be on a Mortgage Loan Payment? How Late Can You Be on Student Loans?

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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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FFGN COLLECT NY

AUGUST 16, 2020

Most business owners have a line of credit with the bank but don’t realize that, as the business owner, they may be personally responsible for repaying any monies loaned. When it comes to unexpected expenses and opportunities, a line of credit provides a loan at the ready. If you don’t borrow, there’s nothing to repay.

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Better Credit Blog

NOVEMBER 23, 2020

While you might expect a credit check when you apply for a loan, many consumers don’t realize that background checks can result in a hard credit check as well. Soft credit pulls happen when you check your score with a credit monitoring app or get pre-approved for loan offers. Collections-stage debt. Charge offs. Foreclosure.

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Credit Corp

MAY 30, 2023

Quasi in rem: Quasi in rem judgments consider the legal rights of individuals and not necessarily all parties involved. Law enforcement may seize things like valuable collections or jewelry to be sold at auction. The judgment creditor can then use that court judgment to try to collect money from you. Property levies.

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Collection Industry News

JULY 27, 2021

One of the debt collectors filed suit against three of the consumers to collect payment, but voluntarily withdrew the suits after the consumers claimed that the debt collector did not own their debts, demanded proof of ownership, and requested arbitration. The change in ownership was reported to the three prominent credit reporting agencies.

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Credit Corp

MARCH 23, 2023

If your landlord reports your late payments to the credit bureaus or uses a collection agency to recoup their money, it could show up on your credit report. This can negatively impact your credit score and make it harder to get approved for a new rental or loan. Breaking a lease without paying your rent could impact your credit score.

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Troutman Sanders

NOVEMBER 8, 2022

On November 2, the Consumer Financial Protection Bureau (CFPB) released a blog post, exploring the potential impact of student loan payment reinstatement. The CFPB found that student loan borrowers are increasingly likely to struggle once their monthly student loan payments are reinstated. For more information, click here.

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Better Credit Blog

FEBRUARY 11, 2022

National Debt Relief has negotiated settlements with thousands of creditor and collection accounts. National Debt Relief won’t collect its cut of the money in advance. The company’s highly knowledgeable debt arbitrators have spent more than a decade forming positive working relationships with several creditors and collection agencies.

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FFGN COLLECT NY

JANUARY 31, 2024

That would include pursuing a Debt collection company that acts deceptively and fraudulently. As guardian of the rights of the people (and small businesses) the New York State Attorney General pursues bad actors. Some Debt collection companies act wrongly and engage in Fraudulent and deceptive behaviors.

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