article thumbnail

Dealing with Debt Collectors

Debt Free Colorado

In this article we will answer the question: What can debt collectors do to you? Does Colorado Law Protect Me From Debt Collectors? 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.

article thumbnail

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

FFGN COLLECT NY

Debt Collection in 2024 The governor mentioned debt collectors and their interactions specifically regarding retired seniors, noting concerns that seniors are giving up retirement income. In New York, retirement income from Social Security and other sources are exempt from garnishment.

Insiders

Sign Up for our Newsletter

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

article thumbnail

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

Collection Industry News

Debt Collection in 2024 The governor mentioned debt collectors and their interactions specifically regarding retired seniors, noting concerns that seniors are giving up retirement income. In New York, retirement income from Social Security and other sources are exempt from garnishment.

article thumbnail

What Is a Judgment?

Credit Corp

This is known as wage garnishment. These payments are sent to the judgment creditor until your debt is paid. 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.

article thumbnail

You’re in Debt: 9 Terms to Know

The Kaplan Group

Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. These companies can be very risky and using them can have a negative impact on your credit score. You can learn more about involving the courts in debt collection here.

article thumbnail

What is a Judgment?

Credit Corp

Common methods include wage garnishment , property attachments and property liens. This is known as wage garnishment. These payments are sent to the judgment creditor until your debt is paid. The Consumer Credit Protection Act caps these types of garnishments. Nonwage garnishment. These laws vary.

article thumbnail

Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Another revision makes it mandatory for hospitals seeking to garnish a patient’s wages or bank accounts to include with the summons and complaint initiating such action an “affidavit of expert review” making various certifications.