The Kaplan Group

OCTOBER 19, 2020

Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. Garnishment. Garnishment is when a creditor takes part of your paycheck or money from your bank account to collect money you owe on a judgment. Statute of Limitations.

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Credit Corp

MAY 30, 2023

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.

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FFGN COLLECT NY

JANUARY 6, 2023

Decreasing the legal rate of interest on consumer claims from 9% to 2%. Putting an end to the use of wage garnishments (income executions) in New York to collect medical judgments. Prohibiting a creditor from entering or enforcing a medical judgment by placing a lien against a debtor’s primary residence.

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Troutman Sanders

MARCH 1, 2021

Taking actions that require a legal or judicial process, including: (a) placing a lien on an individual’s property; (b) foreclosing on an individual’s real property; (c) attaching or seizing an individual’s bank account or any other personal property; (d) commencing a civil action against an individual; or (e) garnishing an individual’s wages.

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Collection Industry News

MARCH 17, 2024

In New York, retirement income from Social Security and other sources are exempt from garnishment. Expect a bill to be introduced prohibiting debt collectors from accepting voluntary payments from a consumer whose only source of income is income itemized in the funds exempted from garnishment.

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Collection Industry News

MARCH 2, 2021

Democratic senators have reintroduced legislation to prevent health care providers from actions such as wage garnishment in connection with medical debts. wage garnishment, bank account seizure) during the covered period (i.e. wage garnishment, bank account seizure) during the covered period (i.e. Chris Van Hollen, D-Md.,

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Better Credit Blog

MAY 12, 2022

And, after ordering you to repay the money, a judge could approve wage garnishment which means the court would take part of your paycheck and give it to the creditor before you even see the money! Just like with consumer credit, debt from a civil judgment must be validated under the Fair Credit Reporting Act.

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Troutman Sanders

MARCH 11, 2024

If enacted, the bill would, among other things, prohibit medical debts from being reported on consumers’ credit reports. The bill would even prohibit credit reporting agencies from accepting information about consumers’ medical debts.

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Troutman Sanders

NOVEMBER 2, 2020

State Activities: On October 30, Virginia Governor Ralph Northam signed House Bill 568, which automatically exempts emergency relief payments, as defined in the bill, from the creditor process, including garnishments and liens. For more information, click here.

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Debt Free Colorado

NOVEMBER 13, 2017

” The Consumer Protection Section, Consumer Credit Unit of the State Of Colorado Department of Law published an “Information for Consumers” handout which explains the following with respect to debt management in Colorado: You may be able to negotiate a favorable settlement yourself, without paying fees to debt.

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Troutman Sanders

NOVEMBER 13, 2023

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.

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Troutman Sanders

APRIL 18, 2022

Federal Activities: On April 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a report titled, “ Student Loan Borrowers Potentially At-Risk when Payment Suspension Ends.” On April 7, Colorado Governor Jared Polis signed Senate Bill 86 into law as Chapter 74 of the Laws of 2022. For more information, click here.

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Troutman Sanders

NOVEMBER 24, 2020

Among those directives, the service of a garnishment summons, wage deduction summons, or a citation to discover assets on a consumer debtor or consumer garnishee are suspended through December 12. Pritzker issued Executive Order 2020-71, which reinstituted 30 previous executive orders. For more information, click here.

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Katabat

MARCH 30, 2021

And when they do, there could be millions of families unable to resume paying mortgages, car payments, credit cards, student loans, who could be at risk of losing their homes, their cars, having their wages and bank accounts garnished, who will struggle to put food on the table and take care of their families.”. * * *.

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Troutman Sanders

NOVEMBER 8, 2022

House of Representatives, seeking to protect a greater portion of consumers’ disposable income from garnishment. 9224) would amend the Consumer Credit Protection Act to raise the amount of a consumer’s disposable income protected from garnishment to $1,000 or 75%, whichever is greater.

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Collection Industry News

JUNE 28, 2021

In a letter to the the Consumer Financial Proection Bureau (CFPB), Democratic Sens. recommended a series of actions to protect consumers’ credit scores, provide patients with more information about financial assistance and coverage options, and give them more time to dispute or resolve debts before they are sent to collections. “The

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Collection Industry News

JANUARY 13, 2025

The spokesperson added that AccessOne offers favorable financing rates for patients and that the partnership helps to protect them from paying interest rates in the upper-20% range associated with consumer credit cards. Advocate Health said its decision to stop using the program was unrelated to the Guardians record request.

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Troutman Sanders

MARCH 15, 2021

House of Representatives that seeks to amend the Fair Credit Reporting Act to exclude COVID-19-related evictions from consumers’ credit reports. Pritzker issued an executive order extending the suspension of garnishment, deduction of wages, and post-judgment citations to discover assets through April 3.

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Troutman Sanders

AUGUST 31, 2020

Pritzker extended Executive Order 2020-25, which includes limits on garnishments and wage deductions. The no-action memo concerns the requirement that any Connecticut licensable activity by a Consumer Credit Licensee be conducted from a licensed branch office location so long as certain criteria are met.

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