Consumer Credit Garnishment Government Loans 
FFGN COLLECT NY
JANUARY 10, 2024
Hochul specifically mentioned student loan servicers who encourage the quickest repayment plans or plans not suitable for the party repaying. The government will look to stop these exploitative tactics and more. In New York, retirement income from Social Security and other sources are exempt from garnishment.
Collection Industry News
MARCH 17, 2024
The governor said: Plans to Outlaw Unfair and Abusive Collection Tactics Concerned with predatory business practices bilking people out of their hard-earned money, the government will focus on looking for bad actors. The government will look to stop these exploitative tactics and more. Over 700,000 New Yorkers have medical debt.
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Debt Free Colorado
FEBRUARY 21, 2022
The Fair Debt Collection Practices Act (FDCPA) applies to collection firms and debt collectors attempting to recover consumer debts. Consumer debts include credit card debts, vehicle loans, medical costs, and school loans. What is Colorado Uniform Consumer Credit Code (Colorado UCCC).
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.
Troutman Sanders
MARCH 11, 2024
The blog post posited that closing costs significantly impact a borrower’s financial commitment and, potentially, monthly payments and identified a “noticeable increase” in closing costs, with median total loan expenses on home purchase loans increasing by 21.8% between 2021 and 2022. For more information, click here.
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
Troutman Sanders
NOVEMBER 13, 2023
On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here. For more information, click here.
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