Sawin & Shea

APRIL 13, 2021

If you are struggling to pay your mortgage and other bills, the good news is that the CARES Act (Coronavirus Relief and Economic Security) has extended the deadline for when the foreclosure moratorium is due to expire. Can you sell your house if you are in a foreclosure situation?

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Foreclosure 80

Debt Free Colorado

APRIL 9, 2020

Below you’ll find some strategies for working with your creditors and deciding which bills are the most important if you can’t pay them all. Reach out to your creditors. The decisions regarding which creditors get paid and which do not can have long term consequences and will require a strategy. Paying Rent.

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Student loans Student Loans Chapter 13 bankruptcy Chapter 7 bankruptcy 82

Debt Free Colorado

MARCH 10, 2023

At the beginning of the bankruptcy process, a petition is filed by the debtor or, less frequently, by creditors. By removing unmanageable debts and allowing creditors to seek some compensation based on the person’s or the business’ liquidated assets, bankruptcy gives a person or corporation a second opportunity.

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Sawin & Shea

AUGUST 4, 2021

This is when a lender agrees to take less than the total amount owed on the real estate from the sale. Your lender has to approve the short sale and will require quite a bit of documentation and paperwork from you. Your lender has to approve the short sale and will require quite a bit of documentation and paperwork from you.

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Bankruptcy Chapter 7 bankruptcy Foreclosure Lender 52

Titan Consulting

AUGUST 23, 2020

In many cases, you may also lose certain secured assets like homes and cars in a liquidation to pay your creditors some of what you owe. When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery? The Bankruptcy Option.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Credit Corp

MAY 1, 2024

Creditors may also make errors when reporting payment dates and payment amounts. Balance errors: A creditor may report the wrong balance or the wrong credit limit, which affects your credit utilization ratio. It’s also possible for the same account to be listed under two different creditors.

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The Creditors Rights

JUNE 7, 2016

Many lenders attempt to render their borrower bankruptcy remote by requiring the borrower to have on its board a director, known as a “blocking director,” whose consent is required for any bankruptcy filing. This harsh lesson was learned by the lender in In re: Lake Michigan Beach Pottawattamie Resort, LLC , 547 B.R. 899 (Bankr.

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Lender Bankruptcy Foreclosure Government 40

Debt Free Colorado

MARCH 3, 2023

Are My Creditors capable of appealing My Bankruptcy? For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. What Can’t Bankruptcy Do? What Should I Consider Before Filing for Bankruptcy? What Debts are Discharged in Bankruptcy?

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Sawin & Shea

OCTOBER 6, 2021

While the government created programs to assist those financially affected—such as the CARES Act—many who were already struggling before the hit of COVID-19 fell even further into debt. After the pandemic hit and it was evident that Americans were struggling to make ends meet, the government took action and enacted the CARES Act.

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Bankruptcy Chapter 13 bankruptcy Lender Government 98

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

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Sawin & Shea

JULY 19, 2023

Under Chapter 7, most people can keep their home and car, if desired, and receive automatic court protection from creditors. Chapter 13 , or reorganization bankruptcy, stops repossessions and foreclosures so you can save your home or investment. Chapter 7 bankruptcy also stops lawsuits and wage garnishments.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Garnishment 52

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. If finalized, this rule would require lenders to disclose information about their lending to small businesses.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

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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Financial Institution Garnishment Collections Foreclosure 52

Sawin & Shea

OCTOBER 6, 2021

While the government created programs to assist those financially affected—such as the CARES Act—many who were already struggling before the hit of COVID-19 fell even further into debt. After the pandemic hit and it was evident that Americans were struggling to make ends meet, the government took action and enacted the CARES Act.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Lender Government 52

Better Credit Blog

JANUARY 29, 2021

Credit applications result in hard inquiries, which allow lenders to access your credit reports. Microbilt is a third-party credit report provider that helps lenders assess how risky prospective borrowers are. They occur when you apply for credit, and they allow lenders access to all the data in your credit reports. Charge offs.

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Fico Collections

NOVEMBER 3, 2022

The last time there was a significant economic downturn, creditors hadn’t learned this lesson and consequently failed to carry out the actions and collection methods highlighted. Elsewhere, in markets like Turkey, where inflation is running at +70%, it’s only government intervention that’s delaying an indebtedness crisis.

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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 ….” For more information, click here. HB1349 will take effect on July 23.

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Debt Free Colorado

DECEMBER 9, 2021

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Creditors are prohibited from contacting you after your petition is filed.

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Troutman Sanders

MAY 17, 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. cybersecurity practices and protect federal government systems. You may access this interactive tool at [link]. On May 12, Oregon H.B.

Financial services 52

Financial services Foreclosure Collection Agencies Collections Agency 52

Troutman Sanders

FEBRUARY 22, 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]. Currently, the act only applies to persons who service student loans.

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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. You may access this interactive tool at [link]. For more information, click here. On April 22, the U.S. ” For more information, click here.

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Financial services Debt collector Loans Banks 52

Troutman Sanders

MAY 2, 2023

The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan, as well as provide a framework for how these loans will be treated under the Truth in Lending Act. Government Money Market Fund.” government securities, cash, and repurchase agreements collateralized by U.S. On April 27, the U.S.

Financial services 52

Financial services Trade Consumer Credit Government 52

Troutman Sanders

NOVEMBER 7, 2023

Small Business Administration (SBA) announced that it has granted three new Small Business Lending Company (SBLC) licenses to lenders focused on historically underserved markets — the first expansion of the SBLC program in more than 40 years. The company expects to have sufficient funds to fully repay unsecured creditors.

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Collection Industry News

AUGUST 25, 2020

No doubt, delinquent consumer debt will cause bankruptcies and foreclosures, flooding our courts and weakening our communities. Consumers are scrambling for relief from creditors. But as in the 2008 crisis, most creditors are ill-prepared for the dramatically increased demand for customer service.

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Troutman Sanders

FEBRUARY 13, 2024

The ruling is a victory for other Genesis creditors who could be due for a full recovery on their claims. Supreme Court unanimously ruled that government agencies can be sued for violations of the Fair Credit Reporting Act (FCRA). The defendants and the CFPB jointly agreed to the dismissal of their respective appeals. million penalty.

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