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 7 bankruptcy also stops lawsuits and wage garnishments. Like Chapter 7, it stops lawsuits and garnishments. Chapter 13 can help people keep assets that might be at risk in a Chapter 7.

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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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Sawin & Shea

JUNE 28, 2023

Repaying an ‘insider’ in the 12 months before declaring bankruptcy allows a bankruptcy trustee to reverse these payments as they have been given special treatment compared to all the other creditors. Plus, nonpayment of these charges can result in a judgment that garnishes your wages and bank accounts.

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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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Taurus Collect

JANUARY 23, 2023

Secondly, during tax season, many creditors will offer incentives and discounts to encourage individuals to repay their debt. Lastly, creditors may be more willing to negotiate payment plans and lower interest rates during tax season due to increased competition among lenders and increased consumer confidence levels.

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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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Troutman Sanders

AUGUST 9, 2021

On August 3, Federal Reserve Board announced that it will extend the comment period for its proposal to govern funds transfers over the Federal Reserve Banks’ FedNow Service until September 9. On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022.

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Debt Free Colorado

NOVEMBER 13, 2017

government agency that makes sure banks, lenders, and other financial companies treat you fairly”, Freedom Debt Relief’s offers actually were too-good-to-be-true. Freedom does not make clear to consumers that they may need to handle the negotiations with those creditors themselves.

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Better Credit Blog

AUGUST 31, 2020

There are two key distinctions here: Third-party debt collectors: The FDCPA pertains to collection attempts by third-party collectors/debt collection agencies, who either purchase debts from lenders/service providers or are employed by them to help collect payments. The law does not pertain to the initial creditor or provider.

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Troutman Sanders

JULY 27, 2020

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from being garnished by judgement creditors and debt collectors, similar to how Social Security payments are exempt from being garnished. On July 23, 2020, the Senate unanimously passed S.

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Better Credit Blog

SEPTEMBER 8, 2020

Government. Companies like LVNV Funding specialize in purchasing debts from lenders and service providers. After a debt has gone unpaid for a month or longer, your service provider or creditor may sell it to a debt buyer. They might even threaten to garnish your wages, depending on where you live. Credit cards.

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Sawin & Shea

JUNE 9, 2021

The FTC (Federal Trade Commission) is an arm of the United States government that enforces consumer protection and antitrust laws. Approximately one third of consumers with a credit bureau file were contacted by at least one creditor or debt collector each year, according to a CFPB (Consumer Financial Protection Bureau) survey.

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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

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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Credit Corp

JULY 30, 2020

As COVID-19 and related shutdowns caused economic issues across the nation, the federal government passed the CARES Act , which included some stimulus relief for student loan holders. If your loan is automatically paused during this time, the creditor is not supposed to report missed payments to the credit bureaus. Doing nothing.

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