Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

AUGUST 18, 2021

With current employers: In a Chapter 13 bankruptcy, your employer may or may not know, In some cases, payments will be automatically deducted from your paycheck as part of your bankruptcy repayment plan. Your bankruptcy attorney will have to notice your employer after filing in order for the garnishment to stop. In fact, under the U.S.

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Taurus Collect

FEBRUARY 27, 2023

This usually happens after you’ve received multiple warnings from your creditor. At this point, you may be subject to legal action, including wage garnishment or seizure of property. This judgment could lead to wage garnishment, liens on your property or require bank account attachment. Read on to learn more.

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The Kaplan Group

OCTOBER 19, 2020

You may also be responsible for paying the costs of the creditor hiring a collection agency or legal costs. If you default on a payment, this clause allows the company to collect the full amount due under the entire term of the contract, not just the one payment that became delinquent. Garnishment. Acceleration Clause.

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Taurus Collect

MAY 11, 2023

Debt collectors call at all hours of the day and pressure is put on borrowers to quickly make payments in full. Overview of The Credit Card Debt Collection Process Credit card debt collection can be a stressful experience for both the debtor and the creditor. They may ask for payment or offer a repayment plan.

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Credit Corp

MARCH 8, 2023

The IRS doesn’t report tax debt or payments to the credit bureaus. So, your credit won’t take a direct hit if you’re late on a tax payment. At the same time, you won’t get any sort of positive credit impact for making payments on tax bills on time. Credit bureaus only report items that are reported to them.

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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. Maintaining a consistent payment history after bankruptcy can help rebuild your credit.

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Sawin & Shea

JUNE 28, 2023

People file for bankruptcy for any number of reasons, from sky-high medical expenses to loss of income and the inability to make their mortgage payments each month. You will have to repay the trustee, and in some cases, the trustee can go after your family or friends to recoup those payments.

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Sawin & Shea

JANUARY 18, 2023

Unsecured debts are not backed by collateral, such as car payments and home mortgages. Suppose you have enough money left over each month after necessary expenses and debt payments. You’ll also need to supply the bankruptcy court with a list of creditors, an income statement, and copies of your tax records.

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Sawin & Shea

APRIL 3, 2024

During that process, they may consider your finances, missed payments, and credit, especially if your career requires you to handle money. It is against the law for an employer to fire you on the basis of your bankruptcy, and this includes both government and private employers.

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Sawin & Shea

JUNE 9, 2021

Whether you have missed a single payment somewhere along the line or are delinquent on several payments, the last thing you want is to be harassed by debt collectors. In most cases, people know that they are behind on payments and are struggling to deal with the issue. They don’t have carte blanche to do whatever they want.

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Burr Forman

DECEMBER 4, 2020

With new and impending changes in both the economic and political landscape, financial institutions have had to adapt to ever-changing policies governing consumer loan servicing and debt collection. Debtors must notify creditors if they are facing financial hardship due to COVID-19, but no additional documentation is required for protection.

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Taurus Collect

JANUARY 23, 2023

Many people rely on their tax refunds to pay off large sums of debt or otherwise use them as an opportunity to catch up on overdue payments without facing hefty late fees. Secondly, during tax season, many creditors will offer incentives and discounts to encourage individuals to repay their debt.

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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. Car Payments.

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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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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. Automatic payments have been put on hold during this time as well. You can continue to make payments if you want.

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Debt Free Colorado

MARCH 3, 2023

Are My Creditors capable of appealing My Bankruptcy? Chapter 7 bankruptcy Given its straightforward and simple nature, Chapter 7 is sometimes referred to as straight bankruptcy since it involves selling the debtor’s assets, and splitting the money among creditors. What Can’t Bankruptcy Do? What Debts are Discharged in Bankruptcy?

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Collection Industry News

AUGUST 4, 2020

Democrat senators on Tuesday proposed 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. Interest or fees shall not accrue while the payment plan is suspended. Chris Van Hollen, D-Md.,

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Sawin & Shea

JUNE 21, 2023

The Chapter 13 repayment plan consolidates your existing debts into a three to five-year plan to pay back your creditors, and initiating the process offers immediate protections, including an automatic stay, and allows you to keep all of your possessions. Filing for Chapter 13 bankruptcy can help you improve your financial situation.

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Taurus Collect

AUGUST 15, 2023

It’s even more daunting when your focus should be on running and growing your business rather than chasing overdue payments. Improved Cash Flow: With a team of experts handling your debt collection, you can expect a faster recovery of overdue payments, leading to improved cash flow and a healthier balance sheet.

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PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. by the existence of a separate provision, §542, that expressly governs the turnover of estate property.”

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Troutman Sanders

AUGUST 3, 2020

The bill defines “extraordinary” collection actions as selling debt to a third party, reporting the debt to a credit bureau, denying medical care, placing a lien on a property, foreclosing on a property, seizing property or funds from a bank account, commencing a civil action, and garnishing an individual’s wages. As part of S. As part of S.

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Troutman Sanders

JUNE 15, 2021

On June 8, California Attorney General Rob Bonta warned “financial institutions, creditors and debt collectors that it is illegal to seize federal Child Tax Credit payments for individual debts in California.” This EO calls on both the federal government and the private sector to identify, deter, detect, and respond to cyber incidents.”

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Troutman Sanders

NOVEMBER 13, 2023

On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend the existing regulations defining “larger participants” the CFPB supervises by adding a new section to define larger participants that offer digital wallets, payment applications, and similar services.

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Better Credit Blog

APRIL 1, 2022

If you’re unable to pay your original creditor, your debt may pass to a debt recovery agency, earning a collection letter and possibly a stain on your credit report. This means that you’re not dealing with the initial creditor. They cannot send letters with the appearance of an official government or court letter.

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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. For more information, click here.

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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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Troutman Sanders

AUGUST 9, 2021

On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022. 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.

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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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Troutman Sanders

NOVEMBER 7, 2023

The company expects to have sufficient funds to fully repay unsecured creditors. The recent discussions focused on four areas: cryptoassets, payment system modernization, distributed ledger technology, and artificial intelligence (AI). Bittrex had previously paid more than $29 million in fines for alleged U.S. sanctions violations. -UK

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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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Better Credit Blog

SEPTEMBER 8, 2020

It could only take one missed payment on your car loan, credit card, or phone bill to harm your credit score and wind up on a debt collector like Northland Group’s list. Before you consider making a payment to a company, it’s essential to know who they are. Government. What Is Northland Group? Northland Group, Inc., Healthcare.

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Debt Free Colorado

DECEMBER 7, 2016

Sign the contract for legal services and make your first payment. Make Payments – Within 4 months of retaining. Turn in Paperwork – With your final attorney’s fee payment. Once you’re ready to make your last payment, call our office to set up a time to drop off all your paperwork.

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Troutman Sanders

DECEMBER 20, 2022

The redress payment stems from a 2019 lawsuit filed against Premier by the CFPB, the Minnesota attorney general’s office, the North Carolina Department of Justice, and the Los Angeles city attorney. The plaintiffs, led by the Arizona Creditors Bar Association, Inc., For more information, click here. For more information, click here.

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