Creditors Garnishment Student Loans Trade 
Better Credit Blog
APRIL 1, 2022
A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. If you can, try to settle with the original creditor.
Troutman Sanders
MARCH 22, 2021
Department of Education announced that about 72,000 student loan borrowers, who were defrauded by their schools, will receive student loan forgiveness that could total $1 billion. On March 17, Virginia Attorney General Mark Herring announced a new law preventing garnishment or seizure of economic support payments.
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Better Credit Blog
APRIL 3, 2022
In other words, when the original creditor has been unsuccessful in collecting on a debt, it will write off the debt as a loss. Debt buyers like Portfolio Recovery Associates, LLC, buy hundreds of accounts at a time from credit card companies like CapitalOne and Discover and from student loan servicers and lenders.
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. Income-share agreements are a type of student loan, where the borrower receives a loan and then pays a percentage of his/her income after graduation.
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. The CARES Act offers relief for those with federal student loans.
Troutman Sanders
DECEMBER 20, 2022
Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the Eleventh Circuit in support of a plaintiff-appellant who filed a Section 1681s-2(b) claim against a furnisher for failing to conduct a reasonable investigation under the Fair Credit Reporting Act.
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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