FFGN COLLECT NY

JUNE 3, 2020

With both consumers and small businesses receiving funds from the Paycheck Protection Program (PPP) and CARES Act, questions have come up as to whether these amounts can be frozen or garnished by debt collectors or creditors. For commercial judgment debtors, although an unintended consequence, an exemption of $2,850 is applied.

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Debt RR

AUGUST 3, 2020

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other 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.

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Debt RR

AUGUST 3, 2020

It’s not uncommon for businesses to take on debt. Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Calls from a commercial debt collector can create an enormous amount of stress for many business owners.

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Troutman Sanders

APRIL 19, 2021

Senator Ted Cruz introduced the Financial Institution Customer Protection Act of 2021, which seeks to prohibit financial institutions from denying services to law-abiding businesses, such as companies in the accounts receivable management industry. On April 13, U.S. For more information, click here.

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Financial services Student loans Student Loans Financial Institution 52

Troutman Sanders

NOVEMBER 1, 2021

Third, the CFPB released a new guidance document titled, “ Debt Collection Rule: Disclosing the Model Validation Notice Itemization Table ,” which reviews certain required validation information, includes examples, and illustrates how a debt collector could comply with the requirement to disclose that information.

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