Sawin & Shea

NOVEMBER 23, 2022

Once bankruptcy is filed, whether it’s under Chapter 7 or Chapter 13 , an automatic stay prevents debt collectors from taking further legal action. Does bankruptcy clear lawsuit debt? Creditors can, and most likely will, take you to court if you owe a debt such as a credit card or medical bills and cannot pay.

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Collection Industry News

OCTOBER 6, 2020

It was a great time to be a debt collector. In August, Encore Capital, the largest debt buyer in the country, announced that it had doubled its previous record for earnings in a quarter. The company said it had stopped seeking orders to garnish bank accounts. It is, however, seizing wages.

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Collections Law

APRIL 1, 2020

Collecting debts from debtors having assets in Massachusetts while you are in another state or a different country used to be difficult, even if you had a judgment against them. Massachusetts was among the few states that had not adopted the Uniform Enforcement of Foreign Judgment Act. Not Just Domestication — Enforcement, Too.

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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. On August 31, 2020, the state legislature enacted the COVID-19 Tenant Relief Act of 2020.

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Credit Corp

JUNE 14, 2023

Since the debt is old and less likely to be paid, the creditor may be willing to accept less than what you owe to consider the matter closed. Foreclosures and Short Sales: Seven Years A foreclosure can remain on your credit reports for seven years from the date the foreclosure was filed.

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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. s emergency debt collection bill. You may access this interactive tool at [link]. On August 3, the Washington, D.C.

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Debt Free Colorado

MARCH 3, 2023

Those who are no longer able to pay their debts can, however, start over through a legal process. A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. What Debts are Discharged in Bankruptcy?

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