Account Recovery

MARCH 14, 2024

Getting to Know Matt Jubenville of Midland Credit Management Passive Debt Buyer Meets Definition of Debt Collector Under FDCPA, Indiana State Law, State Appeals Court Rules Medical Debt Credit Reporting Bill Advances in Illinois Senate Employers Need Education on Student Loan Garnishments PRA Group Appoints Glenn Marino to Board of Directors WORTH (..)

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Debt collector Credit Management Student loans Student Loans 147

True Accord

OCTOBER 10, 2023

Economic stressors persist and are likely contributing to many consumers relying on credit to cover expenses, while the resumption of student loan payments adds another financial obligation to the mix. trillion in student debt under the CARES Act, student loan payments resume this month. trillion in Q2, a 4.6%

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Student loans Student Loans Loans Personal loans 82

Collection Industry News

NOVEMBER 8, 2021

Department of Education said it is ending its relationship with private collection agencies that had been tasked with recovering payments from federal student loan borrowers in default to improve collections and provide borrowers with more support. Photo: John Minchillo/Associated Press.

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Student loans Student Loans Debt collector Loans 40

Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

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Student loans Student Loans Bankruptcy Chapter 7 bankruptcy 52

Troutman Sanders

APRIL 2, 2021

The Sixth Circuit recently confirmed student loan servicers, who begin servicing debts after default and resale, are not liable to borrowers under the Fair Debt Collection Practices Act (FDCPA) because the servicers are not acting as “debt collectors.”. On March 25, in Willison v. Nelnet, Inc. ,

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Student loans Student Loans Loans Debt collector 52

Account Recovery

MARCH 29, 2021

A District Court judge in Delaware has dismissed a lawsuit filed by the Consumer Financial Protection Bureau that accused a student loan servicer and the debt collector it hired of engaging in deceptive collection practices, ruling that the regulator did not have the authority to file the lawsuits because it did so at a time … The post Judge (..)

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Student loans Student Loans Collections Debt collector 204

Sawin & Shea

FEBRUARY 1, 2023

Who knows how to get debt collectors to stop calling after bankruptcy? How long after filing for bankruptcy do collectors keep calling? How to stop debt collector calls after filing for bankruptcy: Answer the calls. What if my debt cannot be discharged? Why would such a thing even happen? or after 9:00 p.m.

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Debt collector Bankruptcy Creditors Collection Agent 64

True Accord

MARCH 5, 2024

“Growing debt balances, stubborn interest rates and elevated prices are still a thorn for consumers, and contribute to their overall financial stability,” explains TrueAccord CEO Mark Ravanesi in his Q4 Industry Insights: Cautious Optimism with a Side of Holiday Hangover.

Consumer Credit 86

Consumer Credit Student loans Student Loans Collections 86

Account Recovery

JUNE 4, 2021

Public colleges in 49 states across the country — all but Louisiana — are being called out in a report for placing unpaid debts with private collection agencies to be repaid for tuition, library fees, and parking fines, creating a “spiraling” amount of debt that former students are not able to repay, which keeps them … (..)

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Debt collector Collection Agencies Collections Agency Collections 162

Credit Corp

MAY 19, 2021

And can debt collectors actually follow you to another country? It might be tempting to leave all your debts behind. We’ll walk you through the process, as well as some alternatives, so you can make the right choices for tackling your debt. Can Debt Collectors Follow You to Another Country? According to S.

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Collection Industry News

APRIL 25, 2023

A debt doesn’t generally expire or disappear until its paid, but in many states, there may be a time limit on how long creditors or debt collectors can use legal action to collect a debt. Some debts, though, such as federal student loans don’t have a statute of limitations.

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Debt collector Collections Fair Debt Collection Student loans 40

Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. But it’s especially frustrating if your debt is several years old. Can a debt collector collect after 10 years? Get Help Now.

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Debt collector Collections Judgment Collection Agencies 98

Collection Industry News

MARCH 19, 2024

“Growing debt balances, stubborn interest rates and elevated prices are still a thorn for consumers, and contribute to their overall financial stability,” explains TrueAccord CEO Mark Ravanesi in his Q4 Industry Insights: Cautious Optimism with a Side of Holiday Hangover.

Consumer Credit 40

Consumer Credit Student loans Student Loans Collections 40

Credit Corp

MAY 17, 2021

With so much money on the table, you might wonder: Can debt collectors take your stimulus check. Federal or State Tax Debt: No. That includes tax debt. It also won’t be taken to offset state debts , including tax debt. Federal Student Loan Debt: No. Delinquent Loan Debt: Yes.

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Credit Card Debt Garnishment Student loans Student Loans 105

True Accord

JULY 13, 2023

The ending of various pandemic-era benefits including the pause on student loan payments will impact consumers in the coming months. There were also a couple of notable court decisions impacting debt collectors last quarter. And demand for more credit continues, which will drive household debt balances up farther.

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Financial Institution Student loans Student Loans Loans 66

True Accord

APRIL 5, 2023

Directly impacting creditors and debt collectors, a January ruling from the District Court of Puerto Rico found that sending debt collection communications prior to any knowledge of a debtor’s bankruptcy filing is not a violation of the Fair Debt Collection Practices Act (FDCPA). year over year in February 2023.

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Student loans Student Loans Credit Card Debt Loans 95

National Service Bureau

SEPTEMBER 9, 2015

It’s no secret that student debt is at an all-time high. According to the US Department of Education, there are more than 40 million student loan borrowers who owe more than $1.2 Unfortunately, this means student loans (unless you have access to scholarships, independent wealth, grants, or other resources).

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Debt collector Student loans Student Loans Collection Agencies 40

National Service Bureau

NOVEMBER 20, 2015

The CFPB found Discover Bank to be in violation of the Consumer Financial Protection Act in three instances and in violation of the Fair Debt Collection Practices Act in one.for a mistake that might catch other debt collectors unaware. You can read the full text of the CFPB ruling here.

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Debt collector Student loans Student Loans Debtor 40

Sawin & Shea

SEPTEMBER 27, 2023

If you are a victim of debt collector harassment, it’s important to know the debt collection laws, and consider your options for debt relief. Debt Collection Laws: What Can Debt Collectors Do? Filing for bankruptcy can provide you with a much-needed second chance when it comes to your finances.

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Better Credit Blog

DECEMBER 22, 2021

But it’s a much bigger headache if you owe debts to multiple places, as your odds of forgetting a payment will increase, and the varying interest rates between the different debts can end up taking a bite out of your wallet. How Debt Consolidation Loans Work. When Might It Make Sense To Get A Debt Consolidation Loan.

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Debt Consolidation Loans Lender Student loans 65

Direct Recovery

NOVEMBER 14, 2021

Debt collectors will also have to provide a statement on when the last payment was made and when a debt became delinquent. They will also be forbidden from sending written statements to consumers unless they have a written contract or some other evidence that a debt is actually owed.

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Student loans Student Loans Collections Fair Debt Collection 52

Credit Corp

MAY 9, 2023

The statute of limitations on collections is the amount of time a creditor or debt collector has to file a lawsuit to collect unpaid debt. These statutes vary by state, type of debt and terms of the contract, if there is one. Can a Debt Collector Restart the Clock on My Old Debt? Open-ended credit.

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Collections Debt collector Creditors Student loans 97

Collection Industry News

MARCH 17, 2024

Hochul specifically mentioned student loan servicers who encourage the quickest repayment plans or plans not suitable for the party repaying. Debt Collection in 2024 The governor mentioned debt collectors and their interactions specifically regarding retired seniors, noting concerns that seniors are giving up retirement income.

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Garnishment Collections Debt collector Student loans 40

Troutman Sanders

SEPTEMBER 19, 2022

the plaintiff defaulted on his student loan payment, and the account was sold to Educational Credit Management Corporation (ECMC), a federal student loan guarantee agency, which then contracted with Pioneer Credit Recovery, Inc. Pioneer) to help collect the debt. In Tavernaro v. Pioneer Credit Recovery, Inc. ,

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Student loans Student Loans Garnishment Fair Debt Collection 52

Public Citizen

JULY 9, 2021

Some consumers reported facing homelessness because of the negative impact of an eviction on their credit history reported by debt collectors. " The report, which the CFPB calls a "complaint bulletin," is here.

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Student loans Student Loans Financial Institution Debt collector 40

Credit Corp

JUNE 1, 2023

When this happens, it means your debt has gone to collections and debt collectors from the collection agency will now try to contact you for payment. Here are some reasons to pay your collection debt: Dodge lawsuits: If you don’t pay off your collection debt, the debt collectors may sue you.

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Collections Debt collector Collection Agencies Collections Agency 126

FFGN COLLECT NY

JANUARY 10, 2024

Hochul specifically mentioned student loan servicers who encourage the quickest repayment plans or plans not suitable for the party repaying. Debt Collection in 2024 The governor mentioned debt collectors and their interactions specifically regarding retired seniors, noting concerns that seniors are giving up retirement income.

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Garnishment Collections Debt collector Student loans 52

True Accord

JANUARY 10, 2024

The fourth quarter marked the resumption of student loan payments for 22 million Americans, but repayment results were low. million borrowers missed their student loan payment —that’s 40% of loan holders. quarterly increase while auto loan balances rose by $13 billion and now stand at $1.6 a year ago.

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Student loans Student Loans Loans Banks 58

Taurus Collect

JUNE 16, 2022

When you have a debt in collection and receive a call/ notice from a debt collector, it indicates that your original creditor has redirected the debt to a debt collection agency or a third party to collect it. They will call at unofficial hours. to 9 p.m.,

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Retrieval Debt collector Collections Collection Agencies 52

Katabat

MAY 3, 2021

Student Loan Program Facing a $500 Billion Hole? trillion student loan portfolio could be defaulted on. The article notes that the half trillion dollars of default would exceed what taxpayers lost on the saving-and-loan crisis 30 years ago. “Is the U.S. One Banker Thinks So.”. government’s $1.6

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Student loans Student Loans Debt collector Loans 52

Taurus Collect

MARCH 7, 2022

It occurs when a collection agency or a company attempts to collect past-due debts from borrowers. Hiring debt collectors are often a cost-effective alternative for businesses as it prevents you from investing your time and resources to manage your debts. How do debt collectors work?

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Collections Debt collector Collection Agencies Collections Agency 52

Burr Forman

MAY 20, 2021

Prohibiting servicers of private education loans from reporting an adverse item of information relating to the nonpayment of the loan for an established period of time.

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Collections Debt collector Student loans Student Loans 52

Sawin & Shea

AUGUST 24, 2020

Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt.

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Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debt collector 98

Troutman Sanders

OCTOBER 19, 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. On October 4, the CFPB announced that the deadline to request initial forbearance for loans backed by the U.S.

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Financial services Student loans Student Loans Debt collector 52

Troutman Sanders

MAY 9, 2023

On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

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Financial services Student loans Student Loans Loans 52

Better Credit Blog

SEPTEMBER 9, 2020

If you have been contacted by Sunrise Credit Services, you are probably being pursued for an old debt. Sunrise Credit Services is a debt collector that has been hired by your old creditor to collect payment on your debt. They may also have purchased the debt to profit off your payments. Validate the Debt.

Debt collector 101

Debt collector Collections Loans Creditors 101

Sawin & Shea

JANUARY 25, 2022

For example, when you take out a home loan, you will be required to sign a mortgage which grants the lender a lien, or security interest against your home should you fall behind on payments. Examples of Secured Debts. What Happens When You Can’t Pay Secured Debts? What is Unsecured Debt? Examples of Unsecured Debts.

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