Credit Corp

FEBRUARY 9, 2024

Debt relief won’t hurt your credit alone. Debt relief and debt settlement options don’t hurt your credit score on their own. These programs aim to help reduce your debt and if that debt is revolving credit, it can reduce your credit utilization and improve your credit.

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Troutman Sanders

JANUARY 20, 2022

On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair, deceptive, and abusive student loan origination and servicing practices.

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Credit Corp

MARCH 16, 2021

You have a habit of exhausting your credit limit quickly Whenever you are short of cash, you tend to take out a high-interest loan. You got married or had a sudden medical emergency for which your debt went out of your control. How to Control Your Debt Yourself. What kind of debts do you have? Opt for Debt Settlement.

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Troutman Sanders

APRIL 16, 2021

an online debt-settlement company, have agreed to settle “abusiveness” claims for $1.4 In some cases, SettleIt also charges the fee before a customer has approved a debt settlement. SettleIt settles debts for consumers with CashCall and LoanMe, and does so at higher rates than debts owed to other lenders.

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Titan Consulting

AUGUST 23, 2020

Filers can typically retain the home and vehicle as long as you make payments on the loan. Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt. Federally managed student loans received an automatic six-month payment waiver.

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Debt Free Colorado

APRIL 9, 2020

Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. Unlike mortgage lenders, most landlords are simply not in a financial position to weather the loss of rental income due to the high expenses associated with the rental property itself.

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Better Credit Blog

MAY 4, 2022

You can even lower the total amount you have to repay if your debt consolidation method offers a lower interest rate. There are several ways to consolidate debts. In this guide, we’ll walk you through your options and show you how debt consolidation could simplify your repayments and save you money. Monthly Payment.

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Credit Corp

MAY 1, 2024

Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. It’s crucial to fully understand the terms and consequences before pursuing debt forgiveness and to explore other options such as debt management or consolidation.

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Credit Corp

APRIL 2, 2024

Due to the loss of income, you had trouble paying your bills, such as your car loan or electric bill. Negotiate Debt Settlements With your permission, your attorney can also speak to lenders on your behalf. They can negotiate a collection account settlement that may be lower than your current balance due.

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Sawin & Shea

FEBRUARY 2, 2022

Also know that there is no legal protection from creditors in a debt management plan. Debt Settlement. Debt settlement is an option, but it should be the thing you consider last because it generally requires you to default with your creditors first. Consolidation Loans. Credit Balance Transfers.

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Credit Corp

JUNE 1, 2021

Established credit history can impact everything from getting a future loan (such as a mortgage) to renting an apartment. Monthly expenses might include student loan payments, car payments, and credit card payments. Pay Student Loan Debt. Even in bankruptcy, student loan debt cannot get discharged; it must get paid.

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Troutman Sanders

NOVEMBER 15, 2022

Prop 209 critics argue that its provisions are overly broad and will likely have a chilling effect on creditors’ willingness to issue loans to Arizona consumers in the future. On November 7, Massachusetts Attorney General Maura Healey announced a settlement with payment processing company Global Holdings LLC (Global).

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Qualco

NOVEMBER 7, 2023

Managing loan portfolios becomes a labyrinth for financial institutions in a financial ecosystem marked by unrelenting complexity and constant change. This scenario underscores the pressing need for resilient and adaptable strategies in managing loan portfolios. Several member nations of the European Union have adopted this approach.

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Nexa Collect

JULY 1, 2020

Borrowing money from a bricks-and-mortar bank, an online lender or a peer-to-peer marketplace and then paying it back has become a way of life for most, if not all, Americans. Lenders like Discover or Citibank indicate your credit score on their statements and their online portals provide breakdowns of how your credit score evolves over time.

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Credit Corp

JANUARY 21, 2021

This law deals with what information lenders must disclose, how they can advertise their products and rates and what rights you have when a lender isn’t truthful or transparent. Forbearance means the creditor agrees you don’t have to pay the loan for a certain period of time. Credit law can be complex.

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Credit Corp

JULY 10, 2023

Start by gathering all your financial statements and creating a comprehensive list of your debts. This includes credit card balances, student loans, medical bills, and other outstanding obligations. Step 3: Avoid Any New Debts It might sound obvious but avoiding new debts can help greatly.

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Troutman Sanders

JUNE 7, 2022

On May 26, North Carolina Attorney General Josh Stein issued a press release, indicating his office had won a permanent ban against an individual and his businesses from offering debt relief, debt settlement, foreclosure assistance, and mortgage loan modification services to North Carolinians.

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Better Credit Blog

JANUARY 20, 2022

It was for a PMSI loan for an outdoor wood burning furnace. I had to make my own payment arrangements with the debt collector so that we could keep our furnace. I also have solar panels with FDR; fortunately for me that is an unsecured loan, so they can help with that one.” – Laura Whipple, 4-star review, TrustPilot.

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Collection Industry News

MARCH 28, 2022

The Department has also begun licensing debt collectors. Proposed registration includes debt settlement services, student debt relief services, postsecondary education financing, and wage-based advances. Research and Market Monitoring.

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Better Credit Blog

JANUARY 11, 2022

Recent loan statement of your vehicle showing how much you owe and your monthly payment towards the loan. “Even if you are current on your 100k in debt payments, and your credit score is high, to me, you are a poor credit risk. Future lenders don’t care if you are currently $100k in debt.

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Collection Industry News

DECEMBER 1, 2022

“A collection agency is a company that is hired by lenders, creditors, medical providers and federal and local governments to get you to pay or make arrangements to pay what you owe them,” Eweka tells Select. Rent, student loans and tax debts are other examples of what can get passed on to a collections agency.

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Better Credit Blog

APRIL 6, 2022

We break this down in our article: “ What Exactly is Credit Repair & How it Works,” but the short answer is that credit repair is the process of reviewing, disputing, and negotiating negative items on your credit report that may negatively impact the credit risk tier you’re in and the loans and interest rates you qualify for.

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Better Credit Blog

APRIL 1, 2022

That said, there is no harm in trying this method even if Capital One still owns your old credit card debt. Why would this kind of debt settlement work? Because it allows the credit card company (or third-party debt collector) to collect at least a part of your balance. It’s definitely worked in the past.

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Better Credit Blog

APRIL 4, 2022

In fact, a 2013 FTC Study found that “Five Percent of Consumers Had Errors on Their Credit Reports That Could Result in Less Favorable Terms for Loans”, so making sure that your debt is validated is a good step to take. Try To Negotiate On Older Debts.

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