Taurus Collect

AUGUST 15, 2023

Here’s how: Knowledge of Regulations: Debt collection is a field governed by a multitude of regulations. Effective Communication Skills: Skilled debt collectors understand the importance of maintaining professional, respectful communication with debtors. Persistence: Experienced debt collectors are persistent.

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do? Automatic Stay Violations.

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do? Automatic Stay Violations.

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The Kaplan Group

OCTOBER 19, 2020

You can learn more about FDCPA in our advice to consumer debtors. Garnishment. Garnishment is when a creditor takes part of your paycheck or money from your bank account to collect money you owe on a judgment. Garnishments generally require a court order. The law does not apply to collecting from businesses.

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Taurus Collect

MAY 11, 2023

Overview of The Credit Card Debt Collection Process Credit card debt collection can be a stressful experience for both the debtor and the creditor. The process begins when the debtor stops making payments on their credit card and goes into default. The creditor then hires a debt collection agency to start the collection process.

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Sawin & Shea

MARCH 27, 2024

You must complete credit counseling within 180 days of filing your petition, and you’ll need to complete a debtor education course after your Meeting of Creditors. It is against federal law for an employer to fire an employee due to their bankruptcy filing, and this applies both to government agencies and private employers.

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Payment Savvy

NOVEMBER 30, 2021

Regulation F affects everything from debtor communication to multi-state compliance. Any violation of the FDCPA towards a debtor means a potential lawsuit for your collection agency. Lost or garnished wages. The activities of debt collectors are governed by these federal regulations, with an effective date of November 30, 2021.

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Burr Forman

DECEMBER 4, 2020

With new and impending changes in both the economic and political landscape, financial institutions have had to adapt to ever-changing policies governing consumer loan servicing and debt collection. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices.

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PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. by the existence of a separate provision, §542, that expressly governs the turnover of estate property.”

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Sawin & Shea

JUNE 21, 2023

When filing for Chapter 13, debtors don’t immediately discharge their debts. They may suspect that the debtor committed fraud or tried to deceive the court or their creditors in another way. Courts can punish this behavior by dismissing a case with prejudice, making it harder for the debtor to refile.

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Collection Industry News

JUNE 1, 2023

Governments and regulatory bodies continually strive to strike a balance between consumer protection and enabling efficient debt recovery. These technologies enable debt collectors to automate repetitive tasks, streamline workflows, analyze data more effectively, and personalize communication with debtors.

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Debt Free Colorado

FEBRUARY 21, 2022

What can debtor collectors do to you under the FDCPA: Contact other people to find out where you live, your current telephone number, or where you work, but they can’t contact anyone more than once or tell anyone you owe a debt. The CFDCPA does not apply to anyone who collects their debts or government personnel in the United States.

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Troutman Sanders

NOVEMBER 13, 2023

On November 6, the Bank of England, Financial Conduct Authority, and Prudential Regulation Authority issued guidance explaining how current and proposed regulatory regimes governing “e-money, stablecoins, and tokenised bank deposits” will interact, indicating that applicable financial institutions will be subject to dual or triple regulation.

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Collection Industry News

OCTOBER 6, 2020

The company is currently not seeking new orders to seize debtors’ wages or bank account funds, she said. The company said it had stopped seeking orders to garnish bank accounts. To earn a profit on that investment, Encore and other debt buyers pursue debtors in near perpetuity. Last year, on average, the company paid 8.6

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Debt Free Colorado

MARCH 3, 2023

This type of bankruptcy enables the debtor to combine their debts, reach an agreement on a lower overall number and submit to a three-to-five-year plan for debt repayment. A case may be changed from a Chapter 13 filing to a Chapter 7 liquidation if the debtor doesn’t make payments on time.

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Sawin & Shea

JULY 20, 2022

Specifically, debt collectors may not: Provide the erroneous impression that they are a lawyer or a representative of the government. Since debtors usually do not show up to court, these cases usually result in wage garnishment. False Statements. Convey a misleading sense of affiliation with or ownership of a credit bureau.

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Credit Corp

NOVEMBER 9, 2020

The law: Collectors can’t threaten a lawsuit, criminal prosecution, wage garnishment, jail time, or a poor credit rating unless they have the legal authority to do so and intend to do so. government or any state. Impersonations of an attorney, law enforcement official, or government official (17%).

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Collection Industry News

JULY 20, 2020

The momentum has reached the federal government. Sherrod Brown, D-Ohio, has sponsored legislation that prevents debt collectors from engaging in a variety of practices, such as disconnecting utility services or garnishing wages, until 120 days after a major disaster or emergency such as the current coronavirus crisis.

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National Service Bureau

APRIL 6, 2015

Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. Government. 5: Improper contact or sharing of information.

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The McHughes Law Firm

AUGUST 29, 2016

Myth No 3: If I Can Not Collect the Debt Myself, the Debtor Will Not Pay. 5: Debt Collectors Hound Debtors and Make Threats. Debt collection is governed by the Fair Debt Collection Practices Act , which has specific guidelines for contacting debtors. For example, a debtor can request not to be contacted at work.

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National Service Bureau

AUGUST 19, 2015

There are those organizations who are licensed, professional, effective, and ethical, and then there are those who would take advantage of specialized knowledge or the opportunity to take money unlawfully from debtors. There are legal and common sense restrictions on the tactics that a collector or agency should use when contacting a debtor.

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Taurus Collect

JANUARY 23, 2023

Depending on how much money you receive from the government, you might even be able to pay off a large portion of your total debt balance in one go. If approved, any funds remaining after offset notices are taken out will be sent directly to the qualifying debtor.

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Direct Recovery

JUNE 24, 2020

Like many other consumer-focused states, California has put a number of different protections in place that forbid debt collectors from garnishing those valuable stimulus checks. In a situation where a standing judgment exists, it is possible for the person holding that judgment to garnish a portion of the debtor’s stimulus check.

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Consumer Financial Services Law

OCTOBER 16, 2017

By Zachary Dunn October 16, 2017 The FDCPA, through section 1692d(6), prohibits a debt collector from placing telephone calls to a debtor “without meaningful disclosure of the caller’s identity.” 11 2017), the debtor, Berry, defaulted on student loans he had taken out with the US Department of Education. LEXIS 164266 (D.

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Troutman Sanders

OCTOBER 26, 2020

Federal Activities: On October 23, the Financial Action Task Force concluded its 32nd plenary meeting and continued to focus on the impact of the COVID-19 pandemic on detecting and countering fraud, including attempts to defraud government-backed stimulus programs. For more information, click here.

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Better Credit Blog

AUGUST 31, 2020

The Fair Debt Collection Practices Act is the federal law that sets rules for how debt collectors can contact debtors, protecting consumers from unethical or inaccurate collection attempts. Threatening to garnish wages without a court order. How The FDCPA Protects You. What Is the Fair Debt Collection Practices Act (FDCPA)?

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Collection Industry News

JUNE 14, 2021

Some companies buy old debt, collect what they can on it, and then – instead of canceling the debt, which they are supposed to do – they just sell the list of debtors to another company,” Morrissey said. But like many debtors, debt collection kingpins have been elusive when it comes to paying what they owe.

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Debt Free Colorado

DECEMBER 9, 2021

The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Chapter 7 bankruptcy is appropriate for unsecured debtors. Complete protection from creditors – This includes wage garnishment and debt collection. You should get legal assistance from a knowledgeable bankruptcy attorney in Denver.

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Debt Free Colorado

DECEMBER 7, 2016

Lawsuits, garnishments, foreclosures, and other collections stop at this time. Take your Debtor Education Course – Within 45 days of the 341 Meeting. Debts Discharged – No sooner than 60 days after your 341 meeting, but not until the debtor education certificate is filed and court filing fees are paid.

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Collection Industry News

SEPTEMBER 8, 2020

These are examples of false statements: a) Implying that they are attorneys or government representatives when they are not. h) They will seize, garnish, attach, or sell property or wages, unless the collection agency or creditor intends to do so, and it is legal to do so. He cannot use any false or misleading statements.

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