Sawin & Shea

JANUARY 12, 2022

Debt elimination is typically one of the primary reasons a debtor will pursue bankruptcy. The more common types of debts that many debtors hold that cannot be eliminated include: Child Support and Alimony. Taxes that you owe to the federal or state government are sometimes dischargeable, and sometimes not. Student Loans.

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Public Citizen

JULY 6, 2020

Today, the Supreme Court held that collecting government debt by robocalling cellphones didn’t deserve special First Amendment treatment. The Federal Government receives a staggering number of complaints about robocalls—3.7 The Government’s stated justification for the government-debt exception is collecting government debt.

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Sawin & Shea

APRIL 3, 2024

Bankruptcy Code Section 525(a) states that: “…a governmental unit may not deny, revoke, suspend, or refuse a license, permit, charter, franchise, or other similar grant to…a person that is or has been a debtor under this title or a bankrupt or a debtor under the Bankruptcy Act.”

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Troutman Sanders

FEBRUARY 13, 2024

The judge stated that since Genesis never transferred the assets, they cannot be considered as collateral pledged by the debtor. Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. Genesis filed for Chapter 11 protection in January 2023 with $5.1

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UK debt collections

APRIL 28, 2021

People who are in debt from credit cards, loans and other personal debt sources could be given ‘breathing space’ under new temporary measures the government has announced. A crisis or budgeting loan. Student loans. Court fines (but penalty charge notices like parking tickets apply).

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Sawin & Shea

APRIL 10, 2024

With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. In this blog, we discuss what assets and property a debtor may lose in Chapter 7 bankruptcy. Bankruptcy Code requires debtors to complete credit counseling courses 180 days before filing.

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Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. Therefore, the agencies act as middlemen collecting any delinquent loans. Debt collection agencies communicate to debtors via calls, letters, or emails. government collection agency.

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Troutman Sanders

OCTOBER 16, 2023

State Activities: On October 12, California’s Department of Financial Protection and Innovation (DFPI), announced, in its October bulletin, that final regulations to implement the Student Loan Servicing Act and the Student Loans Borrower Rights Law have been approved and will become effective January 1, 2024.

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Collection Industry News

JUNE 1, 2023

The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts. Governments and regulatory bodies continually strive to strike a balance between consumer protection and enabling efficient debt recovery.

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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. What Debts are Discharged in Bankruptcy?

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Taurus Collect

JUNE 16, 2022

Debt collection is a process that gives debtors certain rights that debt collection agencies must respect. Most creditors generally pass on a few debts to a professional debt collection agency , including mortgages, auto loans, credit card debts, and student loans. They will threaten you. Taurus Collections (UK) Ltd.

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Troutman Sanders

JANUARY 20, 2022

state banking regulators dropped a lawsuit, seeking to block the federal government from granting bank charters to fintech companies after the company that was first in line modified its business plan. Department of Education’s decision to extend the pause on federal student loan payments. For more information, click here.

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Fico Collections

JANUARY 26, 2022

While Government will likely take a hand in directing the pace of some collection activities, others will be determined by the debt holder. In this environment, Government agencies will likely continue to keep some curbs on the collection industry as the economy and consumers get back on their feet. Student Loan Challenges.

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Troutman Sanders

NOVEMBER 13, 2023

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here. For more information, click here. For more information, click here.

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Titan Consulting

AUGUST 23, 2020

When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery? The bankruptcy trustee will sell any non-exempt assets to repay debtors before a discharge occurs. Federally managed student loans received an automatic six-month payment waiver.

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Debt RR

AUGUST 3, 2020

When a creditor or a government authority sues a business or individual for an unpaid debt, one of the options for settling is for the court to give the creditor the right to pull the funds from a bank account. State tax agencies, however, might still need to obtain a Writ of Garnishment and have a bank levy placed on the debtor.

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Better Credit Blog

DECEMBER 22, 2021

Scott Nelson is the CEO of MoneyNerd Limited, a financial education company, and he says that a debt consolidation loan could make sense if the debtor “might be making payments towards several different debts each month on various dates and, as a result, keeping up in terms of organization is challenging and they risk missing a payment.”.

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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 Kaplan Group

JANUARY 7, 2021

The economic downturn has not yet translated into elevated delinquency rates for consumer loans. Delinquency rates have trended down for credit cards and unsecured personal loans while ticking up modestly for auto loans. Whether this will continue depends on the contours of the economic downturn and additional federal aid.

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Troutman Sanders

JUNE 21, 2023

million to consumers harmed by Arete Financial Group, a student loan debt relief operation that tricked consumers into making illegal upfront payments by pretending to be affiliated with the U.S. Department of Education and falsely promising student loan debt relief. For more information, click here.

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Debt Free Colorado

DECEMBER 7, 2016

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. It takes about 90 minutes, costs about $15, and can be done online.

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Troutman Sanders

AUGUST 16, 2021

He sent a letter requesting that the Government Accountability Office decide whether the CDC’s latest eviction moratorium constitutes a rule for purposes of the Congressional Review Act. trillion student loan portfolio from state regulation. On August 11, the U.S. For more information, click here. On August 9, the U.S.

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Troutman Sanders

JUNE 28, 2021

Department of the Treasury released guidance in the form of updated frequently asked questions (FAQs) and fact sheet to continue supporting the rapid deployment of emergency rental assistance by states, territories, localities, and tribal governments. For more information, click here. For more information, click here.

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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. In Berry v.

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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. Consumer debts: The FDCPA applies to all consumer debts, like credit cards, student loans, and medical bills, but it does not apply to commercial debts.

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Collection Industry News

JULY 20, 2020

The momentum has reached the federal government. The Education Department is suspending collections on federal student loans and urging private collection agencies to stop pursuing borrowers. ACA International declined to comment for this story.

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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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Collection Industry News

OCTOBER 6, 2020

It primarily had the CARES Act to thank: The bill delivered hundreds of billions of dollars worth of stimulus checks and bulked-up unemployment benefits to Americans, while easing pressures on them by halting foreclosures, evictions and student loan payments. There was no ban on collections of old credit card bills, Encore’s specialty.

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