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Consumer Debt vs. Non Consumer Debt

Sawin & Shea

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. Your consumer and non-consumer debts impact your ability to file Chapter 7 bankruptcy, and your debt types also determine what’s protected by an automatic stay when filing Chapter 13 bankruptcy.

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Total Household Debt Reaches $17.06 Trillion in Q2 2023; Credit Card Debt Exceeds $1 Trillion

Collection Industry News

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows a slight uptick in total household debt in the second quarter of 2023, increasing by $16 billion (0.1%) to $17.06 Student Loans Outstanding student loan debt stood at $1.57

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Q1 Industry Insights: Consumers Will Consume, Lenders Will Lend, Delinquencies Will Rise

True Accord

It’s the end of the quarter and, as always, we at TrueAccord are looking at consumer debt trends that will impact our industry and beyond. The four key trends we’re studying are: resumed foreclosure activity, extensive medical bills, the end of child tax credits and historically high inflation. But there are silver linings, as well.

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How Late Can You Be on a Car Payment, Mortgage or Other Bill?

Credit Corp

Whether or not you fall under the subprime category, it can be surprisingly easy to miss an auto payment—or any other debt. If you fall too far behind on payments, the mortgage lender may initiate foreclosure proceedings. How Many Late Payments Can You Have Before You Face Foreclosure? Were you one of them?

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10 Common Questions About Bankruptcy

Debt Free Colorado

Are there Available Alternatives If You Have a Lot of Debt and don’t Want to File for Bankruptcy? What Debts are Discharged in Bankruptcy? Through a legal process called bankruptcy, some people who are unable to pay their debts can start over financially, either temporarily or permanently. What Can’t Bankruptcy Do?

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California’s mortgage fraud risk rises in 2021

Collection Industry News

Further, mortgage holders who discover fraud may call the mortgage due, which may ultimately lead to foreclosure. The post California’s mortgage fraud risk rises in 2021 appeared first on Collection Industry News. property fraud , when the borrower provides false information about the property.

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Supreme Court bans debt collection robocalling to cellphones

Public Citizen

Today, the Supreme Court held that collecting government debt by robocalling cellphones didn’t deserve special First Amendment treatment. First, was allowing debt collectors to make robocalls, but prohibiting all other types of robocalls, allowed by the First Amendment? American Assn. of Political Consultants, Inc.,