Sawin & Shea

APRIL 3, 2024

Types of loan and debt defaults that may affect your professional license include: Child support Student loans Alimony Can My Bankruptcy Filing Affect My Employment? It is against the law for an employer to fire you on the basis of your bankruptcy, and this includes both government and private employers.

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Debt Free Colorado

APRIL 9, 2020

While credit cards and other unsecured loans are almost always the most aggressive when it comes to collecting debts, they should generally be your lowest priority. Student Loans. You should call your student loan servicers about forbearance, which will temporarily stop or reduce your payments.

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Student loans Student Loans Chapter 13 bankruptcy Chapter 7 bankruptcy 82

Sawin & Shea

SEPTEMBER 28, 2022

For example, if you have been having your wages garnished to pay back a persistent creditor, your employer would be aware that this is no longer necessary since you are in the process of Chapter 7 or Chapter 13 bankruptcy. In rare cases, your repayment plan in Chapter 13 bankruptcy may require your wages to be garnished.

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Katabat

DECEMBER 7, 2021

The report also notes that auto debt increased by $28 billion in the third quarter and student loan balances grew by $14 billion. Student Loan Borrowers Beware: Government Collection Activities Resume Next Year.”. Total debt balances are now $1.1 trillion above where they were at the end of 2019, the report showed.”

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Student loans Student Loans Loans Garnishment 52

Katabat

DECEMBER 7, 2021

The report also notes that auto debt increased by $28 billion in the third quarter and student loan balances grew by $14 billion. Student Loan Borrowers Beware: Government Collection Activities Resume Next Year.”. Total debt balances are now $1.1 trillion above where they were at the end of 2019, the report showed.”

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Student loans Student Loans Loans Garnishment 52

Credit Corp

MAY 30, 2023

This is known as wage garnishment. The Consumer Credit Protection Act caps these types of garnishments. Nonwage garnishment. If you’re retired, unemployed, or self-employed, your bank account may be garnished instead. Veterans payments, social security, and disability benefits are not eligible for nonwage garnishment.

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Judgment Garnishment Creditors Law Firms 98

Sawin & Shea

JANUARY 18, 2023

Filing Chapter 7 bankruptcy provides you with an automatic stay that prohibits creditors from being able to take any action to collect a debt against you, such as repossessions, wage garnishment, and legal action. Additionally, your creditors will not be allowed to contact you.

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Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 81

Troutman Sanders

AUGUST 9, 2021

On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022. Income-share agreements are a type of student loan, where the borrower receives a loan and then pays a percentage of his/her income after graduation.

Financial services 52

Financial services Student loans Student Loans Foreclosure 52

Sawin & Shea

OCTOBER 5, 2022

Student loan debt is a serious problem in the United States, and it’s an issue that impacts millions of Americans. As of January 2022, around 45 million people have student loan debt, which is 13.5% The total collective amount of federal and private student debt is around $1.75 of the US population.

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Student loans Student Loans Loans Garnishment 93

Troutman Sanders

JULY 27, 2020

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from being garnished by judgement creditors and debt collectors, similar to how Social Security payments are exempt from being garnished. The CARES Act offers relief for those with federal student loans.

Financial services 52

Financial services Student loans Student Loans Garnishment 52

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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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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Financial Institution Garnishment Collections Foreclosure 52

Troutman Sanders

APRIL 19, 2021

Pritzker issued an executive order extending the suspension of garnishment, deduction of wages, and post-judgment citations to discover assets through April 30. Additionally, the company is alleged to have falsely promised consumers student loan forgiveness when only the federal government can forgive federal student loans.

Financial services 52

Financial services Student loans Student Loans Financial Institution 52

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. Consumers should be able to stop automatic payments. No interest or fees should be assessed for failure to pay debts during this time.

Garnishment 40

Garnishment Collections Debt collector Accounts Receivables Management 40

National Service Bureau

JULY 30, 2015

Student loans generally fall into two categories: federal student loans and non-federal student loans. Forgiveness, Cancellation, and Discharge: On occasion, there are certain uncommon circumstances where you may no longer have to pay back a student loan.

Student loans 40

Student loans Student Loans Education Loans 40

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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Troutman Sanders

DECEMBER 20, 2022

d/b/a Premier Student Loan Center, a student-loan debt-relief company. Proposition 209 has been touted as a way to protect Arizonans with medical debt from bankruptcy, has set new exemption limits on property subject to debt collection, and has decreased the portion of a judgment debtor’s income subject to garnishment.

Financial services 52

Financial services Student loans Student Loans Loans 52

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. The company said it had stopped seeking orders to garnish bank accounts.

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Debt collector Garnishment Banks Foreclosure 40

National Service Bureau

APRIL 6, 2015

Of these, 239 involved medical collections and another 240 involved student loans. Debt collection companies who deal in healthcare collections are governed by the Health Insurance Portability and Accountability Act and its “privacy rule” for Protected Health Information (PHI). Government. Did you know that.

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Debt Free Colorado

MARCH 3, 2023

Generally, secured debt (loans backed by collateral), student loans, child support or alimony, recent taxes, criminal fines, or personal injury judgments cannot be discharged. Unsecured debts , including credit card and medical bills, as well as some judgments or past taxes, may be discharged.

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Better Credit Blog

AUGUST 31, 2020

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. So if your business defaults on a loan or payments, without a personal guarantee, it is not protected by the FDCPA. Threatening to garnish wages without a court order.

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Troutman Sanders

APRIL 5, 2021

Department of Education announced an expansion of the moratorium on federal student loan interest and collections on all defaulted loans under the Federal Family Education Loan program. ” Organizations and governments are working on vaccine passports in an effort to reopen day-to-day operations.

Financial services 52

Financial services Financial Institution Foreclosure Garnishment 52

Better Credit Blog

SEPTEMBER 8, 2020

Northland Group collects for businesses in a few industries, such as: Auto loans. Government. Student loans. They might even threaten to garnish your wages, depending on where you live. Today Northland has merged with Radius Global Solutions LLC , so you could see that name on your credit report as well.

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Consumer Financial Services Law

OCTOBER 16, 2017

11 2017), the debtor, Berry, defaulted on student loans he had taken out with the US Department of Education. The court also detailed Van Ru’s training procedures that all representatives must undergo before contacting consumers.

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Troutman Sanders

APRIL 18, 2022

Federal Activities: On April 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a report titled, “ Student Loan Borrowers Potentially At-Risk when Payment Suspension Ends.” Pre-pandemic payment assistance on student loans. Pre-pandemic payment assistance on student loans.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

JANUARY 19, 2021

Department of Education to continue excusing borrowers from making payments on their student loans in light of the COVID-19 pandemic. Currently set to expire on February 1, the collection actions subject to the moratorium include garnishment, attachment, and levy. For more information, click here. Check with the real agency.”

Financial services 52

Financial services Garnishment Foreclosure Government 52

Debt Free Colorado

DECEMBER 7, 2016

Lawsuits, garnishments, foreclosures, and other collections stop at this time. Certain taxes, student loans, child or spousal support, fees owed the government, and other debts aren’t affected. Sign and File – Generally about 2 – 4 weeks after paperwork is turned in and fees paid.

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Chapter 7 bankruptcy Bankruptcy Student loans Student Loans 40

Troutman Sanders

MARCH 15, 2021

The American Rescue Plan provides $1,400 direct payments to individuals making up to $75,000 annually, $350 billion in aid to state and local governments, and $14 billion for vaccine distribution. The FTC reminds consumers that the government will never ask them to pay anything upfront in any form to obtain stimulus money.

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Financial services Financial Institution Foreclosure Government 52

Collection Industry News

AUGUST 23, 2022

Department of Education is giving federal student loan borrowers who’ve fallen behind on their debt a chance to get into current standing. million student loan borrowers who are in default will be able to return to repayment without a past-due balance. Certain loans qualify, and others don’t.

Student loans 40

Student loans Student Loans Education Loans 40

Troutman Sanders

JULY 26, 2021

On July 23, the Biden administration initiated a request for information — the formal process of inviting public comment — to address issues with the Public Service Loan Forgiveness (PSLF) program. Any attempt to garnish or otherwise seize these funds to collect or attempt to collect a debt violates the AG’s Debt Collection Regulations.”

Financial services 52

Financial services Student loans Student Loans Garnishment 52

Credit Corp

JULY 30, 2020

As of February 2020, student loan debt in the United States reached a record total of $1.6 Many people are struggling to pay student loans and taking part in various deferment and other assistance programs. Find out more about stimulus help for student loans below. Try ExtraCredit.

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Student loans Student Loans Loans Garnishment 94