Nexa Collect

JUNE 21, 2023

This can make qualifying for credit cards, loans, mortgages, or even certain jobs harder. If you ignore this or fail to defend yourself in court, a default judgment may be issued against you. This can lead to wage garnishment, bank levies, or liens against your property. This can be stressful and disruptive.

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Troutman Sanders

APRIL 27, 2023

Noting a rise in credit card delinquencies, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new blog post analyzing civil judgments, the final recourse for creditors to collect on unsecured debt. According to the CFPB, civil judgments are “”both common and unevenly distributed.””

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Collection Industry News

MAY 9, 2023

Introduction: When you’ve obtained a judgment in your favor, the next crucial step is enforcing it and recovering the owed amount. One significant aspect of the enforcement process involves locating assets belonging to the judgment debtor. Wage garnishment can be an effective strategy if you can locate their employer.

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Debt RR

AUGUST 3, 2020

Business debt, whether from small business loans, corporate credit cards, or federal and state taxes, can be a challenge to manage. This unpaid debt can lead to a serious problem for businesses: garnishment. Review this guide for everything businesses need to know about bank account garnishment in Texas and how to avoid it.

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Sawin & Shea

JUNE 16, 2021

Many people assume that because they have filed bankruptcy, their credit is ruined, and they will not be able to qualify for any loans. There are a number of steps you can take to improve your credit score and to make it likely that you can be approved for a loan. Apply for a Home Equity Loan or a Home Equity Line of Credit (HELOC).

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Nexa Collect

JANUARY 19, 2022

If the debtor is not traceable or unresponsive, a collection agency can file a lawsuit and if you do not respond in the court on time, it can result in a default judgment against you. Repercussions can include wage garnishment, frozen bank account and other assets. Not every case lands in court.

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Debt Guru

APRIL 12, 2020

Payday loan [p?-?d? A payday loan is short-term credit based on a borrower’s income and credit profile. Payday loans also go by other names, like a cash advance loan or check advance loan – and have even adopted such monikers as deferred deposit or deferred presentment. Why Should You Avoid Payday Loans?

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Collections Law

APRIL 1, 2020

Collecting debts from debtors having assets in Massachusetts while you are in another state or a different country used to be difficult, even if you had a judgment against them. Massachusetts was among the few states that had not adopted the Uniform Enforcement of Foreign Judgment Act. Not Just Domestication — Enforcement, Too.

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Credit Corp

MAY 19, 2021

If you owe money and don’t pay it, a creditor typically has to get a judgment to be able to force the collection. Judgments must be filed in the state where you reside. However, if a judgment is already filed, it can diminish your ability to move until you resolve the debt. According to S. Why Won’t This Strategy Work?

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The Kaplan Group

AUGUST 6, 2020

Negotiating discounts, consolidating loans, crowdfunding, and arranging payment plans are possibilities. We also strongly urge clients to make sure they get all of the money they are owed before taking out additional loans. You can then deal with the court ordered judgment collection process at a later date.

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Roths Child Law

JANUARY 31, 2023

If you are seeking to discharge unsecured debts like medical debts, credit card debts and unsecured loans, then you need to file for Chapter 7 bankruptcy. However, if you are dealing with secured debts like a mortgage or a car loan, then you need to file Chapter for 13 bankruptcy. Bankruptcy can give you a fresh start.

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Sawin & Shea

AUGUST 18, 2021

There are two circumstances in which your employer could find out about your Chapter 7 bankruptcy: In a Chapter 7 bankruptcy, your employer would know only if you were already having your wages garnished by creditors (called wage attachment). We are committed to providing compassionate and non-judgmental representation to all of our clients.

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Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Garnishment 105

Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of 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

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. The need to manage and recover consumer debts, including credit card debt, personal loans, and medical bills, is expected to contribute to the growth of the debt collection industry.

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Debt Free Colorado

APRIL 9, 2020

So far the offers have been vague, the most likely concessions will be for your lenders on your home and cars to allow you to move a monthly payment to the end of the loan and for credit cards to temporarily reduce your interest rate. There are more tools for dealing with your mortgage than any other type of loan. Student Loans.

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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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Sawin & Shea

SEPTEMBER 27, 2023

In some cases, debt collectors may take legal action by filing a lawsuit against you to obtain a court judgment. If the court grants a judgment in favor of the creditor, they have additional collection options, such as wage garnishment, bank account levies, or placing liens on the debtor’s property.

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Stevens Lloyd

SEPTEMBER 27, 2018

These include Writs of Execution, Bank levies, and Wage garnishments. A writ of execution (otherwise called an execution) is a court order used to put a judgment of ownership into power after it’s obtained by the offense from a higher court. What is a Writ of Execution. Obtaining a Writ of Execution. Bank Levies.

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Debt Free Colorado

FEBRUARY 21, 2022

Consumer debts include credit card debts, vehicle loans, medical costs, and school loans. The UCCC covers payday loans, vehicle loans, second mortgages, state-issued credit cards, and signature loans. The UCCC does not cover first home mortgages and refinancing loans. Which States Have the UCCC.

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Sawin & Shea

JANUARY 25, 2022

For example, when you take out a home loan, you will be required to sign a mortgage which grants the lender a lien, or security interest against your home should you fall behind on payments. Common examples of secured debts include: Home loans Car loans Cash loans secured by other personal property Judicial Liens Tax Liens.

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Collection Industry News

JULY 20, 2020

The Education Department is suspending collections on federal student loans and urging private collection agencies to stop pursuing borrowers. An investigation by ProPublica found that court judgments in debt collection lawsuits were twice as high in black communities compared to mostly white neighborhoods.

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Better Credit Blog

APRIL 1, 2022

A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. Debt Validation. Calling you before 8:00 A.M and after 9:00 P.M.

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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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Debt Free Colorado

APRIL 1, 2021

If you’ve ever taken out a payday loan, chances are that you’ve received an email like the following, regardless of whether you paid off the loan or not. Subject : Unpaid loan Invoice. You can’t garnish wages because you don’t have a judgment. OUTSTANDING AMOUNT: $850.45

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Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. This is because they know that most borrowers who are sued for old debts won’t show up in court, and the judge will issue a default judgment.

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Debt Free Colorado

MARCH 3, 2023

A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. When the lead debtor on a co-signed loan is discharged in bankruptcy, the co-signers may still be required to pay back all or part of the loan.

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Troutman Sanders

AUGUST 9, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022.

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

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Better Credit Blog

APRIL 3, 2022

Debt buyers like Portfolio Recovery Associates, LLC, buy hundreds of accounts at a time from credit card companies like CapitalOne and Discover and from student loan servicers and lenders. However, PRA Group could sue you and try to garnish your wages, but this would happen in civil court.

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Sawin & Shea

MARCH 30, 2021

We are committed to providing compassionate and non-judgmental representation to all of our clients. This usually occurs 20-40 days after your petition is filed. At Sawin & Shea LLC , we understand that hiring an attorney to help you file bankruptcy is scary. We are here to help.

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Bankruptcy Student loans Student Loans Garnishment 98

Troutman Sanders

NOVEMBER 2, 2020

In particular, the minimum loan size for three Main Street facilities available to for-profit and nonprofit borrowers was reduced from $250,000 to $100,000, and the fees were adjusted to encourage the provision of these smaller loans. For more information, click here. For more information, click here. For more information, click here.

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Credit Corp

JUNE 14, 2023

Charge-Offs: Seven Years Accounts you didn’t pay, like a charged-off credit card or installment loan balance, can stay on your credit report for seven years from the date the debt was charged off. Depending on the circumstances, this could mean garnishing your wages or attempting to collect payments through other legal measures.

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Credit Corp

AUGUST 31, 2021

But they also know that most borrowers who are sued for old debts won’t show up in court, and the judge will issue a default judgment. If your debt is past the statute of limitations at this point, you can re-open the default judgment and ask the judge to vacate it because it is time-barred. Always respond to legal summons.

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Consumer Financial Services Law

OCTOBER 25, 2017

Each business received a loan from Mercantile Bank Mortgage Company (“Mercantile”) through one loan officer, Pat Julien, in 2000 and 2006, respectively. Each loan was subsequently refinanced at least once through Julien. When Julien left Mercantile in 2006, the Guy’s accounts were transferred to a different loan officer.

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Better Credit Blog

MAY 12, 2022

In my recent experience, it’s not hard to remove judgments from your credit report as long as you follow the proper steps. Many readers assume it’s impossible to have the credit bureaus remove civil judgments because they involve the court system. It’s still possible you could see a judgment pulling down your credit score.

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Troutman Sanders

DECEMBER 20, 2022

On December 13, the CFPB and the Federal Housing Finance Agency published updated loan-level data for public use through the National Survey of Mortgage Originations. d/b/a Premier Student Loan Center, a student-loan debt-relief company. For more information, click here. For more information, click here.

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Troutman Sanders

APRIL 19, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. For more information, click here. State Activities: On April 14, Illinois Governor J.B.

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