Account Recovery

SEPTEMBER 14, 2020

Judge Grants MTD in Student Loan Collection Case; Unlicensed Debt Collector Arrested in N.C. appeared first on AccountsRecovery.net.

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Credit Corp

MARCH 9, 2021

Going through student loan repayments can be a hassle. However, due to the COVID-19 pandemic, student loan payments and collection attempts have been paused until September 30, 2021. This means you have more time to find ways to repay your student loans before you have a defaulted loan.

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Account Recovery

MARCH 14, 2024

Getting to Know Matt Jubenville of Midland Credit Management Passive Debt Buyer Meets Definition of Debt Collector Under FDCPA, Indiana State Law, State Appeals Court Rules Medical Debt Credit Reporting Bill Advances in Illinois Senate Employers Need Education on Student Loan Garnishments PRA Group Appoints Glenn Marino to Board of Directors WORTH (..)

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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.

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Titan Consulting

JUNE 7, 2020

Congress recently passed legislation in the CARES act that provides direct and indirect benefits to Federal Student Loan borrowers. Congress also counts the non-payment period through September as credit toward loan forgiveness credit. Help Available for Borrowers with Student Loans. Key Takeaways.

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Credit Corp

MAY 17, 2021

But those who are struggling with debt might wonder: Can my stimulus check be garnished for credit card debt or other money owed. In some cases, the money you get from the third stimulus could be garnished. Federal Student Loan Debt: No. This is not necessarily true for private student loans, though.

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Account Recovery

FEBRUARY 27, 2023

The Court of Appeals for the Tenth Circuit has upheld a ruling in favor of a defendant that was sued for obtaining a default judgment and garnishing the plaintiff’s wages after he defaulted on a student loan debt, by falsely claiming he was the victim of identity theft and claiming the defendants lacked standing to … The post Appeals Court (..)

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Collection Industry News

APRIL 11, 2022

The student loan crisis is a hot topic of conversation in Washington because student debt is felt by a lot of us, 45 million of us to be exact, for a total debt of 1.6 We often break our pink piggy bank that says student loan on it, in an attempt to pay back our debts. The history of student loans.

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Collection Industry News

MARCH 28, 2022

A new report claims that 8 million student loan borrowers will be at risk if the student loan payment pause ends. Here’s what you need to know — and what it means for your student loans. Student Loans. The student loan payment pause provided meaningful student loan relief.

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Collection Industry News

FEBRUARY 20, 2023

The pandemic-relief policy suspending federal student loan payments has now been extended eight times and spanned nearly three years. 28 over President Joe Biden’s student loan forgiveness plan will solidify the timeline. When will the payments actually resume? It’s still uncertain. In November, the U.S.

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Direct Recovery

APRIL 16, 2023

Wage garnishments are the ultimate threat posed by every debt collection scenario, but finding yourself on the wrong end of one doesn’t have to be a financial death sentence. Wage garnishments are put into place to recover unpaid taxes, outstanding child support, student loans, court judgments, or unpaid bills.

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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. also qualify.

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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

APRIL 3, 2024

Professional Licenses and Loan Defaults While a bankruptcy filing alone shouldn’t ruin your chances of obtaining a license, defaulting on certain loans and debts can. Additionally, bankruptcy may indicate other financial problems that can impact your status with your employer, such as fraud or defaulting on certain loans.

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Collection Industry News

MARCH 17, 2024

Hochul specifically mentioned student loan servicers who encourage the quickest repayment plans or plans not suitable for the party repaying. In New York, retirement income from Social Security and other sources are exempt from garnishment. The government will look to stop these exploitative tactics and more.

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Credit Corp

JUNE 14, 2023

More than 10% of subprime auto loan customers were behind on payments by 60 days or more in early 2021. We’ll break down when a car payment is late, as well as other common loans, so you’ll be prepared to pay your loans on time. How Late Can You Be on a Mortgage Loan Payment? How Late Can You Be on Student Loans?

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Troutman Sanders

SEPTEMBER 19, 2022

the plaintiff defaulted on his student loan payment, and the account was sold to Educational Credit Management Corporation (ECMC), a federal student loan guarantee agency, which then contracted with Pioneer Credit Recovery, Inc. In Tavernaro v. Pioneer Credit Recovery, Inc. , Pioneer) to help collect the debt.

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FFGN COLLECT NY

JANUARY 10, 2024

Hochul specifically mentioned student loan servicers who encourage the quickest repayment plans or plans not suitable for the party repaying. In New York, retirement income from Social Security and other sources are exempt from garnishment. The government will look to stop these exploitative tactics and more.

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Sawin & Shea

JANUARY 24, 2024

The Pros Bankruptcy can stop foreclosures , repossessions, lawsuits, wage garnishment, utility shut-offs, and debt collection activities through its automatic stay provision. Any debts not discharged, like student loans, remain. Poor credit scores disqualify many people from the best rates on consolidation loans.

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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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Troutman Sanders

NOVEMBER 8, 2022

On November 2, the Consumer Financial Protection Bureau (CFPB) released a blog post, exploring the potential impact of student loan payment reinstatement. The CFPB found that student loan borrowers are increasingly likely to struggle once their monthly student loan payments are reinstated.

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Collection Industry News

NOVEMBER 8, 2021

More than eight million Americans were in default on their student loans as of June. They represent roughly one-fifth of the 43 million Americans who held federal student debt. times as likely to default on their loans as their white peers. Finally, we must make the consequences of default less punitive.

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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.

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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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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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Credit Corp

MAY 19, 2021

A judgment can allow a creditor to file a lien against your property or garnish your accounts, for example. Here are some examples of what might happen if you move abroad and ignore the debt that you owe: If you move abroad, you’ll still be responsible for your student loan debt. According to S. Why Won’t This Strategy Work?

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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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Sawin & Shea

MARCH 6, 2024

Understanding Debt Consolidation Debt consolidation is the process of taking out a brand-new loan and using the money to pay off other loans or debts. Pros & Cons of Debt Consolidation Debt consolidation can be great if you qualify for a loan with a low enough interest rate. What kind of debt do you have?

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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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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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Credit Corp

JUNE 3, 2020

Common methods include wage garnishment , property attachments and property liens. 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.

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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.

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Financial services Student loans Student Loans Garnishment 52

Sawin & Shea

MARCH 7, 2023

When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments.

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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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Collection Industry News

FEBRUARY 15, 2021

Consumer risks included delays in processing suspensions of administrative wage garnishments, potential FDCPA compliance risks associated with new bank attachments or wage garnishments, and delays in payment processing.

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Troutman Sanders

MARCH 22, 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. As of March 18, the department intends to issue full loan discharges for borrowers with approved borrower defense claims. On March 17, U.S.

Financial services 52

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Troutman Sanders

JANUARY 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. Department of Education to continue excusing borrowers from making payments on their student loans in light of the COVID-19 pandemic.

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