Sawin & Shea

MARCH 23, 2021

Is a car repossession looming in your future? Car repossession is one of the many reasons people contact the Indiana bankruptcy attorneys here at Sawin & Shea. Here’s some good news: You don’t have to just give up and allow your car to be repossessed. Don’t let a car repossession happen without talking to an attorney first.

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Troutman Sanders

MARCH 2, 2022

On February 28, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a bulletin and accompanying press release , highlighting an issue that the agency has written about frequently over the past several years: inadvertent repossessions. Failing to cancel active repossession orders when a consumer files for bankruptcy.

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Repossession Retrieval Bankruptcy Loans 52

Indiana Consumer Law Group

MARCH 24, 2022

The lawsuit alleges that Financial Center First Credit Union repossessed our client’s car. The lawsuit therefore contends that the letter is misleading and unfair because it falsely states that a consumer or someone associated with them could purchase the repossessed car at auction when that was not the case. Continue reading.

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Credit Unions Credit Unions Repossession Lawyers 52

Jimerson Firm

NOVEMBER 16, 2020

The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession. In Florida, a secured creditor may use self-help repossession without going to court, provided it does not “breach the peace.” § 679.609(2)(b), Fla. Debtor’s Consent to the Entry and Repossession.

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Sawin & Shea

MAY 26, 2020

I’m here to talk to you today about repossessions. I know currently with this current COVID-19 crisis, many car lenders have voluntarily suspended repossessions. There is no state mandate keeping them from repossessing cars. Give us a call, if you have any questions about repossessions. This is voluntary.

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Repossession Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy 52

Roths Child Law

MAY 11, 2021

When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work? Repossession usually starts with the lender warning and then formally notifying the vehicle owner about arrears on their payments.

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Troutman Sanders

OCTOBER 15, 2020

Specifically, the CFPB alleged that Nissan violated the Act in four ways: By repossessing vehicles between 2013 and 2020 even though customers had already made payments or taken action that should have prevented repossession; By requiring customers to pay a $7.95 Nissan also agreed to non-monetary relief as part of the Order.

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Account Recovery

DECEMBER 19, 2023

Appeals Court Overturns FDCPA, RFDCPA Case That Was Dismissed Under Anti-SLAPP Statute Bill Introduced in House to Require Banks to Keep Paper Statements Appeals Court Affirms Dismissal of FDCPA Case Over Auto Repossession WORTH NOTING: The best Lego sets for adults, according to experts … […]

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Roths Child Law

MAY 11, 2021

When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work? Repossession usually starts with the lender warning and then formally notifying the vehicle owner about arrears on their payments.

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Account Recovery

JANUARY 5, 2023

The Consumer Financial Protection Bureau and the Attorney General of New York yesterday filed a lawsuit against an auto lender, accusing it of tricking consumers into high-cost loans on used cars that resulted in unaffordable monthly payments, vehicles being repossessed, and customers facing debt collection lawsuits.

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Lender Repossession Collections Loans 243

Account Recovery

MAY 3, 2022

The report spotlighted problem areas, including wrongful auto repossessions and failures to conduct reasonable investigations when consumers dispute debts, but also included violations related … The post CFPB Supervisory Highlights Report Spotlights Issues Found in Debt Collection Exams appeared first on AccountsRecovery.net.

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Indiana Consumer Law Group

JANUARY 3, 2018

The lawsuit alleges that agents of Tri-Force breached the peace when they attempted to repossess a vehicle from our client and then, when our client physically resisted the repossession (as was his legal right to do), engaged the police to coerce our client to relinquish possession of the vehicle and thereby accomplish the wrongful repossession.

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Repossession Credit Unions Credit Unions Legal Rights 40

Consumer Finance

MAY 1, 2022

Today the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the second half of 2021. The report details key findings across consumer financial products and services.

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Troutman Sanders

FEBRUARY 29, 2024

Repossessions — the CFPB requested information on the circumstances leading up to a repossession, the impact of a repossession on the borrower and lender, and information about the kinds of technology used during repossession, such as GPS tracking and starter-interrupt devices.

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Indiana Consumer Law Group

JANUARY 12, 2017

over a repossession that allegedly did not comply with Indiana law. Specifically, the repo agent is alleged to have breached the peace in repossessing the plaintiff’s vehicle. Indiana law, like most states’, permits a lienholder to repossess a car when the owner defaults on the note. hooked up to) the vehicle.

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Consumer Financial Services Law

NOVEMBER 12, 2016

Auto loan servicers need to pay careful attention to their repossession practices and particularly, their policies concerning repossession fees. Auto loan servicers need to examine their policies and procedures regarding their repossession practices to insure they are in line with the CFPB expectations. 6 (Issue 13, Fall 2016).

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UK debt collections

FEBRUARY 10, 2023

Repossessions by landlords hit 5,409 between 1 October and 31 December last year, which was almost double the number in the same period in 2021, according to new Ministry of Justice figures for England and Wales. Social landlord repossessions were highest in Preston, Lancashire, with 146 per 100,000 households.

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Repossession 59

UK debt collections

FEBRUARY 11, 2024

Meanwhile, the number of repossessions remains very low. Repossession is only ever a last resort and after other options have been explored. Across BTL and homeowner mortgaged properties, a total of 1,040 were repossessed in Q4 2023. This compares with nearly 2,000 in Q4 2019 before the pandemic.

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Account Recovery

AUGUST 3, 2023

A […]

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Loans Repossession Collections 130

Troutman Sanders

FEBRUARY 24, 2023

The data requests are extensive and request information about originations, servicing, and repossessions over the past five years. Repossessions Specifically, the CFPB requests information on the circumstances leading up to a repossession, and the impact of a repossession on the borrower and lender.

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Consumer Finance

OCTOBER 12, 2020

The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide.

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Account Recovery

OCTOBER 14, 2020

The Consumer Financial Protection Bureau yesterday announced it had entered into a consent order with Nissan Motor Acceptance Corp.,

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Credit Corp

JANUARY 11, 2024

Once you return your car, the lender will treat it like a regular repossession. However, by voluntarily giving your car back, you can avoid the embarrassment of a regular repossession and some of the fees associated with this process. Keep in mind that even a voluntary repossession will show up on your credit report.

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Repossession Lender Loans Bankruptcy 52

Roths Child Law

APRIL 10, 2024

If you still owe money on your car loan, the lender may consider repossessing the car. Tennessee bankruptcy laws do not offer a motor vehicle exemption, but you could use the $10,000 wildcard exemption to cover your vehicle. What if you still owe money on an auto loan?

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Micro Bilt

JANUARY 9, 2024

Debt collection tactics are becoming more high tech - some even have the ability to remotely repossess items bought on credit. These resources help professionals contact debtors and better communicate with them to get back the money owed.

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Roths Child Law

MARCH 15, 2023

When they can't find a job that offers comparable pay, they may find themselves unable to pay their bills at all in facing foreclosure, repossession or lawsuits from creditors. Even successful professionals typically only have enough money in savings to cover their cost-of-living expenses for a month or two.

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Nerd Wallet

JULY 9, 2021

The automatic stay temporarily halts most judgments, collection activities, foreclosures and repossessions of the consumer’s property, which is known as the bankruptcy estate. The moment a consumer files for bankruptcy, such as Chapter 7 or Chapter 13, an automatic stay typically takes effect immediately. What the automatic stay.

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Optio Solutions

JUNE 8, 2023

While a car can be repossessed in the case of non-payment, utilities can’t be reclaimed. Unlike hard goods like cars, furniture, etc., utilities like electricity, water and gas are intangible services. That makes utilities debt collection difficult as the only real incentive for paying is disruption of service.

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Troutman Sanders

MARCH 10, 2023

Auto Loan Servicing: Examiners asserted that some servicers charged late fees that exceeded the permissible amounts stated in borrowers’ contracts or charged late fees to consumers after vehicle repossessions and loan acceleration, even though a monthly payment was no longer due.

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Repossession Student loans Student Loans Loans 52

Credit Corp

JUNE 14, 2023

Car Repossession It’s important to realize that an auto loan is a type of secured loan. This process is referred to as repossession. Laws regarding car repossessions vary from state to state. Laws regarding car repossessions vary from state to state. How Late on Your Car Payments Can You Be Before the Car Is Repossessed?

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Nerd Wallet

AUGUST 31, 2021

Until you fully repay the loan, the lender holds the title to the car and can repossess it if you fall behind. Then, it’s yours to drive, while also making monthly payments on the loan (with interest) over time. Shannon Bradley writes for NerdWallet. Email: sbradley@nerdwallet.com. The article How Do Car Loans Work?

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Nerd Wallet

MAY 25, 2022

Ads for “second-chance auto loans” may catch your attention if you need to buy a vehicle and have bad credit, past bankruptcy or previous car repossession. That’s especially true if your goal is to mend your credit. The term “second-chance” implies that making on-time loan payments could offer a fresh start. But you should be.

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UK debt collections

AUGUST 3, 2023

The message, signed by The VanMoof team, acknowledges the uncertain times for its customers and states that they are currently working on finding the best way forward for e-bikes locked in its Battersea store, which was repossessed by the landlord last week, reports Sifted. The situation has caused chaos for consumers.

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UK debt collections

FEBRUARY 12, 2024

Shelter believes that most renters move out before the end of this notice period to avoid the eviction claim going to court, so the lower repossession statistics may only show part of a bigger problem. Section 21 evictions allow landlords to evict tenants with two months’ notice and no reason given.

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Nerd Wallet

MARCH 21, 2022

Bad-credit car dealerships sell and finance vehicles for people with low credit scores, no credit, past bankruptcies, car repossessions or other credit issues. Some of these dealerships specialize in working with lenders that are more inclined to approve bad-credit borrowers.

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Repossession Bankruptcy Lender Loans 67

Sawin & Shea

FEBRUARY 16, 2022

If you’re in an emergency situation such as wage garnishment, eviction, or pending repossession filing an emergency bankruptcy may be right for you. Those filing an emergency bankruptcy receive an automatic stay even before completing certain documents. An automatic stay is an injunction prohibiting creditors from collecting debts.

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Sawin & Shea

DECEMBER 21, 2023

The creditor can then pursue repossession or foreclosure. Common violations include sending demand letters, making collection calls, or attempting repossession post-bankruptcy. A creditor can request relief from stay by motion during the bankruptcy if a debtor lacks equity in the property or fails to provide “adequate protection.”

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