Collection Industry News

SEPTEMBER 2, 2023

And another factor might make the increases more painful for some consumers: The pause on federal student loan payments ended Sept. Student loan balances have already begun accruing interest again, and soon, borrowers will be expected to start making regular payments.

Credit Card Debt 40

Credit Card Debt Consumer Credit Student loans Student Loans 40

True Accord

JULY 13, 2023

The ending of various pandemic-era benefits including the pause on student loan payments will impact consumers in the coming months. The federal government has projected that about 15 million people will lose coverage , including nearly seven million people who are expected to be dropped despite still being eligible. 9%) to $17.05

Financial Institution 67

Financial Institution Student loans Student Loans Loans 67

Collection Industry News

APRIL 27, 2021

Mortgage servicers would be allowed to temporarily offer certain loan modification options to borrowers affected by Covid-19 based on the evaluation of an incomplete application, subject to the following: “[T]he loan modification must be made available to a borrower experiencing a Covid-19 related hardship.”. “[T]he

Foreclosure 40

Foreclosure Accrued Interest Loans Collections 40

Titan Consulting

SEPTEMBER 15, 2020

Personal loans, credit card debt, payday loans, or medical bills all fall into the category of unsecured personal debt. The reality is that even if you could manage to keep up making the minimum payments on your credit card accounts, it could take decades to repay the large balances that carry high-interest rates and compound daily.

Credit Card Debt 84

Credit Card Debt Debt settlement Creditors Debt collector 84

Credit Corp

MARCH 8, 2023

However, you can often earn higher interest rates on a bond. The downside is that since a bond is really a loan to the government or a company, you can’t request your funds early. Don’t let your savings sit in an account that’s not accruing interest. The only option you have is to sell your bond.

Credit Unions 98

Credit Unions Credit Unions Banks Financial Institution 98

FDCPA Defense

FEBRUARY 1, 2018

as well as analogous state laws governing the consumer collection process. Duty to disclose accruing interest, fees or other charges A significant recent trend in FDCPA case law involves courts that have imposed new disclosure obligations that are not found in the plain language of the Act. . § 1692 et. System, Inc., Hawaii Mar.

Accrued Interest 40

Accrued Interest Foreclosure Debtor Debt collector 40

BN Lawyers

MARCH 23, 2020

These parties could foreclose or repossess the property securing the loans. A lender who provided a secured loan for your kitchen equipment would have a difficult time profitably foreclosing on those assets. Although minimum payments may result in accrued interest, that is better than a lockout or eviction.

Bankruptcy 67

Bankruptcy Creditors Lender Lawyers 67

Collection Industry News

MARCH 6, 2024

President Biden will announce a new effort on Monday to reduce or eliminate student loan debt for millions of borrowers, an election-year attempt to revive his goal of providing large-scale relief for Americans struggling to pay off their college loans, a person familiar with the plan said Friday.

Student loans 40

Student loans Student Loans Loans Accrued Interest 40

Collection Industry News

APRIL 25, 2022

The Public Service Forgiveness Program eliminates the debts of government and non-profit organizations’ workers, who have accrued at least 10 years of qualifying payments. The post stated, in part: “Children of Congress members do not have to pay back their college student loans.”. This claim has been shared since at least 2010.

Student loans 40

Student loans Student Loans Loans Education 40

Collection Industry News

NOVEMBER 6, 2023

The Biden-Harris Administration is fully committed to supporting student loan borrowers as they navigate return to repayment and fixing problems in the student loan system. Today, the U.S. Today, the U.S. FSA is committed to ensuring servicing contracts evolve to meet borrowers’ needs. “FSA

Student loans 40

Student loans Student Loans Loans Accrued Interest 40

Collection Industry News

MAY 3, 2022

A number of people in the so-called “boomer” generation have hit out at President Joe Biden ‘s reported plans to forgive some student loan debt for millions of people. However, the reported plans to forgive student loans money have also been met with criticism, especially from older generations who have spent years paying off their own debt.

Student loans 40

Student loans Student Loans Loans Accrued Interest 40