Account Recovery

MARCH 17, 2023

The post Companies Illegally Collecting on Student Loans Discharged in Bankruptcy: CFPB appeared first on AccountsRecovery.net.

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Account Recovery

AUGUST 17, 2022

Cancels $4B of Loans appeared first on AccountsRecovery.net. Appeals Court Affirms Ruling for Defendants in FCRA Cases; Ed.

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Loans Bankruptcy 246

Sawin & Shea

JULY 14, 2021

Student loan debt can be crippling. Trying to put money towards a house or a car, as well as paying all of your other bills on top of student loan debt, is often exhausting and can sometimes feel impossible. In America alone, the average student loan debt in 2021 comes to around $1.7 How Does Student Loans Bankruptcy Work?

Chapter 13 bankruptcy 98

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Sawin & Shea

OCTOBER 26, 2022

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method best suits your financial situation.

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Personal loans Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 98

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. This is not true. More on both of those below.).

Chapter 13 bankruptcy 98

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Sawin & Shea

JULY 6, 2022

A common question we receive from those considering bankruptcy is how it impacts personal guarantees. If you’re considering filing for bankruptcy, you need to consult with a bankruptcy attorney before signing a personal guarantee. A personal guarantee loan is a signed agreement stating that you’re liable for a debt.

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Student loans 130

Account Recovery

MAY 31, 2024

A District Court judge in Indiana has dismissed claims against one credit reporting agency and granted another a motion for summary judgment in a Fair Credit Reporting Act case involving credit reporting, disputes, and bankruptcy.

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Account Recovery

JUNE 3, 2024

The Consumer Financial Protection Bureau on Friday announced it had filed a lawsuit against the Pennsylvania Higher Education Assistance Agency (PHEAA), alleging that PHEAA illegally collected on student loans that had been discharged in bankruptcy and provided false information to credit reporting companies.

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Student loans Student Loans Loans Collections 147

Roths Child Law

MARCH 11, 2022

A bankruptcy can be a good way to get your financial health back on track, but it also comes with some limitations. It may make it so it’s harder for you to get credit or loans in the future, at least for a few years. If you do need a personal loan after your Chapter 7 or Chapter 13 bankruptcy, it may be possible to get it.

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Account Recovery

JUNE 7, 2023

The parent company of Lexington Law, which filed for bankruptcy protection earlier this week, is planning to auction off its assets and has laid off more than 75% of its employees, according to published reports. The bankruptcy court yesterday approved a $12 million loan to PGX Holdings, which will be used to auction off the …

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Bankruptcy Loans 246

Account Recovery

SEPTEMBER 23, 2024

The background: The case stems from a series of private student loans taken out by one of the plaintiffs between 2003 and 2007 to attend college, with the other plaintiff — his father — co-signing for the loans.

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Student loans Student Loans Chapter 13 bankruptcy Loans 130

Account Recovery

SEPTEMBER 21, 2023

The Consumer Financial Protection Bureau has denied a petition from the Pennsylvania Higher Education Assistance Agency to set aside a civll investigative demand into whether the servicer maintained adequate policies and procedures to determine whether loans were dischargeable in bankruptcy and if attempts were made to collect on loans that had been (..)

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Student loans Student Loans Loans Bankruptcy 130

Account Recovery

FEBRUARY 18, 2025

THE COMPLIANCE DIGEST IS SPONSORED BY: BK Filings Surge in 2024, Continuing Rebound from Historic Lows Total bankruptcy filings jumped 14.2% WHAT THIS MEANS, FROM LAURIE NELSON OF PAYMENT VISION: The surge in bankruptcy filings in 2024 presents both challenges and strategic opportunities. Ocwen Loan Servicing, LLC, No.

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Nerd Wallet

OCTOBER 22, 2020

Student loan borrowers who seek to have their debt canceled in bankruptcy — what’s known as discharge — typically find it an expensive process with standards that can be difficult to meet. But recent bankruptcy court rulings and lawmakers’ support of relief for overburdened borrowers may signal a change is coming.

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Student loans Student Loans Bankruptcy Loans 85

Account Recovery

APRIL 5, 2022

The Court of Appeals for the Third Circuit has affirmed the dismissal of a Fair Debt Collection Practices Act case against a student loan servicer for continuing to attempt to collect a student loan debt after it had been discharged in bankruptcy because the plaintiff failed to follow the proper procedure.

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Student loans Student Loans Loans Fair Debt Collection 130

Roths Child Law

JULY 26, 2024

The process of filing for bankruptcy is shrouded in myths that can deter individuals from seeking the help they need. Bankruptcy law is nuanced, and the process can be intimidating. Many people believe that filing for bankruptcy means giving up everything they own or that it will permanently ruin their credit.

Bankruptcy 98

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Sawin & Shea

JULY 28, 2021

It’s tempting to believe that filing for bankruptcy is like having a magical wizard wave his wand to make all of your problems disappear. Bankruptcy isn’t rare in the Hoosier state; Indiana has the 7th highest percentage of bankruptcies in the United States, based on population: 22,748 in 2019, or 3.38 per every 1,000 people.

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Bankruptcy Credit Card Debt Chapter 13 bankruptcy Chapter 7 bankruptcy 105

Nerd Wallet

JUNE 15, 2022

You can get a business loan after filing for bankruptcy, but — at least in the years immediately following bankruptcy — it won’t be easy: Your financing options will be limited and your interest rates will be higher. While strong business financials can improve your odds of approval with a bankruptcy on your record, your.

Bankruptcy 82

Bankruptcy Loans 82

Sawin & Shea

AUGUST 18, 2021

One issue that you may worry about when filing for bankruptcy is whether or not it will affect your employment. In the midst of a stressful financial time when you are having to accept the idea that your finances are changing, it is normal to believe that there is a stigma attached to bankruptcy. Bankruptcy Code (11 U.S.

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Nerd Wallet

APRIL 12, 2022

You can get a car loan after filing for bankruptcy. Because bankruptcy filings negatively affect your credit score, securing a loan with a desirable interest rate could prove challenging. Still, you can do a few things to minimize the effects of a bankruptcy filing. Cara Smith writes for NerdWallet.

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Bankruptcy Loans Lender 76

Sawin & Shea

MARCH 9, 2022

When facing bankruptcy, many wonder how much debt is needed to file bankruptcy. There is no minimum amount of debt you need in order to file for bankruptcy, but there are other critical factors you need to take into consideration before filing under Chapter 7 or Chapter 13. Should I File for Bankruptcy?

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Credit Corp

MAY 30, 2023

Bankruptcy can happen to anyone—despite their best efforts. And while most people understand that bankruptcy is generally bad for them, many don’t realize the details of how it can impact you. Read below to find out what happens to your credit score after bankruptcy and what you can do to repair your credit afterward.

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Sawin & Shea

OCTOBER 19, 2022

Difficult financial situations are never in our plans, so those who file for bankruptcy are often left with a lot of questions about what they can and can’t do once proceedings are completed. One of the confusing subjects surrounding bankruptcy is car buying. Differences between Chapter 7 and Chapter 13 Bankruptcies.

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Sawin & Shea

APRIL 6, 2021

Bankruptcy is a smart, legal, and effective way to wipe out a mountain of old debts. There are many reasons why people resist bankruptcy, but some are based on fiction rather than facts. Maybe you’re avoiding bankruptcy merely because of a mistaken impression about it, so let’s clear things up. Assuming It Is Rarely Needed.

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Credit Corp

NOVEMBER 12, 2020

You might have heard that bankruptcy gives you a clean financial slate, but that’s not exactly accurate. For those experiencing serious financial distress, bankruptcy can be a way to eventually restart. Bankruptcy is a negative item that can show up on your report and impact your credit score for years.

Bankruptcy 105

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Loans 105

Sawin & Shea

FEBRUARY 9, 2022

Filing for chapter 13 bankruptcy can seem like a daunting task, but it’s often the right move for those who are facing foreclosure, repossession, or have exorbitant debts. If you’re thinking of filing for chapter 13 bankruptcy, you may have questions regarding how it will impact your credit score.

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Sawin & Shea

JUNE 22, 2022

Since 1991, the number of retirees filing for bankruptcy has tripled , with 12.2% of all bankruptcies being filed by people 65 and older. And student loan payments are often even a burden for senior citizens today. However, though bankruptcy can be a good option, it is not always the best option, especially if you are retired.

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Roths Child Law

AUGUST 2, 2024

One of the challenging topics when filing for bankruptcy is whether or not to tell creditors. Should you inform your creditors about your plan to file for bankruptcy, or is it a bad idea? If your objective of telling a creditor you are filing for bankruptcy is to stop collections or buy more time, you may not get what you hope for.

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Sawin & Shea

OCTOBER 6, 2021

Though enacting the CARES Act helped, those dealing with hefty mortgage payments and considering bankruptcy, for example, weren’t entirely clear on their options. However, the situation was a bit more complicated for those already in bankruptcy or considering it. What is the CARES Act?

Bankruptcy 98

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Roths Child Law

DECEMBER 30, 2020

Home equity loans are generally referred to as second mortgages. If you are struggling to make payments on a second mortgage, it may be possible to file bankruptcy in an effort to have the debt discharged. What type of bankruptcy protection should you seek? You'll want to hire an attorney.

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Sawin & Shea

MAY 5, 2021

Filing for Chapter 7 or Chapter 13 Bankruptcy: Chapter 7 will wipe out (discharge) your medical debt along with other unsecured debt, but you must have low enough income to pass the means test in order to qualify for it. Chapter 13 bankruptcy is discussed below. Ten facts About Chapter 13 Bankruptcy and Medical Bills: #1.

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Consumer Finance

MARCH 15, 2023

Today, the Consumer Financial Protection Bureau (CFPB) released a bulletin warning servicers of their obligation to halt unlawful conduct with respect to private student loans that have been discharged by bankruptcy courts.

Student loans 111

Student loans Student Loans Loans Bankruptcy 111

Sawin & Shea

MARCH 15, 2022

Filing for bankruptcy is an important step for many individuals looking to overcome debts. Your investment real estate’s outcome depends entirely on whether you file for Chapter 7 or Chapter 13 bankruptcy. Investment Real Estate in Chapter 7 Bankruptcy. Investment Real Estate in Chapter 7 Bankruptcy.

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PBWT

JUNE 22, 2021

1] The Bankruptcy Code generally excludes student loan debt from the general discharge individual debtors are entitled to receive upon the conclusion of their case. McCoy might be able to repay some of her student loan debt in the future, which they treated as dispositive under Brunner’s second prong. § 523(a)(8). [1]

Student loans 85

Student loans Student Loans Bankruptcy Loans 85

Sawin & Shea

NOVEMBER 30, 2022

Student loan default can impact millions of Americans. Unfortunately, defaulting on a student loan can hurt your finances, credit, and other aspects of your life. If you fall behind on student loan payments, your loan won’t default immediately. What Are My Options After Defaulting on Student Loans?

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Student loans Student Loans Loans Garnishment 112

Roths Child Law

NOVEMBER 16, 2022

People who have too much debt and can’t make payments often declare bankruptcy to help relieve them of their financial obligations. Otherwise, too much debt can hamper the ability to take on loans. Here’s what you should know: What is Chapter 7 bankruptcy? What is Chapter 13 bankruptcy?

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Sawin & Shea

JULY 15, 2020

When you’re considering Chapter 13 bankruptcy, you’re also wondering how much of your debt you’d be obligated to pay back. Let’s take a look at a debtor’s obligations under Chapter 13 bankruptcy. What Is A Chapter 13 Bankruptcy Plan? There will also be some attorney fees and a bankruptcy filing fee.

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