Collection Industry News

APRIL 27, 2021

On April 13, the CFPB entered into a preliminary settlement with an online debt-settlement company for allegedly violating the CFPA’s prohibition on abusive acts or practices and failing to clearly and conspicuously disclose total cost under the Telemarketing Sales Rule. Source: site.

Debt settlement 40

Debt settlement Loans Creditors Judgment 40

Collection Industry News

APRIL 22, 2023

The justices declined to intervene over a class-action settlement that could lead to the cancellation of more than 200,000 loans based on claims that colleges misled students. The Supreme Court in a brief order rejected a request made by colleges challenging the settlement. The colleges object to that characterization.

Student loans 40

Student loans Student Loans Debt settlement Loans 40

Collection Industry News

JUNE 5, 2022

On May 26, 2022, the North Carolina Attorney General (NC AG) announced that it obtained a default judgment against a California-based debt settlement business, and its proprietor. Specifically, the NC AG alleged that the defendants unlawfully collected up advance ?fees Source: site. View source.].

Debt settlement 40

Debt settlement Foreclosure Trade Loans 40

Credit Corp

MARCH 16, 2021

You have a habit of exhausting your credit limit quickly Whenever you are short of cash, you tend to take out a high-interest loan. You got married or had a sudden medical emergency for which your debt went out of your control. How to Control Your Debt Yourself. What kind of debts do you have? Opt for Debt Settlement.

Debt Consolidation 98

Debt Consolidation Credit Card Debt Debt settlement Credit Counselor 98

Better Credit Blog

APRIL 11, 2022

Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. You may be sent to collections. The Windfall.

Debt Consolidation 74

Debt Consolidation Debt settlement Credit Card Debt Bankruptcy 74

Credit Corp

AUGUST 24, 2021

This is to help ensure that all outstanding items are being looked at and help the counselor understand if you’re dealing with collections. This might include options such as budgeting, debt settlement, consolidation loans, or debt management programs. Debt settlement. Consolidation loans.

Credit Counselor 98

Credit Counselor Debt settlement Debt Management Creditors 98

Collection Industry News

MAY 16, 2022

According to the complaint, the defendants, a student loan debt relief business and a general debt-settlement company, along with their owner and CEO charged illegal upfront fees and deceived customers into paying for debt relief services in violation of the Consumer Financial Protection Act (CFPA) and Telemarking Sales Rule (TSR).

Debt settlement 40

Debt settlement Student loans Student Loans Loans 40

Sawin & Shea

AUGUST 24, 2020

Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt. There are limitations as to the amount of debt you can have, and it is limited to individuals and sole proprietors.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debt collector 98

Better Credit Blog

APRIL 1, 2022

To remove Capital One Collections from your credit report, you first need to know who currently owns the debt. In other words, has Capital One sold your unpaid credit card debt to another collection agency, or is the debt still with Capital One? Steps To Remove Capital One Collections From Your Credit Report.

Debt collector 73

Debt collector Credit Card Debt Third-party Debt Collectors Collections 73

Qualco

NOVEMBER 7, 2023

Managing loan portfolios becomes a labyrinth for financial institutions in a financial ecosystem marked by unrelenting complexity and constant change. This scenario underscores the pressing need for resilient and adaptable strategies in managing loan portfolios. A significant factor to consider is regulatory compliance.

Financial Institution 105

Financial Institution Debtor Loans Collateral 105

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.

Student loans 81

Student loans Student Loans Chapter 13 bankruptcy Chapter 7 bankruptcy 81

Sawin & Shea

FEBRUARY 2, 2022

Debt Settlement. Debt settlement is an option, but it should be the thing you consider last because it generally requires you to default with your creditors first. If your account defaults and goes to collections and you still can’t pay, your creditor can take legal action against you. Consolidation Loans.

Credit Card Debt 72

Credit Card Debt Chapter 13 bankruptcy Bankruptcy Creditors 72

Nexa Collect

JULY 1, 2020

Individuals, like you or I, have a credit history which determines our eligibility for home and car loans, ability to rent an apartment, obtain insurance, find a job and even maintain long-term romantic relationships. A lender has the right to report unpaid debt to credit reporting agencies. Where to Look for Your Credit Score.

Bankruptcy 130

Bankruptcy Lender Credit Unions Credit Unions 130

Troutman Sanders

JANUARY 20, 2022

On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair, deceptive, and abusive student loan origination and servicing practices.

Student loans 52

Student loans Student Loans Loans Lender 52

Better Credit Blog

APRIL 4, 2022

Regardless of what a debt collector might tell you, you have a lot of rights when it comes to how debt can be collected. In fact, merely mentioning that you understand your rights will, many times, stop debt collectors in their tracks. Your rights come from the Fair Debt Collection Practices Act (FDCPA).

Debt collector 116

Debt collector Fair Debt Collection Collection Agencies Collections Agency 116

Credit Corp

DECEMBER 3, 2024

When youre late on payments or stop making payments on a loan, the lender can repossess or repo the item youre financing to settle your debt. Consider debt settlement Step 6. They take possession and use the item to settle your loan debts. Table of contents: Step 1: Understand What Repossession is Step 2.

Repossession 52

Repossession Debt settlement Lender Credit Bureau 52

Credit Corp

FEBRUARY 9, 2024

Debt relief won’t hurt your credit alone. Debt relief and debt settlement options don’t hurt your credit score on their own. These programs aim to help reduce your debt and if that debt is revolving credit, it can reduce your credit utilization and improve your credit.

Credit Counselor 52

Credit Counselor Debt Consolidation Debt settlement Bankruptcy 52

Better Credit Blog

FEBRUARY 17, 2021

Fidelity National Collections is a medical debt collection company that works on behalf of healthcare providers to recover unpaid balances. Apart from their calls and letters, Fidelity Collections can have a detrimental effect on your credit score. About Fidelity National Collections. Ask Lex Law for Help.

Collections 52

Collections Debt collector Healthcare Debt settlement 52

Credit Corp

JUNE 1, 2021

Established credit history can impact everything from getting a future loan (such as a mortgage) to renting an apartment. Monthly expenses might include student loan payments, car payments, and credit card payments. Collect Rent. Pay Student Loan Debt. Some Millennials may want to look into loan consolidation.

Student loans 74

Student loans Student Loans Loans Credit Card Debt 74

Collection Industry News

APRIL 24, 2025

It will also improve privacy protections and prevent debt collectors from pressuring consumer to pay bills they dont owe. The bureau reports that, even though it leads to thousands of denied loan applications annually, medical debt is a poor predictor of a borrowers creditworthiness.

Creditworthiness 40

Creditworthiness Debt settlement Collection Agencies Collections Agency 40

Debt Guru

AUGUST 30, 2021

When your voicemail is filled with messages from collection agencies and stacks of bills arrive in your mailbox that you have no chance of paying, it’s time for some serious debt relief help. There are two forms of bankruptcy: Chapter 7 bankruptcy is when you go to court and ask that all of your outstanding debt is discharged.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Credit Counselor Debt settlement Chapter 13 bankruptcy 52

Credit Corp

JANUARY 9, 2025

Table of Contents: Create a Budget Try the Debt Snowball Method Use the Avalanche Method Get a Balance Transfer Card Build Your Emergency Fund Negotiate a Debt Settlement Start Using Cash Increase Your Income Take Out a Debt Consolidation Loan 1. You can use this strategy with collections agencies as well.

Credit Card Debt 52

Credit Card Debt Debt Consolidation Debt settlement Loans 52

Collection Industry News

APRIL 13, 2024

These plans typically run for three to five years, allowing you to pay off your debt completely during that timeframe. Pay it off with a debt consolidation loan A debt consolidation loan from a bank, credit union or online lender may also be worth considering.

Credit Card Debt 40

Credit Card Debt Debt settlement Debt Consolidation Personal loans 40

Troutman Sanders

NOVEMBER 15, 2022

On November 8, Arizona voters approved a measure, limiting medical debt collection. Proposition 209, or the Predatory Debt Collection Act, lowers the interest rate cap on medical debt and also increases the value of assets shielded from certain creditors. For more information, click here.

Financial services 52

Financial services Student loans Student Loans Trade 52

Collection Industry News

MAY 3, 2022

– Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed order to resolve its allegations that Performance SLC, a student loan debt relief business, and Performance Settlement, a general debt-settlement company, along with their owner and CEO, Daniel Crenshaw, engaged in wrongful fee-charging practices and deceptive telemarketing.

Student loans 40

Student loans Student Loans Personal loans Loans 40

Collection Industry News

DECEMBER 1, 2022

Collections agencies buy your unpaid credit card debt from your card issuer when your balance lingers too long — but that doesn’t mean it goes away. When a collections representative from your credit card issuer calls you, it’s usually because you haven’t made at least the minimum payment for at least 30 days.

Collection Agencies 40

Collection Agencies Collections Agency Credit Card Debt Collections 40

Credit Corp

AUGUST 8, 2024

Cosigners can take the primary borrower to court if the primary borrower fails to repay the loan or otherwise fails to fulfill the terms of their agreement. As you learn about getting a cosigner, you’ll see that they can help you get a loan you may not otherwise qualify for. When Could a Cosigner Take You to Court?

Loans 40

Loans Debt Consolidation Credit Card Debt Garnishment 40

Credit Corp

MAY 1, 2024

Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. It’s crucial to fully understand the terms and consequences before pursuing debt forgiveness and to explore other options such as debt management or consolidation.

Credit Card Debt 59

Credit Card Debt Chapter 7 bankruptcy Bankruptcy Creditors 59

Debt Free Colorado

DECEMBER 23, 2024

In this article, we will explore the types of unsecured debts that bankruptcy can erase. Quick Summary: Filing for bankruptcy stops all debt collection right away through the automatic stay. You must take credit counseling before filing and complete a financial course after filing to get debt relief.

Unsecured Debt 52

Unsecured Debt Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy 52

Taurus Collect

NOVEMBER 15, 2023

Regulations around debt collection are strict, and experts from no cure no pay debt collection UK are here to help you navigate these waters. In this post, we will explore the rights and regulations governing debt collection in the UK. ” If you’re based in the UK, the answer may surprise you.

Debt collector 52

Debt collector Fair Debt Collection Collection Agencies Collections Agency 52

Sawin & Shea

MAY 24, 2023

Chapter 7 bankruptcy (the most common form of bankruptcy ) essentially wipes away a large portion of your unsecured debts and protects certain assets you may possess. Briefly, unsecured debts are not backed by any collateral. Unlike car and home loans, unsecured debt means that creditors aren’t able to reclaim property if you default.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Unsecured Debt Chapter 13 bankruptcy 52

Debt Free Colorado

DECEMBER 7, 2016

Meet with an attorney to discuss your financial circumstances and options including debt settlement, repayment plans, Ch. Lawsuits, garnishments, foreclosures, and other collections stop at this time. All the debts listed in your case that can be discharged are wiped out. The Trustee collects these assets.

Chapter 7 bankruptcy 40

Chapter 7 bankruptcy Bankruptcy Student loans Student Loans 40

Sawin & Shea

MAY 2, 2024

If you qualify for Chapter 7 bankruptcy, our attorneys can guide you through the process of eliminating unsecured debts, such as credit card balances, medical expenses, and personal loans, within a matter of months. However, certain debts like child support, alimony, and other domestic support obligations cannot be eliminated.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Credit Corp

APRIL 2, 2024

Repairing your credit often requires more than responsible credit management—you also may need to have inaccurate negative items removed from your credit report, such as missed payments, debt collections, repossessions and more. Due to the loss of income, you had trouble paying your bills, such as your car loan or electric bill.

Lawyers 52

Lawyers Lender Repossession Debt settlement 52

Collection Industry News

MARCH 28, 2022

The Department has also begun licensing debt collectors. Proposed registration includes debt settlement services, student debt relief services, postsecondary education financing, and wage-based advances. Regulatory Activities. Research and Market Monitoring.

Debt collector 40

Debt collector Education Credit Unions Lender 40

Better Credit Blog

FEBRUARY 11, 2022

Rated the best debt relief company on Trustpilot. A Guide to Debt Settlement Services. If you’re on the brink of bankruptcy, a final option before filing is to try the services of a debt settlement firm. As Experian notes , “Debt settlement is a risky process with no guarantee of success.”.

Debt settlement 72

Debt settlement Creditors Lender Unsecured Debt 72

Collection Industry News

JUNE 10, 2024

The rule change, announced by the Consumer Financial Protection Bureau (CFPB) on June 11, would prevent almost any medical debt from appearing on credit reports. In a statement, the CFPB said medical bills “have little to no predictive value when it comes to repaying other loans.“ How long does medical debt stay on your credit?

Debt Consolidation 40

Debt Consolidation Healthcare Debt settlement Loans 40