Jimerson Firm

NOVEMBER 16, 2020

When a borrower applies for a loan, most lenders require the borrower to pledge an asset as security for the repayment of the loan, i.e. collateral. In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral. 679.609, Fla. Brinkley , 282 So.

Secured Creditor 69

Secured Creditor Collateral Repossession Creditors 69

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. Payday loans.

Personal loans 98

Personal loans Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 98

Credit Corp

JULY 9, 2024

A car repossession can significantly damage your credit score, potentially causing a drop of up to 100 points or more depending on your overall credit history. With prices so high, it’s easy to get behind on your monthly payments, putting yourself at risk of a repossession. What Is a Repossession?

Repossession 59

Repossession Lender Collateral Loans 59

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.

Repossession 98

Repossession Loans Collections 98

Jimerson Firm

NOVEMBER 23, 2020

When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. The decision and justification for abandoning the collateral, including the basis for the Recoverable Value estimate, must be documented in the loan file. Liquidation Methods. 679.609(2)(b), Fla.

Collateral 98

Collateral Loans Secured Creditor Lender 98

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. Are you behind on car payments? Now’s the time to act.

Repossession 52

Repossession Chapter 13 bankruptcy Bankruptcy Creditors 52

Jimerson Firm

NOVEMBER 11, 2020

Conducting site visits are an important aspect of servicing SBA loans. a bankruptcy filing, business shutdown, or foreclosure by a prior lienholder) that caused the loan to be classified in liquidation status or sooner if the collateral could be removed, lost, or dissipated. SOP 50 57 2 ; SOP 50 55. How to Prepare for a Site Visit.

Collateral 98

Collateral Loans Lender Repossession 98

Credit Corp

MARCH 7, 2021

Everything is online these days—including personal loans. Online lenders make it easy to compare rates and terms and find the right online personal loan for your situation. Personal loans were the fastest-growing category of consumer debt in 2019 , according to a survey from J.D. What is an online personal loan?

Personal loans 98

Personal loans Loans Collateral Lender 98

Troutman Sanders

NOVEMBER 18, 2022

On November 17, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment on its proposal to develop a new data set to better monitor the auto loan market. Because student loans are largely administered by the federal government, we know more about them too.

Collections 98

Collections Lender Student loans Student Loans 98

Roths Child Law

MAY 11, 2021

Unfortunately, it also means that the car, truck, van or SUV that you drive to your job every day is also collateral for the loan used to purchase it. . When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work?

Repossession 52

Repossession Lender Collateral Bankruptcy 52

Account Recovery

AUGUST 19, 2024

For the second time, the Missouri Court of Appeals has denied a motion to compel arbitration filed by a debt buyer seeking to discharge a Fair Debt Collection Practices Act suit, ruling that the plaintiff has not done enough to support the chain of assignments that led to its ownership of the account.

Repossession 130

Repossession Fair Debt Collection Loans Collections 130

Account Recovery

AUGUST 19, 2024

For the second time, the Missouri Court of Appeals has denied a motion to compel arbitration filed by a debt buyer seeking to discharge a Fair Debt Collection Practices Act suit, ruling that the plaintiff has not done enough to support the chain of assignments that led to its ownership of the account.

Repossession 130

Repossession Fair Debt Collection Loans Collections 130

Roths Child Law

AUGUST 2, 2024

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. Instead, they may rush the collection process or convince you not to declare bankruptcy, which may worsen your situation.

Creditors 98

Creditors Bankruptcy Repossession Collateral 98

Roths Child Law

MAY 11, 2021

Unfortunately, it also means that the car, truck, van or SUV that you drive to your job every day is also collateral for the loan used to purchase it. . When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work?

Repossession 40

Repossession Lender Collateral Bankruptcy 40

Credit Corp

JANUARY 5, 2021

For example, if you borrowed $12,000 for a personal loan and only paid back $6,000, you still received the original $12,000. Not paying back the other half of the loan means you got the benefit of that money without paying for it. The IRS considers that to be income in many cases. Why Did You Get a 1099-C Form? Check Your Credit Score.

Repossession 105

Repossession Bankruptcy Foreclosure Creditors 105

Roths Child Law

FEBRUARY 19, 2021

Put an end to creditor collection activities. Typically, you’ll receive a stay of debt collection activities as soon as a judge receives your bankruptcy petition. Once the stay goes into effect, creditors are no longer able to call, write letters or file lawsuits in an effort to collect a past-due balance.

Bankruptcy 94

Bankruptcy Chapter 7 bankruptcy Repossession Garnishment 94

Sawin & Shea

JANUARY 18, 2024

As you think about filing bankruptcy, it’s crucial to understand the interaction between Chapter 13 and car loans. Bankruptcy can impact various aspects of your financial life, including existing car loans. How Does Chapter 13 Bankruptcy and Auto Loans Work? What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Loans Bankruptcy Repossession 52

Sawin & Shea

SEPTEMBER 14, 2022

Some examples of consumer debt include: Personal credit card debt Store financing Home mortgages Rental furniture Personal lines of credit and bank loans Vehicle leases, which can include cars, planes, boats, and more Cosmetic-based medical debt Family or personal legal fees. Are Student Loans Consumer or Non-Consumer Debts?

Chapter 7 bankruptcy 122

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Student loans 122

Debt Free Colorado

MARCH 23, 2020

Dealing with Credit Card, Medical, and Student Loan Debts. Collection Lawsuits. Vehicle Repossessions. How to Defend Collection Lawsuits. Surviving Debt tells you what c onsumers need to know about: Stopping Debt Harassment. Which Debts to Pay First. Essential Information about Credit Reports.

Student loans 83

Student loans Student Loans Repossession Lawyers 83

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?

Repossession 83

Repossession Student loans Student Loans Lender 83

Sawin & Shea

FEBRUARY 28, 2024

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 suits your financial situation.

Personal loans 52

Personal loans Bankruptcy Chapter 13 bankruptcy Loans 52

Debt Free Colorado

FEBRUARY 24, 2025

Secured debt, like financed electronics or furniture, may require repayment or repossession. This paperwork starts your Chapter 7 case and pauses most collection efforts against you. This means you are no longer legally responsible for them, and creditors cant try to collect from you. What Is Bankruptcy Chapter 7?

Credit Card Debt 52

Credit Card Debt Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy 52

Roths Child Law

SEPTEMBER 21, 2023

Understanding the automatic stay's role in bankruptcy The automatic stay is a temporary order that halts actions by creditors to collect debts from the person who has declared bankruptcy. It prevents any form of harassment, foreclosure and nearly all other collection actions.

Debtor 96

Debtor Creditors Bankruptcy Repossession 96

Better Credit Blog

FEBRUARY 15, 2021

Are collections accounts weighing heavily on your credit report? If you’ve fallen behind on any of your accounts, you could find Fairway Collections on your credit report. As long as the collections entry stays on your report, it’s hurting your score. About Fairway Collections. Self-pay collections.

Collections 74

Collections Collection Agencies Collections Agency Debt collector 74

Credit Corp

AUGUST 23, 2021

It’s a common scenario: You apply for a personal loan or credit card and get denied. The reason seems shrouded in mystery, and you receive a letter with language such as “lack of recent installment loan information” or “proportion of balances to credit limits.” 8 Common Reasons You Were Denied Credit.

Lender 104

Lender Loans Personal loans Trade 104

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

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. Lets take a closer look at how to remove repossessions from your report. Table of contents: Step 1: Understand What Repossession is Step 2. Review Your Credit Report Step 3.

Repossession 52

Repossession Debt settlement Lender Credit Bureau 52

Better Credit Blog

APRIL 1, 2022

It’s smart to know how to remove negative items from your credit report, especially if you are soon to be applying for a mortgage or car loan. Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. Collection). Date opened. High Balance.

Bankruptcy 114

Bankruptcy Collections Agency Collection Agencies Foreclosure 114

Troutman Sanders

FEBRUARY 29, 2024

Comments on the Consumer Financial Protection Bureau’s (CFPB or Bureau) proposal to collect data from auto finance businesses that acquire or originate as few as 500 financing transactions a year are due by March 25, 2024.

Repossession 52

Repossession Lender Loans Collections 52

Troutman Sanders

FEBRUARY 24, 2023

According to the CFPB, the nine targeted lenders represent a cross-section of the auto finance market and the data collected in response to these orders will help the CFPB build a data set that provides them with insight into lending channels and loan performance. 5511(c)(3) and not as a supervisory order or civil investigative demand.

Lender 52

Lender Repossession Loans Collections 52

Credit Corp

MAY 3, 2021

Can a Creditor Collect after Issuing a 1099-C? The credit card company has filed a lawsuit or otherwise notified you about the collections activity. The bank repossesses the car, but you still owe $20,000 on it. Can a Creditor Collect After Issuing a 1099-C? A creditor cannot continue to collect after it issues a 1099-C.

Repossession 94

Repossession Bankruptcy Creditors Unsecured Debt 94

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. What Happens After You File Chapter 7 Bankruptcy? Additionally, your creditors will not be allowed to contact you.

Chapter 7 bankruptcy 81

Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 81

Collection Industry News

FEBRUARY 21, 2022

million to Massachusetts to resolve allegations that it did not provide proper explanations about its auto loan debt collection practices to consumers, the state attorney general’s office said Friday. The information is important for consumers trying to determine how to best respond to a lender’s collection efforts, the office said.

Lender 40

Lender Repossession Collections Loans 40

Fico Collections

JULY 12, 2021

Loans, grants, and job protection schemes provided by governments around the world during the past 18 months have eased the financial burden of the pandemic, for both businesses and their consumers. Lenders have benefitted from state measures which have so far helped limit near-term loan defaults. Digital-First Collections.

Collections 52

Collections Lender Repossession Banks 52

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

Credit Corp

AUGUST 25, 2020

You can be denied military enlistment if you’re in financial trouble, such as if you have a number of collections in your credit history. This makes it harder for someone to pretend to be you and apply for a loan or credit card. Repossession and foreclosure. Special credit card or loan offers. Here are just a few.

Repossession 81

Repossession Loans Judgment Law Firms 81

Debt Free Colorado

DECEMBER 9, 2021

Unlike Chapter 7, Chapter 13 bankruptcy enables you to decrease the interest rate on your vehicle loan and, in certain situations, the total amount owed. Chapter 7 will not assist you if your primary source of debt is a mortgage, auto loan, or other kinds of debt. Your budget determines your monthly payment.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75