Account Recovery

FEBRUARY 16, 2022

The Department of Education has announced it will suspend the seizure of tax refunds, Social Security payments, and other government payments to collect on defaulted student loans through November.

Student loans 246

Student loans Student Loans Loans Education 246

Account Recovery

MARCH 31, 2021

Expands Moratorium on Collection of Defaulted Student Loans appeared first on AccountsRecovery.net.

Student loans 214

Student loans Student Loans Loans Education 214

Account Recovery

JULY 9, 2021

The Attorney General’s office of Colorado will be holding a virtual meeting next week to discuss components of a new student loan servicing and collection law and draft rules that it has issued which are open to feedback from interested stakeholders. The meeting will take place on Wednesday, July 14 at 10am MT via Zoom.

Student loans 246

Student loans Student Loans Loans Collections 246

Account Recovery

FEBRUARY 9, 2021

Student Loan Collection Overhaul Being Considered appeared first on AccountsRecovery.net. The bill … The post Proposed Colo.

Student loans 204

Student loans Student Loans Loans Collections 204

Account Recovery

FEBRUARY 17, 2021

STUDENT LOAN COLLECTION BILL INTRODUCED IN COLORADO Legislators in Colorado are moving forward with a bill aimed at overhauling student loan collection in the state, which, if enacted would create several conflicts with the Colorado Fair Debt Collection Practices Act for debt collectors.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

OCTOBER 19, 2021

The Department of Education is considering proposals that would give borrowers “new flexibility” like initial grace periods when its moratorium on student loan payments ends on January 31, according to a published report.

Student loans 245

Student loans Student Loans Loans Education 245

Account Recovery

OCTOBER 1, 2022

The Consumer Financial Protection Bureau yesterday published a special edition of its Supervisory Highlights, spotlighting the student loan servicing and collection markets and pointing out some of the issues it has uncovered when examining companies in that market. A copy of the report can be accessed by clicking here.

Student loans 245

Student loans Student Loans Loans Collections 245

Account Recovery

JANUARY 14, 2022

A deal was announced yesterday between student loan servicer Navient and 39 state attorneys general that will see the company pay $145 million in restitution and cancel $1.7 billion in delinquent private student loans to settle claims it took advantage of individuals when servicing and collecting on their student loans.

Student loans 240

Student loans Student Loans Loans Collections 240

Account Recovery

NOVEMBER 15, 2021

Less than five months after it announced it was exiting the student loan servicing business, the Pennsylvania Higher Education Assistance Agency — more commonly known as PHEAA — disclosed on Thursday that it had reached an agreement with the Education Department to extend its contract for one year to allow more time to transition students (..)

Student loans 246

Student loans Student Loans Loans Education 246

Account Recovery

OCTOBER 18, 2021

Hands Out Student Loan Contracts to Six Companies, Toughens Contract Terms appeared first on AccountsRecovery.net. The … The post Ed.

Student loans 246

Student loans Student Loans Loans Education 246

Account Recovery

AUGUST 10, 2021

million in fines and penalties against a student loan debt relief company that was accused of collecting illegal advance fees that are prohibited under federal law. in Fines and Refunds to Student Loan Debt Relief Provider appeared first on AccountsRecovery.net. DFPI Assesses $1.4M

Student loans 246

Student loans Student Loans Loans Collections 246

Account Recovery

DECEMBER 10, 2021

As the clock continues to count down toward the restart of individuals having to make payments on their student loans, lawmakers are pulling out all the stops to keep that from crippling the financial situations of millions of borrowers as the country deals with record inflation and a rising number of COVID-19 cases across the … The post Lawmakers (..)

Student loans 242

Student loans Student Loans Loans Collections 242

Account Recovery

MAY 18, 2022

A study that has been published in the American Journal of Preventive Medicine gives companies in the accounts receivable management industry that collect on student loan debt another arrow in their quiver to convince individuals to pay off their debts — if you don’t do it, you have a higher risk of being diagnosed with … The post (..)

Student loans 245

Student loans Student Loans Loans Accounts Receivables Management 245

Account Recovery

AUGUST 23, 2023

The Federal Trade Commission on Monday announced it had sued and obtained a temporary restraining order against a number of corporate and individual defendants accused of pretending to be affiliated with the Department of Education so that they could market student loan forgiveness programs that made false promises and collected millions in illegal (..)

Student loans 246

Student loans Student Loans Loans Education 246

Account Recovery

APRIL 7, 2022

As expected, the federal government yesterday announced that it was extending the moratorium on making student loan payments for an additional four months — to August 31 — but added in an extra wrinkle that will impact those in the accounts receivable management industry: The 7 million borrowers who are in default on their student … (..)

Student loans 245

Student loans Student Loans Loans Accounts Receivables Management 245

Account Recovery

JANUARY 17, 2025

The Consumer Financial Protection Bureau yesterday announced a settlement with the National Collegiate Student Loan Trusts (NCSLTs) to resolve allegations of defective debt collection practices. If approved by the court, the stipulated judgment will require the NCSLTs to provide $2.25

Student loans 130

Student loans Student Loans Collections Loans 130

Account Recovery

AUGUST 12, 2020

Individuals with student loans who are living in neighborhoods that are primarily made up of Black and Latinos are twice as likely to have their debt in collections as those living in neighborhoods that are primarily made up of white individuals, according to research that has been published by the New York City Department of … The post Student (..)

Student loans 230

Student loans Student Loans Loans Collections 230

Account Recovery

JULY 8, 2021

To Rescind Guidance and Make it Easier to Investigate Student Loan Collectors appeared first on AccountsRecovery.net. The letter was written by … The post State Regulators Ask Ed. The letter was written by … The post State Regulators Ask Ed.

Student loans 246

Student loans Student Loans Loans Collection Agencies 246

Account Recovery

DECEMBER 10, 2024

a debt collection agency accused of delaying student loan rehabilitations to increase fees. Performants practices, which cost individual borrowers thousands of dollars, have resulted in a $700,000 penalty and a ban on the company from servicing or collecting any student loan debt. Learn more.

Student Loans 130

Student Loans Student loans Loans Collection Agencies 130

Account Recovery

JANUARY 11, 2023

Judge Dismisses FDCPA Class Action; DoE Announces Student Loan Repayment Proposal first appeared on AccountsRecovery.net. Judge Dismisses FDCPA Class Action; DoE Announces Student Loan Repayment Proposal first appeared on AccountsRecovery.net. The post Daily Digest – January 11.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

NOVEMBER 29, 2024

A California Appeals Court has reversed a lower court’s ruling in favor of a collection law firm and debt collection operation that were sued for violating the Fair Debt Collection Practices Act (FDCPA), ruling that the public interest exception to the state’s anti-SLAPP law applies to the case.

Law Firms 130

Law Firms Student loans Student Loans Collections 130

Account Recovery

FEBRUARY 9, 2021

BEDARD BREAKS DOWN RULE’S PROVISIONS RELATED TO LOCATION INFORMATION In issuing its debt collection rule, the Consumer Financial Protection Bureau had the opportunity to update a rule that had been left largely untouched since it went into effect more than 40 years ago.

Student loans 230

Student loans Student Loans Loans Collections 230

Account Recovery

APRIL 4, 2022

APPEALS COURT OVERTURNS $350K DAMAGES AWARD AGAINST COLLECTOR The Court of Appeals for the Seventh Circuit on Friday reversed a jury award of $350,000 against a collector in a Fair Debt Collection Practices Act case over the collection of a time-barred debt, ruling the plaintiff lacked standing.

Student loans 245

Student loans Student Loans Loans Fair Debt Collection 245

Account Recovery

FEBRUARY 9, 2021

A bill is moving through the legislature in Ohio that would halt the collection of all debts owed to any state college or university and any hospital operated by a college or university while also pausing the accrual of interest and collection fees on those debts. The bill was introduced by Rep.

Student loans 189

Student loans Student Loans Healthcare Loans 189

Account Recovery

JANUARY 8, 2021

NEW GUIDE OFFERS INSIGHTS INTO COMPLYING WITH CFPB’S DEBT COLLECTION RULE I am excited to announce the launch of a new section of AccountsRecovery.net, which aims to help the ARM industry better understand the Consumer Financial Protection Bureau’s debt collection rule and to help make the decisions and changes needed to comply with it.

Student loans 227

Student loans Student Loans Loans Collections 227

Account Recovery

NOVEMBER 11, 2022

Class-Action Over Not Using MVN; Judge Blocks Student Loan Debt Cancellation appeared first on AccountsRecovery.net.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

NOVEMBER 25, 2024

While income gains outpaced inflation for many, especially younger generations, rising debt — particularly credit card and student loans — continues to weigh heavily on households across the country. Understanding these consumer behaviors and trends is crucial for collections professionals looking to assess repayment potential.

Student loans 147

Student loans Student Loans Credit Card Debt Loans 147

Account Recovery

DECEMBER 10, 2021

Judge Denies MTD in FDCPA, TCPA Class Action; Lawmakers Making Waves Over Student Loans appeared first on AccountsRecovery.net.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

OCTOBER 19, 2021

Judge Grants MTD in FDCPA Hunstein Case; Report Shares Details of Student Loan Restart Proposals appeared first on AccountsRecovery.net.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

OCTOBER 18, 2021

Hands Out Student Loan Contracts appeared first on AccountsRecovery.net. Judge Remands FDCPA Case Back to State Court; Ed.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

AUGUST 9, 2021

UTAH JUDGE GRANTS MTD IN FDCPA CASE OVER LACK OF LICENSE A District Court judge in Utah has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class action case, ruling that it did not need a license to collect in that state in order to file collection lawsuits against the two … The post Daily Digest – August 9.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

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.

Student loans 147

Student loans Student Loans Loans Collections 147

Account Recovery

OCTOBER 11, 2021

Creates Student Loan Enforcement Unit appeared first on AccountsRecovery.net. Judge Awards Plaintiff $70k in Damages, Fees; Ed.

Student loans 240

Student loans Student Loans Loans Fair Debt Collection 240

Account Recovery

AUGUST 10, 2021

MDNC Judge Grants MTD in FDCPA Class Action; DFPI Fines Student Loan Debt Relief Company $1.4M appeared first on AccountsRecovery.net.

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

SEPTEMBER 14, 2022

JUDGE DISMISSES FDCPA CASE FOR LACK OVER ALLEGEDLY RUDE & HARASSING INTERACTIONS FOR LACK OF STANDING The plaintiff accused the defendant of employing “good cop, bad cop” in attempting to collect on a debt and then withdrawing funds from her account prior to her giving final authorization to do so.

Student loans 246

Student loans Student Loans Loans Collections 246

Account Recovery

AUGUST 27, 2021

in Student Loans Canceled appeared first on AccountsRecovery.net. Judge Grants MTD on All Counts But One in FDCPA Class Action; $1.1B

Student loans 246

Student loans Student Loans Loans Fair Debt Collection 246

Account Recovery

OCTOBER 17, 2022

MVN NOT A REQUIREMENT UNDER REG F, JUDGE RULES In a case where a collection agency has sued its client for allegedly breaching their contract, a federal judge has granted a motion to remand the case back to state court, ruling the Model Validation Notice is not a requirement to be used under Regulation F.

Student loans 246

Student loans Student Loans Loans Collection Agencies 246