FFGN COLLECT NY

NOVEMBER 12, 2021

For example, the initial fee for an index number in the supreme court is $210 whereas it is $45 for commercial claims and $140 for consumer credit transactions in civil court. Take for example New York Civil (Manhattan), where creditors who waited nine months for judgments pre-pandemic now find themselves with an 18-24 month wait.

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Debt Free Colorado

JUNE 18, 2024

Know How to Stop Creditor Harassment & Wage Garnishment Debt can be a heavy burden. Creditor harassment is any aggressive or threatening communication from a debt collector. Wage garnishment is a legal procedure where a creditor obtains a court order to withhold part of your earnings from your paycheck to repay a debt.

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FFGN COLLECT NY

MAY 17, 2023

Legislative changes affecting consumer collections for consumer credit transactions recovery went into effect in 2022 largely as a result of the Consumer Credit Fairness Act (CCFA). As a result, the law specifies documents required to file a consumer debt collection case in New York.

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Better Credit Blog

DECEMBER 29, 2020

If you have begun receiving calls from a company called Wilshire Consumer Credit, you are probably feeling overwhelmed by their advances. We can help you remove their collection account from your credit report. We can help you remove their collection account from your credit report. About Wilshire Consumer Credit.

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Credit Corp

JANUARY 21, 2021

A few of the laws that might come into play are as follows: The Fair Credit Report Act ensures your right to an accurate consumer credit profile. It obligates companies to report truthful information on your credit report. The Truth in Lending Act is part of the Consumer Credit Protection Act.

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FFGN COLLECT NY

JUNE 30, 2021

Today, you have six years to collect monies owed from consumer credit transactions. However, a bill approved by the New York Senate seeks to shorten the time to collect consumer credit transactions to three years. Can you get an extension on the time to collect consumer credit transactions?

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Debt Free Colorado

FEBRUARY 21, 2022

The Fair Debt Collection Practices Act (FDCPA) applies to collection firms and debt collectors attempting to recover consumer debts. Consumer debts include credit card debts, vehicle loans, medical costs, and school loans. What is Colorado Uniform Consumer Credit Code (Colorado UCCC).

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Troutman Sanders

NOVEMBER 16, 2021

On November 8, New York Governor Kathy Hochul signed into law the Consumer Credit Fairness Act (Act) (Legislation S.153/A.2382). The Act also requires the plaintiff in a debt collection action to provide a completed “additional notice of lawsuit” to the clerk when filing the proof of service for the complaint.

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FFGN COLLECT NY

JULY 20, 2021

After New York Governor Andrew Cuomo signs the Consumer Credit Fairness Act (S.153/Thomas) 153/Thomas) into law, many creditors will need to provide significant documentation in order to file a debt collection action against their non-paying consumers. We have the experience that pays.

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Troutman Sanders

NOVEMBER 14, 2023

On November 13, the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board (Fed) announced increased dollar thresholds used to determine whether certain consumer credit and lease transactions in 2024 are exempt from Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing).

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Credit Corp

DECEMBER 14, 2020

So credit repair, consumer credit and credit bureaus—they’re all tied together. To understand why they’re so important, you might want to learn a bit more about the history of credit scores and repair. Luckily, we’ve compiled everything you need to know about the history of the credit repair industry.

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Credit Corp

JUNE 3, 2020

The company, creditor or collection agency has legal ways to pursue payment. The court enters a judgment against you if your creditor wins their claim or you fail to show up to court. The judgment creditor can then use that court judgment to try to collect money from you. One of those options is to sue you. These laws vary.

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Troutman Sanders

MAY 26, 2021

On March 18, the West Virginia legislature passed Senate Bill 5 , amending the West Virginia Consumer Credit and Protection Act (WVCCPA). The amendments provide more clarity to creditors and debt collectors, as well as tools to avoid litigation.

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Credit Corp

JUNE 8, 2023

The bureaus collect and store your credit information in your credit file for future reference. The three national credit reporting agencies don’t share information with each other and not all lenders or creditors report to each. Learn more about how to dispute an error on your credit reports.

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FFGN COLLECT NY

MARCH 15, 2022

The order expired a few years ago and now, probably due to the overwhelming number of lawsuits being filed against consumers for delinquent accounts, six senators have renewed the inquiry into Chase’s collection activities. Do your due diligence, especially if your company files a large volume of lawsuits.

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Credit Corp

SEPTEMBER 27, 2023

Below are two instances where you’ll see THD/CBNA show up on your credit report. You Applied for One of The Home Depot Credit Cards There are a few retail credit cards offered by The Home Depot: The Home Depot Consumer Credit Card, The Home Depot Commercial Revolving Charge Card, and The Home Depot Commercial Account.

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Account Recovery

AUGUST 19, 2024

Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. What do they mean and how are they to be used in a consumers’ credit report? Bill Banning Social Media Debt Collection Passes N.Y. More details here.

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Account Recovery

AUGUST 19, 2024

Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. What do they mean and how are they to be used in a consumers’ credit report? Bill Banning Social Media Debt Collection Passes N.Y. More details here.

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Account Recovery

SEPTEMBER 30, 2024

The consumer credit card agreement included an arbitration clause that gave the consumer the opportunity to opt out, and she never did. At risk here was a class-action jury trial.

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Better Credit Blog

MAY 12, 2022

When you owe money to a credit card company, public utility, or bank, or any other creditor, you could be sued in civil court. And, after ordering you to repay the money, a judge could approve wage garnishment which means the court would take part of your paycheck and give it to the creditor before you even see the money!

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Credit Corp

MAY 30, 2023

That means judgment creditors can seek debt payment from more than your wages and bank accounts. Creditors must follow the law when applying a judgment to take, or seize, your property. Your creditor can take or leverage these possessions in the following ways: Wage attachments. What Property Can Be Taken to Settle a Judgment?

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Collection Industry News

DECEMBER 14, 2021

New York recently enacted Senate Bill (SB) 153 , the Consumer Credit Fairness Act, significantly impacting debt collection lawsuits filed by creditors or debt collectors. Complaints must include the name of the original creditor, the date and amount of last payment and the last four digits of the account number.

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FFGN COLLECT NY

JANUARY 6, 2023

Prohibiting a creditor from entering or enforcing a medical judgment by placing a lien against a debtor’s primary residence.

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Better Credit Blog

JANUARY 20, 2022

The firm’s flagship service involves negotiating with creditors to reduce what you owe in exchange for paying off a certain amount as a lump sum. Negotiate with your creditors to reach settlements and reduce your total debt. Instead, as payment, it takes a cut of the final settlement amount it negotiates with your creditors.

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The Kaplan Group

OCTOBER 19, 2020

You may also be responsible for paying the costs of the creditor hiring a collection agency or legal costs. Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. One of the clauses in a contract might be about interest and collection costs.

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Taurus Collect

SEPTEMBER 2, 2024

Let’s understand the strategies that promote a positive experience for both the debtor and the creditor, leading to stronger relationships and better outcomes. Ethical practices not only elevate the art of debt recovery but also ensure that both debtors and creditors can work harmoniously towards a resolution.

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Troutman Sanders

MARCH 28, 2023

The state laws reviewed by the CFPB concern protections for businesses to ensure they can understand the credit terms available to them. This is beyond the scope of the [TILA’s] statutory consumer credit purposes.

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Debt Guru

JANUARY 27, 2021

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. One of the conditions for lowering your interest rate and waiving penalty fees is that you lose access to the affected credit cards.

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FFGN COLLECT NY

JUNE 11, 2020

Back in 2013, we reported the New York State General Assembly’s passage of the Consumer Credit Fairness Act , which introduced new requirements for debt collection litigation against consumers. There are certain actions that will extend (or toll) the statute of limitations thereby giving the creditor additional time to sue.

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Troutman Sanders

SEPTEMBER 7, 2023

et al , the lawsuit arose out of an unpaid consumer credit account with a bank. The bank sold the debt to the defendant creditor. The creditor then placed the account with the defendant law firm for collection. In Choice v. Kohn Law Firm, S.C.

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Troutman Sanders

DECEMBER 6, 2023

TILA] and its implementing Regulation Z, which generally applies to extensions of consumer credit and provides that a finance charge ‘includes any charge payable directly or indirectly by the consumer and imposed directly or indirectly by the creditor as an incident to or a condition of the extension of credit,’ with certain limited exceptions.”

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Loans Creditors Lender Consumer Credit 52

FFGN COLLECT NY

MAY 17, 2023

Legislative changes affecting consumer collections for tuition recovery went into effect in 2022 largely as a result of the Consumer Credit Fairness Act (CCFA). As a result, the law specifies documents required to file a consumer debt collection case in New York. Instead, you can list them as zero balance.

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Titan Consulting

MAY 3, 2020

All three for-profit credit reporting agencies, Experian, Equifax and Transunion compile and report consumer credit and debt payment activity and sell this consumer information to lenders seeking to grant credit. Which credit bureau is the most important? Key Takeaways. About Titan Consulting Group.

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FFGN COLLECT NY

MAY 24, 2022

If worded correctly, an affidavit of confession of judgment will allow a creditor to enter judgment without further notice and/or without the necessity of providing any evidence or proof of the debt or default in order for the clerk of the court to enter judgment. The law is applicable in commercial and consumer arenas.

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FFGN COLLECT NY

JULY 12, 2024

Proposed changes regarding the removal and reporting of medical debt may lead you to change how you do business if you rely on credit reports when deciding whether to grant credit, In June, the Consumer Financial Protection Bureau (CFPB) proposed some major changes related to the reporting of medical debt and consumer credit reports.

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True Accord

APRIL 5, 2023

But with inflation and economic stressors persisting into the new year, many consumers are conflicted on their financial outlook and spending behavior is hard to predict. Consumers trying to make ends meet have continued turning to credit cards and other credit types to bridge the income to expense gap.

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CSA

NOVEMBER 29, 2019

Take, for example, the statutory, written communication between a creditor (or debt purchaser) and the customer, required to be sent under the Consumer Credit Act. Failure to do so could render the creditor or debt purchaser non-compliant, and the debt unenforceable. These formal communications ? business as usual?

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