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New Laws Proposed, Passed, and Ready to Go Into Effect

Account Recovery

Gretchen Whitmer, introduces substantial changes to how creditors can collect debts and what assets debtors can protect. Supporters, including Representative Kara Hope, argue these updates are necessary to prevent financial devastation while allowing debtors to maintain basic living standards and continue paying their daily expenses.

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Dealing with Debt Collectors

Debt Free Colorado

What can debtor collectors do to you under the FDCPA: Contact other people to find out where you live, your current telephone number, or where you work, but they can’t contact anyone more than once or tell anyone you owe a debt. What is Colorado Uniform Consumer Credit Code (Colorado UCCC). Repeatedly call you.

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You’re in Debt: 9 Terms to Know

The Kaplan Group

You can learn more about FDCPA in our advice to consumer debtors. Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. Garnishment. Garnishments generally require a court order. Default Provisions. Statute of Limitations.

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How New York State’s 2024 Plan Will Affect Debt Collection

FFGN COLLECT NY

Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. In New York, retirement income from Social Security and other sources are exempt from garnishment. Over 700,000 New Yorkers have medical debt.

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How New York State’s 2024 Plan Will Affect Debt Collection

Collection Industry News

Hochul made it clear that the state will assist consumers in New York by adding greater consumer protections—a plan that will affect creditors and debtors alike. In New York, retirement income from Social Security and other sources are exempt from garnishment. Over 700,000 New Yorkers have medical debt.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Another revision makes it mandatory for hospitals seeking to garnish a patient’s wages or bank accounts to include with the summons and complaint initiating such action an “affidavit of expert review” making various certifications.

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Monthly Accounts Receivables Roundup for March 2021

Katabat

The story notes: “But as more people are vaccinated and the country sees a return to normal life on the horizon, payments on trillions of dollars of those debts could resume soon, even if debtors remain out of work or in financial distress because of the economic crisis the outbreak wrought.”.