Collection Industry News

AUGUST 17, 2023

Overarching trends from the report’s summary include: Housing Debt There was $393 billion in newly originated mortgage debt in Q2 2023 reflecting a modest increase in purchase originations as refinance originations have slowed. New foreclosures have stayed very low since even since the CARES Act moratorium was lifted.

Credit Card Debt 40

Credit Card Debt Student loans Student Loans Foreclosure 40

Sawin & Shea

SEPTEMBER 14, 2022

What is Consumer Debt? Consumer debt refers to an individual, family, or household’s debts incurred through personal spending and expenses. With consumer debts, co-debtors receive the protection of an automatic stay.

Chapter 7 bankruptcy 122

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Student loans 122

Debt Free Colorado

DECEMBER 9, 2021

Without having to repay it later, you may immediately begin rebuilding your credit. . If you have a large amount of credit card debt or high medical costs that you can’t pay, Chapter 7 may allow you to start again. Chapter 7 is a disaster when it comes to secured debt. . The Majority of Unsecured Debts.

Chapter 13 bankruptcy 75

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Debt Guru

JULY 19, 2020

You might be tempted to use your substantial home equity to consolidate debt. Because your home’s equity is backing the loan, you could face foreclosure if something catastrophic prevents you from affording the payments in the future. Depending on the lender, you may even be able to combine other types of debt.

Debt Consolidation 104

Debt Consolidation Unsecured Debt Collateral Personal loans 104

Sawin & Shea

AUGUST 24, 2020

Whether or not you file for bankruptcy also depends on the kind of debt you have. 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.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debt collector 98

Troutman Sanders

MARCH 1, 2023

A lender must enforce the debt through foreclosure or a lawsuit within six years after the cause of action accrues. The Arizona Court of Appeals and Arizona Supreme Court have issued numerous opinions over the last several years clarifying when a cause of action accrues for mortgages and credit card debt.

Foreclosure 52

Foreclosure Credit Card Debt Lender Financial Institution 52

Titan Consulting

JULY 22, 2020

Banks, worried about an impending recession and a rise in foreclosures, are taking steps to lower lending risks. Common measures include lowering credit card limits , canceling credit cards, pausing HELOC applications, and increasing lending requirements. Bank Lending Policies.

Foreclosure 75

Foreclosure Bankruptcy Loans Banks 75

True Accord

AUGUST 11, 2022

Providing consistent outreach—especially in early delinquency—will give customers more opportunities to engage, understand, and resolve debt. Debt levels are on the rise again: according to the? New York Federal Reserve , between the national student loan debt topping $1.6

Acquisition 65

Acquisition Debt Recovery Education Student loans 65

Credit Corp

MARCH 22, 2021

More importantly, will my existing debts impact my credit score in a new country? From renting a house to applying for credit cards, credit score plays a major role in availing basic amenities in a new country. I was worried if my credit score and credit card debts back home would hurt my credit score abroad.

Lender 94

Lender Loans Creditors Credit Card Debt 94

Collection Industry News

JUNE 29, 2024

Consumer debt continues to accelerate at an alarming rate—particularly credit card debt—driven by a culture of consumption. Credit card debt is one of the most worrisome due to the high interest rates charged by credit card companies, which can leave consumers with never-ending debt loads.

Credit Card Debt 40

Credit Card Debt Student loans Student Loans Lender 40

Sawin & Shea

JANUARY 24, 2024

At the end of the plan, any unpaid balances on the qualifying debts are discharged. The Pros Bankruptcy can stop foreclosures , repossessions, lawsuits, wage garnishment, utility shut-offs, and debt collection activities through its automatic stay provision. It simplifies finances with just one payment versus many debts.

Debt Consolidation 52

Debt Consolidation Bankruptcy Chapter 13 bankruptcy Collateral 52

Sawin & Shea

AUGUST 4, 2021

For the lender, it’s all about the bottom line, and if they think they can get more money from a foreclosure, they won’t agree to a short sale. How does a short sale affect my credit? Both short sales and bankruptcies involving foreclosures will show up as negative hits on your credit report. Is it better than bankruptcy?

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Foreclosure Lender 52

Debt Free Colorado

JUNE 18, 2024

This is to satisfy a debt you owe. This applies to unpaid debts such as: Unsecured debts: These are debts not tied to a specific asset, like credit card debt, medical bills, or personal loans. This includes credit card debt, medical bills, personal loans, and certain finance company charges.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Creditors Garnishment Unsecured Debt 52

Titan Consulting

AUGUST 23, 2020

Protect secured debt (home and car) from default to avoid a repossession or foreclosure. Negotiate unsecured debt (credit cards) if you are unable to keep up with payments. We work with consumers seeking debt consolidation loans, or who may be considering options like debt negotiation or bankruptcy.

Chapter 13 bankruptcy 86

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Sawin & Shea

AUGUST 2, 2023

Some people may be overwhelmed with credit card debt, especially those who spend more than 20% of their annual net income on credit card bills, have maxed out limits on several cards, and/or can only afford to pay the minimum on credit card bills.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Albuquerque Law

MAY 5, 2020

This is partly what causes military families to hold more debt than civilian families , with roughly 27% of military service members holding nearly $10,000 in credit card debt. Meanwhile, only 16% of civilians hold that much debt.

Repossession 40

Repossession Bankruptcy Credit Card Debt Garnishment 40

Credit Corp

MAY 1, 2021

My Debt-Free Life Started Late in My Adult Life. After buckling down for about seven years, my wife and I were able to pay off our home mortgage, vehicle loans, credit card debt , recover from a prior-foreclosure, and set us up to retire with over a million dollars in my employer-sponsored retirement fund.

Credit Card Debt 75

Credit Card Debt Accrued Interest Loans Student loans 75

Sawin & Shea

JUNE 7, 2023

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Personal loans 52

Roths Child Law

MARCH 12, 2021

It’s possible to exclude debt discharged in the Home Affordable Modification Program or through foreclosure in some cases. What can you do about forgiven debts in other forms? Finally, you can sometimes exclude loan modifications.

Credit Card Debt 40

Credit Card Debt Foreclosure Loans Bankruptcy 40

Credit Corp

MAY 3, 2023

Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. That can take three to five years. It’s a powerful protection.

Chapter 13 bankruptcy 97

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Creditors 97

Troutman Sanders

OCTOBER 4, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. In reviewing the market for potential consumer harm, the report presents the latest research on consumer card use, cost, and availability.

Financial services 52

Financial services Financial Institution Foreclosure Student loans 52

Titan Consulting

SEPTEMBER 2, 2020

Most debt consolidation involves unsecured debts such as credit card bills, payday loans, personal loans, or medical debts. Is debt consolidation risky? Converting unsecured debt to secured debt could put collateral, such as your home, at risk of foreclosure.

Debt Consolidation 60

Debt Consolidation Unsecured Debt Consolidate Debt Personal loans 60

Better Credit Blog

FEBRUARY 4, 2021

DFS primarily collects on healthcare debt, as well as: Commercial debt. Credit card debt. Utility debt. If you are overwhelmed by dealing with negative entries on your credit report, we suggest you ask a professional credit repair company for help. Foreclosures. Phoenix, Arizona 85053.

Financial services 69

Financial services Debt collector Collection Agencies Collections Agency 69

Sawin & Shea

NOVEMBER 15, 2023

It distinguishes between what are called ‘secured’ and ‘unsecured’ debts, which are terms you need to know before filing for bankruptcy. And possibly the most common question people ask is credit card debt is secured or unsecured. Secured vs Unsecured Debt: What’s the Difference? What is the difference?

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Titan Consulting

APRIL 26, 2020

Suspending rent payments die to COVID-19 may put you at risk for foreclosure if you can’t make up your deferred payments all at once. We work with consumers seeking debt consolidation loans, or who may be considering options like debt negotiation or bankruptcy. Delayed payments are not forgiven payments.

Student loans 52

Student loans Student Loans Lender Loans 52

Credit Corp

SEPTEMBER 12, 2023

Derogatory remarks: These remarks refer to negative items on your credit report. They include auto repossessions or foreclosures. Paying off debts shows your fiscal responsibility and proves your finances are on an upward trajectory. Paying off any kind of debt can improve your score.

Bankruptcy 93

Bankruptcy Lender Student loans Student Loans 93

Sawin & Shea

MARCH 20, 2024

If you’re worried about garnishments, foreclosures , lawsuits, repossessions , or other consequences of your debt, connect with an experienced bankruptcy lawyer at Sawin & Shea as soon as possible. Choosing the right solution is a big step that could affect your life for years to come. You deserve a fresh start.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Lawyers 52

Debt Free Colorado

DECEMBER 23, 2024

Unsecured Debts in Chapter 7 Bankruptcy In Chapter 7 bankruptcy , most unsecured debts can be wiped away completely. This type of bankruptcy often eliminates credit card debt, medical bills, and personal loans. Chapter 7 bankruptcy remains on credit reports for 10 years.

Unsecured Debt 52

Unsecured Debt Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy 52

Sawin & Shea

MAY 2, 2024

Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. Dischargeable debts are those that can be eliminated through bankruptcy.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Sawin & Shea

SEPTEMBER 20, 2023

Some of the most common reasons that people file for Chapter 7 bankruptcy include debt collection lawsuits, sudden loss of income, medical bills, overwhelming credit card debt, and separation or divorce. From July 2020 to June 2021, there were 15,719 bankruptcies filed in Indiana.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Credit Corp

MAY 1, 2024

Balance errors: A creditor may report the wrong balance or the wrong credit limit, which affects your credit utilization ratio. Utilization measures how much revolving debt (typically this is credit card debt) you have compared to your total credit limit.

Law Firms 52

Law Firms Creditors Credit Bureau Loans 52

Collection Industry News

SEPTEMBER 23, 2020

We can answer all your questions regarding Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, stopping a foreclosure or wage garnishment, avoiding liens, stopping law suits, discharging medical debt, personal loans, payday loans, credit card debt, etc. We can alleviate your stress! We want to help and we can help you!

Collections 40

Collections Debt collector Chapter 13 bankruptcy Chapter 7 bankruptcy 40

Better Credit Blog

AUGUST 9, 2021

Payoff – Best For Paying Off Credit Card Debt. Payoff specializes in debt consolidation loans that can help you pay off credit card debt, and will even send direct payment to your creditors. Cons: Potentially high origination fee. $10 10 late payment fee. Fairly high interest rates.

Debt Consolidation 52

Debt Consolidation Loans Lender Personal loans 52

Better Credit Blog

AUGUST 9, 2021

Payoff – Best For Paying Off Credit Card Debt. Payoff specializes in debt consolidation loans that can help you pay off credit card debt, and will even send direct payment to your creditors. Cons: Potentially high origination fee. $10 10 late payment fee. Fairly high interest rates.

Debt Consolidation 52

Debt Consolidation Loans Lender Personal loans 52

Sawin & Shea

MARCH 13, 2024

A Chapter 13 is a great way to help people get caught up on secured debt that they are behind on. We can help people re-organize secured debt in various ways to help people stop repossessions or foreclosure and get back on track with payments to keep those items.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

Troutman Sanders

MAY 9, 2023

On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. The FTC charged the defendants with taking tens of millions of dollars from people by falsely promising to eliminate or substantially reduce their credit card debt.

Financial services 52

Financial services Student loans Student Loans Loans 52

Credit Corp

JULY 31, 2024

Components of an Employer Credit Check When a prospective employer checks your credit, they don’t see your official credit score. If you have $50,000 in credit card debt, however, a prospective employer may hesitate to hire you. For example, it’s perfectly fine to have a mortgage with a $200,000 balance.

Government 52

Government Credit Card Debt Foreclosure Loans 52