Consumer Financial Services Law

OCTOBER 12, 2016

The Eleventh Circuit recently joined the First and Eighth Circuits in concluding that the FDCPA’s venue provision does not apply to post-judgment garnishment proceedings. Post judgment, the law firm filed a garnishment proceeding against the consumer’s bank seeking to collect on the judgment. 1692i(a)(2). Ray, CITE. “[A]s

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Credit Corp

NOVEMBER 9, 2020

It does not come into play for creditors collecting their own debts. The name of the original creditor to whom the debt is owed. The law: Collectors can’t threaten a lawsuit, criminal prosecution, wage garnishment, jail time, or a poor credit rating unless they have the legal authority to do so and intend to do so.

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Sawin & Shea

JUNE 9, 2021

The FTC (Federal Trade Commission) is an arm of the United States government that enforces consumer protection and antitrust laws. Approximately one third of consumers with a credit bureau file were contacted by at least one creditor or debt collector each year, according to a CFPB (Consumer Financial Protection Bureau) survey.

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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. This is known as wage garnishment.

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Troutman Sanders

APRIL 27, 2023

Noting a rise in credit card delinquencies, the Consumer Financial Protection Bureau (CFPB or Bureau) released a new blog post analyzing civil judgments, the final recourse for creditors to collect on unsecured debt. Civil judgments are governed by state law. Bankruptcy is primarily used by people with assets.

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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. Debt settlement companies, also sometimes called “debt relief” or “debt adjusting,” are companies that claim to renegotiate, settle, or in some way change the terms of your debt to a creditor or debt collector.

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Troutman Sanders

DECEMBER 8, 2022

The Act has been touted as a way to protect Arizonans with medical debt from bankruptcy and set new exemption limits on property subject to debt collection and decreased the portion of a judgment debtor’s income that is subject to garnishment. The plaintiffs, led by the Arizona Creditors Bar Association Inc.,

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

NOVEMBER 24, 2021

Many people worry that bankruptcy will simply delay the inevitable, such as a lawsuit, wage garnishment, or a foreclosure, and that their creditors will still come after them. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

JANUARY 18, 2023

You’ll also need to supply the bankruptcy court with a list of creditors, an income statement, and copies of your tax records. 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.

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Jimerson Firm

NOVEMBER 8, 2023

Judgment creditors are often faced with the question of how to collect an out-of-state judgment (also commonly referred to as a foreign judgment) in Florida. Once the foreign judgment is domesticated, the judgment creditor may pursue post-judgment collections efforts in Florida. 55.501, Fla. Notice of registration of foreign judgment.

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Debt Free Colorado

APRIL 9, 2020

Below you’ll find some strategies for working with your creditors and deciding which bills are the most important if you can’t pay them all. Reach out to your creditors. The decisions regarding which creditors get paid and which do not can have long term consequences and will require a strategy. Triage your finances.

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Debt Free Colorado

DECEMBER 9, 2021

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. The United States Bankruptcy Code governs both chapter 7 and chapter 13 bankruptcy. Creditors are prohibited from contacting you after your petition is filed.

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Sawin & Shea

SEPTEMBER 28, 2022

You worry about creditors and wonder if you will be able to stay in your home and keep your car. For example, if you have been having your wages garnished to pay back a persistent creditor, your employer would be aware that this is no longer necessary since you are in the process of Chapter 7 or Chapter 13 bankruptcy.

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FFGN COLLECT NY

JANUARY 10, 2024

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. The government will look to stop these exploitative tactics and more. In New York, retirement income from Social Security and other sources are exempt from garnishment.

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Credit Corp

MARCH 8, 2023

Creditors, such as banks and credit card companies, report account information to one, two or three of the credit bureaus. Tax Liens If you go for a period of time without paying your taxes or making arrangements with the IRS to do so, the federal government may issue a tax lien. This is true for state tax debt too.

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Taurus Collect

FEBRUARY 27, 2023

This usually happens after you’ve received multiple warnings from your creditor. At this point, you may be subject to legal action, including wage garnishment or seizure of property. This judgment could lead to wage garnishment, liens on your property or require bank account attachment. Read on to learn more.

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PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. by the existence of a separate provision, §542, that expressly governs the turnover of estate property.”

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Collection Industry News

MARCH 7, 2022

While California courts have been requiring 10 percent interest on unpaid debt, that is on top of the interest creditors charge. Also, research shows more than other groups, communities of color are burdened by debt collections and related wage garnishments and asset seizures.

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Roths Child Law

DECEMBER 20, 2022

Your employer (private or government) cannot refer to your decision to file bankruptcy as the sole reason for terminating or changing your employment terms. However, if your creditor sued and obtained a wage garnishment judgment against you, then your employer will be made aware and required to cooperate. .

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Collection Industry News

MARCH 17, 2024

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. The government will look to stop these exploitative tactics and more. In New York, retirement income from Social Security and other sources are exempt from garnishment.

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Sawin & Shea

MARCH 27, 2024

This bankruptcy protection will prohibit a collection agency or another creditor from recovering debt or taking action against you. The bankruptcy trustee will oversee the process of liquidating non-exempt assets to repay your creditors, and they will organize a 341 meeting, also known as the Meeting of Creditors.

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Sawin & Shea

JULY 19, 2023

Under Chapter 7, most people can keep their home and car, if desired, and receive automatic court protection from creditors. Chapter 7 bankruptcy also stops lawsuits and wage garnishments. Like Chapter 7, it stops lawsuits and garnishments. Chapter 13 can help people keep assets that might be at risk in a Chapter 7.

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Taurus Collect

MAY 11, 2023

Overview of The Credit Card Debt Collection Process Credit card debt collection can be a stressful experience for both the debtor and the creditor. The creditor then hires a debt collection agency to start the collection process. If the debtor still refuses to pay, the creditor may file a lawsuit and take the debtor to court.

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Sawin & Shea

JUNE 28, 2023

Repaying an ‘insider’ in the 12 months before declaring bankruptcy allows a bankruptcy trustee to reverse these payments as they have been given special treatment compared to all the other creditors. Plus, nonpayment of these charges can result in a judgment that garnishes your wages and bank accounts.

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Sawin & Shea

APRIL 3, 2024

It is against the law for an employer to fire you on the basis of your bankruptcy, and this includes both government and private employers. For example, if your salary payments were garnished to repay creditors, your bankruptcy will halt the garnishment.

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Taurus Collect

JANUARY 23, 2023

Secondly, during tax season, many creditors will offer incentives and discounts to encourage individuals to repay their debt. Lastly, creditors may be more willing to negotiate payment plans and lower interest rates during tax season due to increased competition among lenders and increased consumer confidence levels.

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Debt Free Colorado

NOVEMBER 13, 2017

government agency that makes sure banks, lenders, and other financial companies treat you fairly”, Freedom Debt Relief’s offers actually were too-good-to-be-true. Freedom does not make clear to consumers that they may need to handle the negotiations with those creditors themselves.

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Sawin & Shea

JUNE 21, 2023

The Chapter 13 repayment plan consolidates your existing debts into a three to five-year plan to pay back your creditors, and initiating the process offers immediate protections, including an automatic stay, and allows you to keep all of your possessions. Filing for Chapter 13 bankruptcy can help you improve your financial situation.

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Debt Free Colorado

MARCH 3, 2023

Are My Creditors capable of appealing My Bankruptcy? Chapter 7 bankruptcy Given its straightforward and simple nature, Chapter 7 is sometimes referred to as straight bankruptcy since it involves selling the debtor’s assets, and splitting the money among creditors. What Can’t Bankruptcy Do? What Debts are Discharged in Bankruptcy?

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Troutman Sanders

NOVEMBER 2, 2020

State Activities: On October 30, Virginia Governor Ralph Northam signed House Bill 568, which automatically exempts emergency relief payments, as defined in the bill, from the creditor process, including garnishments and liens. ” To read more about Cannataci’s annual report, click here.

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Better Credit Blog

APRIL 1, 2022

If you’re unable to pay your original creditor, your debt may pass to a debt recovery agency, earning a collection letter and possibly a stain on your credit report. This means that you’re not dealing with the initial creditor. They cannot send letters with the appearance of an official government or court letter.

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Troutman Sanders

AUGUST 9, 2021

On August 3, Federal Reserve Board announced that it will extend the comment period for its proposal to govern funds transfers over the Federal Reserve Banks’ FedNow Service until September 9. On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022.

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Troutman Sanders

JULY 27, 2020

3841, a bill that protects the stimulus funds under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) from being garnished by judgement creditors and debt collectors, similar to how Social Security payments are exempt from being garnished. On July 23, 2020, the Senate unanimously passed S.

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Debt Free Colorado

DECEMBER 7, 2016

Lawsuits, garnishments, foreclosures, and other collections stop at this time. 341 Meeting of Creditors – About a month after your case is filed. Certain taxes, student loans, child or spousal support, fees owed the government, and other debts aren’t affected.

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Better Credit Blog

AUGUST 31, 2020

The law does not pertain to the initial creditor or provider. Threatening to garnish wages without a court order. That means they can’t falsely represent themselves as police officers, government agents, lawyers, or representatives of credit bureaus. This includes: Using profane language. Publishing your debts to the public.

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Taurus Collect

AUGUST 15, 2023

Here’s how: Knowledge of Regulations: Debt collection is a field governed by a multitude of regulations. This is a detailed document outlining the debtor’s amount owed, the creditor’s name, and what action the debtor can take if they believe the debt isn’t theirs.

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