Creditworthiness Garnishment Lender 
Account Recovery
SEPTEMBER 25, 2024
The big picture: The three bills signed into law are: SB 1061: Medical Debt Reporting Ban AB 2837: New Requirements for Wage Garnishments and Bank Levies SB 1286: Expansion of Rosenthal Fair Debt Collection Practices Act Zoom in: California becomes the eighth state to pass legislation that prohibits medical debt from either showing up on consumers’ (..)
Debt Free Colorado
FEBRUARY 21, 2022
Lenders, creditors, finance businesses, and payday lenders are all required by the UCCC to inform consumers about the cost of credit so that they can shop around for the cheapest rates. Except for requirements that lenders disclose the cost of credit and provide customers with limited legal remedies if the UCCC is breached.
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Sawin & Shea
JUNE 7, 2023
When a borrower applies for a loan or credit card, the lender will assess their creditworthiness by looking at their income, credit score, and debt-to-income ratio. If the lender is concerned about the borrower’s ability to repay the debt, they may require a co-signer. Considering Filing for Bankruptcy?
Collection Industry News
JUNE 1, 2023
This presents a substantial opportunity for debt collection agencies to assist lenders in recovering unpaid debts and managing default risks. Analyzing vast amounts of data allows agencies to identify trends, assess debtor creditworthiness, and predict repayment probabilities.
Troutman Sanders
JUNE 22, 2021
Federal Activities: On June 18, the Federal Housing Administration (FHA) announced updates to its student loan monthly payment calculations to help provide greater access to affordable single-family FHA-insured mortgage financing for creditworthy individuals with student loan debt, which has a disproportionate impact on people of color.
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