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Debt collector Foreclosure Loans 
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.
Consumer Financial Services Law
MAY 10, 2017
A recent decision from a Louisiana district court should provide some comfort to banks and other financial institutions who acquire other entities by merger – at least in the Fifth Circuit, they are not debt collectors. As most know, Bank of America (BoA) acquired Countrywide Bank FSB and its mortgage portfolio in 2008. In Jackson v.
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Credit Corp
FEBRUARY 28, 2021
At the same time, missed rent payments and increased debt-to-credit ratios have produced a credit-ratings crunch across the board. COVID-19 loans for bad credit are on the rise—but do they deliver, or do they make things even worse? Debt collectors and your stimulus check : Most—but not all debts—won’t affect your stimulus check.
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Jimerson Firm
DECEMBER 14, 2021
To better understand the Fair Debt Collection Practices Act, I’ve broken it down into three discernable parts: 1) Elements of a cause of action under the FDCPA. The FDCPA prohibits debt collectors from making false or misleading representations and from engaging in various abusive and unfair practices. 3d 1175, 1205 (M.D.
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Better Credit Blog
APRIL 1, 2022
It’s smart to know how to remove negative items from your credit report, especially if you are soon to be applying for a mortgage or car loan. Whatever you’re dealing with, late payments, collections, charge-offs, or foreclosures, the following techniques can clean up your credit quickly. Foreclosures. Ads by Money. Charge Offs.
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Troutman Sanders
JULY 14, 2021
In July 2017, Carrington Mortgage Services LLC (Carrington) became the servicer of plaintiff David Heinz’s mortgage loan. At the time Carrington became the mortgage servicer, Heinz’s loan was already in default and a foreclosure sale was scheduled for the first of the following month.
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Burr Forman
MAY 20, 2021
Prohibiting servicers of private education loans from reporting an adverse item of information relating to the nonpayment of the loan for an established period of time.
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Credit Corp
JUNE 14, 2023
Charge-Offs: Seven Years Accounts you didn’t pay, like a charged-off credit card or installment loan balance, can stay on your credit report for seven years from the date the debt was charged off. A charge-off is when the creditor officially writes your debt off its books as a loss.
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Collection Industry News
APRIL 30, 2023
On April 26, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion reminding the industry that a debt collector who brings or threatens to bring a foreclosure action to collect a time-barred mortgage debt may violate the Fair Debt Collection Practices Act (FDCPA).
Collection Industry News
MAY 2, 2023
. – Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations. The prohibition applies even if the debt collector does not know that the debt is time barred.
Better Credit Blog
FEBRUARY 15, 2021
Though you may be unfamiliar with Fairway, the agency collects on a wide range of consumer debts, including the following: Health insurance billing and follow-up. Education loans, tuition, fines and fees. Mortgages and loans. This law ensures that debt collectors treat consumers ethically and report accurately.
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Better Credit Blog
NOVEMBER 17, 2020
It can show up on your report as a hard inquiry when you apply for a credit card or a loan from a popular bank. Along with providing savings and CD accounts, Barclays offers personal loans by invitation in partnership with other companies. Any time you apply for a credit card or a loan, you can expect a hard credit check.
Collection Industry News
MAY 18, 2021
While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans. The bill, H.R.
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Troutman Sanders
OCTOBER 19, 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. On October 4, the CFPB announced that the deadline to request initial forbearance for loans backed by the U.S.
FDCPA Defense
SEPTEMBER 22, 2018
These seemingly simple questions have divided the circuit courts, and they may soon be resolved by the United States Supreme Court when it decides a case that arose out of a nonjudicial foreclosure proceeding in Colorado. It prohibits debt collectors from engaging in a broad range of unfair and misleading debt collection practices.
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Collection Industry News
MARCH 15, 2021
The DFPI is aggressively exercising its new authority to regulate a large group of newly covered financial services, including debt collectors, credit reporting and credit repair agencies, debt relief agencies and others. Consumers can reach the DFPI at (866) 275-2677 or Ask.DFPI@dfpi.ca.gov.
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Troutman Sanders
APRIL 26, 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. million home that alleged a fraudulent transfer by the operator of a debt-collection scheme. For more information, click here.
Debt Free Colorado
JUNE 18, 2024
Quick Summary: Chapter 7 bankruptcy allows individuals to discharge most unsecured debts. 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.
Troutman Sanders
MARCH 22, 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. As of March 18, the department intends to issue full loan discharges for borrowers with approved borrower defense claims.
Better Credit Blog
MARCH 1, 2021
A collections account could result from unpaid fees, an overdrawn account, a credit card balance, or a defaulted loan. Third-party collections agencies may also purchase your debts from institutions like BOA for pennies on the dollar. Debt collectors can send you letters and call and leave messages when debt reaches collections.
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Better Credit Blog
MARCH 1, 2021
A collections account could result from unpaid fees, an overdrawn account, a credit card balance, or a defaulted loan. Third-party collections agencies may also purchase your debts from institutions like BOA for pennies on the dollar. Debt collectors can send you letters and call and leave messages when debt reaches collections.
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Better Credit Blog
NOVEMBER 23, 2020
Using the strategies outlined below, you can say goodbye to debt collectors and get your score back on track. or FMS Corp, is a third-party debt collection agency headquartered in Tulsa, Oklahoma. Commercial debt. Selling them the debt for pennies on the dollar. What Is FMS Inc.? Telecommunications. or after 9 p.m.
Better Credit Blog
AUGUST 7, 2020
Whether you’re in the market for a mortgage, auto loan, or credit card, your application can result in a hard inquiry on your credit report, which can damage your credit score for years. Synchrony offers several financial products, from CDs, MMAs, and IRAs to credit cards and loans through partnerships with other lenders. Foreclosure.
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Better Credit Blog
FEBRUARY 5, 2021
As long as it’s there, a collections account can lower your credit score and hold you back from getting approved for credit cards, loans, jobs, and leases. You should also read up on the Fair Debt Collection Practices Act. This act was written to protect consumers from abusive debt collection practices and to ensure accurate reporting.
Collection Industry News
JULY 12, 2022
The appeal arose from a lawsuit brought by two Florida homeowners (“Debtors”) against their home loan servicer (“Servicer”) for alleged violations of the FDCPA and Florida’s Consumer Collection Practices Act. After defaulting on their home loan, a foreclosure suit was instituted. to be paid in one year. to be paid in one year.
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Sawin & Shea
NOVEMBER 15, 2023
If a debt is unsecured, no collateral is put up as a guarantee to pay. Unsecured Debt What is unsecured debt? However, it is important to note that before bankruptcy is declared, lenders can still come after you to get you to pay off the unsecured debt. This is what is called a “surrender” under bankruptcy law.
Better Credit Blog
SEPTEMBER 4, 2020
If you have forgotten to pay a bill, you may begin to hear from a debt collector called TrueAccord. Not only are debt collectors annoying but having one like TrueAccord on your credit report can let other lenders know that you tend to be late on payments. You may find that you don’t even have to pay the debt at all.
Troutman Sanders
SEPTEMBER 27, 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. On September 21, the U.S. For more information, click here. For more information, click here. For more information, click here.
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. Bankruptcy filers with income below their state’s median can potentially qualify for Chapter 7 to discharge many debts.
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Better Credit Blog
FEBRUARY 24, 2021
They have been collecting on consumer debt since it was founded in 1983. Some third-party debt collectors buy debts for pennies on the dollar. But FNCB is hired by businesses to collect on debts. Fortunately, you have rights under the Fair Debt Collection Practices Act. Foreclosure. Retail cards.
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Troutman Sanders
MARCH 29, 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. On March 22, the CFPB released the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA).
Collection Industry News
SEPTEMBER 23, 2020
However, over the past several years, the civil courts in most states have been overrun by debt collection cases against consumers. The increase in lawsuits filed against consumers for unpaid medical debt, credit card bills, automobile loans and other collection issues comes as no surprise to attorneys and others working in the industry.
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Better Credit Blog
AUGUST 21, 2020
If you have a 560 credit score, your approval odds for loans are low, and your credit rating is pretty poor. Can You Get a Loan Approval with a 560 Credit Score? Debt collections. Foreclosures. The issues above can hinder your access to both revolving lines of credit and installment loans. Bankruptcy.
FDCPA Defense
FEBRUARY 3, 2019
1992) (emphasis added, citation and quotation marks omitted) (personal loan from friend used to start software business not a “debt” under the Act: “Neither the lender's motives nor the fashion in which the loan is memorialized are dispositive of this inquiry.”). Litton Loan Serv. Federal Home Loan Mortg.
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FDCPA Defense
FEBRUARY 1, 2018
Determining the line between foreclosure activity and debt collection, however, can be elusive. 17- 278) was whether notices sent by a trustee as required to initiate a non-judicial foreclosure under California law violated the FDCPA. California law does not allow for a deficiency judgment following non-judicial foreclosure.
Better Credit Blog
FEBRUARY 24, 2021
They have been collecting on consumer debt since it was founded in 1983. Some third-party debt collectors buy debts for pennies on the dollar. But FNCB is hired by businesses to collect on debts. Fortunately, you have rights under the Fair Debt Collection Practices Act. Foreclosure. Retail cards.
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Better Credit Blog
JANUARY 15, 2021
As such, it may show up on your credit report as a hard inquiry when you apply for a loan, credit card, or line of credit. When your credit report is accessed in the application process for a loan, a hard inquiry is placed on your credit report. Debt recovery. Installment loans. Get pre-approved for a loan.
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Debt Free Colorado
MARCH 3, 2023
For instance, it may permit the restructuring of debts due to “secured” creditors, or creditors who have an interest in assets like a mortgage or a car loan, but it typically won’t abolish those debts. However, how can you tell if your debt issue calls for such a drastic measure?
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Better Credit Blog
DECEMBER 2, 2020
Is your credit score suffering because of debt in collections? Debt collectors can add stress to your everyday routine, calling constantly, sending letters, and even worse, damaging your credit. Atlantic is a part of Encore Capital, a large corporation that purchases consumer debts from a long list of industries.
Better Credit Blog
NOVEMBER 25, 2020
Debt collectors. Foreclosure. When you use a free credit monitoring service to check your score or get a few quotes for a mortgage or auto loan, your credit report undergoes a soft inquiry. A hard inquiry, on the other hand, happens when you actually apply for a loan or a credit card. Charge offs. Payment history.
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Troutman Sanders
MAY 9, 2023
On May 1, the CFPB proposed a rule to implement a congressional mandate to establish consumer protections for residential property assessed clean energy (PACE) loans. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.
Better Credit Blog
JANUARY 29, 2021
Soft inquiries happen when you pre-qualify for a credit card or loan, compare quotes, check your score, or get vetted for a job or apartment application. A hard inquiry can be prompted by an application for a credit card or loan, or in some cases a rental application. Debt collectors. Foreclosure. Charge-offs.
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Troutman Sanders
AUGUST 1, 2023
An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. Examiners found that debt collectors continued collection attempts for work-related medical debt after receiving sufficient information to render the debt uncollectible under state worker’s compensation law.
Collections Law
APRIL 1, 2020
In this way, the debtor can’t make any stealthy move to avoid paying for the services or products that you have provided to them on credit or monies that you loaned to them. Asset seizure and mortgage foreclosures : Once the execution is issued, the Law Offices of Alan M. As the assets are seized, they can’t be used or transferred.
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