UK debt collections

APRIL 28, 2021

People who are in debt from credit cards, loans and other personal debt sources could be given ‘breathing space’ under new temporary measures the government has announced. During the current pandemic, debt charity Stepchange has warned of a impending “personal debt tsunami” of £6Bn. Personal loans.

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Direct Recovery

AUGUST 1, 2024

Consumer Debt Collection Basics Consumer debt collection describes debts that are owed by individuals, which can include anything from credit card balances and old utility bills to personal loans, medical debt, and mortgages. Should things fail to work out from there, a court judgment is usually the next step.

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Taurus Collect

MAY 4, 2022

Dealing with difficult debtors for debt collection can be challenging and burdensome. While it is reasonable for you to wait for your debtors to have enough funds to pay you, it gradually hampers your business’s growth and productivity in the long run. Most people think that all debt collectors are the same. Skip tracing system.

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Debt Free Colorado

NOVEMBER 28, 2024

Certain debts—such as credit card debt, medical bills, and personal loans—can be discharged. Many personal assets may be exempt. This enables debtors to keep important items while addressing their debts. However, eligibility requires debtors to pass a means test. However, not all debts can be discharged.

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Sawin & Shea

NOVEMBER 15, 2023

In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets. Laws called exemption statutes determine what a person or married couple can keep through the Chapter 7 process. If a debt is unsecured, no collateral is put up as a guarantee to pay.

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Debt Free Colorado

DECEMBER 9, 2021

Chapter 7 bankruptcy is appropriate for unsecured debtors. personal loans, personal loans, delinquent income tax obligations, . It’s a relatively straightforward technique to eliminate the majority of your debt. . Without having to repay it later, you may immediately begin rebuilding your credit. .

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Sawin & Shea

APRIL 10, 2024

With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. In this blog, we discuss what assets and property a debtor may lose in Chapter 7 bankruptcy. Bankruptcy Code requires debtors to complete credit counseling courses 180 days before filing.

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Credits Inc

OCTOBER 26, 2019

Creditors give loans to millions of citizens, and thus credit companies are too busy to follow up on the debtors. Therefore, the agencies act as middlemen collecting any delinquent loans. Debt collection agencies communicate to debtors via calls, letters, or emails. government collection agency.

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Better Credit Blog

DECEMBER 22, 2021

How Debt Consolidation Loans Work. A debt consolidation loan is a personal loan that can be used to pay off all of your debts, so instead of owing money to multiple sources, you will just have to pay back one lender with a monthly payment. That’s because you’ll be able to qualify with more providers at lower rates.”

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Sawin & Shea

SEPTEMBER 27, 2023

Chapter 7 is also known as liquidation bankruptcy because in exchange for receiving a discharge of most kinds of debts, the debtor has to give up non-exempt assets. Debtors have rights and protections under these laws to prevent harassment, false representations, or unfair practices by debt collectors.

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Sawin & Shea

AUGUST 23, 2023

Most Debtors, however keep everything they have. With Chapter 7 bankruptcy, you’ll be able to eliminate most unsecured debts, which includes: Credit card debt Medical debt Personal loans Payday loans Utility bills It’s important to keep in mind, though, that Chapter 7 will not eliminate all kinds of debt.

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Sawin & Shea

APRIL 5, 2023

However, many debtors have questions regarding how filing for bankruptcy impacts child support payments and debts. In this blog, we unpack what happens to child support income and obligations when a debtor files in Indiana. Can You File Bankruptcy on Child Support?

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Sawin & Shea

MAY 2, 2024

If you qualify for Chapter 7 bankruptcy, our attorneys can guide you through the process of eliminating unsecured debts, such as credit card balances, medical expenses, and personal loans, within a matter of months. Bankruptcy law was created to give debtors a true fresh start and pathway to rebuilding wealth.

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Sawin & Shea

MARCH 14, 2023

Indiana allows debtors to exempt assets when filing for bankruptcy up to a certain monetary amount, and that amount recently increased. When filing, you are allowed to exempt a portion of your home’s equity, tangible personal property, and intangible personal property.

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Debt Free Colorado

DECEMBER 23, 2024

Credit cards, medical bills, and personal loans make up most unsecured debt that bankruptcy can eliminate. To qualify for Chapter 7 bankruptcy, debtors must pass a means test that compares their income to their state’s median income. Personal Loans Personal loans are borrowed money that you agree to pay back over time.

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Sawin & Shea

MARCH 7, 2023

This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments. Also, if you have a debt that is a lien against collateral (a car loan, a mortgage loan), the creditor can force a return of that collateral to try and partially satisfy their debt.

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Sawin & Shea

MARCH 13, 2024

A reaffirmation agreement is a document that re-obligates a debtor to repay a particular debt, such as a car loan, mortgage, or other loan type. It basically serves as a legally binding promise that the person filing for bankruptcy will resume making payments in full and on time to the creditor.

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Sawin & Shea

JANUARY 12, 2022

Debt elimination is typically one of the primary reasons a debtor will pursue bankruptcy. The more common types of debts that many debtors hold that cannot be eliminated include: Child Support and Alimony. Student loans can be particularly challenging. A total of 19 categories are listed by the U.S.

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Collection Industry News

JANUARY 22, 2025

For debtors who want to pay their balances down, the best approach is to take matters into their own hands, said Matt Schulz, chief credit analyst at LendingTree. Or they may consider a personal loan to help consolidate their debts for a lower rate.

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Debt Guru

JANUARY 27, 2021

A debt management plan (DMP) is an agreement between a debtor (that’s you, the person in debt) and a creditor (think: your bank or your credit card company) that tackles your outstanding debt. Unsecured debts, such as credit cards, store cards and personal loans, can be part of your DMP.

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Collection Industry News

JUNE 1, 2023

These technologies enable debt collectors to automate repetitive tasks, streamline workflows, analyze data more effectively, and personalize communication with debtors. Analyzing vast amounts of data allows agencies to identify trends, assess debtor creditworthiness, and predict repayment probabilities.

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Credit Corp

MAY 3, 2023

Through the bankruptcy, the debtor restructures and then creates and implements a plan to pay back creditors. You typically can’t apply for most types of credit, including a mortgage, auto loan or significant personal loan, without getting the court’s approval if you’re in the middle of a Chapter 13 bankruptcy, for example.

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The Kaplan Group

JANUARY 7, 2021

The number of new loans originated has also fallen across a variety of debt types, with the most precipitous drop in bank card originations. The economic downturn has not yet translated into elevated delinquency rates for consumer loans.

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Debt Collection Answers

MAY 18, 2023

Caine and Weiner is a prominent debt collection firm that operates across various sectors, gathering debts from a range of industries, including: Personal loans Phone bills Student loans Credit cards To secure his debts, Caine and Weiner acquire them from the original creditors at a reduced price, then pursue the entire amount from the debtor.

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Sawin & Shea

JANUARY 25, 2022

Instead, when a debtor fails to pay, the lender must first file a lawsuit in order to collect what is owed. If an agreement cannot be reached between the debtor and the debt collector, the lender will likely file a lawsuit against you. With unsecured debt, there is no lien or security interest agreed upon. Examples of Unsecured Debts.

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UK debt collections

JANUARY 3, 2023

typical Business borrowing, e.g. overdraft, bank loans, vehicle finance etc. Money invested in the business by directors or others, usually in the form of cash, personal loans, or personal guarantees. For self employed and sole traders, there is no legal separation between personal and business debts.

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Sawin & Shea

AUGUST 2, 2023

Unsecured debt includes things like credit card debt, medical debt, and personal loans. The above descriptions provide a very broad overview of these two types of bankruptcy filings, but debtors should discuss these options at length with a lawyer who has experience in bankruptcy.) When Should I Contact an Attorney?

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Sawin & Shea

APRIL 17, 2024

Common types of dischargeable debt include: Credit card debt Medical debt Judgements Utility bills Back rent Personal loans Repossession balances While Chapter 13 helps you repay certain debts and discharge remaining balances, not all forms of debt are dischargeable.

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Sawin & Shea

APRIL 12, 2023

Unsecured debt includes things like credit card debt, medical debt, and personal loans. In most cases, Chapter 7 rules protect assets that are classified as exempt at the time you file versus unsecured debt which is not protected.

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Credit Corp

SEPTEMBER 12, 2023

When a lender doesn’t receive payments for a line of credit, like a credit card or personal loan, they may choose to eventually sell that credit to a debt collection agency to get some of their money back. FAQ Still have questions about how to remove collections from credit reports? We’ve answered some frequently asked questions below.

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FDCPA Defense

FEBRUARY 1, 2018

One line of cases creates a duty to disclose to the debtor that the amount of the debt may be increasing due to accruing interest, fees or other charges. To avoid confusion to the debtor, the Avila Court held that use of the “safe harbor” language from the Miller case would be sufficient. Riexinger & Associates, LLC , 817 F.3d

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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.”). 2012) (intent of debtor at time of purchase controls).

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FFGN COLLECT NY

JANUARY 31, 2024

The debt came from high-interest personal loans, payday loans, credit cards, and other sources. In 2019, Attorney General James announced a $60 million judgment against debt collection kingpin, Douglas MacKinnon , who engaged debtors using similar deceptive and illegal tactics.

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