Collection Industry News

NOVEMBER 25, 2024

The company’s collectors call consumers out of the blue and threaten them with arrest, wage garnishment, and lawsuits if they don’t pay a supposed debt. The Federal Trade Commission works to promote competition and protect and educate consumers. The case will be decided by the court.

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Credit Corp

JULY 30, 2020

Wage garnishments for defaulted student loans were also paused. It’s important to note that the CARES Act mandated all of these changes, but the Department of Education and others couldn’t roll them out overnight. Some borrowers saw continued garnishment of wages , automatic loan payments, or the taking of tax returns.

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits. While debt collectors can be persistent, the Fair Debt Collection Practices Act (FDCPA) was in place to stop collector harassment, and it’s good to stay educated about what debt collectors can and can’t do.

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Titan Consulting

JUNE 7, 2020

Benefits include the following: Suspension of Monthly Payments : The US Department of Education automatically suspended payments on outstanding federal student loans. Payment relief includes both direct and FFEL (Federal Family Education Loans) loans and lasts through September 30, 2020. About Titan Consulting Group.

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Collection Industry News

NOVEMBER 8, 2021

About the author: Sarah Sattelmeyer is the project director for education, opportunity, and mobility in the higher education initiative at New America. But additional, important vehicles for higher education-related reforms are moving forward beyond the headlines (and often behind the scenes). Dreamstime.

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Student Loans Student loans Education Garnishment 52

Roths Child Law

APRIL 10, 2023

For this reason, any person declaring bankruptcy (Chapter 7 or Chapter 13), must sign up for a pre-bankruptcy credit counseling and debt education program before their petition can be approved. While credit counseling happens before formally filing for bankruptcy, debtor education happens after filing but before your debts can be discharged.

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The Kaplan Group

OCTOBER 19, 2020

Instead, I suggest you do what you can to educate yourself about your options. Garnishment. Garnishment is when a creditor takes part of your paycheck or money from your bank account to collect money you owe on a judgment. Garnishments generally require a court order. FDCPA ( Fair Debt Collection Practices Act).

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PDC Flow

FEBRUARY 27, 2025

Education: Educate your employees. Are you going to garnish my wages? In this case, how can a baiter cause your agents to violate the rules? Implementing Controls: Put in place the controls and corrective actions that can prevent a call baiting situation from happening within your agency. How will my credit be affected?

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Credit Corp

MAY 30, 2023

This is known as wage garnishment. The Consumer Credit Protection Act caps these types of garnishments. Nonwage garnishment. If you’re retired, unemployed, or self-employed, your bank account may be garnished instead. Veterans payments, social security, and disability benefits are not eligible for nonwage garnishment.

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FFGN COLLECT NY

NOVEMBER 30, 2022

The new New York law signed last week bans wage garnishments on judgments resulting from medical debts and prohibits entering or enforcing liens on homes for medical bills. Although this is still allowed, we should expect further legislation in the state to further limit, or disallow, any recovery on consumer debt.

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Troutman Sanders

SEPTEMBER 19, 2022

the plaintiff defaulted on his student loan payment, and the account was sold to Educational Credit Management Corporation (ECMC), a federal student loan guarantee agency, which then contracted with Pioneer Credit Recovery, Inc. In Tavernaro v. Pioneer Credit Recovery, Inc. , Pioneer) to help collect the debt.

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Credit Management Company

MAY 17, 2022

Effective financial communication and patient financial education starts before the medical procedure begins. Provide education about out-of-pocket obligations. The report was updated in 2020. In this post, we'll cover some of those best practices. Maintain Effective Communications. Contract with a Trustworthy Debt Collection Provider.

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FFGN COLLECT NY

JANUARY 6, 2023

Putting an end to the use of wage garnishments (income executions) in New York to collect medical judgments. Initially, the law first prohibited withholding transcripts for SUNY and CUNY students but expanded to include all higher education institutions. Decreasing the legal rate of interest on consumer claims from 9% to 2%.

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National Service Bureau

JULY 30, 2015

Federal loans come from the United States national government and are controlled by the Department of Education, while non-federal loans may come from a variety of sources to include state or local governments, the school itself, or a private organization of some sort. Other circumstances can be found on the Department of Education website.

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Collection Industry News

JULY 20, 2020

The Education Department is suspending collections on federal student loans and urging private collection agencies to stop pursuing borrowers. The educational motivations of public-minded debt collectors notwithstanding, consumer advocates aren’t convinced. The momentum has reached the federal government.

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FFGN COLLECT NY

JUNE 24, 2022

If you are wondering if you will be affected as a medical provider, you can search the definition as it relates to hospitals organized by the Public Health Law and healthcare professionals authorized under Title 8 of the education law. Lien on Property.

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National Service Bureau

DECEMBER 15, 2015

The United States Department of Education (ED) recently announced two additional regulations (designated REPAYE or Revised Pay As You Earn) which are intended to ease the burden of federal student loan repayment. The intent is to smooth the loan repayment process in order to get from a condition of default to regular repayment.

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Collection Industry News

APRIL 11, 2022

Lockert : “Though student loans originally were created as part of the National Defense Act, there was this idea that we need to become an educated society and so we can create student loans as part of that. Johnson created the Higher Education Act of student loans in 1965 to make it more accessible to everyone. Later on, Lyndon B.

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Credit Corp

OCTOBER 31, 2021

This program was designed to encourage people to enter the education field. Falling behind on your payments can hurt your credit and may even lead to wage garnishment. Some are state-specific and others are federal programs, so check your eligibility requirements in your specific location and field. Teacher Loan Forgiveness Program.

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Troutman Sanders

MARCH 22, 2021

Department of Education announced that about 72,000 student loan borrowers, who were defrauded by their schools, will receive student loan forgiveness that could total $1 billion. On March 17, Virginia Attorney General Mark Herring announced a new law preventing garnishment or seizure of economic support payments. On March 18, the U.S.

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Financial services Garnishment Student Loans Student loans 52

Sawin & Shea

JANUARY 25, 2022

These remedies can include garnishing your wages and bank accounts and seizing and selling your non-exempt personal property. If the unsecured debt is a federal student loan, the Department of Education can garnish up to 15% of your disposable income without filing a lawsuit.

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Debt Free Colorado

DECEMBER 7, 2016

Lawsuits, garnishments, foreclosures, and other collections stop at this time. Take your Debtor Education Course – Within 45 days of the 341 Meeting. Debts Discharged – No sooner than 60 days after your 341 meeting, but not until the debtor education certificate is filed and court filing fees are paid.

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Collection Industry News

MARCH 2, 2021

Democratic senators have reintroduced legislation to prevent health care providers from actions such as wage garnishment in connection with medical debts. wage garnishment, bank account seizure) during the covered period (i.e. wage garnishment, bank account seizure) during the covered period (i.e. Chris Van Hollen, D-Md.,

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Sawin & Shea

APRIL 26, 2023

If the creditor has your date of birth and social security number, they may be able to garnish your bank account and apply that money toward your debt balance. This allows them to take possession of your real estate holdings, personal property, or business. Judgment Liens in the Hoosier State In Indiana, judgment liens last for 10 years.

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Payment Savvy

NOVEMBER 30, 2021

Lost or garnished wages. Several associations, such as the ACA International , have a wide array of educational resources surrounding Regulation F. In some cases, a court’s rulings may call for debt collectors to make the following payments: Statutory damages of up to $1,000. Attorneys’ fees. What is Regulation F?

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Consumer Financial Services Law

OCTOBER 16, 2017

11 2017), the debtor, Berry, defaulted on student loans he had taken out with the US Department of Education. Key to the court’s decision was a review of the policies and procedures implemented and followed by Van Ru representatives during live telephone calls with consumers.

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Taurus Collect

MARCH 5, 2024

Creditors may take legal action to recover the debt, which might result in wage garnishment or a lien against your property. Small business owners who are not proactive in addressing collector calls can find themselves in a quagmire. Legal Actions: Ignoring debt collectors can potentially lead to lawsuits.

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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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Collection Industry News

FEBRUARY 15, 2021

Consumer risks included delays in processing suspensions of administrative wage garnishments, potential FDCPA compliance risks associated with new bank attachments or wage garnishments, and delays in payment processing.

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Sawin & Shea

JUNE 21, 2023

Removal of your automatic stay protection : You’ll no longer have protection from your creditors, potentially leaving you vulnerable to wage garnishment, debt collection lawsuits, repossessions, and foreclosures. That said, filers cannot discharge all of their debts through Chapter 13.

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Taurus Collect

JANUARY 24, 2023

This involves filing a lawsuit against you, which could lead to wage garnishment – where part of your wages are automatically withheld each month until your debts are paid off – or even jail time in extreme cases where fraud is involved.

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Debt Free Colorado

NOVEMBER 13, 2017

Providers cannot stop collection activity, including collection calls, wage garnishment, judgments, and litigation. Plans may negatively affect your credit score and ability to obtain credit.

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Troutman Sanders

AUGUST 9, 2021

On August 5, the Department of Education announced that it is extending the moratorium on federal student loan payments through January 31, 2022. On August 2, the Supreme Court of the State of New Mexico ordered the gradual lifting of the stay of writs of garnishment and execution in consumer debt collection cases.

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Troutman Sanders

MAY 23, 2023

State Activities: On May 19, the Massachusetts Division of Banks and Educational Computer Systems, Inc. The bill also establishes the procedures a depository institution must follow upon receipt of a writ of garnishment or other levy or attachment under certain circumstances. For more information, click here.

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Troutman Sanders

NOVEMBER 13, 2023

On November 9, the Department of Education (DOE) announced its plan to implement an oversight strategy of federal student loan servicers that provides several pathways for identifying problems that can harm borrowers, in real-time. For more information, click here.

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Better Credit Blog

AUGUST 17, 2020

If a debt collector attempts to garnish your wages or bring a lawsuit against you, they’ll have your back, too. These complaints should not be an issue if you educate yourself on your rights under the Fair Debt Collection Practices Act. They’ll also handle the basics, disputing claims, and negotiating pay-for-delete agreements for you.

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Better Credit Blog

JANUARY 26, 2022

As an IRS-approved continuing-education provider, it offers further learning programs to its tax professionals. The company is an IRS-approved continuing-education provider licensed to practice in all 50 states. Community Tax is accredited by Consumer Affairs, has an A+ rating with the BBB, and offers a 14-day money-back guarantee.

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