Troutman Sanders
MAY 5, 2022
The CFPB sees wrongful repossessions everywhere. Per the report, recent examinations found that servicers engaged in unfair acts or practices when they repossessed vehicles after consumers took action that should have prevented the repossession. Failing to trigger refunds of GAP protection after a repossession.
Collection Industry News
MAY 9, 2022
The CFPB sees wrongful repossessions everywhere. Per the report, recent examinations found that servicers engaged in unfair acts or practices when they repossessed vehicles after consumers took action that should have prevented the repossession. Failing to trigger refunds of GAP protection after a repossession.
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Qualco
NOVEMBER 7, 2023
Managing loan portfolios becomes a labyrinth for financial institutions in a financial ecosystem marked by unrelenting complexity and constant change. Consequently, financial institutions operate within an economy marked by contraction and sustained inflationary pressures.
Credit Corp
DECEMBER 3, 2024
When youre late on payments or stop making payments on a loan, the lender can repossess or repo the item youre financing to settle your debt. Lets take a closer look at how to remove repossessions from your report. Table of contents: Step 1: Understand What Repossession is Step 2. Review Your Credit Report Step 3.
Credit Corp
MARCH 7, 2021
Lenders of secured loans can repossess collateral if the loan is not repaid. A bank, credit union, or other financial institution often approves the loan based on creditworthiness of the borrower, their credit history, and their perceived ability to repay. A car might be put up as collateral for an auto loan.
Sawin & Shea
FEBRUARY 28, 2024
If you fail to repay an unsecured personal loan, the lender cannot repossess your assets. When seeking a new personal loan after bankruptcy, use legitimate lenders, such as major financial institutions, credit unions, or through Credit Karma. Nonpayment of title loans can lead to vehicle repossession.
Collection Industry News
MARCH 21, 2022
Already with a heightened interest in vehicle repossessions , the Consumer Financial Protection Bureau (CFPB) announced changes last week to its supervisory operations involving what it deems to be illegal discrimination, including in situations where fair lending laws may not apply. Source: site.
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