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?

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Personal loans 52

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. insufficient loss mitigation processes.

Garnishment 40

Garnishment Student Loans Student loans Loans 40

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. You may access this interactive tool at [link]. Moreover, hospitals must offer payment plans to patients who do not exceed 5% of their income.

Financial services 52

Financial services Fair Debt Collection Foreclosure Lender 52

Sawin & Shea

NOVEMBER 15, 2023

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. They may use collection agencies , or they may sue you (asking the court to garnish wages, take an asset, or put a lien on your home).

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

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. Chapter 13 Chapter 13 bankruptcy offers you protection from creditors and helps stop foreclosures and other creditor collection efforts.

Judgment 52

Judgment Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy 52

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. One of our firm’s key strengths lies in our comprehensive understanding of both Chapter 7 and Chapter 13 bankruptcy options.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Better Credit Blog

APRIL 11, 2022

This section of your credit report tells potential lenders who you are. Soft inquiries occur when you check your own credit score or get a quote from a lender or a pre-approval for a loan. Foreclosure. Garnishments. If the lender confirms the information to be an error, it will be corrected by the credit bureaus.

Creditors 15

Creditors Loans Credit Bureau Lender 15

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.”). These cases arose in the context of non-judicial foreclosures.

Foreclosure 40

Foreclosure Debt collector Law Firms Debtor 40

Debt Free Colorado

MARCH 3, 2023

For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. Are you at risk of falling into foreclosure, being evicted, or having your utilities cut off? Those who are no longer able to pay their debts can, however, start over through a legal process.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Debt RR

DECEMBER 13, 2019

Ignoring a process server can cause the court to garnish wages , place a lien against any property, and freeze any accounts. Distressed homeowners who successfully fought foreclosure lawsuits stemming from the 2010 U.S. foreclosure crisis commonly used this defense. in recent years.

Debt collector 41

Debt collector Debtor Bankruptcy Creditors 41

Debt Free Colorado

DECEMBER 23, 2024

This means the lender can take no property, like a house or car if you do not pay. Instead, lenders rely on your promise to pay back the money. This legal shield blocks creditors from calling you, stops foreclosure sales, prevents wage garnishments , and halts all collection lawsuits. What is Unsecured Debt?

Unsecured Debt 52

Unsecured Debt Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy 52

Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. On August 31, 2020, the state legislature enacted the COVID-19 Tenant Relief Act of 2020.

Financial Institution 52

Financial Institution Garnishment Collections Foreclosure 52

Troutman Sanders

JULY 27, 2023

Payday Lending: Examiners found that some payday lenders engaged in abusive and deceptive acts or practices by including language in loan agreements purporting to prohibit consumers from revoking their consent for the lender to call, text, or e-mail them.

Lender 52

Lender Collections Repossession Retrieval 52

Troutman Sanders

JULY 7, 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. The licensed entities include vehicle finance companies, traditional installment lenders, and mortgage lenders.

Financial services 52

Financial services Financial Institution Student Loans Student loans 52

Troutman Sanders

OCTOBER 26, 2020

On Friday, October 23, Ohio Senate President, Larry Obhof, and Governor Mike DeWine announced the creation of the “Home Relief” program to assist Ohioans facing evictions, foreclosures, and water service shut-offs during the current COVID-19 pandemic. For more information, click here. For more information, click here.

Financial services 52

Financial services Foreclosure Financial Institution Banks 52

Troutman Sanders

AUGUST 9, 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. You may access this interactive tool at [link]. The rules and related court forms become effective for cases filed on or after September 7.

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

Troutman Sanders

JANUARY 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. The portal will open fully on January 19 to all participating PPP lenders to submit First and Second Draw loan applications to the SBA.

Financial services 52

Financial services Garnishment Foreclosure Government 52

Troutman Sanders

NOVEMBER 7, 2023

Small Business Administration (SBA) announced that it has granted three new Small Business Lending Company (SBLC) licenses to lenders focused on historically underserved markets — the first expansion of the SBLC program in more than 40 years. For more information, click here. On November 1, the U.S. For more information, click here.

Financial services 52

Financial services Debt collector Loans Foreclosure 52

Troutman Sanders

JUNE 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. While the CFPB’s analysis is preliminary, the report shows some differences in lending patterns for lenders above and below the threshold.

Financial services 52

Financial services Student Loans Student loans Financial Institution 52