Sawin & Shea

APRIL 26, 2023

A judgment lien against you can have a variety of distressing and negative consequences. Read on to learn everything you need to know about judgment liens in Indiana, including how they work and how to avoid them. What Is a Judgment Lien? Judgment Liens in the Hoosier State In Indiana, judgment liens last for 10 years.

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Debt RR

AUGUST 3, 2020

This unpaid debt can lead to a serious problem for businesses: garnishment. Bank account garnishment can create serious cash flow blocks for companies of all sizes, and those cash flow problems can compound into other issues, like payroll concerns and late payments on other accounts. Can Debt Collectors Garnish Bank Accounts in Texas?

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Debt Free Colorado

FEBRUARY 21, 2022

Lenders, creditors, finance businesses, and payday lenders are all required by the UCCC to inform consumers about the cost of credit so that they can shop around for the cheapest rates. Except for requirements that lenders disclose the cost of credit and provide customers with limited legal remedies if the UCCC is breached.

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Sawin & Shea

JUNE 16, 2021

You will need pay stubs, bank statements, and tax returns to prove this to your potential lender. Prequalify through several lenders. Make a formal application with the lender you choose. Pro: Lenders will be more willing to lend money when they know that the co-signer has good credit. We are here to help.

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Debt Free Colorado

APRIL 9, 2020

Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. Unlike mortgage lenders, most landlords are simply not in a financial position to weather the loss of rental income due to the high expenses associated with the rental property itself.

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Credit Corp

DECEMBER 14, 2020

If a debt is 10 years old but you were making payments under an agreement with the lender until 3 years ago, the debt is likely still within the statute of limitations and can be pursued by a debt collector. If the debt was sold by the original lender at 6 years, and you made a payment with the new debt buyer, it could restart the clock.

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Better Credit Blog

APRIL 1, 2022

They also might be charging you the full amount in order to make a profit, since credit collection agencies typically buy collection accounts at a discount from the original lender. Other complaints claim TSI threatened wage garnishment or property seizure, both of which they could not do. Debt Validation. Check out their website.

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Better Credit Blog

APRIL 3, 2022

Portfolio Recovery Associates, LLC, is a collection agency that buys old debts from lenders and companies that have been unable to collect the debt themselves. However, PRA Group could sue you and try to garnish your wages, but this would happen in civil court. How Portfolio Recovery Associates Works.

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Credit Corp

JUNE 14, 2023

Lenders don’t necessarily continue to report activity for the entire limit. Pro tip: If you can’t pay your mortgage due to financial hardship, contact your lender as soon as possible. Hard inquiries occur when you apply for credit, like a new credit card, and your potential lender is evaluating your application.

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Sawin & Shea

JANUARY 25, 2022

For example, when you take out a home loan, you will be required to sign a mortgage which grants the lender a lien, or security interest against your home should you fall behind on payments. Instead, when a debtor fails to pay, the lender must first file a lawsuit in order to collect what is owed.

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Debt Free Colorado

APRIL 1, 2021

The payday lenders like Speedy Cash swear up and down that they don’t have anything to do with this, but somehow their customer lists keep getting into the hands of fraudsters. You can’t garnish wages because you don’t have a judgment. You don’t have a judgment because you haven’t filed a lawsuit.

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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. Civil judgments. Garnishments. If the lender confirms the information to be an error, it will be corrected by the credit bureaus.

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Credit Corp

AUGUST 31, 2021

But they also know that most borrowers who are sued for old debts won’t show up in court, and the judge will issue a default judgment. If your debt is past the statute of limitations at this point, you can re-open the default judgment and ask the judge to vacate it because it is time-barred. Always respond to legal summons.

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Debt Free Colorado

DECEMBER 9, 2021

Complete protection from creditors – This includes wage garnishment and debt collection. The lender protects the borrower against foreclosure. A mortgage or car loan secures the lender’s interest in your house. and the majority of court judgments. While debt is not eliminated , it is significantly reduced.

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Collection Industry News

JULY 20, 2020

Sherrod Brown, D-Ohio, has sponsored legislation that prevents debt collectors from engaging in a variety of practices, such as disconnecting utility services or garnishing wages, until 120 days after a major disaster or emergency such as the current coronavirus crisis. All of this has the industry deeply concerned.

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Troutman Sanders

MARCH 11, 2024

On March 4, the Small Business Administration (SBA) announced the next generation of the SBA’s Lender Match tool for small businesses to connect to capital through SBA’s network of approved banks and private lenders. For more information, click here. For more information, click here. On March 1, the U.S.

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Sawin & Shea

JUNE 28, 2023

Plus, nonpayment of these charges can result in a judgment that garnishes your wages and bank accounts. Do: Call the Bankruptcy Law Experts At the end of the day, to protect yourself and those you love, talk with an experienced bankruptcy attorney, disclosing all debts and creditors from family members to mortgage lenders.

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Collection Industry News

JUNE 1, 2023

This presents a substantial opportunity for debt collection agencies to assist lenders in recovering unpaid debts and managing default risks. Claims that are being forwarded are more collectible or they are ending up as a judgment. Economic Factors: Economic conditions directly impact the debt collection industry.

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Troutman Sanders

AUGUST 9, 2021

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. Effective September 1, 2021 through January 31, 2022, the order also adopted new rules to assist renters facing foreclosures as the federal moratorium expired.

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Debt Free Colorado

NOVEMBER 13, 2017

government agency that makes sure banks, lenders, and other financial companies treat you fairly”, Freedom Debt Relief’s offers actually were too-good-to-be-true. Providers cannot stop collection activity, including collection calls, wage garnishment, judgments, and litigation.

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Sawin & Shea

MAY 2, 2024

Enter Sawin & Shea, LLC – a firm with over 50 years of combined experience in bankruptcy services, dedicated to providing compassionate and non-judgmental representation to individuals and families in need. One of our firm’s key strengths lies in our comprehensive understanding of both Chapter 7 and Chapter 13 bankruptcy options.

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Credit Corp

MAY 1, 2024

Debt forgiveness is when a lender reduces or eliminates the amount you owe. Bankruptcy also allows you to avoid wage garnishment in the future. The creditor can’t get a judgment against you or start deducting payments from your wages. Here’s what you need to know about this option for managing your finances.

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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. A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge.

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Collection Industry News

MAY 30, 2022

Upsolve, a nonprofit organization enabling people to file for bankruptcy on their own for free, wanted to create a program that would let non-lawyers give basic advice to New Yorkers facing debt-collection actions from lenders and third-party debt buyers.

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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. It was found some mortgage lenders used a process dubbed “ robo-signing” to falsify many county records. Jail time for debt wasn’t always an option, but it’s become more widespread in the U.S. in recent years.

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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.

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Troutman Sanders

OCTOBER 26, 2020

Notices of foreclosure will only be accepted if the lender or servicer certifies that they notified the borrower of their right to request a forbearance. For more information, click here. On October 16, the Virginia General Assembly voted to amend VA Code § 8.01-512.4

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Troutman Sanders

JANUARY 19, 2021

On January 13, the Small Business Administration reopened the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 a.m. Check out lenders before sharing personal information. For more information, click here.

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Troutman Sanders

MARCH 4, 2024

On February 29, the Consumer Financial Protection Bureau (CFPB) issued a circular to law enforcement agencies and regulators explaining how companies operating comparison-shopping tools can break the law when they steer consumers to certain products or lenders because of kickbacks.

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