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Garnishment Loans Student Loans 
Account Recovery
MAY 5, 2025
After a five-year hiatus, the Department of Education will resume involuntary collections on federal student loans today, impacting millions of borrowers already in default. With fewer borrowers making payments, the ripple effect will likely extend beyond student loan servicers, impacting industries that rely on consumer spending.
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Account Recovery
JANUARY 20, 2025
On its way out the door, the Department of Education has published a memo outlining the steps that the new administration should take to prevent individuals from defaulting on their student loan payments and the importance of continuing the actions that have been taken by the outgoing administration.
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Account Recovery
MARCH 14, 2024
While still a few months off on the horizon, the date on which individuals with unpaid student loans may start seeing their paychecks and bank accounts garnished is approaching.
130 
Account Recovery
SEPTEMBER 14, 2020
A District Court judge in Connecticut has granted a motion to dismiss filed by a collection agency, a student loan servicer, and the plaintiff’s employer for allegedly violating the Fair Debt Collection Practices Act by attempting to garnish the plaintiff’s wages, because the statute of limitations on filing a claim had passed when the (..)
147 
Sawin & Shea
NOVEMBER 30, 2022
Student loan default can impact millions of Americans. Unfortunately, defaulting on a student loan can hurt your finances, credit, and other aspects of your life. If you fall behind on student loan payments, your loan won’t default immediately. What Are My Options After Defaulting on Student Loans?
112 
Account Recovery
SEPTEMBER 14, 2020
Judge Grants MTD in Student Loan Collection Case; Unlicensed Debt Collector Arrested in N.C. appeared first on AccountsRecovery.net.
147 
Account Recovery
APRIL 15, 2024
in Student Loans Oregon Gov. Signs Garnishment, Collection Bill into Law Compliance Digest – April 15 WORTH NOTING: Meet a guy who likes to scam the scammers … Why a shortened workweek is gaining steam here in America with CEOs … […]
147 
Nexa Collect
JUNE 27, 2023
Recovering unpaid student loans is a systematic process. Just like mortgage recoveries, the steps can vary depending on the jurisdiction and the terms of the loan. Offset Tax Refunds and Government Benefits : For federal student loans in the U.S., This can affect the borrower’s credit score.
100 
Credit Corp
JULY 30, 2020
As of February 2020, student loan debt in the United States reached a record total of $1.6 Many people are struggling to pay student loans and taking part in various deferment and other assistance programs. Find out more about stimulus help for student loans below.
Credit Corp
MAY 17, 2021
But those who are struggling with debt might wonder: Can my stimulus check be garnished for credit card debt or other money owed. In some cases, the money you get from the third stimulus could be garnished. Federal Student Loan Debt: No. This is not necessarily true for private student loans, though.
105 
Account Recovery
MARCH 14, 2024
Getting to Know Matt Jubenville of Midland Credit Management Passive Debt Buyer Meets Definition of Debt Collector Under FDCPA, Indiana State Law, State Appeals Court Rules Medical Debt Credit Reporting Bill Advances in Illinois Senate Employers Need Education on Student Loan Garnishments PRA Group Appoints Glenn Marino to Board of Directors WORTH (..)
Account Recovery
FEBRUARY 27, 2023
The Court of Appeals for the Tenth Circuit has upheld a ruling in favor of a defendant that was sued for obtaining a default judgment and garnishing the plaintiff’s wages after he defaulted on a student loan debt, by falsely claiming he was the victim of identity theft and claiming the defendants lacked standing to … The post Appeals Court (..)
130 
Titan Consulting
JUNE 7, 2020
Congress recently passed legislation in the CARES act that provides direct and indirect benefits to Federal Student Loan borrowers. Congress also counts the non-payment period through September as credit toward loan forgiveness credit. Help Available for Borrowers with Student Loans. Key Takeaways.
Credit Corp
JULY 9, 2024
Ignoring student loans can damage your credit score, lead to wage garnishment, and accrue interest and fees. It may also result in legal action, tax refund offsets, and impact co-signers, making it crucial to address repayment issues promptly with your loan servicer. What Happens If I Don’t Pay My Student Loans?
Debt Free Colorado
APRIL 9, 2020
So far the offers have been vague, the most likely concessions will be for your lenders on your home and cars to allow you to move a monthly payment to the end of the loan and for credit cards to temporarily reduce your interest rate. There are more tools for dealing with your mortgage than any other type of loan. Student Loans.
Credit Corp
MAY 19, 2021
A judgment can allow a creditor to file a lien against your property or garnish your accounts, for example. Here are some examples of what might happen if you move abroad and ignore the debt that you owe: If you move abroad, you’ll still be responsible for your student loan debt. According to S. Why Won’t This Strategy Work?
105 
Debt RR
AUGUST 3, 2020
Business debt, whether from small business loans, corporate credit cards, or federal and state taxes, can be a challenge to manage. This unpaid debt can lead to a serious problem for businesses: garnishment. Review this guide for everything businesses need to know about bank account garnishment in Texas and how to avoid it.
40 
Credit Corp
JUNE 14, 2023
More than 10% of subprime auto loan customers were behind on payments by 60 days or more in early 2021. We’ll break down when a car payment is late, as well as other common loans, so you’ll be prepared to pay your loans on time. How Late Can You Be on a Mortgage Loan Payment? How Late Can You Be on Student Loans?
83 
Credit Corp
JUNE 3, 2020
Common methods include wage garnishment , property attachments and property liens. 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.
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Sawin & Shea
AUGUST 24, 2020
Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt. Bankruptcy can also stop or delay a home or mortgage foreclosure, stop collection actions, stop garnishments and lawsuits.
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.
Collection Industry News
NOVEMBER 8, 2021
More than eight million Americans were in default on their student loans as of June. They represent roughly one-fifth of the 43 million Americans who held federal student debt. times as likely to default on their loans as their white peers. Finally, we must make the consequences of default less punitive.
Sawin & Shea
MARCH 30, 2021
Your debts will be wiped out, and you will only owe on secured assets for which you sign a Reaffirmation Agreement or non-dischargeable debts like some taxes, student loans, and child or spousal support As soon as you file, you will be protected against collection agencies and wage garnishment Wages that you earn after the filing are yours (if you (..)
98 
Sawin & Shea
JANUARY 18, 2023
Filing Chapter 7 bankruptcy provides you with an automatic stay that prohibits creditors from being able to take any action to collect a debt against you, such as repossessions, wage garnishment, and legal action. Additionally, your creditors will not be allowed to contact you.
Better Credit Blog
APRIL 1, 2022
A good credit score allows you to get better rates on car or mortgage loans just to name a few. If you fall into hard times, the inability to pay off your credit card bills or student loans can result in your debts being transferred to a debt collection agency. Debt Validation. Calling you before 8:00 A.M and after 9:00 P.M.
Katabat
DECEMBER 7, 2021
The report also notes that auto debt increased by $28 billion in the third quarter and student loan balances grew by $14 billion. Student Loan Borrowers Beware: Government Collection Activities Resume Next Year.”. Total debt balances are now $1.1 trillion above where they were at the end of 2019, the report showed.”
Katabat
DECEMBER 7, 2021
The report also notes that auto debt increased by $28 billion in the third quarter and student loan balances grew by $14 billion. Student Loan Borrowers Beware: Government Collection Activities Resume Next Year.”. Total debt balances are now $1.1 trillion above where they were at the end of 2019, the report showed.”
FFGN COLLECT NY
JANUARY 10, 2024
Hochul specifically mentioned student loan servicers who encourage the quickest repayment plans or plans not suitable for the party repaying. In New York, retirement income from Social Security and other sources are exempt from garnishment. The government will look to stop these exploitative tactics and more.
52 
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. Common examples of secured debts include: Home loans Car loans Cash loans secured by other personal property Judicial Liens Tax Liens.
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.
75 
Sawin & Shea
APRIL 3, 2024
Professional Licenses and Loan Defaults While a bankruptcy filing alone shouldn’t ruin your chances of obtaining a license, defaulting on certain loans and debts can. Additionally, bankruptcy may indicate other financial problems that can impact your status with your employer, such as fraud or defaulting on certain loans.
52 
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 of this rule is to prevent small sample sizes from misrepresenting the institution’s loan practices.
Sawin & Shea
JANUARY 24, 2024
The Pros Bankruptcy can stop foreclosures , repossessions, lawsuits, wage garnishment, utility shut-offs, and debt collection activities through its automatic stay provision. Any debts not discharged, like student loans, remain. Poor credit scores disqualify many people from the best rates on consolidation loans.
Troutman Sanders
MARCH 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. As of March 18, the department intends to issue full loan discharges for borrowers with approved borrower defense claims. On March 17, U.S.
Better Credit Blog
APRIL 3, 2022
Debt buyers like Portfolio Recovery Associates, LLC, buy hundreds of accounts at a time from credit card companies like CapitalOne and Discover and from student loan servicers and lenders. However, PRA Group could sue you and try to garnish your wages, but this would happen in civil court.
Collection Industry News
MARCH 17, 2024
Hochul specifically mentioned student loan servicers who encourage the quickest repayment plans or plans not suitable for the party repaying. In New York, retirement income from Social Security and other sources are exempt from garnishment. The government will look to stop these exploitative tactics and more.
40 
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.
40 
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. Student loans are also difficult but not impossible to discharge in bankruptcy.
52 
Credit Corp
DECEMBER 14, 2020
Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. But it’s especially frustrating if your debt is several years old. If that is correct, the lawsuit will be dismissed.
Sawin & Shea
MARCH 7, 2023
When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments.
Debt Free Colorado
DECEMBER 23, 2024
Credit cards, medical bills, and personal loans make up most unsecured debt that bankruptcy can eliminate. Student loans, child support, recent taxes, and court fines must be paid in full. This type of bankruptcy often eliminates credit card debt, medical bills, and personal loans. This means you no longer owe the money.
Sawin & Shea
SEPTEMBER 28, 2022
For example, if you have been having your wages garnished to pay back a persistent creditor, your employer would be aware that this is no longer necessary since you are in the process of Chapter 7 or Chapter 13 bankruptcy. In rare cases, your repayment plan in Chapter 13 bankruptcy may require your wages to be garnished.
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. Debt collection activities, including legal proceedings, garnishments, repossessions, and debt selling, must be prohibited during the state of emergency.
40 
Troutman Sanders
DECEMBER 20, 2022
On December 13, the CFPB and the Federal Housing Finance Agency published updated loan-level data for public use through the National Survey of Mortgage Originations. d/b/a Premier Student Loan Center, a student-loan debt-relief company. For more information, click here. For more information, click here.
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