Consumer Finance

FEBRUARY 27, 2022

The Consumer Financial Protection Bureau (CFPB) is moving to thwart illegal repossessions in the heated auto market.

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Repossession Loans 98

Jimerson Firm

DECEMBER 10, 2021

Many secured creditors are aware of the right to “self-help” repossession—a process that is often fraught with risks and limited to the recovery of assets with a known location. When it comes to recovery personal property and assets, Florida creditors generally have two options for recovery: Self-Help Repossession; and. 2d 752 (Fla.

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Secured Creditor Repossession Collateral Creditors 98

Indiana Consumer Law Group

MARCH 25, 2020

It is my hope in these trying times that creditors exercise restraint and avoid repossessions altogether. Unfortunately, I am afraid that repossessions are still going to occur during the Coronavirus Covid-19 pandemic. If you are reading this, you are probably either concerned about your car being repossessed or it already has.

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Repossession Lawyers Creditors 75

Troutman Sanders

MARCH 2, 2022

On February 28, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a bulletin and accompanying press release , highlighting an issue that the agency has written about frequently over the past several years: inadvertent repossessions. Failing to cancel active repossession orders when a consumer files for bankruptcy.

Repossession 52

Repossession Retrieval Bankruptcy Loans 52

Sawin & Shea

MARCH 23, 2021

Is a car repossession looming in your future? Car repossession is one of the many reasons people contact the Indiana bankruptcy attorneys here at Sawin & Shea. Here’s some good news: You don’t have to just give up and allow your car to be repossessed. Don’t let a car repossession happen without talking to an attorney first.

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Repossession Chapter 13 bankruptcy Bankruptcy Creditors 52

Indiana Consumer Law Group

MARCH 24, 2022

The lawsuit alleges that Financial Center First Credit Union repossessed our client’s car. The lawsuit therefore contends that the letter is misleading and unfair because it falsely states that a consumer or someone associated with them could purchase the repossessed car at auction when that was not the case. Continue reading.

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Credit Unions Credit Unions Repossession Lawyers 52

Jimerson Firm

NOVEMBER 16, 2020

The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession. In Florida, a secured creditor may use self-help repossession without going to court, provided it does not “breach the peace.” § 679.609(2)(b), Fla. Debtor’s Consent to the Entry and Repossession.

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Secured Creditor Collateral Repossession Creditors 69

Sawin & Shea

MAY 26, 2020

I’m here to talk to you today about repossessions. I know currently with this current COVID-19 crisis, many car lenders have voluntarily suspended repossessions. There is no state mandate keeping them from repossessing cars. Give us a call, if you have any questions about repossessions. This is voluntary.

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Repossession Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy 52

Roths Child Law

MAY 11, 2021

When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work? Repossession usually starts with the lender warning and then formally notifying the vehicle owner about arrears on their payments.

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Repossession Lender Collateral Bankruptcy 52

Consumer Finance

JULY 8, 2024

The CFPB took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying millions in penalties as well as paying redress to harmed consumers.

Banks 134

Banks Repossession Loans 134

Troutman Sanders

OCTOBER 15, 2020

Specifically, the CFPB alleged that Nissan violated the Act in four ways: By repossessing vehicles between 2013 and 2020 even though customers had already made payments or taken action that should have prevented repossession; By requiring customers to pay a $7.95 Nissan also agreed to non-monetary relief as part of the Order.

Repossession 72

Repossession Bankruptcy Loans 72

Roths Child Law

MAY 11, 2021

When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. How does repossession work? Repossession usually starts with the lender warning and then formally notifying the vehicle owner about arrears on their payments.

Repossession 40

Repossession Lender Collateral Bankruptcy 40

Account Recovery

OCTOBER 8, 2024

Key findings: What they’re saying: CFPB Director Rohit Chopra emphasized, “The CFPB will take action against auto finance companies that charge fees for nonexistent services or repossess cars after borrowers make payments.”

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Auto Loans collections Loans Repossession Collections 130

Account Recovery

JANUARY 5, 2023

The Consumer Financial Protection Bureau and the Attorney General of New York yesterday filed a lawsuit against an auto lender, accusing it of tricking consumers into high-cost loans on used cars that resulted in unaffordable monthly payments, vehicles being repossessed, and customers facing debt collection lawsuits.

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Lender Repossession Collections Loans 243

Account Recovery

DECEMBER 19, 2023

Appeals Court Overturns FDCPA, RFDCPA Case That Was Dismissed Under Anti-SLAPP Statute Bill Introduced in House to Require Banks to Keep Paper Statements Appeals Court Affirms Dismissal of FDCPA Case Over Auto Repossession WORTH NOTING: The best Lego sets for adults, according to experts … […]

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Repossession Collections Banks 147

Account Recovery

MAY 3, 2022

The report spotlighted problem areas, including wrongful auto repossessions and failures to conduct reasonable investigations when consumers dispute debts, but also included violations related … The post CFPB Supervisory Highlights Report Spotlights Issues Found in Debt Collection Exams appeared first on AccountsRecovery.net.

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Repossession Collections 246

Indiana Consumer Law Group

JANUARY 3, 2018

The lawsuit alleges that agents of Tri-Force breached the peace when they attempted to repossess a vehicle from our client and then, when our client physically resisted the repossession (as was his legal right to do), engaged the police to coerce our client to relinquish possession of the vehicle and thereby accomplish the wrongful repossession.

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Repossession Credit Unions Credit Unions Legal Rights 40

Indiana Consumer Law Group

JANUARY 12, 2017

over a repossession that allegedly did not comply with Indiana law. Specifically, the repo agent is alleged to have breached the peace in repossessing the plaintiff’s vehicle. Indiana law, like most states’, permits a lienholder to repossess a car when the owner defaults on the note. hooked up to) the vehicle.

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Repossession Lawyers Collections 40

Consumer Financial Services Law

NOVEMBER 12, 2016

Auto loan servicers need to pay careful attention to their repossession practices and particularly, their policies concerning repossession fees. Auto loan servicers need to examine their policies and procedures regarding their repossession practices to insure they are in line with the CFPB expectations. 6 (Issue 13, Fall 2016).

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Repossession Loans 40

Consumer Finance

MAY 1, 2022

Today the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the second half of 2021. The report details key findings across consumer financial products and services.

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Repossession Loans 71

UK debt collections

OCTOBER 8, 2024

The call comes as the government’s Renters’ Rights Bill proposes increasing the amount of arrears a tenant can build from two to three months of rent before landlords can serve notice to repossess a property.

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Government Repossession 74

Account Recovery

AUGUST 19, 2024

Years later, in January 2020, the plaintiff filed a lawsuit against the defendant, seeking to recover more than $13,000 following the repossession of the vehicle. On the same day, DriveTime assigned all its rights, including arbitration, to DT Acceptance Corporation (DT Acceptance).

Repossession 130

Repossession Fair Debt Collection Loans Collections 130

Account Recovery

AUGUST 19, 2024

Years later, in January 2020, the plaintiff filed a lawsuit against the defendant, seeking to recover more than $13,000 following the repossession of the vehicle. On the same day, DriveTime assigned all its rights, including arbitration, to DT Acceptance Corporation (DT Acceptance).

Repossession 130

Repossession Fair Debt Collection Loans Collections 130

UK debt collections

FEBRUARY 10, 2023

Repossessions by landlords hit 5,409 between 1 October and 31 December last year, which was almost double the number in the same period in 2021, according to new Ministry of Justice figures for England and Wales. Social landlord repossessions were highest in Preston, Lancashire, with 146 per 100,000 households.

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Repossession 59

Troutman Sanders

FEBRUARY 29, 2024

Repossessions — the CFPB requested information on the circumstances leading up to a repossession, the impact of a repossession on the borrower and lender, and information about the kinds of technology used during repossession, such as GPS tracking and starter-interrupt devices.

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Repossession Lender Loans Collections 52

Consumer Finance

OCTOBER 12, 2020

The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide.

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Repossession Loans Collections 92

Account Recovery

AUGUST 3, 2023

A […]

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Loans Repossession Collections 130

Account Recovery

OCTOBER 14, 2020

The Consumer Financial Protection Bureau yesterday announced it had entered into a consent order with Nissan Motor Acceptance Corp.,

Repossession 147

Repossession Lender 147

Troutman Sanders

FEBRUARY 24, 2023

The data requests are extensive and request information about originations, servicing, and repossessions over the past five years. Repossessions Specifically, the CFPB requests information on the circumstances leading up to a repossession, and the impact of a repossession on the borrower and lender.

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Lender Repossession Loans Collections 52

UK debt collections

FEBRUARY 11, 2024

Meanwhile, the number of repossessions remains very low. Repossession is only ever a last resort and after other options have been explored. Across BTL and homeowner mortgaged properties, a total of 1,040 were repossessed in Q4 2023. This compares with nearly 2,000 in Q4 2019 before the pandemic.

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Repossession Lender Government Banks 92

Roths Child Law

MARCH 15, 2023

When they can't find a job that offers comparable pay, they may find themselves unable to pay their bills at all in facing foreclosure, repossession or lawsuits from creditors. Even successful professionals typically only have enough money in savings to cover their cost-of-living expenses for a month or two.

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Bankruptcy Repossession Foreclosure Unsecured Debt 96

Credit Corp

JANUARY 11, 2024

Once you return your car, the lender will treat it like a regular repossession. However, by voluntarily giving your car back, you can avoid the embarrassment of a regular repossession and some of the fees associated with this process. Keep in mind that even a voluntary repossession will show up on your credit report.

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Repossession Lender Loans Bankruptcy 52

Nerd Wallet

JULY 9, 2021

The automatic stay temporarily halts most judgments, collection activities, foreclosures and repossessions of the consumer’s property, which is known as the bankruptcy estate. The moment a consumer files for bankruptcy, such as Chapter 7 or Chapter 13, an automatic stay typically takes effect immediately. What the automatic stay.

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Bankruptcy Repossession Foreclosure Judgment 105

Micro Bilt

JANUARY 9, 2024

Debt collection tactics are becoming more high tech - some even have the ability to remotely repossess items bought on credit. These resources help professionals contact debtors and better communicate with them to get back the money owed.

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Nerd Wallet

AUGUST 31, 2021

Until you fully repay the loan, the lender holds the title to the car and can repossess it if you fall behind. Then, it’s yours to drive, while also making monthly payments on the loan (with interest) over time. Shannon Bradley writes for NerdWallet. Email: sbradley@nerdwallet.com. The article How Do Car Loans Work?

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Loans Repossession Lender 91

Optio Solutions

JUNE 8, 2023

While a car can be repossessed in the case of non-payment, utilities can’t be reclaimed. Unlike hard goods like cars, furniture, etc., utilities like electricity, water and gas are intangible services. That makes utilities debt collection difficult as the only real incentive for paying is disruption of service.

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Repossession Collections 52

Troutman Sanders

MARCH 10, 2023

Auto Loan Servicing: Examiners asserted that some servicers charged late fees that exceeded the permissible amounts stated in borrowers’ contracts or charged late fees to consumers after vehicle repossessions and loan acceleration, even though a monthly payment was no longer due.

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Repossession Student Loans Student loans Loans 52