Sawin & Shea

MARCH 9, 2022

Some examples of unsecured debts include, but are not limited to, repossessions deficiencies, old lease balances, medical bills, cash advance loans, and credit card debts. Firstly, you need to understand the difference between unsecured and secured debts. Unsecured debts refer to debts that don’t have collateral.

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Chapter 13 bankruptcy Bankruptcy Unsecured Debt Collateral 102

Troutman Sanders

MARCH 10, 2023

On March 8, the Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights report, focusing once again on fees assessed in relation to bank account deposits, auto loan servicing, mortgage loan servicing, payday lending, and student loan servicing.

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Repossession Student loans Student Loans Loans 52

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. What Happens After You File Chapter 7 Bankruptcy? Additionally, your creditors will not be allowed to contact you.

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Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Unsecured Debt 81

Troutman Sanders

APRIL 17, 2023

where a putative class of Black students enrolled at Health Career Institute (HCI), a for-profit nursing school, alleged that after HCI arranged for students to take out federal and private student loans to pay for the program, HCI adopted new policies that increased the amount of time and money it would take students to complete the program.

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Student loans Student Loans Repossession Loans 94

Roths Child Law

OCTOBER 1, 2021

Here are some of the debts that you generally cannot clear away with bankruptcy: Student loan debt. The reasoning behind classifying student loans as non-dischargeable dates back to the 1970s when most college graduates were able to land gainful employment and repay the loan fairly easily.

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Bankruptcy Chapter 13 bankruptcy Student loans Student Loans 52

Credit Corp

MAY 3, 2021

The bank repossesses the car, but you still owe $20,000 on it. If the car is worth $15,000, the bank can sell it and recover that much of the loan—leaving $5,000 of debt to be canceled. The credit card company agrees to this settlement , which means $4,000 of your debt has been canceled.

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Repossession Bankruptcy Creditors Unsecured Debt 94

Titan Consulting

AUGUST 23, 2020

Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt. The CARES Act also requires lenders to offer repayment options that include adding missed payments to the end of the loan, a loan modification, or refinance. Take advantage of payment waivers.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Sawin & Shea

OCTOBER 11, 2023

Dischargeable debt would include things like: Medical bills Credit card bills Utility bills Back rent Personal loans Repossession balances At the end of the bankruptcy process, the remaining balances for these types of unsecured debts will likely be forgiven.

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Bankruptcy Student loans Student Loans Chapter 7 bankruptcy 52

Better Credit Blog

APRIL 1, 2022

Other Factors: Keeping a mix of different types of credit — a student loan, a couple credit cards, a car loan, and a mortgage, for example — will help your credit score some. Repossessions. Limiting new credit applications can help, too. Negative Items to Get Off Your Credit Report. Charge Offs. Late Payments.

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Bankruptcy Collection Agencies Collections Agency Foreclosure 114

Troutman Sanders

MAY 5, 2022

Summarized below are those issues identified in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. The CFPB sees wrongful repossessions everywhere. Student Loan Servicing.

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Sawin & Shea

DECEMBER 28, 2023

By stretching out, modifying, or reducing payments, Chapter 13 helps make debt more manageable for financially distressed individuals while allowing them the opportunity to save assets like their homes from foreclosure and cars from repossession. As long as you keep up with repayment plan payments, you can avoid repossession or foreclosure.

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Chapter 13 bankruptcy Bankruptcy Repossession Foreclosure 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. Student loans are also difficult but not impossible to discharge in bankruptcy. Repossessions are pending.

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Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Collection Industry News

MAY 16, 2022

The CFPB recently issued its Spring 2022 Supervisory Highlights , discussing findings from its examinations in connection with auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. Student Loan Servicing.

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Student loans Student Loans Repossession Debt collector 40

Credit Corp

APRIL 26, 2024

A property is foreclosed or repossessed. So, if your debt isn’t canceled via repossession, bankruptcy or other such processes, cancellation could happen at any time. Box 6 on the document contains a code to help you determine why you received the form. Your mortgage is modified. Is a 1099-C Form Good or Bad for Your Credit?

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Repossession Creditors Bankruptcy Foreclosure 59

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. Your assets are protected while you make monthly payments to creditors through the court.

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Debt Free Colorado

JANUARY 10, 2022

Only student loans, taxes, and past-due child support are non-dischargeable. . After filing for bankruptcy, most people may apply for credit cards and auto loans. Bankruptcy instantly halts collection efforts, judgements, and repossessions and allows an opportunity to renegotiate or be forgiven.

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Sawin & Shea

JANUARY 25, 2022

To enforce secured debts, your creditors may repossess your car or other vehicles, they may foreclose on your mortgage, or levy against other property you have either pledged as collateral or that is subject to an involuntary lien. Examples of Unsecured Debts. What Happens When You Can’t Pay Unsecured Debts?

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Collection Industry News

MAY 9, 2022

Summarized below are those issues identified in the areas of auto servicing, consumer reporting, credit card account management, debt collection, deposits, mortgage origination, prepaid accounts, remittances, and student loan servicing. The CFPB sees wrongful repossessions everywhere. Student Loan Servicing.

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Financial Institution Repossession Debt collector Student Loans 40

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. Chapter 7 bankruptcy, also known as liquidation or straight bankruptcy, can help those having financial difficulties clear away various types of debts.

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Better Credit Blog

AUGUST 4, 2020

Home loans. Auto loans. Personal loans. Student loan refinancing. Repossessions. If your credit score is holding you back from being able to secure a home or auto loan or a credit card, a credit repair company could be very beneficial. Investment accounts. Credit cards. Wealth advising. Charge offs.

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Banks Lender Loans Student loans 52

Credit Corp

SEPTEMBER 12, 2023

They include auto repossessions or foreclosures. The main ones to look out for include: Credit card debt Student loans Medical debt Auto loans Become an Authorized User for Credit Piggybacking If you don’t have the resources to boost your credit alone, you can try credit piggybacking.

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Bankruptcy Lender Student Loans Student loans 93

Sawin & Shea

AUGUST 30, 2023

Car loans (unless you allow your car to be repossessed, in which case you will not owe any past payments). Most federal student loans. Section 523 of the United States Bankruptcy Code explains which debts cannot be discharged in bankruptcy: Child support. Alimony payments. Court fines. Medical bills.

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Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Better Credit Blog

AUGUST 7, 2020

Property repossession. There’s no reason an application for a credit card should hold you back from getting approved for a competitive mortgage , student loan, or any other line of credit. Credit repair companies can help with several complex credit issues, including: Bankruptcy. Charge offs. Debt collectors. Foreclosure.

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Retail Lender Debt collector Banks 52

Better Credit Blog

NOVEMBER 23, 2020

When you fail to repay a debt, whether it’s a medical bill, student loan, or credit card balance, it eventually enters collections. If you’re dealing with more than just debt collectors, these companies can help get you on track, whether you’re recovering from bankruptcy, foreclosure, a judgment, or repossession. Bank cards.

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Debt Free Colorado

MARCH 3, 2023

Generally, secured debt (loans backed by collateral), student loans, child support or alimony, recent taxes, criminal fines, or personal injury judgments cannot be discharged. What Can’t Bankruptcy Do? Not all financial issues can be resolved through bankruptcy.

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

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.

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Better Credit Blog

SEPTEMBER 4, 2020

It is possible that Sky Blue may be able to help you remove other negative marks from your credit report, such as charge offs , late payments , and repossessions. They collect loans for auto lenders, banks, commercial lenders, credit unions, credit card issues, student loans, telecommunications, and utility providers.

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Debt collector Collections Credit Unions Credit Unions 52

Sawin & Shea

APRIL 17, 2024

Common types of dischargeable debt include: Credit card debt Medical debt Judgements Utility bills Back rent Personal loans Repossession balances While Chapter 13 helps you repay certain debts and discharge remaining balances, not all forms of debt are dischargeable.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 52

Sawin & Shea

APRIL 10, 2024

Common types of dischargeable debt include: Credit card debt Medical debt Repossessions Judgements Evictions Unpaid phone bills Personal loans Unpaid utility bills What Debts Can I Not Discharge in Chapter 7 Bankruptcy?

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Chapter 7 bankruptcy Bankruptcy Unsecured Creditor Debtor 52

Credit Corp

JULY 26, 2021

If the estate cannot pay off the loan, the person who inherits the car can sell it to cover the debt. If you qualify for a car loan or you can pay their loan off in full, on the other hand, you can keep the vehicle. If no one is able to pay off the loan, the lender may repossess it. Student Loan Debt.

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Student loans Student Loans Credit Card Debt Loans 98

Titan Consulting

APRIL 26, 2020

Deferring your auto payments may put you at risk for repossession if your lender requires you to catchup and make all deferred payments at the end of the deferral period. What Happens to Student Loan Debt After a Forbearance Ends ?

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Student loans Student Loans Lender Loans 52

Fico Collections

JANUARY 26, 2022

Student Loan Challenges. In December, the Federal Government extended the Student Loan Forbearance Period through January 31, 2021. This means that student loan borrowers do not have to make any payments during this period. Trillion owed. What will occur in 2021 is anyone’s guess.

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Collections Student loans Student Loans Government 52

Burr Forman

DECEMBER 4, 2020

The new bill issued a moratorium on evictions, foreclosures, and repossessions, which expired on June 30, 2020. Pritzker issued Executive Order 2020-16 , which suspended the repossession of vehicles during the duration of the COVID-19 Gubernatorial Disaster Proclamation. This guidance is set to expire March 31, 2021.

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Financial Institution Garnishment Collections Foreclosure 52

Account Recovery

APRIL 28, 2025

Bureau Dismisses Proposed Settlement in Debt Collection Case On Friday, the Bureau filed a voluntary dismissal, with prejudice, in a case against the National Collegiate Student Loan Trusts, which began all the way back in 2017. The two sides had reached a proposed $2.25 a subprime auto lender.

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Student loans Student Loans Lender Loans 130

Collection Industry News

JUNE 14, 2021

President Biden’s nominee to lead the CFPB, Federal Trade Commission member Rohit Chopra, was the bureau’s first student loan ombudsman under former CFPB Director Richard Cordray and is expected to return the bureau to its former place at the forefront of consumer protection in financial services.

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