Get Debt Relief By Filing Bankruptcy People who are facing unmanageable debts have options. Filing bankruptcy can stop creditor harassment, foreclosure and repossession. Some people can even use the process to discharge tax debts. Bankruptcy can give you a second chance and a fresh financial start. At Sanders Law Group, we help people obtain debt relief through the bankruptcy system. We understand the bankruptcy laws and how to use them to protect the property of our clients. When representing you, our goal will be to help you obtain maximum debt relief, while enabling you to keep as much of your property as possible. Call us today at [...]
You'd be surprised how many people have false information on their credit reports and don't even know it. Of course, they find out pretty quickly when they try to get a car loan...
It happens more often than you might think. After months, and in some cases years, of making steady payments on a car, it might not...
The vultures appear when an animal begins to struggle. It’s the same in lending and that’s what makes debt consolidation offers so dangerous. There are trusted and wholly reliable sources that consolidate debt but there are many predatory companies who sell their service as consolidation when it’s truly debt management. Consolidation versus management Loan consolidation is the combining of multiple loans into a single new loan. Reputable companies who offer this include banks and credit unions. Debt management is a service where a company negotiates with creditors to reduce your loans. They receive payment from you with the goal of using that money to pay the revised terms […]
Across the country there are very strict regulations about when and how debt collectors can call individuals they believe to be in debt. Yet, debt collectors can be relentless and act outside the law, calling you at all hours of the day, threatening you and causing emotional distress to you and your family. How do you know if your debt collector is breaking the law? And how can you stop them? What can’t debt collectors do? Among other things, debt collectors cannot: Threaten to harm you or your property Use obscene or profane language when talking to you Call you at work if you have asked them, in […]
NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES I, Benjamin M. Lawsky, Superintendent of Financial Services, pursuant to the authority granted by Sections 202, 302, and 408 of the Financial Services Law, do hereby promulgate a new Part 1 of Title 23 of the Official Compilation of Codes, Rules, and Regulations, to take effect upon publication in the State Register, to read as follows: 1.1 Definitions. For the purposes of this Part: (a) Charge-off means the accounting action taken by an original creditor to remove a debt obligation from its financial statements by treating it as a loss or expense. (b) Clear and conspicuous means that the statement, representation […]
Rule 1.2 Rule 1.2 requires the debt collector, within five days of the initial communication concerning the collection of a debt, to disclose that certain types of income are exempt from collection if a money judgment is entered against the consumer. The industry has raised concerns that including this exempt income language on communications to consumers whose debts are barred by the statute of limitations could expose them to liability under the Fair Debt Collection Practices Act (FDCPA). Specifically, consumer advocates could argue such language constitutes a threat to file a lawsuit on out-of-statute debt, which is an FDCPA violation. This language is required for out-of-statute debt communications. […]
Restrictions on the Use of Telephone Equipment 47 U.S.C. § 227 (a) DEFINITIONS.—As used in this section— (1) The term “automatic telephone dialing system” means equipment which has the capacity— (A) to store or produce telephone numbers to be called, using a random or sequential number generator; and (B) to dial such numbers. (2) The term “established business relationship”, for purposes only of subsection (b)(1)(C)(i), shall have the meaning given the term in section 64.1200 of title 47, Code of Federal Regulations, as in effect on January 1, 2003, except that— (A) such term shall include a relationship between a person or entity and a business […]
Court reverses district court decision in Buchanan holding that an offer to settle a stale debt may misleadingly imply a threat of litigation in violation of the FDCPA. The Sixth Circuit Court of Appeals issued a 2-1 ruling in Buchanan v. Northland Group, Inc., No. 13-2523 (6th Cir., Jan. 13, 2015), on Jan. 13, 2015. The ruling reversed the trial court’s dismissal of a Fair Debt Collection Practices Act (FDCPA) action that challenged a dunning (collection) letter offering to settle a debt subject to the statute of limitations. At issue in the Buchanan appeal was the district court’s decision that a debt collector does not mislead a consumer and therefore does […]
Earlier this month, New York adopted enhanced consumer debt collection regulations proposed by the New York State Department of Financial Services (NYDFS). The regulations, among other things, require debt collectors to provide consumers additional disclosures, entitle consumers to more information about the money they owe and make it more difficult to collect on time-barred or “zombie” debt. For example, prior to collecting any payment, the collector must notify the consumer if the statute of limitations has expired and that, if the consumer is sued on the debt, the consumer may be able to avoid a judgment by informing the court that the debt is time-barred. This is in direct […]