Topic
debt collection
9 stories related to this topic, newest first.
rnz.co.nzworld29 days ago
Student loan company seeks 42,000 overseas graduates owing £893 million
The Student Loans Company is attempting to locate more than 42,000 former European students who left without repaying loans totaling £893 million. The government-owned company has contacted authorities in other countries to trace the borrowers.
finance37 days ago
Trump Administration Moves Defaulted Student Loans to Treasury for Collection via Existing Federal Program
The move routes defaulted borrowers through the Treasury's Cross-Servicing program, which relies on private contractors. More than 10 million borrowers are in default or delinquency.
news.sky.comfinance46 days ago
Bloomberg documentary on dormant mortgages wins News Emmy award
A Bloomberg Investigates documentary received a News Emmy award. The film examines how debt collection firms pursue payments on long-dormant second mortgages.
world46 days ago
Banks Require Documentation to Protect Social Security Funds From Garnishment
Federal rules shield most Social Security benefits from private creditors, yet banks must identify protected deposits after receiving a garnishment order. Recipients may need to supply direct deposit records, bank statements, or benefit verification letters to confirm eligibility…
foxbusiness.comworld47 days ago
Wage Garnishment Continues After Job Change in Most Cases
A job switch generally stops garnishment deductions from the former employer but does not cancel the underlying court order. Creditors can request a new order once they locate the new employer.
washingtonpost.comworld53 days ago
Social Security Disability Benefits Face Limited Garnishment Risks
Federal law protects most SSDI and SSI payments from private creditors, but certain government debts can still lead to offsets. Recipients who mix funds in bank accounts or face lawsuits may encounter temporary complications.
marketwatch.comworld53 days ago
Bank Levies Allow Creditors to Seize Funds but Face Federal and State Limits
A bank levy permits creditors to freeze and seize money from a debtor's account after obtaining a court judgment. Federal law and many state statutes protect certain deposits from seizure. Borrowers facing levies have several debt relief options available.
thepointsguy.comworld54 days ago
Credit Card Charge-Off Leaves Debt Obligation and Credit Damage Intact
A credit card charge-off marks a delinquent account but does not cancel the balance owed. The original creditor or a buyer may continue collection efforts, including lawsuits. Borrowers retain options such as settlement or bankruptcy to address the debt.
Substrate placeholder — needs reviewworld95 days ago
Switching Banks Does Not End Court-Ordered Garnishments or Levies on Debt
Switching banks after a court-ordered garnishment or levy does not eliminate the order, as it applies to the individual rather than a specific account. Creditors can locate new accounts through discovery requests, subpoenas, or examinations. Options to address the debt include se…