debt collection
7 stories related to this topic, newest first.
deadline.comBloomberg 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.
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.comWage 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.comSocial 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.comBank 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.comCredit 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 reviewSwitching 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…