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16 hours 32 min ago

CFPB Confirms Effective Date for Debt Collection Final Rules
debt collection(Reprint from CFPB, July 30, 2021) The Consumer Financial Protection Bureau (CFPB) today announced two final rules under the FDCPA will take effect in November. The first rule, issued in October 2020, focuses on debt collection communications and clarifies the FDCPA’s prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt. The second rule, issued in December 2020, clarifies disclosures debt collectors must provide to consumers at the beginning of collection communications. The second rule also prohibits debt collectors from suing or threatening to sue consumers on time-barred debt. Additionally, the second rule requires debt collectors to take specific steps to disclose the existence of a debt to consumers before reporting information about the debt to a consumer reporting agency.
The CFPB proposed extending the final rules’ effective date by 60 days to allow stakeholders affected by the COVID-19 pandemic additional time to review and implement the rules. The public comments generally did not support an extension. Most industry commenters stated that they would be prepared to comply with the final rules by November 30, 2021. Although consumer advocate commenters generally supported extending the effective date, they did not focus on whether additional time is needed to implement the rules. The alternative basis for an extension that many commenters urged, a reconsideration of the rules, was beyond the scope of the NPRM and could raise concerns under the Administrative Procedure Act. Nothing in this decision precludes the CFPB from reconsidering the debt collection rules at a later date.

The CFPB is committed to informing consumers about their rights and protections under the rules and assisting debt collectors in implementing them. Consumer education materials on debt collection and resources to help debt collectors understand, implement, and comply with the rules are available through consumerfinance.gov.
The CFPB will consider additional guidance for debt collectors, including those that service mortgage loans, as necessary. The CFPB recognizes that mortgage servicers are expected to receive a potentially historically high number of loss mitigation inquiries in the fall as large numbers of borrowers exit forbearance and that, as a result, mortgage servicers in particular may face capacity constraints. The CFPB will continue to work with all market participants to ensure a smooth and successful implementation.

debt collectors

Debt Collection Rule FAQs

(reprint from CFPB website)  The questions and answers below pertain to compliance with the Debt Collection Rule.

This is a Compliance Aid issued by the Consumer Financial Protection Bureau. The Bureau published a Policy Statement on Compliance Aids, available here, that explains the Bureau’s approach to Compliance Aids.
debt collectionRead more…..
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.fusion-body .fusion-builder-column-2{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-2 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:980px) {.fusion-body .fusion-builder-column-2{width:100% !important;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-2{width:100% !important;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:980px) {.fusion-title.fusion-title-1{margin-top:15px!important; margin-right:0px!important;margin-bottom:0px!important;margin-left:0px!important;}}@media only screen and (max-width:640px) {.fusion-title.fusion-title-1{margin-top:10px!important; margin-right:0px!important;margin-bottom:10px!important; margin-left:0px!important;}}MUSINGS BY DIANE:debt collectorImportant Update to rules
Every day financially distressed neighbors are hounded and bullied by debt collectors.  Many, if not most, use illegal procedures to collect debts, that may not even be collectable.
Consumer Financial Protection Bureau “CFPB”, was established to police banks, lenders, car dealers, payday lenders, student loans, banks, and many more.  They focus on those who try to take advantage of people who don’t know their rights in dealing with unscrupulous businesses.
Unfortunately, the Trump administration gutted CFPB, but the good news is “they’re back”.  Every week there is a new announcement of CFPB pursuing those who think they can ignore the law.  The above article focuses on one of those groups – debt collectors.  The new rules limit what they can do and the consequences of their bad behavior.  But, in order for this to be successful, you have to be part of the process.  If you do not report bad actors to both the CFPB and FTC (Federal Trade Commission), then the bad actors will continue to abuse others.  Stand up and be heard.

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.fusion-body .fusion-builder-column-6{width:75% !important;margin-top : 0px;margin-bottom : 20px;}.fusion-builder-column-6 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 15px !important;margin-right : 10px;padding-bottom : 0px !important;padding-left : 15px !important;margin-left : 10px;}@media only screen and (max-width:980px) {.fusion-body .fusion-builder-column-6{width:100% !important;order : 0;}.fusion-builder-column-6 > .fusion-column-wrapper {margin-right : 10px;margin-left : 10px;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-6{width:100% !important;order : 0;}.fusion-builder-column-6 > .fusion-column-wrapper {margin-right : 10px;margin-left : 10px;}}.fusion-body .fusion-flex-container.fusion-builder-row-5{ padding-top : 0px;margin-top : 5;padding-right : 0px;padding-bottom : 0px;margin-bottom : 20px;padding-left : 0px;}
The post Finally, New Debt Collection Rules appeared first on Diane L. Drain - Phoenix Arizona Bankruptcy Attorney.


4 days 16 hours ago

five-star“They answered all our questions patiently and thoroughly explained the legal processes and what we could expect so there were no surprises. .” T.D and R.I.
DianeDiane and Jay are an absolutely phenomenal professional team. Bankruptcy is not an easy undertaking and there is a lot of paperwork you have to gather before filing so be prepared and do not get annoyed because Diane and Jay will guide you every step of the way. Try looking at it as a valuable learning experience to get you back on the right track to financial stability. They answered all our questions patiently and thoroughly explained the legal processes and what we could expect so there were no surprises. Her website is a fantastic reference for both clients and attorneys. Spend some time reviewing it and you’ll be convinced that she is the right attorney for you. From your first call to Diane you will immediately see that she is compassionate in understanding your situation and will feel confident that she is the right attorney to proceed with. Keep in mind that she has been specializing in bankruptcy’s for about 30 years and is held in high esteem within the court system. Her fees are very reasonable and her Yelp review page says “discounts available” which we found to be true as my spouse and myself are both veterans and we originally connected with Diane through a link upon another link within the VA Weekly Newsletter. We highly recommend Diane and Jay and are most grateful for all the kindness and respect they showed us in handling our case to completion. T.D. and R. I.
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5 days 13 hours ago

In These Times has an article about a 64 year old taxi medallion owner/driver who is fighting back against NYC. See the post at  https://inthesetimes.com/article/new-york-taxi-workers-alliance-medallio...


1 week 22 hours ago

A continuación se muestra una actualización del Programa de Fideicomisarios de los Estados Unidos con respecto al Programa de Asistencia de Emergencia para el Alquiler a partir de septiembre de 2021. Esta información se refiere al alivio de la pandemia de COVID-19 tanto para inquilinos como para propietarios. Es posible que pueda aprovechar las opciones para mantener el control de su propiedad y su situación financiera.
Si usted es un inquilino y está teniendo problemas para pagar el alquiler o es un propietario que ha dejado de devengar ingresos de alquiler debido a los retos presentados por la pandemia de COVID-19, podría recibir ayuda. Por medio de fondos provenientes del programa de Asistencia de Emergencia para el Alquiler (ERA por sus siglas en inglés) del Departamento del Tesoro de EE.UU., existe un sinnúmero de programas locales y estatales que brindan ayuda, incluso asistencia financiera, a aquellas personas que estan luchando para llegar a fin de mes. A continuación encontrará los enlaces para recibir más información sobre el programa ERA en su región, incluyendo cómo funciona y quién puede recibir ayuda, al igual que otra información importante que podrá ayudarle a superar estos momentos difíciles. El programa ERA puede variar según la región, ya que los estados tienen la flexibilidad de adecuar los programas a las necesidades de sus comunidades locales.
Para obtener más información sobre los programas de asistencia, visite: https://www.consumerfinance.gov/es/coronavirus/asistencia-hipotecas-y-viviendas/
Para los enlaces del programa ERA en su región, visite: https://www.consumerfinance.gov/es/coronavirus/asistencia-hipotecas-y-viviendas/protecciones-arrendatarios/encuentre-ayuda-para-pagar-renta-y-servicios/
Para encontrar respuestas sobre las preguntas más frecuentes, visite:
Para los inquilinos: https://www.consumerfinance.gov/es/coronavirus/asistencia-hipotecas-y-viviendas/protecciones-arrendatarios/asistencia-de-emergencia-a-inquilinos/
Para los propietarios (en inglés): https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/help-for-landlords/
Para hablar sin costo alguno con un asesor de vivienda aprobado por el Departamento de Vivienda y Desarrollo Urbano sobre sus opciones, un plan de acción o ayuda para solicitar la asistencia de emergencia para el alquiler, llame al (800) 569-4287 o visite (en inglés) https://www.consumerfinance.gov/find-a-housing-counselor/.
 
For the english version, click here.
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1 week 22 hours ago

Below is an update from the United States Trustee Program regarding the Emergency Rental Assistance Program as of September 2021. This information is regarding COVID-19 pandemic relief for both renters and landlords. You may be able to take advantage of options to keep you in control of your property and your financial situation.
“If you are a renter having trouble paying your rent or a landlord who has lost rental income due to challenges presented by the COVID-19 pandemic, help may be available. Through funding from the U.S. Department of the Treasury’s Emergency Rental Assistance (ERA) program, there are a wide variety of state and local programs that offer assistance—including financial assistance—to those who are struggling to make ends meet. Provided below are links to learn more about ERA programs in your local area, including how they work and who is eligible, as well as other important information to help you navigate these difficult times. ERA programs can vary based on locale since flexibility is given to states to develop programs that best suit the needs of their communities.
For more general information on assistance programs, visit: https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/
For ERA program links in your local area, visit: https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/renter-protections/find-help-with-rent-and-utilities/
To get answers to frequently asked questions, visit:
For Renters: https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/renter-protections/emergency-rental-assistance-for-renters/
For Landlords: https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/help-for-landlords/
To talk with a no-cost Department of Housing and Urban Development-approved housing counselor who can help you understand your options, make an action plan, and even help you apply for rental assistance, call (800) 569-4287 or visit https://www.consumerfinance.gov/find-a-housing-counselor/.”
 
Para la versión en español, haga click aquí.
The post Emergency Rental Assistance Program- UPDATE appeared first on Allmand Law Firm, PLLC.



1 week 4 days ago

 NAVY VETERAN’S STUDENT LOANS RULED NONDISCHARGEABLE BY A FEDERAL DISTRICT COURT JUDGELast year, a Navy veteran’s student loans, totaling $221,000 were discharged in bankruptcy by Southern District of New York Chief Bankruptcy Judge Cecilia Morris. The citation to the case is In re Rosenberg, 610 BR 454 - Bankr. Court, SD New York 2020. The student loans resulted from the veteran attending college and law school. Judge Morris, ruled that the $221,000 of student loans were an undue “hardship”to the veteran and that they would be discharged in his chapter 7 personal bankruptcy filing. Chief Judge Morris wrote in her opinion discharging the student loans that  “she wouldn't perpetuate "myths" that it's impossible to discharge student debt through bankruptcy”.A federal court judge recently reversed that decision. A bankruptcy court decision, like those rendered by a bankruptcy judge, can be appealed to a Federal District Court. The student loan creditor appealed Judge Morris's decision, and it was reversed. The case has been remanded back to Bankruptcy Court for further hearings on the issue of undue hardship. Kevin Rosenberg, the veteran, was devastated by the decision. The Federal judge reversed that decision because Mr. Rosenberg had failed to demonstrate undue hardship using the Brunner standard. According to Brunner, "undue hardship" occurs when debtors cannot maintain a minimum standard of living, their circumstances will not improve, and they have made a good-faith effort to repay their student loans.An excellent article about this topic can be found on the Business Insider website at https://www.businessinsider.com/veteran-student-loan-debt-forgiveness-revoked-bankruptcy-discharge-2021-10. The Brunner standards are so difficult to meet and the cost of litigation is so high that most debtors do not attempt to discharge their student loans in personal bankruptcy.  In this case, Mr. Rosenberg was the exception. As shown in this case, student loan borrowers are at a disadvantage when attempting to discharge their student loans on the basis of bankruptcy. Certain lawmakers, however, are advocating for making the discharge of student debt easier in bankruptcy, and in August this year, Senate Majority Whip Dick Durbin and Texas Sen. John Cornyn introduced the FRESH START Through Bankruptcy Act of 2021. After 10 years, this bill would enable borrowers to discharge federal student loans through bankruptcy. Prior to a law change, student loans that were outstanding for 7 years could be discharged in bankruptcy. According to this author, bankruptcy is a mechanism for the discharge of many types of debt and student loans should be able to be discharged with certain limitations and conditions. The proposed FRESH START legislation is a good step in that direction. James Shenwick 212 541 6224 [email protected]  


1 week 4 days ago

Long Beach Post reports that a federal judge froze $2.4 million in assets for Urban Commons Queensway founders, Taylor Woods and Howard Wu. This freeze in assets in based on Wu & Woods using COVID relief funds that were meant for the Queen Mary for “wrongful purposes.”
U.S. Bankruptcy Court Judge Christopher Sontchi stated that Woods and Wu applied for the protection program loan without their company’s consent and that the two men “misrepresented or lied” to the United States government so they could receive money meant as a protection program loan for the Queen Mary ship, but use it for wrongful purposes instead. Woods says the loan was applied for by mistake and the two said, “There was never any intention to do anything inappropriate by any party involved”. Sontchi contradicts this statement by saying the two men knowingly made false statements in order to receive the loan from the Small Business Association, transferred the money to another company, and then made the funds essentially disappear.
From the article:

“The judge also noted that attorneys for Urban Commons Queensway have submitted to the bankruptcy court evidence of multiple lawsuits and judgments against Woods and Wu for ‘fraud, breach of repayment obligations, and other loan defaults.'”

This fraudulent evidence includes Woods & Wu falsely promising to develop a hotel in order to recieve the lease to the Queen Mary in November 2016, ignoring warnings from a city auditor and approving a $23 million bond to jumpstart repairs on the ship, and essentially driving their company into the ground and into bankruptcy.
The Urban Commons Queensway bankruptcy is due to the exorbitant losses felt by many who were connected to the company, some who poured donations and savings into the Queen Mary. Many of these investors had to resort to filing lawsuits against the company, which forced the company to file for bankruptcy.
The Queen Mary is now back in the hands of the city for the first time in 40 years. The ship is still closed due to the repairs needed to the ship and the COVID-19 pandemic. Many Long Beach locals are upset by the behavior of Woods & Wu and feel it’s a betrayal of the communities trust.
.fusion-button.button-1 {border-radius:2px;}Read The Full Article.fusion-body .fusion-builder-column-0{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1138px) {.fusion-body .fusion-builder-column-0{width:100% !important;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:900px) {.fusion-body .fusion-builder-column-0{width:100% !important;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}.fusion-body .fusion-flex-container.fusion-builder-row-1{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}
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1 week 6 days ago

five-star“Diane told me how to file a complaint against Scott Forrester and ask the State Bar for my money back.” D.B.
Scott ForresterDiane and Jay have been wonderful to work with, they are really the best. I found them after paying Scott Forrester and then found out he was disbarred. Diane told me how to file a complaint and ask the State Bar for my money back. She then helped me file a bankruptcy and stop my creditor from garnishing my wages. Wow – she is an angel.  D.B.
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2 weeks 16 hours ago

It’s officially Fall! Get ready to pull out those warm sweaters & start planning for your holiday expenses!
In order to plan for your holiday expenses, you’ll need to think about Halloween costumes, decorations, and candy for trick or treaters. For Thanksgiving, you may need to purchase plane or bus tickets to see family members, or you may need to be the host this year. For Christmas, you’ll need to buy presents for your loved ones and possibly even save for a family vacation!
These next 3-4 months are the most expensive time of the year, but here are some financial plans & tips that can help you save this Fall!

  1. Budget for your holiday shopping: Make a list of everyone you are going to buy a present for. Create a budget for each gift & make sure you save a portion of that every paycheck. If you already have a gift idea for a specific person, buy it now so you have it out of the way when it comes to Christmas. You can also wait for the annual sales and buy it on Black Friday or Cyber Monday.
  2. DIY presents can come in handy: The best gifts come from the heart. Homemade gifts can be the most thoughtful & they can save you a lot of money. Additionally, if you want fun new clothes for each holiday, you can create your own Halloween costume or sew your own Thanksgiving sweater or Ugly Christmas sweater.
  3. Second-hand shopping: Buying clothing, furniture, and house decor at thrift stores is very popular right now. Using this trend to your advantage can help you save a lot of money. Y2K & 90’s fashion is very popular right now as well as vintage house decor. Thrift stores all across the U.S. are carrying these items right now. Thrift stores are also essential in finding cheap Christmas sweaters, fashionable Fall sweaters & skirts, and clothes that can help you finalize your Halloween costume.
  4. Prioritize your needs over wants: Keep unnecessary purchases to a minimum. You know you’re going to have to spend more money than usual these next few months, so plan every purchase and DO NOT impulse buy items you don’t need.

The post Your Fall Financial Plans! appeared first on Allmand Law Firm, PLLC.



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