Advice to consumers in dealing with debt collectors, taking into consideration new consumer rights and new consumer risks flowing from federal rules that just went into effect on November 30, 2021. This article provides nine ways to stop debt harassment, with sample letters; explains the limits of what collectors can really do; and lists illegal debt…
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Creditors and debt buyers bring millions of collection lawsuits which usually result in a court judgment for the creditor or debt buyer. This article focuses on consumer rights and strategies to deal with your civil court judgment debt.
The focus of this article is on motor vehicle repossession including limits on self-help repossessions, ten strategies to prevent repossessions, six steps to take after your car is repossessed, and advice on responding to the creditor’s demand for additional payment even after the repossession.
This article provides guidance for consumers on who should consider a reverse mortgage, how it works, foreclosure risks, impacts on spouses, partners, and heirs, and whether it is advisable.
Washington, D.C. – The Center for Responsible Lending (CRL) and National Consumer Law Center (NCLC) today expressed support for the Protecting Wages of Essential Workers Act of 2022 (Protecting Wages Act). The bill will ensure that working Americans who hold consumer debt are not hit with excessive wage seizures that leave them unable to afford…
The substantive decision that the CFPB’s independent funding mechanism violates the Appropriations Clause is radical and unprecedented. But even more extreme is the decision that the remedy for this unconstitutional funding mechanism is that the CFPB’s Payday Lending Rule must be found invalid because it was promulgated using unconstitutional funding.
New Model Will Improve Accuracy and Reduce Impact of Paid Collection Items and Medical Debt
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5th Circuit Decision Jeopardizes a Decade of Consumer Protections WASHINGTON – In an outrageous opinion that endangers efforts to protect American consumers from big banks and predatory actors, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit ruled this week that the funding mechanism of the Consumer Financial Protection Bureau (CFPB)…
Read More about Appeals Court Ruling on CFPB Threatens to Perpetuate Predatory Financial Practices
A recent lawsuit by industry trade groups, including the U.S. Chamber of Commerce, the American Bankers Association, and the Consumer Bankers Association, seeks to prevent the Consumer Financial Protection Bureau (CFPB) from using its unfair, deceptive, or abusive acts and practices (UDAAP) authority to combat discriminatory practices in banking and other financial services. It is…
Read More about NCLC Statement on U.S. Chamber of Commerce Lawsuit Against the CFPB
Over the last few months, the Department of Education has made a number of groundbreaking announcements that will provide debt relief to millions of people with student loans. In addition to the big announcement that most people with federal student loan debt can apply to have $10,000 to $20,000 of that debt cancelled, the Department has…
There have been dramatic changes in 2021 and 2022 making it easier for tens of millions of student loan borrowers to cancel or repay their debt. This article highlights twelve of the most significant changes. Additional information is found in NCLC’s Student Loan Law and at studentloanborrowerassistance.org. But the changes do not stop here. Expect…
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