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Debt Collection

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Now, South Carolina Residents Can Protect More Property

By Dana Wilkinson, Attorney at Law ⋅ June 19, 2008 ⋅ 3 comments

Sheryl told you about Governor Mark Sanford’s veto of a new exemption bill, which determines how much property can be protected from creditors. The South Carolina statutory amounts hadn’t been changed since 1979. The good news is that lawmakers in Columbia voted overwhelmingly to override the governor’s veto, and the new measure [...]

Back to Basics: What This Series Is All About

By Sheryl ⋅ March 10, 2008 ⋅ Post a comment

We’ve been focusing on news-based entries here at the South Carolina Bankruptcy & Consumer Law Blog lately, so I thought it was time to get “back to basics.” Thus, we’re starting this series of posts to do just that — present the basics of bankruptcy and consumer law.
First up, this week, we’re going to talk [...]

Countrywide Under Investigation For Fraudulent Lending

By Sheryl ⋅ March 8, 2008 ⋅ One comment

CNN reports that the Wall Street Journal is confirming that the “troubled” home lender Countrywide is now under FBI investigation for its lending practices:
The mortgage company is suspected of widespread fraud, the paper said, which may have contributed to the subprime mortgage crisis that has rocked the U.S. economy.
The probe will examine underwriting and mortgage [...]

NY Times Money Expert Advises Chapter 7 Over Creditor-Sponsored Loss Mitigation Plans

By Sheryl ⋅ February 16, 2008 ⋅ 2 comments

As this New York Times article (free registration required) makes clear, bankruptcy isn’t necessarily the “option of last resort” for those battling crushing debt
.
The article quotes a law professor named Ronald Mann as suggesting that the credit industry practices are designed to keep debtors entrapped in the prison of debt, and that most would [...]

33% ARM Holders Will Lose Their Homes, According to This Analyst

By Sheryl ⋅ June 13, 2007 ⋅ Post a comment

Christopher Cagan, of First American CoreLogic, says that’s how many ARM mortgage holders who had initial teaser rates of less than 4% will face foreclosure - 1 in 3. Subprime borrowers might actually, for once, be more fortunate - their risk is 1 in 8.
Cagan warns that this is only the result of reset, [...]

FDCPA and Debt Collection Activities Getting New Press

By Sheryl ⋅ June 11, 2007 ⋅ 2 comments

I’m watching CNN Headline News this morning, over morning coffee, and I’m thrilled to see a “Top Tips” on unlawful debt collection activities. This seems to be motivated in part by the release of the FTC’s annual report for the past year. (See the full 13-page report here, in Adobe PDF.) Most of the FTC’s [...]

Keyword Cleanout Post!

By Sheryl ⋅ June 5, 2007 ⋅ Post a comment

Update: Fixed the link to Ms. Wilkinson’s website - my apologies, Dana! (And to the sculptor in Vermont - though, must say, nice work.)
Did you type in a phrase in Google to get here? This post, the first in what I hope to be a regular series (perhaps monthly, maybe more often if I get [...]

Update: Another Reason Harassing Collection Activity is Morally Reprehensible

By Sheryl ⋅ June 5, 2007 ⋅ One comment

Interesting timing for this post from Public Citizen’s CL & P blog: “Sixth Circuit Reverses Dismissal of Claim Alleging That Discover Card’s Harassing Collection Activity Led to Cardholder’s Suicide.” The opinion can be found here, in PDF. (MacDermid v. Discover Card Services, Op. No. 07-0198.)
Briefly: In this opinion for the Sixth Circuit, the Court overturned [...]

“Worthless Scum”

By Sheryl ⋅ June 5, 2007 ⋅ Post a comment

That’s what they want you to think of yourself. That’s what they think. You know who I’m talking about.
The debt collector who left this comment on my blog, for one:
Alternatively, you could try paying your bills and then you wouldn’t have this problem in the first place.
Why shouldn’t a collector ring you. You owe [...]

Are Your Creditors Calling? Don’t Be Afraid of the Telephone.

By Sheryl ⋅ June 5, 2007 ⋅ Post a comment

It’s certainly understandable.
You no longer answer the telephone. You know who’s on the other end - another nasty-toned collector, another creditor’s employee with a supercilious tone, bent on making you feel 2 inches tall. The number scrolls on the screen or the display, and you sigh, and feel a little more beaten down inside. [...]

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