Attachment Orders a Guide for Employers
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An End Based on Means Report
F L AN END A C BASED ON MEANS? A N E N D B A S E D O N M E A N S ? A report on how the legal system in the Republic of Ireland treats uncontested consumer debt cases with an examination of alternatives and proposals for reform. yce Paul Jo es Email: [email protected] Free Legal Advice Centr Fax: (01) 874 5320 13 Lower Dorset Street, Dublin 7 Tel: (01) 874 5690 www.flac.ie AN END BASED ON MEANS? A report on how the legal system in the Republic of Ireland treats un- contested consumer debt cases with an examination of alternatives and proposals for reform. FREE LEGAL ADVICE CENTRES - 2003 Acknowledgements There are many people, far too numerous to name, who have helped with material and encouragement for this report; money advisors throughout Europe, Britain and Ireland, an assortment of public servants, creditor representatives and many individuals who responded in a helpful manner to requests for information as well as the staff, council members and volunteers of the Free Legal Advice Centres. However, grateful thanks are specifically due to two individuals who have played a key role in seeing this work come to fruition; Daithi Downey, formerly of the Combat Poverty Agency whose support and research expertise was essential in shaping the early drafts of the report and Stuart Stamp, formerly of the Money Advice and Budgeting Service whose support and money advice expertise was essential in delivering what is, hopefully, a coherent final version. s This report is dedicated to money advisors everywhere who work on an everyday t n e basis with people who are indebted and over-indebted. -
II. the Onset of Insolvency Or Financial Distress
Reproduced with permission from Corporate Practice Series, "Corporate Governance of Insolvent and Troubled Entities," Portfolio 109 (109 CPS II). Copyright 2017 by The Bureau of National Affairs, Inc. (800-372-1033) http://www.bna.com II. The Onset of Insolvency or Financial Distress A. Introduction Because a Chapter 11 reorganization can be expensive and time consuming, a troubled corporation may seek to right itself through an out-of-court transaction—such as a recapitalization, merger or asset sale. These transactions and the directors' decisions concerning them are analyzed under state corporation law. Corporation law also provides a state law alternative to a Chapter 7 liquidation through procedures for voluntary and forced dissolution as well as ancillary remedies such as the appointment of a receiver to marshal a corporation's assets, sell those assets, distribute the proceeds to creditors, and take other steps to wind down a corporation. That said, as discussed below, state law insolvency proceedings have limitations that often make them an unsuitable alternative to federal bankruptcy proceedings. B. Director Duties in the `Zone of Insolvency' and Insolvency As discussed in Chapter I, § 141(a) of the DGCL gives directors the authority and power to manage a corporation, and in exercising that authority directors are subject to the fiduciary duties of care and loyalty. Under ordinary circumstances, these fiduciary duties require that directors maximize the value of the corporation for the benefit of its stockholders, who are the beneficiaries of any increase in the value of the corporation. When a corporation is insolvent, however, the value of the corporation's equity may be zero. -
Administration of Justice Act 1981
c i e AT 8 of 1981 ADMINISTRATION OF JUSTICE ACT 1981 Administration of Justice Act 1981 Index c i e ADMINISTRATION OF JUSTICE ACT 1981 Index Section Page PART I 7 1 to 3 [Repealed] ................................................................................................................. 7 PART II – ENFORCEMENT OF EXECUTION ORDERS 7 4 The Judgments Officer ................................................................................................... 7 5 [Repealed] ........................................................................................................................ 8 6 Coroners and lockmen ................................................................................................... 8 7 Abolition of juries of appraisement etc ........................................................................ 9 8 Coroner’s inquiries and certificates .............................................................................. 9 9 Interest on judgment debts .......................................................................................... 10 9A [Repealed] ...................................................................................................................... 11 10 Functions of Police in aid of Coroner etc ................................................................... 11 11 Liability for official acts and omissions ..................................................................... 11 12 Priorities ........................................................................................................................ -
GOVERNMENT of the DISTRICT of COLUMBIA Office of the Attorney General
GOVERNMENT OF THE DISTRICT OF COLUMBIA Office of the Attorney General ATTORNEY GENERAL KARL A. RACINE April 24, 2020 GUIDANCE ON THE DEBT COLLECTION PROVISIONS OF THE COVID-19 RESPONSE SUPPLEMENTAL EMERGENCY AMENDMENT ACT OF 2020 On April 10, 2020, the Council for the District of Columbia passed the emergency Act 23-286, the COVID-19 Response Supplemental Emergency Amendment Act of 2020 (“Emergency Act”) which aims to help DC residents deal with the fallout from the coronavirus pandemic. Section 207 of the Emergency Act amended D.C. Code § 28-3814 to add a number of temporary restrictions related to the collection of consumer debt during the coronavirus pandemic. The District of Columbia Office of the Attorney General (“OAG”) enforces the prohibitions in D.C. Code § 28-3814 though its enforcement authority under the Consumer Protection Procedures Act, D.C. Code § 28-3909. OAG issues the following guidance on how it interprets the Emergency Act for enforcement purposes to provide clarity regarding the law’s debt collection provisions. The Emergency Act covers any debt that is 30 days past due and was made for the purchase of goods, services, or property for personal, family or household purposes. This includes motor vehicle loans but does not include home mortgages or other loans on real property.1 For the duration of the declared coronavirus emergency, and for 60 days after its conclusion, the Emergency Act prohibits creditors and debt collectors from threatening or initiating any new legal action to collect a debt, visiting a debtor’s home or place of employment, or confronting the debtor about the debt in any public place. -
Can't Pay Or Won't Pay? a Review of Creditor and Debtor Approaches to Non- Payment of Bills
CAN'T PAY OR WON'T PAY? A review of creditor and debtor approaches to the non-payment of bills Nicola Dominy and Elaine Kempson Personal Finance Research Centre, University of Bristol March 2003 No. 4/03 Can’t pay or won’t pay? A review of creditor and debtor approaches to the non-payment of bills Nicola Dominy and Elaine Kempson Prepared for the Lord Chancellor's Department February 2003 The Research Unit, Department for Constitutional Affairs, was formed in April 1996. Its aim is to develop and focus the use of research so that it informs the various stages of policy-making and the implementation and evaluation of policy. Crown Copyright 2003. Extracts from this document may be reproduced for non- commercial purposes on condition that the source is acknowledged. First Published 2003 ISBN 1 84099 050 3 Contents Page Executive Summary v 1. Introduction 1 Research Aims and Methods 1 Structure of the Report 4 2. A map of can’t pay won’t pay 5 Reasons for arrears 5 Distinguishing can’t pays from won’t pays 8 Payment withholders 10 Working the system 15 Ducking responsibility 19 Disorganised 22 Mapping can’t pay won’t pay 24 3. Arrears management and debt recovery 26 Industry Codes of Practice and Guidance 27 Overview of company approaches to arrears management and debt recovery 32 Holistic approach 35 Hard business approach 39 One-size-fits-all approach 42 Changes in creditor approaches to arrears management and debt recovery 44 Creditors’ use and views of the courts 45 Debt collection agencies 52 Creditor’s abilities to distinguish can’t from won’t pay 53 4. -
Bankruptcy Pros + Cons Pros Things to Consider
Bankruptcy Pros + Cons Bankruptcy is a formal insolvency procedure in which all your financial affairs are taken under the control of an “Official Receiver” or a “Trustee”, who has the power to sell your assets to pay your creditors. The duty of the Official Receiver and Trustee is to investigate and realise assets for the benefit of your creditors. The Insolvency Service states that you should check if there are other ways you can deal with your debts before you apply for bankruptcy. Pros Bankruptcy is a relatively quick process, often lasting 12 months. When the bankruptcy order is made interest and charges on included debts will be frozen. Creditor collection activity will cease once a bankruptcy order is made. Until such time if you currently have any recovery or legal action this may not be suspended or withdrawn. If legal action starts to recover debts prior to the commencement of bankruptcy this may result in further cost to you. Outstanding personal tax liabilities can be included in a bankruptcy. Things to consider An upfront payment of £655 (for Northern Ireland £647) is required in order to access the solution. Further fees are payable and are taken from funds recovered for creditors. You will not be asked to pay anything further; the fees will be taken from any sale proceeds and/or payments you make to your Official Receiver or Trustee. You may be required to make a payment into the bankruptcy for 36 months. If your sole source of income is state benefits it is unlikely you will be required to make a monthly payment based on Insolvency Service guidance. -
Creating a Framework for Sovereign Debt Restructuring That Works 1
Creating a Framework for Sovereign Debt Restructuring that Works 1 Martin Guzman2 and Joseph E. Stiglitz3 Abstract Recent controversies surrounding sovereign debt restructurings show the weaknesses of the current market-based system in achieving efficient and fair solutions to sovereign debt crises. This article reviews the existing problems and proposes solutions. It argues that improvements in the language of contracts, although beneficial, cannot provide a comprehensive, efficient, and equitable solution to the problems faced in restructurings—but there are improvements within the contractual approach that should be implemented. Ultimately, the contractual approach must be complemented by a multinational legal framework that facilitates restructurings based on principles of efficiency and equity. Given the current geopolitical constraints, in the short-run we advocate the implementation of a “soft law” approach, built on the recognition of the limitations of the private contractual approach and on a set of principles – most importantly, the restoration of sovereign immunity – over which there may be consensus. We suggest that in a context of political economy tensions it should be impossible for a government to sign away the sovereign immunity either for itself or successor governments. The framework could be implemented through the United Nations, or it could prompt the creation of a new institution. Keywords: Sovereign Debt Crises, Sovereign Debt Restructuring, Debt Contracts, International Lending 1 We are indebted to Sebastian -
In the United States District Court for the District of Kansas
IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF KANSAS CRYSTAL CARSON, Plaintiff, v. Case No. 20-4055-JWB NATIONAL COLLEGIATE STUDENT LOAN TRUST 2004-2; and KRAMER & FRANK, P.C., Defendants. MEMORANDUM AND ORDER The case is before the court on Defendant Kramer & Frank, P.C.’s (hereinafter “K&F”) motion to dismiss. (Doc. 27.) The motion is fully briefed and is ripe for decision. (Docs. 29, 43, 48.) For the reasons stated herein, the motion to dismiss is GRANTED. I. Facts The following facts are taken from Plaintiff’s first amended complaint (Doc. 22) and are assumed to be true for purposes of the motion to dismiss. Plaintiff is indebted on a student loan owned by Defendant National Collegiate Student Loan Trust 2004-2 (hereinafter “Trust”). The loan is reflected in multiple written promissory notes attached to the first amended complaint. (Doc. 22-1.) Trust’s predecessors performed on the notes by lending Plaintiff money to complete her higher education. Trust obtained the notes by assignment. Five of the notes are governed by the laws of California; two are governed by Ohio law. (Doc. 22 at 3.) Trust, by and through its legal counsel K&F, brought a collection action against Plaintiff in the Third Judicial District, Shawnee County, Kansas, Case No. 2012-CV-000433 (“the Case”), which resulted in a default judgment against Plaintiff on July 12, 2012. At the time the case was filed, no payment had been made on the California notes for over four years and no payments had been made on the Ohio notes for over six years. -
1 Chairman Phil Mendelson 2 3 4 5 6 7 a BILL 8 9 10
1 _______________________________ 2 Chairman Phil Mendelson 3 4 5 6 7 8 A BILL 9 10 11 _________ 12 13 14 IN THE COUNCIL OF THE DISTRICT OF COLUMBIA 15 16 __________________ 17 18 19 To amend, on a temporary basis, Section 28-3814 to include all consumer debt under the 20 District’s collection law; to prohibit deceptive behavior from debt collectors including 21 threatening to accuse people of fraud, threatening to sell or assign consumer debt such 22 that the consumer would lose defense to a claim or disclosing or threatening disclose 23 consumer debt information without acknowledging such debt is in dispute or in a way 24 that would harm the consumers reputation for credit worthiness; to prohibit debt 25 collectors from making more than three phone calls to a consumer in seven days; to 26 prohibit the communication of consumer indebtedness to employer’s, except when such 27 indebtedness is guaranteed by the employer, the employer requests the loan, or the 28 information is an attachment to an execution or judgment allowed by law; to prohibit debt 29 collectors from communicating an individuals indebtedness to family, friends or 30 neighbors except through proper legal processes; to require debt collectors to have 31 complete documentation related to the consumer debt being collected; to require debt 32 collectors who enter into a payment schedule or settlement to provide a written copy of 33 said schedule or agreement; to implement specific requirements for a debt collector when 34 initiating a cause of action against a consumer for -
Debt Collection Practices (Regulation F): Final Rule
BILLING CODE: 4810-AM-P BUREAU OF CONSUMER FINANCIAL PROTECTION 12 CFR Part 1006 [Docket No. CFPB-2019-0022] RIN 3170-AA41 Debt Collection Practices (Regulation F) AGENCY: Bureau of Consumer Financial Protection. ACTION: Final rule; official interpretation. SUMMARY: The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to revise Regulation F, which implements the Fair Debt Collection Practices Act (FDCPA) and currently contains the procedures for State application for exemption from the provisions of the FDCPA. The Bureau is finalizing Federal rules governing the activities of debt collectors, as that term is defined in the FDCPA. The Bureau’s final rule addresses, among other things, communications in connection with debt collection and prohibitions on harassment or abuse, false or misleading representations, and unfair practices in debt collection. DATES: This rule is effective [INSERT DATE ONE YEAR AFTER PUBLICATION IN THE FEDERAL REGISTER]. FOR FURTHER INFORMATION CONTACT: Dania Ayoubi, Joseph Baressi, Seth Caffrey, Brandy Hood, David Jacobs, Courtney Jean, Jaclyn Maier, Adam Mayle, Kristin McPartland, Michael Scherzer, or Michael Silver, Senior Counsels, Office of Regulations, at 202-435-7700. If you require this document in an alternative electronic format, please contact [email protected]. 1 SUPPLEMENTARY INFORMATION: I. Summary of the Final Rule The Bureau is finalizing amendments to Regulation F, 12 CFR part 1006, which implements the FDCPA.1 The amendments prescribe Federal rules governing the activities of debt collectors, as that term is defined in the FDCPA (debt collectors or FDCPA debt collectors). The final rule focuses on debt collection communications and related practices by debt collectors. -
Debt Arrangement and Attachment (Scotland) Act 2002
Debt Arrangement and Attachment (Scotland) Act 2002 2002 asp 17 Explanatory Notes have been produced to assist in the understanding of this Act and are available separately Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17) Debt Arrangement and Attachment (Scotland) Act 2002 2002 asp 17 CONTENTS Section PART 1 THE DEBT ARRANGEMENT SCHEME 1 Debt arrangement scheme 2 Debt payment programmes 3 Money advice 4 Effect of debt payment programmes 5 Variation of debt payment programmes 6 Deduction from earnings 7 Debt payment programmes: power to make further provision 8 Functions of the Scottish Ministers 9 Interpretation of Part PART 2 ATTACHMENT Attachment 10 Attachment 11 Articles exempt from attachment 12 Times when attachment is not competent 13 Presumption of ownership Attachment of articles kept outwith dwellinghouses etc. 14 Procedure for attachment of articles kept outwith dwellinghouses etc. 15 Power of entry and valuation 16 Attachment of mobile homes 17 Report of attachment 18 Redemption 19 Removal and auction of attached articles ii Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17) Attachment: further procedure 20 Order for security of articles or sale of articles which are perishable etc. 21 Unlawful acts after attachment 22 Release of vehicle from attachment 23 Appeals against valuation 24 Duration of attachment 25 Second attachment at same place 26 Invalidity and cessation of attachment Auction of attached articles 27 Notice of public auction 28 Alteration of arrangements for removal or auction 29 Cancellation of auctions 30 Auction 31 Disposal of proceeds of auction 32 Report of auction 33 Audit of report of auction General and miscellaneous provisions 34 Articles belonging to a third party 35 Articles in common ownership 36 Procedure where articles in common ownership are sold at auction 37 Attachment terminated by payment or tender of full amount owing 38 Assistance to debtor 39 Expenses chargeable in relation to attachment etc. -
Fraud and Abuse Online: Harmful Practices in Internet Payday Lending the Pew Charitable Trusts Susan K
A report from Oct 2014 Report 4 in the Payday Lending in America series Fraud and Abuse Online: Harmful Practices in Internet Payday Lending The Pew Charitable Trusts Susan K. Urahn, executive vice president Travis Plunkett, senior director Project team Nick Bourke, director Alex Horowitz Walter Lake Tara Roche External reviewers The report benefited from the insights and expertise of the following external reviewers: Mike Mokrzycki, independent survey research expert; Nathalie Martin, Frederick M. Hart chair in consumer and clinical law at the University of New Mexico; and Alan M. White, professor of law at the City University of New York. These experts have found the report’s approach and methodology to be sound. Although they have reviewed the report, neither they nor their organizations necessarily endorse its findings or conclusions. Acknowledgments The small-dollar loans project thanks Pew staff members Steven Abbott, Dan Benderly, Hassan Burke, Jennifer V. Doctors, David Merchant, Bernard Ohanian, Andrew Qualls, Mark Wolff, and Laura Woods for providing valuable feedback on the report, and Sara Flood and Adam Rotmil for design and Web support. Many thanks also to our other former and current colleagues who made this work possible. In addition, we would like to thank the Better Business Bureau for its data and Tom Feltner of the Consumer Federation of America for his comments. Finally, thanks to the small-dollar loan borrowers who participated in our survey and focus groups and to the many people who helped us put those groups together. For further information, please visit: pewtrusts.org/small-loans 2 Cover photo credits: 1 3 1.