This week, Attorney General Lori Swanson announced that Midland Funding, a company known for suing Minnesota residents and then garnishing wages immediately, has agreed to amend its collection practices. This agreement comes after the state of Minnesota brought a lawsuit against the company for filing unreliable papers in court and then targeting individuals over debts they did not have.
The Consumer Financial Protection Bureau (CFPB) recently announced that it will begin to supervise large debt collection agencies on January 2, 2013. This is the first time that the federal government has agreed to do on-site investigations of debt collection agencies.
Summons, judgments and garnishments are scary for everyone. Once creditors have obtained a judgment against a person, they frequently follow with a wage garnishment or an attempt to levy holdings in a bank account. As soon as a person receives a summons, they should contact an experienced and efficient Minneapolis bankruptcy attorney to get relief, if they haven't done so already.