Collection Industry News

AUGUST 6, 2023

Over 50% of borrowers added debt on regular credit cards during the student loan payment pause and another 31% racked up balances on retail cards, a recent TransUnion analysis found. Many will have to work to get out of credit card debt at the same time.

Student loans 40

Student loans Student Loans Credit Card Debt Loans 40

Collection Industry News

JANUARY 29, 2021

51 MILLION ACCRUED ADDITIONAL CREDIT CARD DEBT SINCE BEGINNING OF COVID-19 PANDEMIC. CNN) – Most adults in the United States with credit card debt accrued more debt since the start of the pandemic. More than half reported adding to their credit card debt since last March.

Credit Card Debt 40

Credit Card Debt Collections Education 40

Nexa Collect

JUNE 26, 2023

This makes it difficult for individuals and families to keep up with expenses such as housing, healthcare, and education. Educational Expenses : The cost of higher education in the US is among the highest in the world. This can lead to stress as individuals worry about making monthly payments and possibly accruing more debt.

Healthcare 130

Healthcare Education Student loans Student Loans 130

Roths Child Law

AUGUST 14, 2023

Graduates may have received grants and awards to help pay for their education, but many have student loans hanging over their heads. When it comes to repaying credit card companies after graduation along with those student loans, a lot of graduates struggle to repay their debts. One common solution to debt is bankruptcy.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Student loans 52

Sawin & Shea

JULY 27, 2022

Primarily, it could result in your debt becoming ineligible for discharge, which is often the whole point of filing for bankruptcy. So in many cases, running your credit card debt up is not worth it. Understanding Credit Card Debt and Bankruptcy. Running Up Credit Card Debt Prior to Bankruptcy.

Bankruptcy 72

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Credit Card Debt 72

Sawin & Shea

JULY 28, 2021

Credit card debts: Although credit card debt dropped in 2020 (possibly because of Covid and the fact that people were staying at home), the average household credit card debt is $ 5,315. These are called unscheduled debts.). That’s 530,000 families per year in the United States.

Bankruptcy 105

Bankruptcy Credit Card Debt Chapter 13 bankruptcy Chapter 7 bankruptcy 105

Direct Recovery

MARCH 22, 2020

No matter where you stand on details like who should pay for it and what exactly should be required, almost everyone can agree that we are doing our children a serious disservice by sending them out into the world without any education on how to handle their personal finances. Lower Credit Card Debt. Higher Credit Scores.

Credit Card Debt 52

Credit Card Debt Education Student loans Student Loans 52

True Accord

AUGUST 11, 2022

In order to address this gap, lenders are in a unique position to help provide customers with educational content that not only improves customers’ financial literacy but helps with their own retention and acquisition strategies by building and maintaining customer trust and loyalty. Debt levels are on the rise again: according to the?

Acquisition 61

Acquisition Debt Recovery Education Student loans 61

Credit Corp

OCTOBER 15, 2020

Clever Girl Finance is a financial resource platform with an active, educational blog and a wide range of free resources and courses, all specifically for women. Books cover topics such as saving, paying off credit card debt and increasing your credit score, and you can also purchase a number of workbooks.

Education 105

Education Credit Card Debt 105

Fico Collections

AUGUST 16, 2021

Mix in the fact that many consumers – enabled, in part, by historic levels of savings at least partly driven by government stimulus such as enhanced unemployment benefits – have shifted their focus to paying down their credit card debt, and the result is a greater than 10% decrease in the average credit card balance and utilization of the U.S.

Consumer Credit 98

Consumer Credit Lender Credit Card Debt Education 98

Titan Consulting

JUNE 7, 2020

Benefits include the following: Suspension of Monthly Payments : The US Department of Education automatically suspended payments on outstanding federal student loans. Payment relief includes both direct and FFEL (Federal Family Education Loans) loans and lasts through September 30, 2020. About Titan Consulting Group.

Student loans 64

Student loans Student Loans Loans Accrued Interest 64

Better Credit Blog

APRIL 11, 2022

Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. In these situations, debt is considered positive mainly because your financial objective has value and long-term benefits. This list should include any personal loans, mortgages, car leases, and credit card debt.

Debt Consolidation 74

Debt Consolidation Debt settlement Credit Card Debt Bankruptcy 74

Sawin & Shea

AUGUST 24, 2020

Bankruptcy may affect your credit score (it sometimes can make your score better!), Whether or not you file for bankruptcy also depends on the kind of debt you have. Also, it’s important to note that you should write the debt collector and ask them to stop contacting you. but it can also help give you a fresh start.

Chapter 13 bankruptcy 98

Chapter 13 bankruptcy Bankruptcy Chapter 7 bankruptcy Debt collector 98

Albuquerque Law

JULY 30, 2020

Struggling with debt can be an overwhelming weight to carry. Whether it is credit card debt, medical debt, mortgage debt or a combination of many, New Mexico families want to find debt relief as soon as possible and return to what is important in life without worry.

Chapter 7 bankruptcy 44

Chapter 7 bankruptcy Bankruptcy Credit Card Debt Creditors 44

FFGN COLLECT NY

DECEMBER 12, 2023

Suppose you are under constant pressure from these agencies and their legal representatives to settle your debt. In this case, you should uphold your consumer rights to ensure ethical practices during the debt collection process.

Debtor 52

Debtor Debt collector Debt Buying Original Creditor 52

Troutman Sanders

JULY 11, 2023

The defendants also pitched a credit card debt elimination service, and alleged that they could access funds from the government or from a lawsuit against the credit card industry to pay off consumers’ credit card debt. Abusive Telemarketing Acts or Practices).

Financial services 40

Financial services Student loans Student Loans Credit Card Debt 40

Credit Corp

MAY 10, 2023

Below, we’ve investigated Americans’ average savings by age, income, and education level to give you a better understanding of how much money you might expect to have saved at each chapter of your life. How Much Does the Average American Have in Savings?

Education 98

Education Debt Consolidation Credit Card Debt Collections 98

Titan Consulting

SEPTEMBER 22, 2020

To qualify for credit counseling, you must be able to repay the full balance owed plus some interest of the unsecured debt within 60 months. Additionally, consumers must complete an approved financial education and budgeting course to complete the program. The post Is Debt Settlement Legit?

Debt settlement 98

Debt settlement Bankruptcy Unsecured Debt Credit Card Debt 98

Albuquerque Law

JULY 30, 2020

Struggling with debt can be an overwhelming weight to carry. Whether it is credit card debt, medical debt, mortgage debt or a combination of many, New Mexico families want to find debt relief as soon as possible and return to what is important in life without worry.

Chapter 7 bankruptcy 40

Chapter 7 bankruptcy Bankruptcy Credit Card Debt Creditors 40

Titan Consulting

AUGUST 23, 2020

If you do not qualify for a Chapter 7 bankruptcy to liquidate your debts, you may be required to pay back a significant portion of your debts under a Chapter 13 Bankruptcy, and still suffer the negative impact to your credit score. Contact us today at (888) 488-4517 or Apply Online now.

Chapter 13 bankruptcy 86

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

Credit Corp

JUNE 24, 2021

Plus, you won’t have to worry about piling on even more credit card debt! If you’re planning to finance your child’s education, you may also want to consider a 529 plan. Even if your child decides to ultimately not pursue a higher education, these funds can be potentially used or withdrawn in a number of ways.

Education 97

Education Credit Card Debt Retail Loans 97

Credit Corp

MAY 1, 2024

A reputable credit repair company helps you understand your credit report and provides guidance on how to improve your credit score. They may also assist in disputing inaccuracies on your report with credit bureaus and provide educational resources to help you manage your finances responsibly.

Law Firms 52

Law Firms Creditors Credit Bureau Loans 52

Credit Corp

JULY 9, 2021

This incredibly high number is mostly composed of financial situations relating to peoples’ homes, vehicles, and loans taken out to pursue higher education. The average American home owes around $6,270 in credit card debt. You may also be relieved to hear that you’re not out of options if you have past due debt.

Debt settlement 98

Debt settlement Credit Card Debt Debt collector Lender 98

Sawin & Shea

APRIL 10, 2024

The bankruptcy trustee will sell your non-exempt assets to pay a portion of your debts to creditors. You’ll then be able to discharge the balance of eligible debts, such as credit card debt and medical bills. Even if you can’t fully pay creditors, you will still be able to discharge your eligible debts.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Debtor Unsecured Creditor 52

Better Credit Blog

JANUARY 20, 2022

This is why many people engage the services of a debt relief agency. TransUnion calculates that paying off $5,000 of credit card debt at the minimum rate costs $10,000 in interest. The fees you can expect to pay for Freedom Debt Relief’s services range from 15–25%. National Debt Relief vs. Freedom Debt Relief.

Creditors 76

Creditors Credit Card Debt Unsecured Debt Debt settlement 76

Troutman Sanders

MAY 9, 2023

On May 1, the Federal Trade Commission (FTC) announced a permanent ban from debt relief telemarketing for operators of debt relief scam. The FTC charged the defendants with taking tens of millions of dollars from people by falsely promising to eliminate or substantially reduce their credit card debt.

Financial services 52

Financial services Student loans Student Loans Loans 52

National Service Bureau

JUNE 23, 2015

trillion of auto loan debt in fourth quarter 2013, rising to $0.95 Auto loans, like credit card debt, can fall under financial institution collections. Here are the numbers from fourth quarter 2014: Credit card debt: $0.70 So, how is this information relevant to those in the debt collection industry?

Student loans 40

Student loans Student Loans Credit Card Debt Collection Agencies 40

Taurus Collect

JANUARY 24, 2023

By understanding the strategies used by debt collection companies, you can get ahead financially and protect yourself from becoming overwhelmed by unmanageable piles of unpaid bills in the future. Making the Most Out of Tax Season to Tackle Your Debts Whether it’s student loans, mortgages, or credit cards, debt is a reality.

Collections 52

Collections Collection Companies Debt collector Debtor 52

Credit Corp

JUNE 5, 2021

Paid off all high-interest credit card debt. When consumers invest in education, for example, they can get a higher paying job. Like any investment, it’s essential to start with a little due diligence when considering investing in education. Have a fully-funded emergency fund. When It’s Time to Invest Your 100k.

Education 98

Education Trade Consolidate Debt Startups 98

Credit Corp

APRIL 29, 2021

It’s become the norm for people to have a lot of credit card debt while only paying the minimum balance. This loss is mainly due to the lack of financial education passed along with the generational wealth. Hence, all generations need to educate the youth about personal finance! Save Money.

Student loans 105

Student loans Student Loans Loans Education 105

Sawin & Shea

MARCH 27, 2024

You must complete credit counseling within 180 days of filing your petition, and you’ll need to complete a debtor education course after your Meeting of Creditors. After completing your required courses and undergoing the liquidation process, you’ll be able to discharge certain debts.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Chapter 13 bankruptcy Creditors 52

Fico Collections

JUNE 27, 2022

million over their working lifetimes; double that for individuals with higher education and more lucrative occupations. credit cards for 27% of all transactions with average credit card debt of $3352. Borrows for education 55% of the time, at an average of $37,200. According to the 2020 U.S.

Banks 52

Banks Auto Insurance Education Credit Card Debt 52

Troutman Sanders

OCTOBER 30, 2023

On October 25, the CFPB released its biennial report to Congress on the consumer credit card market. The report found that in 2022 credit card companies charged consumers more than $105 billion in interest and more than $25 billion in fees.

Financial services 52

Financial services Financial Institution Trade Banks 52

Better Credit Blog

DECEMBER 22, 2021

. “Since personal loans typically come with lower interest rates than credit cards, a debt consolidation loan can lower the cost of your debt — which means you won’t have to pay as much to close your accounts,” says Anna Serio, Finder’s lending expert and certified Commercial Loan Officer.

Debt Consolidation 65

Debt Consolidation Loans Lender Student loans 65

Credit Corp

JUNE 12, 2021

Financial freedom is mental, emotional, and education process.”. Formal education will make you a living; self-education will make you a fortune.”. The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind.” – T.T.

Education 96

Education Credit Card Debt Acquisition Loans 96

Credit Corp

JUNE 1, 2021

Include a line item in the budget for any credit card debt. Pay Student Loan Debt. Department of Education has extended loan payment forbearance, zero percent interest accrual, tax-free employer contribution benefits, and its pause on collections. Eliminate or Avoid Any Credit Card Debt.

Student loans 97

Student loans Student Loans Credit Card Debt Loans 97

Credit Corp

MARCH 30, 2023

The investing information provided is for educational purposes only. As a way to minimize your risk and be fully aware of the risks you’re taking, it’s helpful to educate yourself further on each investment and gauge your personal knowledge. We recommend consulting a financial professional before investing.

Credit Unions 98

Credit Unions Credit Unions Government Trade 98