Collection Industry News

JANUARY 25, 2024

finances, which have become a source of tension in a politically divided Washington that could possibly see parts of the government shutdown without an annual budget in place. The Congressional Budget Office’s January 2020 projections had gross federal debt eclipsing $34 trillion in fiscal year 2029. Foreign buyers of U.S.

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UK debt collections

DECEMBER 21, 2021

compared to 891 in November 2020. Between 26th June 2020 and 30th November 2021, in England & Wales, 15 moratoriums were obtained and 10 companies had a restructuring plan registered at Companies House. These two new procedures were created by the Corporate Insolvency and Governance Act 2020.

Trade 59

Trade Creditors Collection Agencies Collections Agency 59

Price Meese

JANUARY 16, 2021

Purcell | December 30, 2020. The second article will provide an overview of two recent FCC Orders that respond to these issues and provide clarity as well as further constraints on local government review of minor wireless facility modifications. By Gregory D. Meese and Edward W. Pedro Salaverria. 1455(a)(1). 1.40001(b)(7)(i).

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Collection Industry News

OCTOBER 10, 2023

The yield on the benchmark 10-year U.S. federal government ended its fiscal year in September with a budget deficit of almost $1.7 The country’s debt has swelled by more than $10 trillion since the onset of the Covid-19 pandemic in the first quarter of 2020, prompting a deluge of fiscal stimulus to help prop up the economy. “The

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Government Banks Collections 40

Troutman Sanders

NOVEMBER 16, 2021

Federal Activities: On November 10, the Consumer Financial Protection Bureau (CFPB) joined other government agencies to announced a return to enforcement of critical protections for families and homeowners. The guidance officially ends the adjustments put into place in April 2020. On November 10, U.S. Legislation S.4281a/A.585a

Financial services 52

Financial services Government Consumer Credit Original Creditor 52

BN Lawyers

JUNE 12, 2020

On June 11, 2020, the New York City Department of Consumer Affairs (“DCA”) released amendments to its debt collection regulations aimed at addressing communications with consumers who may have limited English proficiency (the “Amendments”). Fast forward to June 11 th when, to the industry’s surprise, these Amendments were published.

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Government Debt collector Collections Creditors 52

Fico Collections

AUGUST 29, 2022

Looking back to 2020, the average FICO® Score increased most notably for consumers with FICO® Scores between 550 and 699. For example, consumers with FICO® Scores between 550 and 599 saw a score increase of up to 20 points from April 2020 to April 2021. who had at least one new account on file as of April 2020.

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Credit Bureau Government Lender Loans 98

UK debt collections

MAY 23, 2022

The rebound in insolvencies in 2021 and 2022 is in contrast to the artificial low recorded in 2020. It forecasts insolvencies will rise by 10%, 33% and 21% next year for Germany, France and Italy respectively. It forecasts overall business insolvencies will increase by 10% in 2022 and 14% in 2023.

Trade 59

Trade Construction Government 59

UK debt collections

APRIL 20, 2021

Conversely, Individual Voluntary Arrangements (IVAs), used by individuals in personal financial difficulty, were up 24% for the three months to the end of March 2021, compared to the three-month period ending March 2020. This comprised 883 CVLs, 25 compulsory liquidations, 74 administrations and 10 CVAs. Corporate insolvencies.

Government 59

Government Trade Creditors Banks 59

Fico Collections

JUNE 14, 2021

Missed payments were still below historical trends, probably due to increased savings and government support, which continues to blur the picture of card users struggling with debt issues, making it more difficult for lenders to manage. As April 2020 was a lockdown month, it is not surprising to see sales are 22 percent higher year on year.

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PBWT

AUGUST 24, 2020

I don’t know if Congress foresaw, when it enacted new Subchapter V of Chapter 11 of the Code [1] in the Small Business Reorganization Act of 2019 (“SBRA”), that debtors in pending cases would seek to convert or redesignate their cases as Subchapter V cases when SBRA became effective on February 19, 2020, but it was foreseeable.

Debtor 65

Debtor Bankruptcy Creditors Government 65

Price Meese

JUNE 30, 2021

Furthermore, now that the public health emergency has expired, it will be necessary to calculate the expiration date for certain permits tolled for the last 15 months pursuant to the Permit Extension Act of 2020, P.L. 8, 2020, would be tolled during the “COVID-19 Extension Period.” 10:4-1 et seq., 10:4-1 et seq.,

Government 52

Government Foreclosure Healthcare 52

Nexa Collect

APRIL 11, 2021

During peak Covid-19 duration (May-Nov 2020) many states prohibited debt collection for several months. The turnaround came the following year, during tax refund season as the debt recovery levels went up substantially ( March/April 2020). Recoveries dropped to a mere 50% of the normal levels. In 2013, it was at 88%.

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Collections Collection Agencies Collections Agency Construction 130

Fico Collections

AUGUST 16, 2021

This is eight points higher than it was one year ago, and five points higher than the last time we reported on the average FICO Score in October 2020. For example, for those consumers who had a FICO Score value between 550-599 as of January 2020 (pre-pandemic), their average score has gone up from 581 as of April 2020 to 601 as of April 2021.

Consumer Credit 98

Consumer Credit Lender Credit Card Debt Education 98

Credit Corp

APRIL 11, 2023

Transamerica Institute ) In 2020, the average age of retirement across OECD countries for people who entered the job market at the age of 22 was 63.4 OECD ) In 2020, more men (47.8 Transamerica Institute ) The median amount employees contributed to their 401(k) in 2020 was $3,599. In 2020, more men (47.8 OECD ) Among U.S.

Education 98

Education Government Loans 98

Credit Corp

JANUARY 19, 2021

As of November 2020, the IRS had received more than 168 million tax returns for the 2019 tax year. 10 Steps for Doing Taxes Yourself. File Electronically 10. In 2020, the federal government extended the filing and payment deadlines for 2019 taxes until July 2020. Understand the Filing Deadlines 2.

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Government 106

Fico Collections

MARCH 21, 2023

Here are a few key takeaways about how the secondary market sees the overall state of the economy, the role of credit scores in securitization, and the upcoming transition to FICO® Score 10 T in the conforming mortgage market. Secondary mortgage market participants expect a U.S. recession in 2023.

Financial Institution 52

Financial Institution Financial services Lender Consumer Credit 52

Troutman Sanders

MAY 16, 2022

Federal Activities: On May 12 and May 10, the House Financial Services and Senate Banking Committees, respectively, held hearings with Financial Stability Oversight Council (FSOC) Chairwoman Secretary Yellen to discuss FSOC’s annual report to Congress. State Activities. Privacy and Cybersecurity Activities. For more information, click here.

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Financial services Foreclosure Lender Judgment 52

Troutman Sanders

SEPTEMBER 14, 2020

Federal Activities: On September 10, 2020, the Criminal Division of the Justice Department announced that it had reached 57 criminal prosecutions for fraud in connection with the Paycheck Protection Program in under six months since its enactment. State Activities. Privacy and Cybersecurity Activities. Attorneys around the country.

Financial services 52

Financial services Collections Trade Lender 52

UK debt collections

MAY 13, 2021

It was made via money claims online and the address used in the particulars of claim was 10 Downing Street. The date of the judgment is the 20th October 2020 and it is unsure if any action was taken to enforce collection of the Unpaid CCJ.

Judgment 64

Judgment Government Loans Lender 64

UK debt collections

MARCH 18, 2021

Today- even with many government support measures still in place – we are seeing roughly three times that amount: 135,000.”. Data on 01 January 2020. 10 or less. 10 or less. During more normal circumstances, we expect between 40,000 and 50,000 companies to trigger one of our negative health markers. Data on 01 March 2021.

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Manufacturing Construction Retail Collection Agencies 87

PBWT

AUGUST 13, 2020

” [3] By intervening in the bankruptcy case, the NAACP hopes to protect communities of color from the repetition of “the long-storied history of [the] government’s disproportionate treatment of communities of color.” The NAACP’s motion is scheduled for a hearing on August 26, 2020. Motion at 10.

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Bankruptcy Debtor Lawyers Government 65

Troutman Sanders

DECEMBER 8, 2022

They provide the example of a claim with a contract date of January 1, 2020, a judgment date of December 1, 2022, a garnishment application filing of December 2, 2022, a writ of garnishment on December 5, 2022, and service of the writ on December 6, 2022.

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Credit Corp

MAY 2, 2021

And already in the first quarter of 2020, reports of fraud and identity theft are up 20.1% The least common was government documents or benefit fraud at 3.54%. Top 10 metropolitan areas with highest identity theft per 100,000 residents – data. Top 10 metropolitan areas with lowest identity theft per 100,000 residents – data.

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Trade Government 98

Collection Industry News

JANUARY 5, 2023

Meanwhile, significant changes are coming in July to the existing Public Service Loan Forgiveness program that aids government and nonprofit workers. The Department of Education received about 26 million applications for debt relief by the time a federal district court judge struck down the program on November 10.

Student loans 40

Student loans Student Loans Loans Education 40

Burr Forman

JANUARY 11, 2021

The President signed new stimulus legislation into law on December 27, 2020. As before, the maximum PPP loan is $10 million. Experienced a reduction of 25% or more in gross receipts for any 2020 quarter as compared to the same quarter in 2019. Forgiven 2020 PPP loans are not included in 2020 gross receipts for these purposes.

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Loans Financial Institution Trade Government 52

Troutman Sanders

FEBRUARY 14, 2022

FinCEN therefore is currently in the midst of enacting new regulations under the Anti-Money Laundering Act of 2020 (AML Act), which will seek to address threats, such as corruption and anti-terrorism, while also taking a proactive approach against crimes tied to ransomware, digital assets, and strategic corruption. For example, the U.S.

Financial Institution 52

Financial Institution Government Banks 52

Credit Corp

AUGUST 5, 2020

By the end of May 2020, more than 40 million people had filed unemployment claims due to COVID-19 and the resulting economic shutdowns. Governments, charities, and even creditors scrambled to put programs in place to support people during this time while also mitigating future economic fallout.

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Creditors Creditworthiness Lender Credit Bureau 106

Collection Industry News

MARCH 7, 2022

The federal government established eviction moratoriums to protect renters and appropriated nearly $50 billion in emergency rental assistance to help renters make payments, and many states and local governments supplemented these efforts as well. Census Bureau’s 2020 American Community Survey and the U.S.

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Government Retail Education Lender 98

Fico Collections

OCTOBER 26, 2022

Wed, 10/26/2022 - 15:00. There are rules governing citizens’ exposure to myriad potentially harmful actions, and decisions made by unsafe algorithms should not be overlooked. It also requires a rigorous AI governance framework, in order to demonstrate adherence to established standards and auditable AI in deploying these tools.

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Credit Corp

AUGUST 4, 2020

Grants, scholarships and government programs can all be used to aid your pursuit of higher education. For the academic year 2019–2020, those costs exceeded $10,000. In the last 10 years alone, tuition and fees for four-year public schools have increased $2,020, while costs for four-year private schools have grown $6,210.

Loans 96

Loans Student loans Student Loans Government 96

Burr Forman

DECEMBER 4, 2020

As 2020 comes to a close, it would be an understatement to say that the COVID-19 pandemic has significantly impacted the way we conduct business and live our everyday lives. In March of 2020, Burr published an article discussing the global pandemic’s impact on collection practices. State Responses.

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Financial Institution Garnishment Collections Foreclosure 52

Collection Industry News

SEPTEMBER 14, 2021

trillion spending measure, would fund a new bureau over 10 years to address “unfair or deceptive acts or practices relating to privacy, data security, identity theft, data abuses, and related matters,” according to a summary released by the House Energy and Commerce Committee. The proposal, which Democrats plan to include in a $3.5

Manufacturing 40

Manufacturing Trade Government Loans 40

Click Notices

MAY 11, 2020

She has four children, Kiyah, 26, who works for MNPPCC, Cornell, 24, a marine in the United States Marine Corps, Kae’ Lyn 21, a recent graduate from Capitol Technology University Class of 2020, and Skylar, 9, student and tween. Family is of the utmost importance to LaTonya.

Judgment 52

Judgment Government 52

Titan Consulting

AUGUST 23, 2020

Bankruptcy will destroy your credit and remain on your credit report for up to 10 years. When government assistance is not providing enough income to cover job losses, should you file for bankruptcy or hold out for the economic recovery? A bankruptcy temporarily destroys your credit and remains on your credit report for up to 10 years.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 86

PBWT

APRIL 6, 2021

A recent 10 th Circuit decision shows why. In February 2020, the debtor moved to convert his case to chapter 7, alleging that he had insufficient funds to independently pay his defense attorney. Conversions of chapter 11 cases are governed by Bankruptcy Code section 1112. Unsecured Creditors Committee et al. , ” Id.

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Unsecured Creditor Debtor Bankruptcy Creditors 65

ABI

JANUARY 13, 2022

1] However, the undue hardship requirement does not apply to all student loans; section 523(a)(8) generally applies to a loan guaranteed by the government or funded by the government or a nonprofit institution. [2] 10] However, the court was persuaded by the authority concluding that the burden is on the creditor. [11]

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Debtor Loans Student loans Student Loans 40