Collection Industry News

JANUARY 13, 2024

Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% A lower interest rate would allow some borrowers to refinance high-interest loans.

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PBWT

OCTOBER 27, 2021

But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. Post-petition, the debtor operated as a debtor-in-possession and, with the consent of one its largest pre-petition lenders, used cash collateral from its retail locations to continue operating. Bankruptcy Judge Joseph N.

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Creditors Debtor Collateral Unsecured Creditor 59

Better Credit Blog

JANUARY 21, 2021

General Electric Capital Retail Bank, abbreviated as GECRB, is the former name for Synchrony Bank, and it’s probably on your report because you applied for a Synchrony card at some point in the past. It offers a range of products, like MMAs, IRAs, CDs, loans, and credit cards. Pre-qualify for a loan offer. Ashley Furniture.

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Retail Banks Loans Repossession 52

Troutman Sanders

JANUARY 23, 2024

On January 19, the Federal Court of Appeals for the Third Circuit ordered the bankruptcy court adjudicating the bankruptcy of FTX to appoint an examiner to investigate the collapse of the digital asset exchange. billion in additional student loan debt relief for 73,600 borrowers. For more information, click here.

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Debt RR

DECEMBER 13, 2019

Refinancing typically lowers monthly payments and interest rates in exchange for lengthening the timeframe of the loan. Just like individuals, businesses often have mortgages, vehicle loans, and other secured loans. It’s a last-ditch effort to avoid a Chapter 7 liquidation bankruptcy. Past-Due Secured Debt.

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Chapter 7 bankruptcy Bankruptcy Creditors Retail 43

Better Credit Blog

AUGUST 7, 2020

Whether you’re in the market for a mortgage, auto loan, or credit card, your application can result in a hard inquiry on your credit report, which can damage your credit score for years. Synchrony offers several financial products, from CDs, MMAs, and IRAs to credit cards and loans through partnerships with other lenders. Charge offs.

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Retail Lender Debt collector Banks 52

True Accord

JANUARY 10, 2024

The fourth quarter marked the resumption of student loan payments for 22 million Americans, but repayment results were low. million borrowers missed their student loan payment —that’s 40% of loan holders. quarterly increase while auto loan balances rose by $13 billion and now stand at $1.6 a year ago.

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Student loans Student Loans Loans Banks 58

Fraser

JULY 7, 2020

While much attention has been paid to the struggles of businesses, such as restaurants and retail establishments, to survive the economic downturn wrought by the COVID-19 pandemic, those who lend to such businesses for the purchase of real estate are also dealing with the fallout.

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Lender Foreclosure Bankruptcy Loans 41

Better Credit Blog

DECEMBER 31, 2020

Whenever you apply for a retail credit card, it can lower your credit score by a few points and result in a new entry being added to your report. Citi is a popular bank that provides credit cards for a wide range of retail stores like The Home Depot. Project Loan. Bankruptcy. In most cases, that’s nothing to worry about.

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Retail Lender Loans Repossession 52

Credit Corp

JANUARY 28, 2021

GameStop, a dying video game retailer, has blown past epic proportions to the point of hitting all-time highs in the stock market. Before its euphoric rise, GameStop was on a slow demise to bankruptcy, as it faced significant challenges to its business model from the internet. That’s a ~1700 percent increase!

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Better Credit Blog

NOVEMBER 17, 2020

It can show up on your report as a hard inquiry when you apply for a credit card or a loan from a popular bank. Along with providing savings and CD accounts, Barclays offers personal loans by invitation in partnership with other companies. Any time you apply for a credit card or a loan, you can expect a hard credit check.

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Personal loans Loans Banks Foreclosure 75

Nexa Collect

APRIL 11, 2021

For example, consider leisure and hospitality workers, whose employment fell by over 20% compared to 2019, or book retailers and news dealers, who recorded a 48.9% The levels of employment started spinning down at the beginning of 2020 with some industries hit so badly, it’s hard to believe they’ll take less than a few years to recover.

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Troutman Sanders

NOVEMBER 21, 2023

On November 16, the Justice Department, in close coordination with the Department of Education, announced a successful first year of the new process for handling cases in which individuals seek to discharge their federal student loans in bankruptcy. For more information, click here. For more information, click here.

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Financial services Retail Banks Collections 52

Better Credit Blog

DECEMBER 18, 2020

The entry is most likely on your report as a hard inquiry, which happens when you apply for a retail credit card. Comenity Bank is one of the nation’s leading producers of branded retail credit cards, with over 145 cards on offer. Bankruptcy. Only apply for cards or loans you’re likely to get approved for. Hard Inquiry.

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Retail Lender Loans Repossession 52

Burr Forman

JANUARY 6, 2021

Max has experience representing investment banks, commercial banks, financial institutions and other commercial lenders in the origination of debt secured by real estate assets of all types, including office, retail, hotel, apartment, condominium, industrial and self-storage properties.

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Financial Institution Retail Bankruptcy Banks 40

Better Credit Blog

JANUARY 22, 2021

Department Stores National Bank issues retail credit cards for shoppers at Macy’s and Bloomingdale’s. If you applied for one of these retail credit cards, whether in-store or online, you signed off on a hard inquiry. Your credit report gets hit with a hard inquiry when you apply for a credit card, loan, or a line of credit.

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Retail Repossession Lender Banks 52

Better Credit Blog

DECEMBER 9, 2020

Belk/Synchrony Bank may show up on your report if you apply for a Belk retail credit card. Belk is one of the dozens of retailers that Synchrony Bank has a partnership with. Get pre-approved for a loan offer or credit card. Hard pulls happen when you apply for funding such as a mortgage, car loan, or credit card.

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Banks Retail Repossession Lender 52

Credit Corp

OCTOBER 12, 2021

Only with a strong budget, entrepreneurs can hope for the following: Minimizing bankruptcy risks Avoid problems with suppliers Have an effective entry into new markets. If this is overlooked, the risks of bankruptcy increase, since the business is not sustainable. Need a Small Business Loan? Costs due to the return of goods.

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Startups Bankruptcy Retail Loans 106

UK debt collections

JUNE 10, 2022

Leading online UK fast-fashion retailer Missguided has been served with a winding up petition due to unpaid debts. I have had to take out loans of about £100,000 secured with my property to cover the debts, we’re struggling like mad. My wife’s jewellery, given to her to her mum at our wedding – she sold that.

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Retail Creditors Repossession Manufacturing 52

Better Credit Blog

NOVEMBER 25, 2020

It is most popular for its credit cards, partnering with dozens of big-name service providers and retailers to offer rewarding credit cards. Abt Electronics is a popular appliance and electronics retailer that offers 6, 12, and 24-month financing with its Synchrony credit cards. Charge offs. Debt collectors. Foreclosure. Repossession.

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Retail Repossession Loans Foreclosure 52

Better Credit Blog

DECEMBER 31, 2020

While VCTRSSEC might sound unfamiliar, it represents a popular retailer: Victoria’s Secret. Comenity Bank is a premier producer of retail credit cards, partnering with 145 popular brands to offer credit cards to consumers. Bankruptcy. Stay up-to-date on credit card/loan payments. Late payment history. Debt in collections.

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Banks Retail Lender Repossession 89

Better Credit Blog

OCTOBER 28, 2020

When you apply for a credit card or loan, it can lead to a hard credit check, which lowers your score. Its credit card offerings are among its most popular products, as the bank partners with dozens of retailers, including Toys R Us. On the other hand, a hard check occurs when you actually apply for credit or a loan. Charge off.

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Retail Banks Repossession Foreclosure 40

Better Credit Blog

DECEMBER 2, 2020

Badcock is a large furniture retailer with more than 320 stores across 8 different states. Like many retailers, it offers financing for its products. For instance, whenever you check your score with a credit monitoring site or get pre-approved for loan offers, a soft inquiry takes place. How Does Badcock Credit Work?

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Retail Repossession Loans Foreclosure 52

Collection Industry News

JULY 4, 2022

Morgan Chase reported that auto loan and lease originations were $8.4 Elsewhere, platforms like CarMax reported in its most recent results that its net loans originated in the most recent period stood at $2.44 We’re already seeing some impact from inflation and the vagaries of the macro-economy, where, for instance, J.P.

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Lender Loans Retail Banks 40

Credit Corp

MAY 4, 2021

For instance, if you’re a compulsive shopper, delete retail apps and turn off push notifications for sales. For instance, work on getting rid of your high-interest credit card debt before moving on to your federal student loans. Consider Bankruptcy as a Last Resort. The thought of filing for bankruptcy might seem scary.

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Credit Card Debt Bankruptcy Lender Student loans 98

Better Credit Blog

NOVEMBER 23, 2020

While you might expect a credit check when you apply for a loan, many consumers don’t realize that background checks can result in a hard credit check as well. The company also provides retail, commercial, and automotive screening, but on a smaller scale. Complete all of your applications for the same type of loan within 14 days.

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Loans Lender Legal Rights Foreclosure 52

Better Credit Blog

JANUARY 5, 2021

Did you apply for a Home Depot credit card, loan, or credit account? When you apply for a card or loan from The Home Depot, you’re actually applying with Citibank. Citi is a massive provider of retail credit cards and accounts. Project Loan. Bankruptcy. Home Depot CBNA On My Credit Report. Commercial Account.

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Retail Loans Repossession Lender 52

Better Credit Blog

JANUARY 5, 2021

Did you apply for a Home Depot credit card, loan, or credit account? When you apply for a card or loan from The Home Depot, you’re actually applying with Citibank. Citi is a massive provider of retail credit cards and accounts, they partner with The Home Depot and dozens of other popular companies. Project Loan.

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Retail Loans Repossession Lender 52

Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Soft inquiries occur when you view your score, shop for quotes, or are pre-approved for a loan or credit card. Even more, they can assist you with challenging credit problems like: Bankruptcy.

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Lender Repossession Loans Foreclosure 52

Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Soft inquiries occur when you view your score, shop for quotes, or are pre-approved for a loan or credit card. Even more, they can assist you with challenging credit problems like: Bankruptcy.

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Lender Repossession Loans Foreclosure 52

Better Credit Blog

JANUARY 15, 2021

As such, it may show up on your credit report as a hard inquiry when you apply for a loan, credit card, or line of credit. When your credit report is accessed in the application process for a loan, a hard inquiry is placed on your credit report. Installment loans. Retail financing. Get pre-approved for a loan.

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Lender Loans Debt Recovery Foreclosure 52

Collection Industry News

OCTOBER 21, 2022

Although less exposed to risky property loans than before the 2007-2008 global financial crisis, banks are already on alert for breaches in loan terms linked to an asset’s market value or the rental income relative to the debt secured on it, sources said. UK REITs are using less leverage now than before the financial crisis.

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Retail Lender Loans Acquisition 40

Troutman Sanders

OCTOBER 4, 2022

On September 29, the Consumer Financial Protection Bureau (CFPB) released a special edition of Supervisory Highlights on recent examination findings, covering the practices of student loan servicers and schools that lend to students directly. On September 29, an independent examiner was appointed in the Celsius bankruptcy case.

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Financial services Trade Retail Banks 52

Better Credit Blog

NOVEMBER 19, 2020

They also have partnerships with major retailers nationwide like TJ Maxx, with whom they issue rewards credit cards. A soft pull happens when you go online to check your score, compare quotes for a loan, or get pre-approved for offers. Some of the issues they can help out with include: Bankruptcy. A hard pull is more invasive.

Lender 52

Lender Loans Repossession Banks 52

Troutman Sanders

JANUARY 17, 2023

In November 2022, Genesis announced that it will prohibit retail investors from withdrawing their cryptocurrency deposits from Gemini Earn accounts due to liquidity risks. Supreme Court in support of the Biden administration’s student loan forgiveness plan.

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Financial services Student loans Student Loans Education 52

Better Credit Blog

JANUARY 6, 2021

The popular retailer provides two credit card options: The Brooks Card and the Brooks Brothers Platinum Mastercard. As such, this type of inquiry happens when you apply for credit cards, as well as loans and lines of credit. These businesses are adept at tackling big and small credit issues, including: Bankruptcy. Charge-offs.

Lender 52

Lender Loans Repossession Foreclosure 52

Troutman Sanders

JULY 26, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. For more information, click here. For more information, click here. For more information, click here.

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Financial services Student loans Student Loans Garnishment 52