Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. million of third-party debt is set to expire early 2021. million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. By Jerrold L.

Bankruptcy 45

Bankruptcy Creditors Debtor Lawyers 45

Troutman Sanders

MARCH 10, 2021

This case was brought on behalf of a class of 72 female sales professionals employed by clothing retailer John Varvatos Enterprises, Inc. 772 (GWG), 2021 WL 95914, at *1 (S.D.N.Y. 772 (GWG), 2021 WL 95914, at *1 (S.D.N.Y. 772 (GWG), 2021 WL 608345, at *2 (S.D.N.Y. John Varvatos Enterprises Inc. ,

Judgment 52

Judgment Bankruptcy Retail 52

UK debt collections

OCTOBER 15, 2021

The research also claims that 12% of Small Businesses wait more than 60 days for payment and 2% more than 90. The Financial Services and Retail sectors top the charts for longest payment delays with a shocking 33% of all invoices going unpaid in September alone. This is according to market research conducted on their behalf.

Collections 79

Collections Bankruptcy Retail Collection Agencies 79

Nexa Collect

APRIL 11, 2021

In November of 2020, some Harvard economists calculated that the pandemic would cost the US at least $16 trillion, provided it ended by fall of 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% drop from 2019.

Collections 130

Collections Collection Agencies Collections Agency Construction 130

True Accord

OCTOBER 10, 2023

On a 12-month basis, the annual increase for core PCE was 3.9%, matching the forecast and coming in as the smallest monthly increase since November 2020. Other balances, including retail credit cards and other consumer loans, and auto loans also increased by $15 billion and $20 billion, respectively. trillion in Q2, a 4.6% a year ago.

Student loans 82

Student loans Student Loans Loans Personal loans 82

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 for 793,400 borrowers since October 2021. For more information, click here. For more information, click here.

Financial services 52

Financial services Credit Unions Credit Unions Financial Institution 52

True Accord

JANUARY 10, 2024

Other balances, which include retail cards and other consumer loans, increased by $2 billion. About 116,000 consumers had a bankruptcy notation added to their credit reports in Q3, slightly more than in the previous quarter. the lowest reading since April 2021. In October, the first month of resumed payments, 8.8 in November.

Student loans 58

Student loans Student Loans Loans Banks 58