Collection Industry News

APRIL 13, 2023

New YorkCNN — Bed Bath & Beyond, the store for seemingly everything in your home during the 1990s and 2000s, filed for bankruptcy on Sunday. The company secured a $240 million loan to help fund its operations during bankruptcy. A bankruptcy filing does not necessarily mean that a company is going out of business.

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PBWT

SEPTEMBER 28, 2022

Now the country awaits the outcome of the union member votes (which we may not know until mid-November), but even if the members approve the deal, the retail sector will still face empty shelves, job vacancies and surging inflation. In fact, the retail industry has been facing economic headwinds for years.

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Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. 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. million of third-party debt is set to expire early 2021. By Jerrold L.

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BN Lawyers

APRIL 1, 2019

A gasoline retailer defaults on its obligations under an ongoing Franchise Agreement that it has with a brand name in the oil & gas industry. How about if the franchisee/retailer files for bankruptcy protection? It is intended to protect distributors and retailers. Franchisors are commonly characterized as suppliers.

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PBWT

FEBRUARY 5, 2023

This post is about a junkyard, hogs getting slaughtered, and a bankruptcy judge poised to sanction a creditor and her counsel. Administrative expense claims are governed by Bankruptcy Code section 503(b)(1)(A). ” As is discussed below, the focus is on what benefits the bankruptcy estate, not on what a claimant asserts it lost.

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ABI

JANUARY 19, 2024

4] Under the Ground Lease, Debtor was responsible for hiring and paying contractors for developing the retail portion of the George Washington Bridge Bus Station. [5] 6] Following missed payments by Debtor to Tutor Perini, Debtor and Tutor Perini went into arbitration. Matthew Hanauer St. 26] [1] 11 U.S.C. § 365(b)(1)(A)–(C). [2]

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UK debt collections

OCTOBER 15, 2021

It has long been known that Late Payments threaten the well being of Small Businesses. New invoicing app players ‘Tomato Pay’ claim that 84% of Small Businesses are currently suffering from late payments. The research also claims that 12% of Small Businesses wait more than 60 days for payment and 2% more than 90.

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Collection Industry News

DECEMBER 13, 2023

Shoppers can purchase anything from a $3,253 Jil Sander leather tote bag marked 30% off from luxury retailer Farfetch (FTCH.N), to groceries from Walmart (WMT.N) Walmart in 2021 scrapped its layaway program, which allowed people to take home merchandise after completing a series of financed payments.

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PBWT

MARCH 28, 2022

Bankruptcy protection allowed debtors to shed their massive tort liabilities through the creation of litigation trusts that would be funded in exchange for non-consensual third-party releases. This approach became so widely accepted that it is now codified in the Bankruptcy Code. Mahwah Bergen Retail Group, Inc. See 11 U.S.C. §

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Nexa Collect

APRIL 11, 2021

The number of those actually furnishing payment information to the consumer reporting agencies has decreased in the last 10 years. A report released by the Consumer Financial Protection Bureau placed the number of reported payments on credit card accounts at 40% in 2020. In 2013, it was at 88%. drop from 2019.

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Collection Industry News

JUNE 7, 2021

Private label credit card performance will continue to be hampered by the bankruptcies of some large partner retailers, tied not only to the accelerated surge in e-commerce in the wake of COVID-19, but to the longer-term trend of mall closings since 2010. Also factoring in are the changing payment preferences of Millennials and Gen Z.

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True Accord

OCTOBER 10, 2023

Economic stressors persist and are likely contributing to many consumers relying on credit to cover expenses, while the resumption of student loan payments adds another financial obligation to the mix. After three years of relief from payments on $1.6 Credit card balances increased by $45 billion from Q1 2023 to a series high of $1.03

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Credit Corp

MAY 4, 2021

You try your best to make your payments, but interest charges eat up all your progress. Don’t forget to include debt payments, too. For instance, if you’re a compulsive shopper, delete retail apps and turn off push notifications for sales. Paying the minimum payment due on your debts will ensure you avoid late fees.

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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. A company with large debt payments may still have cash flow coming into the business. These unsecured debts come in the form of payments for goods and services already received, royalties, commissions, or salaries.

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Burr Forman

FEBRUARY 15, 2021

SlideBelts is an internet retail company and debtor in bankruptcy. The False Claims Act allows the government to recover damages and penalties for the presentation of false claims for payment to the United States. SlideBelts Inc. received a PPP loan under the CARES Act.

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Better Credit Blog

JANUARY 21, 2021

Several factors can influence your credit score, such as your credit utilization and payment history. 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. Delinquent payments.

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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. It is claimed that Office workers at the online brand have stopped answering the phones as angry suppliers and debt collection agencies continually call demanding payment, a source within the company claims.

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PBWT

JUNE 23, 2020

and most of its affiliates filed for bankruptcy on May 22, 2020. This was just one corporate failure among many in the midst of the COVID-19 pandemic; but, a novel strategy by Hertz to raise capital to fund its bankruptcy has raised eyebrows instead. per share the first trading day after the bankruptcy case was filed.

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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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Troutman Sanders

NOVEMBER 21, 2023

Barr expects FedNow and real-time payments to co-exist, with banks choosing which rail to route payments through. The new guidance strengthens risk assessment standards for coin-listing policies and introduces enhanced requirements specifically for retail consumer-facing businesses. For more information, click here.

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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. For more information, click here. For more information, click here. billion in IDR relief for 930,500 borrowers.

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Troutman Sanders

OCTOBER 4, 2022

Notably, the SEC alleged that Chavez misappropriated the majority of investor funds to finance his unrelated real estate company and extravagant lifestyle, while also maintaining the illusion of CryptoFX’s prosperity through significant Ponzi payments. On September 29, an independent examiner was appointed in the Celsius bankruptcy case.

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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. In the meantime, Varvatos declared bankruptcy, though the bankruptcy court lifted the automatic stay as to the case. Varvatos moved for judgment as a matter of law, a new trial, or remittitur.

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Collections Law

NOVEMBER 4, 2021

This works best when your debtor is a cash-heavy business, such as a retail store or restaurant. The benefit is that you know you have a secure payment source once you do win your judgment. This might be especially helpful if the customer heads into bankruptcy, which could make collections much more difficult.

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Collection Industry News

JANUARY 13, 2024

Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% Such a move could potentially decrease monthly debt payments and the total cost of loans. Consider bankruptcy: Don’t be scared. Call a bankruptcy attorney for a free consultation.

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Better Credit Blog

AUGUST 7, 2020

A lot of things can impact your credit score, from your payment history to the amount of available credit you use. If you’ve come across the name SYNCB on your credit report, it’s probably because you applied for a credit card with the bank or one of its popular retail partners. Late payments. What Is SYNCB? American Eagle.

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True Accord

JANUARY 10, 2024

The fourth quarter marked the resumption of student loan payments for 22 million Americans, but repayment results were low. In October, the first month of resumed payments, 8.8 million borrowers missed their student loan payment —that’s 40% of loan holders. Breaking it down, credit card balances increased by $48 billion to $1.08

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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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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. Late payment history. Bankruptcy. Stay up-to-date on credit card/loan payments. Foreclosures.

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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. A credit repair company can be of assistance when you’re facing several other issues, including: Bankruptcy.

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Better Credit Blog

OCTOBER 16, 2020

With the tips below, you could be on your way to improving your credit score and getting your payment history back on track. Retail debt. Second, you should try to negotiate a lower payment amount to settle your debt, starting negotiations somewhere around 30-50% of your total balance. What Is Asset Acceptance LLC?

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Troutman Sanders

DECEMBER 27, 2022

Federal Activities: On December 23, the Federal Trade Commission (FTC) issued a proposed consent order, requiring Mastercard to end a practice that allegedly forced merchants to route debit card payments through Mastercard’s payment network in violation of the Durbin Amendment to the Dodd-Frank Act and Regulation II.

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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. Alternately, you can apply for one-time interest-free financing, with 6, 12, and 24-month payment plans, which are subject to credit approval. Poor payment history.

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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. However, if you did not apply for a retail credit card, you could be the victim of identity theft or faulty reporting. Poor payment history.

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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. Cb/Vicscrt On My Credit Report. Charge offs. Debt in collections. Foreclosure.

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Better Credit Blog

OCTOBER 21, 2020

Calling the agency and making them a payment (or calling them at all) might not be in your best interest. ARI collects on a variety of debts, like: Bankruptcy. Retail debt. When you fall behind on payments, your debt could be turned over to a collections agency like ARI. Before you pay ARI a penny, read on. Utility bills.

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Better Credit Blog

OCTOBER 21, 2020

Calling the agency and making them a payment (or calling them at all) might not be in your best interest. ARI collects on a variety of debts, like: Bankruptcy. Retail debt. When you fall behind on payments, your debt could be turned over to a collections agency like ARI. Before you pay ARI a penny, read on. Utility bills.

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