Collection Industry News

MAY 11, 2021

Additionally, research examining the first several months of the pandemic showed that “delinquencies as reported in credit bureau data declined, credit card debt fell even for financially vulnerable consumers, bank account balances rose, and survey-based measures of financial conditions rose.”.

Credit Card Debt 40

Credit Card Debt Credit Bureau Banks Collections 40

Credit Corp

JUNE 29, 2020

These cards are easier to qualify for, and you can use them to make purchases, just like traditional credit cards, while also establishing some credit history. OpenSky® Secured Visa® Credit Card. on Capital Bank's secure website. Card Details. Credit Needed: Fair-Poor-Bad-No Credit.

Loans 98

Loans Credit Bureau Creditors Creditworthiness 98

Credit Corp

FEBRUARY 25, 2021

Monitoring your credit is one of the best ways to learn what will positively or negatively impact your scores. You can check your credit report for free annually with each major credit bureau. As you review your report, look for any negative or inaccurate information that could be screwing up your credit.

Loans 92

Loans Credit Bureau Creditors Creditworthiness 92

Credit Corp

MARCH 30, 2023

The credit bureau Experian® describes compound interest as “when interest gets added to the principal amount invested or borrowed, and then the interest rate applies to the new (larger) principal.” Risk level: Very low How to invest: Banks, credit unions, and online banks Potential returns: Moderate 2.

Credit Unions 98

Credit Unions Credit Unions Government Trade 98

Titan Consulting

AUGUST 17, 2020

The credit card agreement allows companies to lower limits without notice, and servicers frequently reduce lines of credit as a risk reduction strategy in a recession. During the 2008 Great Recession, 20% of banks lowered credit limits of prime borrowers, and 60% cut limits for subprime borrowers.

Lender 60

Lender Debt Consolidation Loans Creditors 60

Fico Collections

MAY 19, 2021

From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. What Is First-Party Fraud?

Collection Agencies 52

Collection Agencies Collections Agency Banks Financial services 52

Collection Industry News

MARCH 30, 2025

Increasing consumer debt levels are likely to propel the growth of the debt collection agencies market forward. Due to rising living expenses, easier access to credit, and post-pandemic reliance on loans, consumer debt levels are increasing. increase compared to the fourth quarter of 2023.

Collection Agencies 40

Collection Agencies Collections Agency Collections Financial Institution 40

Collection Industry News

JULY 25, 2022

If you’ve ever been late with a credit card payment and thought that late fee you got popped with was steep, you’re one of 42 million Americans [1] who will face that dilemma in 2022. Credit card companies’ penalty policies cost consumers around $12 billion each year. In fact, the U.S.

Credit Counselor 40

Credit Counselor Credit Card Debt Debt Management Lender 40

Fico Collections

JANUARY 15, 2021

However, the potential financial “fall out” of missing a payment, charging credit cards up to and over their limit or opening several new credit accounts over a short period of time can have a negative impact on the scores. For additional resources on protecting your credit during COVID-19, visit ficoscore.com/coronavirus.

Lender 59

Lender Loans Consumer Credit Credit Card Debt 59