Fico Collections

AUGUST 29, 2022

FICO® Score Stays Steady at 716, as Missed Payments and Consumer Debt Rises. Each year, we provide insight into the national average FICO ® Score to help ensure consumers have a baseline measure of credit health standing. consumer reporting agencies (CRAs). Average U.S. by Ethan Dornhelm. expand_less Back To Top.

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Fico Collections

JUNE 1, 2023

Despite the 200k+ workers that have been laid off, the job sector remained strong, and consumers were still spending after the holiday season leading to mild growth in the economy. However, consumer spending slowed in February and March, showing the first signs of stress. The numbers: First quarter 2023 GDP released by the U.S.

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Fico Collections

DECEMBER 6, 2022

The impact to families depends on a wide array of factors from income level to savings to debt-load. Bureau of Economic Analysis showed the market economy grew at an annual pace of 2.6% Bureau of Economic Analysis showed the market economy grew at an annual pace of 2.6% Bureau of Labor Statistics, U.S. by Leanne Marshall.

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Fico Collections

FEBRUARY 21, 2023

Despite lower energy prices, the cost of housing, food and services continues to increase to all-time highs causing consumers to tighten their belts even more than before. Bureau of Economic Analysis showed the economy grew at a pace of 2.1%. What does a recession mean for consumers trying to keep up with their payments?

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Better Credit Blog

OCTOBER 16, 2020

Have a collections entry from Asset Acceptance LLC on your credit report? If Asset Acceptance is on your credit report, it’s probably because you forgot about a bill. It’s important to deal with a collections agency like Asset Acceptance quickly. Credit card debt. What Is Asset Acceptance LLC?

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Fico Collections

JUNE 16, 2022

FICO releases quarterly US Bankcard Industry Benchmarking trends, previously these were published on the FICO Community but going forward will be published on FICO.com blog. The following credit card performance figures represent a national sample of approximately 130 million accounts that comprise FICO® Advisors’ Risk Benchmarking solution.

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Fico Collections

OCTOBER 10, 2022

FICO Fact: Can having no credit score be better for consumers than a low credit score? A low FICO score for a consumer can have the perverse effect of preventing them from having access to a second chance through manual underwriting. Axios recently spoke on the demand to issue out more credit scores.

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Fico Collections

JANUARY 15, 2021

The FICO Blog posts last year reflected that – we wrote about everything from the impact on collections, proactive lender communications with consumers, issues with fraud, and of course, how FICO® Scores were impacted. The COVID-19 pandemic cast a huge shadow on the financial services worldwide.

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Better Credit Blog

APRIL 1, 2022

Read on to find out how to remove an invalid repossession from your credit report. Either kind of repossession hurts your credit score. The negative item could crush your credit score if you have good credit otherwise. This will make your bad credit even worse. In lending terms, this is called repossession.

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Troutman Sanders

APRIL 25, 2022

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. The access occurred in 2017, and the SEC stated the breach “did not impact the actions taken by the staff investigating and prosecuting the cases or the commission’s decision-making in the matters.”

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Troutman Sanders

NOVEMBER 8, 2023

On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to define larger participants that offer digital wallets, payment applications, and similar services.

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Troutman Sanders

MAY 9, 2023

On May 2, the White House published a blog post, titled “The DAME Tax: Making Cryptominers Pay for Cost They Impose on Others.” For more information, click here. On May 4, the White House published technology standard document “United States Government National Standards Strategy for Critical and Emerging Technology.”

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Better Credit Blog

FEBRUARY 17, 2021

Have you found an entry from Bridgeport Financial on your credit report? If so, you probably noticed a drop in your credit score. Also frustrating, the collections agency has likely been sending letters and calling you regularly. Bridgeport Financial is a full-service debt collection agency that was founded in 1994.

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Fico Collections

AUGUST 16, 2022

The following credit card performance figures represent a national sample of approximately 130 million accounts that comprise FICO® Advisors’ Risk Benchmarking solution. The data sample comes from FICO client reports generated by FICO® TRIAD® Customer Manager and Adaptive Control System solutions. Saxon Shirley. by Leanne Marshall.

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Credit Card Debt Retail Financial services Government 52

Better Credit Blog

SEPTEMBER 11, 2020

They can also severely impact your credit score, limiting your future borrowing options for years to come. If General Service Bureau has reached out to you about a debt that you owe them, you may have questions. What Is General Service Bureau? What Is General Service Bureau? Omaha, NE 68134.

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Fico Collections

OCTOBER 28, 2022

FICO Score 10, Most Predictive Credit Score in Canadian Market. FICO Score credit risk trends through the COVID-19 pandemic. Information and data continue to be key tools at our disposal to better understand the dynamics of the last couple of years, and better navigate what lies ahead for the Canadian consumer credit environment.

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Better Credit Blog

APRIL 6, 2022

If you’re ready to tackle improving your credit, a credit repair service can help save you time, energy, and a whole lot of hassle. Credit repair companies challenge items on your credit report that are inaccurate, incomplete, or unverifiable. That’s why we recommend going with a credit repair service.

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Better Credit Blog

FEBRUARY 25, 2021

Are you concerned about an entry from First Federal Credit Control? If the name above is on your credit report, you’ve probably received phone calls and letters from the agency as well. First Federal is most likely on your report as a collections entry because of an unpaid bill. About First Federal Credit Control.

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Better Credit Blog

SEPTEMBER 9, 2020

If you have been contacted by Sunrise Credit Services, you are probably being pursued for an old debt. Sunrise Credit Services is a debt collector that has been hired by your old creditor to collect payment on your debt. This entry can cause trouble for your credit score and future financial decisions.

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Troutman Sanders

MAY 31, 2022

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. On May 26, the CFPB issued a blog post regarding credit reporting disputes and requirements that furnishers must satisfy when handling a dispute. For more information, click here.

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Better Credit Blog

FEBRUARY 2, 2021

Is BGE Collections lowering your credit score? BGE Collections is a debt collection agency. If you fell behind on power payments from Baltimore Gas and Electric Company, their collections department could contact you. Read on for our guide to getting BGE Collections out of your life and off your credit report.

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True Accord

OCTOBER 11, 2022

Whether you’re a startup or an established organization, understanding the laws and regulations that apply to debt collection can be overwhelming. Fortunately, the knowledgeable team at TrueAccord is here to help break down some of the top questions around compliance in the collections industry. This blog is not legal advice.

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Fico Collections

JUNE 11, 2021

Lenders must adopt a similar mindset as they manage the health of their consumer lending portfolios to insulate their existing book of business from potential risk volatility. As we discussed in part 1 of this blog series, FICO® Resilience Index (FRI) was designed with precisely this capability in mind.

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Better Credit Blog

OCTOBER 14, 2020

Has your credit score taken a dive due to debt in collections? When a collections agency like Accelerated Financial Solutions gets access to your debt, it can drop your score and make your day-to-day life more stressful. AFS collects for businesses in several industries, including the following: Commercial debt.

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Better Credit Blog

AUGUST 7, 2020

If you forget to pay a bill, you may begin to hear from a debt collection agency called Credit Control Corp. Credit Control Corp is a debt collection company that collects payment on your debt on behalf of the original creditor. What is Credit Control Corporation? Get Everything in Writing.

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Better Credit Blog

SEPTEMBER 8, 2020

It could only take one missed payment on your car loan, credit card, or phone bill to harm your credit score and wind up on a debt collector like Northland Group’s list. While they aren’t a household name, they collect for some well-known service providers. Credit cards. collecting on debts that the company buys.

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Better Credit Blog

AUGUST 7, 2020

Having a collection account on your credit report for an unpaid debt can damage your credit score for up to seven years, even after you pay it. This can impact your ability to qualify for loans or apply for credit cards. How to Remove Professional Finance Company From Your Credit. or after 9 p.m.

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Better Credit Blog

AUGUST 12, 2020

Missing a payment is a simple slip that can wreak havoc on your credit score and lead to some frustrating phone calls. If you’ve been contacted by 11 Charter Communications or have encountered the name on your credit report, a missed payment on a Charter Spectrum account is likely the culprit. Hire a credit repair company.

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Better Credit Blog

OCTOBER 30, 2020

One debt collector you may hear from is called Global Credit & Collection Corp. They are on-par for collectors in terms of reputation and collection tactics. While this is certainly annoying, it is the least of your concern when it comes to their impact on your long-term financial wellbeing. Know Your Rights.

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Better Credit Blog

FEBRUARY 19, 2021

Is DCM Services lowering your credit score? If DCM Services or DCM Services LLC has recently appeared on your credit report, it’s probably to collect on a delinquent account. Missed payments can result in collections accounts being added to your credit report. How Does DCM Services Work?

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Better Credit Blog

OCTOBER 2, 2020

While it may have only been caused by a simple mistake, debt in collections can have harsh consequences on your credit score and your everyday life. With the pointers below, you can get HRRG taken off your credit report, stop their phone calls, and get your credit score back on track. Hire a credit repair company.

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Better Credit Blog

SEPTEMBER 11, 2020

They have also likely opened a collections account on your credit report. A collections account can damage your credit score for up to seven years – even if you pay off the debt. To limit the impact on your credit score, you need to remove the account from your credit report as soon as possible.

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Better Credit Blog

SEPTEMBER 18, 2020

They are notoriously rude and their presence on your credit report can have a significant impact on your credit health. If you have heard from a debt collector called Southwest Credit Systems recently, you may already be aware of their entry on your credit report. What is Southwest Credit Systems?

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Better Credit Blog

FEBRUARY 17, 2021

Fidelity National Collections is a medical debt collection company that works on behalf of healthcare providers to recover unpaid balances. Apart from their calls and letters, Fidelity Collections can have a detrimental effect on your credit score. About Fidelity National Collections. Get Everything in Writing.

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Collection Industry News

MARCH 8, 2021

PIRG) released a study – “Consumers In Peril” – that reviewed the public complaint database of the Consumer Financial Protection Bureau (CFPB) and found consumer complaints about financial grievances spiked during the COVID-19 pandemic year of 2020. In 2020, each month set a complaint volume record for that month.

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Better Credit Blog

OCTOBER 2, 2020

Have you noticed a company called Aargon Agency Inc shows up on your credit report? Being pursued by Aargon Agency Inc will be accompanied by a collection account on your credit report and a drop in your credit score. You may even be turned down for loans and credit cards because of it.

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Better Credit Blog

JULY 14, 2020

If you have noticed a company called Hunter Warfield to appear on your credit report, you are probably being pursued for an old debt. Collection accounts on your credit report can damage your credit score for up to seven years, even if you pay them off. They may appear as ‘hwarfield’ on your credit report.

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