Collections Consumer Credit Credit Card Debt Retail 
Collection Industry News
AUGUST 17, 2023
The report shows a slight uptick in total household debt in the second quarter of 2023, increasing by $16 billion (0.1%) to $17.06 The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel. Other balances, which include retail cards and other consumer loans, increased by $15 billion.
Collection Industry News
JANUARY 30, 2024
The national credit card balance stands at $1.08 Some retail cards now charge upwards of 30%. Learn more: Best credit cards of 2023 “It was hard to imagine that growing debt, rising inflation and sky-high interest rates weren’t eventually going to take a toll,” said Matt Schulz, chief credit analyst at LendingTree.
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Collection Industry News
DECEMBER 21, 2022
News & World Report shows that more than eight in 10 Americans who have credit card debt are experiencing anywhere from a little to a lot of anxiety about it. Nearly 31% have at least $6,000 of credit card debt. have credit card debt of $10,000 or more.
Fico Collections
OCTOBER 15, 2020
And that’s because it generally takes a few months for the effects of that event and the accompanying financial strain to start to show up in consumers’ credit reports, in the form of rising balances, credit seeking behavior, and eventually for some, missed payments. As of July 2020, U.S. FICO® Score over the coming months.
Collection Industry News
OCTOBER 17, 2023
Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher. Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Federally chartered credit unions have an 18% limit. For example, Sen.
Fico Collections
OCTOBER 15, 2020
And that’s because it generally takes a few months for the effects of that event and the accompanying financial strain to start to show up in consumers’ credit reports, in the form of rising balances, credit seeking behavior, and eventually for some, missed payments. As of July 2020, U.S. FICO® Score over the coming months.
Troutman Sanders
OCTOBER 30, 2023
This bill would instruct the Consumer Financial Protection Bureau (CFPB) and the Government Accountability Office to conduct a study on BNPL and EWA services to help determine the degree to which consumers are utilizing both services for retail purchases. For more information, click here. For more information, click here.
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