Collection Industry News

OCTOBER 10, 2022

The CFPB released a special edition of Supervisory Highlights on student loan servicing practices of loan servicers and schools lending to students directly. This practice creates a powerful mechanism to enforce payment demands, as consumers who cannot obtain transcripts could lose future educational- and job opportunities.

Student loans 40

Student loans Student Loans Lender Loans 40

The Kaplan Group

NOVEMBER 7, 2023

Qualifications for Women-Owned Business Loans/Grants Numerous loan programs and grant opportunities are accessible to women entrepreneurs, each characterized by its own set of requirements and criteria. Loans also adhere to specific guidelines that may not be influenced by whether you are a woman.

Loans 52

Loans Lender Banks Collateral 52

Troutman Sanders

OCTOBER 4, 2022

On September 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released a special edition of its Supervisory Highlights , focusing on student loan servicing. It’s time to open up the books on institutional student lending to ensure all students with private student loans are not harmed by illegal practices.”.

Student loans 52

Student loans Student Loans Loans Education 52

Fico Collections

SEPTEMBER 15, 2022

Saudi Credit Bureau Delivers Access To Loans For Millions with Score. Vision, Advocacy And Education. This growth in Saudi financial inclusion was made possible by SIMAH’s advocacy efforts with financial institutions and a parallel education campaign with consumers. “We Educating Consumers And Addressing False Narratives.

Credit Bureau 52

Credit Bureau Loans Lender Education 52

Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

Student loans 52

Student loans Student Loans Bankruptcy Chapter 7 bankruptcy 52

Better Credit Blog

MAY 11, 2022

million people carry some form of student loan debt, with most averaging around $39,000 —although many of us have a lot more. Refinancing your student loans could help lower your monthly payments and reduce your overall repayment amount. But finding a good lender can feel intimidating when you don’t know what to look for.

Student loans 71

Student loans Student Loans Loans Lender 71

Credit Corp

MARCH 9, 2021

Going through student loan repayments can be a hassle. However, due to the COVID-19 pandemic, student loan payments and collection attempts have been paused until September 30, 2021. This means you have more time to find ways to repay your student loans before you have a defaulted loan. Table of Contents.

Student loans 98

Student loans Student Loans Loans Garnishment 98

Credit Corp

MARCH 21, 2023

According to the Federal Reserve, 4 in 10 people who go to college incur debt to pay for their education. Currently, individuals with outstanding student loan debt owe as much as $100,000 or more, with more than 40% owing between $20,000 and $99,999. If you’re struggling with student loan debt, you certainly aren’t alone.

Student loans 92

Student loans Student Loans Loans Lender 92

Troutman Sanders

APRIL 18, 2022

On April 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a report titled Student Loan Borrowers Potentially At-Risk when Payment Suspension Ends. Pre-pandemic payment assistance on student loans. Pre-pandemic payment assistance on student loans. Multiple student loan servicers.

Student loans 52

Student loans Student Loans Loans Financial Institution 52

Troutman Sanders

APRIL 2, 2021

The Sixth Circuit recently confirmed student loan servicers, who begin servicing debts after default and resale, are not liable to borrowers under the Fair Debt Collection Practices Act (FDCPA) because the servicers are not acting as “debt collectors.”. the Sixth Circuit affirmed summary judgment for student loan servicer Nelnet, Inc.

Student loans 52

Student loans Student Loans Loans Debt collector 52

Collection Industry News

FEBRUARY 7, 2022

BOSTON — Navient, a major student loan collecting company, agreed to cancel $1.7 Forbearance is when lenders allow borrowers to pause or reduce payments for a limited time while they build back their finances. In addition to forgiving tens of thousands of loans, Navient will pay $142.5 The company agreed to cancel $1.7

Student loans 52

Student loans Student Loans Loans Education 52

Troutman Sanders

APRIL 14, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled “ Busting myths about bankruptcy and private student loans.” In the blog post, the CFPB argues that certain private education loans can be discharged in bankruptcy. Loans to a student attending school less-than-half-time.

Student loans 52

Student loans Student Loans Bankruptcy Loans 52

Titan Consulting

JUNE 7, 2020

Congress recently passed legislation in the CARES act that provides direct and indirect benefits to Federal Student Loan borrowers. Benefits include a suspension of payments, no negative credit reporting, no collection activity, and no accrual if interest until September 30, 2020. Help Available for Borrowers with Student Loans.

Student loans 64

Student loans Student Loans Loans Accrued Interest 64

Collection Industry News

OCTOBER 3, 2022

Arkansas is one of seven states in which canceled student loan debt may be treated as taxable income, but whether it is, student loan forgiveness is expected to create a tax burden shift from the borrowers. Recently, President Joe Biden announced plans to cancel up to $20,000 in student loan debt, depending on borrowers’ income.

Student loans 40

Student loans Student Loans Loans Education 40

The Kaplan Group

MAY 3, 2022

Jump To A Section: Qualifications for Veteran Business Loans/Grants Different Types of Loans Available For Veterans How To Apply to Business Loans Veteran Business Loans FAQ More Business Credit and Loan Resources For Veterans. Qualifications for Veteran Business Loans/Grants.

Loans 52

Loans Lender Credit Unions Credit Unions 52

Collection Industry News

APRIL 11, 2022

The student loan crisis is a hot topic of conversation in Washington because student debt is felt by a lot of us, 45 million of us to be exact, for a total debt of 1.6 We often break our pink piggy bank that says student loan on it, in an attempt to pay back our debts. The history of student loans. Privatized student loans.

Student loans 40

Student loans Student Loans Loans Education 40

Collection Industry News

APRIL 11, 2022

Student loan companies will face consequences if they mislead borrowers and collect on private debt that has been discharged by a bankruptcy court , according to a letter sent by the country’s top consumer watchdog to Senator Dick Durbin (D-IL) that was obtained by Yahoo Finance. “I Source- site.

Student loans 40

Student loans Student Loans Bankruptcy Loans 40

Fico Collections

JULY 12, 2021

Loans, grants, and job protection schemes provided by governments around the world during the past 18 months have eased the financial burden of the pandemic, for both businesses and their consumers. Lenders have benefitted from state measures which have so far helped limit near-term loan defaults. Digital-First Collections.

Collections 52

Collections Lender Repossession Banks 52

Collection Industry News

AUGUST 6, 2023

Federal student loan borrowers have had a break from paying back their student loans for over three years now. Over 50% of borrowers added debt on regular credit cards during the student loan payment pause and another 31% racked up balances on retail cards, a recent TransUnion analysis found. From October 2023 through Sept.

Student loans 40

Student loans Student Loans Credit Card Debt Loans 40

Collection Industry News

APRIL 18, 2022

On April 12, the Consumer Financial Protection Bureau (CFPB) released a blog post titled “ Busting myths about bankruptcy and private student loans.” In the blog post, the CFPB argues that certain private education loans can be discharged in bankruptcy. Loans to a student attending school less-than-half-time.

Student loans 40

Student loans Student Loans Bankruptcy Loans 40

Debt Guru

JANUARY 27, 2020

Higher education is a noble pursuit. But if you can’t pay and remain in delinquency for a certain amount of time (for federal loans, the time frame is typically nine months without making a payment), your lender will declare the loan in default. . Unfortunately, in the US, it’s also a pricey one.

Student loans 64

Student loans Student Loans Loans Lender 64

Credit Corp

AUGUST 23, 2021

It’s a common scenario: You apply for a personal loan or credit card and get denied. The reason seems shrouded in mystery, and you receive a letter with language such as “lack of recent installment loan information” or “proportion of balances to credit limits.” 8 Common Reasons You Were Denied Credit.

Lender 104

Lender Loans Personal loans Trade 104

Collection Industry News

OCTOBER 25, 2021

(BFF), a provider of student income share arrangements, and LendUp, an online, subprime consumer lender. The BFF and LendUp actions reflect the CFPB’s renewed focus on educational loans and subprime consumer loans, a trend expected to intensify under newly confirmed CFPB Director Rohit Chopra. (BFF),

Loans 40

Loans Education Student loans Student Loans 40

Collection Industry News

AUGUST 30, 2022

The Biden administration has confirmed that student loan forgiveness won’t be a taxable event at the federal level for borrowers. President Biden announced last week a sweeping, wide-scale student loan forgiveness initiative. Student Loan Forgiveness and Taxation. Biden’s Student Loan Forgiveness Is Not Taxable Federally.

Student loans 40

Student loans Student Loans Loans Education 40

Collection Industry News

AUGUST 30, 2022

Many student loan borrowers and consumer advocates breathed a sigh of relief Wednesday that the promise of student loan forgiveness was finally becoming a reality. But for businesses trying to turn a profit on managing these loans, the uncertainty looms large. trillion student loan balance in the U.S.,

Student loans 40

Student loans Student Loans Loans Education 40

Collection Industry News

MAY 23, 2022

and student loan servicer Navient Solutions agreed to a settlement that will result in the cancelation of more than $3.5 million in student debt for New Hampshire student loan borrowers, according to the state’s Department of Justice. STUDENT LOAN DEBT HITS NEW RECORD HIGH, BUT HERE’S HOW YOU CAN NAVIGATE REPAYMENT.

Student loans 40

Student loans Student Loans Loans Lender 40

Troutman Sanders

JANUARY 20, 2022

On January 13, a coalition of 39 state attorneys general — led by AGs from Pennsylvania, Washington, Illinois, Massachusetts, and California — reached a settlement with student loan servicer Navient over allegedly unfair, deceptive, and abusive student loan origination and servicing practices.

Student loans 52

Student loans Student Loans Loans Lender 52

Troutman Sanders

FEBRUARY 13, 2024

Gemini had alleged that Genesis pledged more than 61 million shares of Grayscale to secure loans, then defaulted on the loans. The case, Department of Agriculture Rural Development Rural Housing Service (USDA) Kirtz , involved a borrower who claimed the USDA inaccurately reported his loan as “past due,” damaging his credit score.

Financial services 52

Financial services Student loans Student Loans Collection Agencies 52

True Accord

JANUARY 10, 2024

If you’re a creditor or collector working with financially distressed borrowers, considering consumer situations against the economic landscape and accommodating their financial needs and preferences when collecting is critical to your success. million borrowers missed their student loan payment —that’s 40% of loan holders.

Student loans 58

Student loans Student Loans Loans Banks 58

Collection Industry News

JULY 28, 2020

The federal government’s emergency relief for more than 40 million student loan borrowers is set to expire at the end of September, amid sky-high levels of unemployment and an overall economy still stifled by rising coronavirus cases. The department is already preparing to send warnings to borrowers, starting Aug.

Student loans 40

Student loans Student Loans Loans Education 40

True Accord

AUGUST 11, 2022

August 14 is National Financial Awareness Day , making it an appropriate time to shine a spotlight on initiatives that can help improve consumer financial awareness in the collections space. New York Federal Reserve , between the national student loan debt topping $1.6 Debt levels are on the rise again: according to the?

Acquisition 61

Acquisition Debt Recovery Education Student loans 61

Better Credit Blog

FEBRUARY 15, 2021

Are collections accounts weighing heavily on your credit report? If you’ve fallen behind on any of your accounts, you could find Fairway Collections on your credit report. As long as the collections entry stays on your report, it’s hurting your score. About Fairway Collections. Self-pay collections.

Collections 74

Collections Collection Agencies Collections Agency Debt collector 74

Taurus Collect

MARCH 5, 2024

Engaging with a debt collections service is a crucial step towards managing and settling outstanding debts. This article aims to demystify the consequences of overlooking debt collectors and to provide insights into how debt collection services operate within the UK’s legal framework.

Debt collector 52

Debt collector Asset liquidation Debtor Education 52

Credit Corp

FEBRUARY 23, 2024

An example of zombie debt is a three-year-old loan that should be paid off. This guide will teach you how to deal with debt collectors and educate you on the laws relating to outstanding debt. Key Takeaways: Zombie debt arises based on collection agencies. However, this does not influence our evaluations.

Collection Agencies 52

Collection Agencies Collections Agency Debt collector Fair Debt Collection 52

True Accord

JULY 13, 2023

The ending of various pandemic-era benefits including the pause on student loan payments will impact consumers in the coming months. Read on for our take on what’s impacting consumer finances and our industry, how consumers are reacting, and what else you should be considering as it relates to debt collection in 2023. NPAS, Inc.,

Financial Institution 66

Financial Institution Student loans Student Loans Loans 66

Collection Industry News

MAY 16, 2022

Borrowing federal student loans is about to get more expensive. Federal student loan interest rates are tied to the 10-year Treasury note and determined using a formula set by federal law. The new fixed interest rates will be: 4.99% for direct subsidized and unsubsidized undergraduate loans. 7.54% for grad and parent PLUS loans.

Student loans 40

Student loans Student Loans Loans Lender 40

Credit Corp

FEBRUARY 16, 2023

That includes more opportunities for loans and credit—often at better rates. The survey collected a total of 1,005 responses per question and results are not statistically representative of the general population. When you know where you stand with regard to credit, you can apply for the right types of credit cards, loans and leases.

Student loans 105

Student loans Student Loans Loans Lender 105