Collection Industry News

MAY 18, 2021

While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. In the letter, Nussle stated, “Lenders rely on complete and accurate credit reports when underwriting loans.

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Better Credit Blog

FEBRUARY 15, 2021

Depending on other factors on your credit score and the extent of your debt, a collections account can drop your score significantly. Equally frustrating, debt collectors may communicate with you frequently, calling you regularly and sending letters in an attempt to collect payment. Foreclosure. Charge-offs.

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Better Credit Blog

JANUARY 29, 2021

There are several excellent credit repair companies that are experts at disputing inaccuracies and improving consumers’ credit scores. Debt collectors. Foreclosure. Credit repair specialists can help you get to the bottom of your credit problems so you can improve your score quickly.

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Better Credit Blog

JANUARY 27, 2021

RentGrow On Your Credit Report. RentGrow is an agency that obtains consumer credit reports for landlords. Whether your biggest concern is a hard inquiry or you’re battling lots of credit problems, they’ll have your back. Here are a few of the credit issues they can help out with: Bad payment history. Foreclosure.

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Troutman Sanders

MAY 9, 2023

On May 4, Colorado Governor Jared Polis signed SB93 into law. HB1443 will go into effect on November 1. HB1349 will take effect on July 23.

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Troutman Sanders

AUGUST 1, 2023

An amendment in the NDAA to update the Fair Debt Collection Practices for Servicemembers Act passed in the Senate by a vote of 95-2. Examiners found that debt collectors continued collection attempts for work-related medical debt after receiving sufficient information to render the debt uncollectible under state worker’s compensation law.

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Troutman Sanders

MAY 2, 2023

Senate Committee on Banking held a full committee hearing, titled “Oversight of the Credit Reporting Agencies.” Chairman Sherrod Brown (D-OH) described consumer credit reports as “riddled with errors.” Brown argued that medical debt “correlates with illness,” not with credit risk. On April 27, the U.S.

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