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Cosigner Responsibilities: When Is a Cosigner Liable for a Debt?

Sawin & Shea

It’s often necessary for risky or low-credit borrowers to have a co-signer in order to secure a loan or another form of debt. When a borrower applies for a loan or credit card, the lender will assess their creditworthiness by looking at their income, credit score, and debt-to-income ratio.

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The Growth Potential of the Debt Collection Industry: An In-Depth Analysis

Collection Industry News

Data Analytics and Predictive Modeling: Data analytics and predictive modeling have become essential tools for debt collection agencies. Analyzing vast amounts of data allows agencies to identify trends, assess debtor creditworthiness, and predict repayment probabilities.

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Dealing with Debt Collectors

Debt Free Colorado

It is prohibited for debt collectors to utilize unfair techniques, harass, or deceive consumers while seeking to collect consumer debts under the federal Fair Debt Collection Practices Act (FDCPA). The Fair Debt Collection Practices Act (FDCPA) applies to collection firms and debt collectors attempting to recover consumer debts.

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Charged Off as Bad Debt: An Explainer

Credit Corp

When your debt is charged off as a bad debt, don’t fool yourself into thinking it goes away. A charged off debt can lead to harassing phone calls, garnished wages, and a major drop in your credit score. Credit card debt was more likely to be charged off than other forms of debt.