True Accord
OCTOBER 10, 2023
Economic stressors persist and are likely contributing to many consumers relying on credit to cover expenses, while the resumption of student loan payments adds another financial obligation to the mix. trillion in student debt under the CARES Act, student loan payments resume this month. a year ago.
Collection Industry News
AUGUST 17, 2023
Other balances, which include retail cards and other consumer loans, increased by $15 billion. Auto loan balances rose by $20 billion, consistent with the upward trajectory seen since 2011. Student loan balances fell by $35 billion and stood at $1.57 Student Loans Outstanding student loan debt stood at $1.57
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Collection Industry News
JANUARY 13, 2024
household debt grew by $800 million from 2022 to 2023, including a 16.6% growth in credit card debt. While the new year marks a time for new beginnings and a fresh start, millions of Americans entered 2024 with more debt and less to put in their checking and savings accounts. At the start of the year, U.S.
Collection Industry News
MAY 19, 2023
During the first quarter, the increases in debt were seen across practically all categories, with larger (and new record) balances for mortgages, home equity lines of credit, auto loans, student loans, retail cards and other consumer loans.
Credit Corp
MAY 1, 2024
For example, if you notice you buy something every time you receive a weekly email from your favorite retailer, consider unsubscribing from the retailer’s email list. If your long-term goal is to pay off your credit card debt , a good short-term goal might be to pay off one credit card with a $500 balance.
True Accord
JANUARY 10, 2024
The fourth quarter marked the resumption of student loan payments for 22 million Americans, but repayment results were low. million borrowers missed their student loan payment —that’s 40% of loan holders. Breaking it down, credit card balances increased by $48 billion to $1.08 a year ago.
Credit Corp
JUNE 27, 2021
High credit scores imply that you have settled outstanding credit on time in the past. That’s why you’re charged lower interest rates on credit card balances you carry or loans you have. It doesn’t matter if you’re looking for a personal loan, mortgage, student loan, or are carrying a balance on your credit card.
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