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Q3 Industry Insights: Preparing for Credit Card Bills, Student Loans and Holiday Spending

True Accord

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. in August , lower than the expected 0.2%

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10 year ban for dodgy Director

UK debt collections

Grigorijs Hacaturjancs, 34, originally from Latvia, has been disqualified as a director for 10 years after fraudulently claiming a £50,000 Bounce Back Loan. Grigorijs Hacaturjancs was director of Beauty & Melody Shop Ltd which was incorporated in 2015 and operated as an online retailer for hair and beauty products.

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UK Credit Market Report June 2021: Spending Tops 2019 Level

Fico Collections

As the UK was only just coming out of lockdown in June 2020, this rise in spend is unsurprising, but the fact that average spending was 3.5% (£23) above 2019 levels suggests that, for those who have been able to save through the pandemic, there is confidence in their future financial stability. month on month. Missed payment rates remain low.

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Debt Collection Now and Post-Covid

Nexa Collect

For example, consider leisure and hospitality workers, whose employment fell by over 20% compared to 2019, or book retailers and news dealers, who recorded a 48.9% drop from 2019. The next 6 to 12 months are going to be an uphill battle for creditors. Source: US Bureau of Labor Statistics.

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Back to School Finances for Parents: How to Finance Your Child’s Education

Credit Corp

According to the National Retail Foundation, the cost of returning to public school is about $697 per household every year. In 2019, here’s how those expenses broke down on average: $117 on school supplies $200 on technology devices, computers, or related fees $136 on shoes $240 on clothing, not including shoes. Card Details.

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Winners of 2021 FICO Decisions Awards Announced

Fico Collections

This year the 12 winners have demonstrated extraordinary innovation in very different industries and markets. . During the country’s lockdown, $700 million in loans were signed up using the service. David Dittmann , vice president, Data & Analytics, P&G (2019 winner). Read the full OCBC story here. Debt Management.

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Leveraging DDA Data in Consumer Lending to Stay Competitive

Fico Collections

We found that preliminary credit performance on those booked loans exceeded what was expected from the increase in the score itself, albeit on limited data. However, you conducted a test where you offered ALL applicants for a retail credit product the opportunity to provide DDA data permissioned by them for consideration.

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