category debt-collection 
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.
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. household debt reached a record high of $17.3
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Nexa Collect
APRIL 11, 2021
The debt collection industry has been through one of its most difficult periods in modern history, and the recovery looks slow and prolonged. Performance of Collection Agencies during Covid-19 Pandemic. Economic downturns create a huge opportunity for the debt collection industry.
Collection Industry News
MAY 19, 2023
Americans’ debt levels continue to climb to new heights at a time when economic conditions are becoming increasingly less stable. Household debt balances set a fresh record high of $17.05 That debt load has spiked by $2.9 That debt load has spiked by $2.9 Last year, 39% carried debt month to month.
Collection Industry News
AUGUST 17, 2023
NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The report shows a slight uptick in total household debt in the second quarter of 2023, increasing by $16 billion (0.1%) to $17.06 Student loan balances fell by $35 billion and stood at $1.57
Collection Industry News
APRIL 13, 2023
The company secured a $240 million loan to help fund its operations during bankruptcy. Many major US companies have filed for bankruptcy, using it to shed debt and other costs they could no longer afford. The retailer attracted a broad range of customers by selling name brands at cut-rate prices.
True Accord
MARCH 31, 2022
It’s the end of the quarter and, as always, we at TrueAccord are looking at consumer debt trends that will impact our industry and beyond. Add these all together and the financial outlook for consumers, especially those in debt, is scary. But there are silver linings, as well. But there are silver linings, as well.
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