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

Credit Card Debt 40

Credit Card Debt Student loans Student Loans Foreclosure 40

True Accord

MARCH 31, 2022

The four key trends we’re studying are: resumed foreclosure activity, extensive medical bills, the end of child tax credits and historically high inflation. For one, the consumer credit market is looking strong with signs of expansion, specifically, originations for credit cards and personal loans are increasing. million U.S.

Lender 58

Lender Personal loans Foreclosure Loans 58

Troutman Sanders

MARCH 8, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Currently, any student loan debt canceled by the government can be considered taxable and levied at the borrower’s normal income tax rate.

Financial services 52

Financial services Retail Foreclosure Financial Institution 52