Collection Industry News

MARCH 22, 2022

SoFi is one of the private student lenders lobbying to stop, or at least curtail, the pandemic-related moratorium on federal student loan payments that is now stretching into a third year. Justin Sullivan/Getty Images. The jockeying comes as President Joe Biden weighs whether to extend the moratorium past May 1.

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Troutman Sanders

NOVEMBER 15, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Senator John Boozman (R-AR) issued a statement, addressing the recent collapse of cryptocurrency exchange FTX.

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Credit Corp

OCTOBER 14, 2021

On top of the need to get your career off the ground, you should also think about how this impending career and salary will help you get your relationship with your personal finances in good shape, as well. Student Loan Repayment. Read More: What is the Average Student Loan Debt? Get Professional Guidance.

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Student loans Student Loans Credit Counselor Loans 97

Better Credit Blog

MAY 17, 2022

One of the benefits of auto loans – which can actually be a problem – is that they’re so easy to get. Most auto loans are straightforward. But there are various types of auto loans that contain different provisions. If you don’t know what they are, you could pay too much for your loan. Auto Loans Can Be “Good Debt”.

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Better Credit Blog

APRIL 2, 2022

Whether you’re making a big purchase or just refinancing some existing debt, a personal loan could help. But comparing loan options could take days — unless you use an online marketplace like Fiona which lets you compare personal loan offers side by side within minutes. How Fiona Loans Work. Fiona Loan Fees.

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Personal loans Loans Student loans Student Loans 80

Credit Corp

SEPTEMBER 16, 2020

Your credit report will reflect how the card is used, even if you’re not the one using it. Credit Builder Loans. Credit builder loans aren’t widely publicized, but they are a great way to build credit without a credit card. You make payments for a set amount of time until the loan is paid. Don’t worry. ExtraCredit.

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Student loans Student Loans Personal loans Loans 105

Better Credit Blog

JULY 12, 2021

Student loans are a pressing issue for so many people who have put themselves through college and other higher education. Luckily, there are options for student loan forgiveness—which can wipe away some or all of what you owe. Here’s what to know when you’re digging into attempting to get your student loan forgiven.

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Student loans Student Loans Loans Education 52

Better Credit Blog

JUNE 1, 2022

Borrowing money costs more when you have bad credit — and your choices for a loan will be limited — which is why we have helped you narrow down your list by finding the top 6 best personal loans for bad credit. Use this time to fix your credit before applying for loans. 6 Best Personal Loans for Bad Credit.

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Credit Corp

JANUARY 29, 2024

This may influence which products we write about and where and how the product appears on a page. Fixed Expenses vs. Variable Expenses Top 12 Budget Categories to Add to Your Plan How Do I Make a Budget? Variable Expenses Top 12 Budget Categories to Add to Your Plan How Do I Make a Budget? What Is a 50/30/20 Budget?

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Auto Insurance Student loans Student Loans Personal loans 59

Collection Industry News

JANUARY 13, 2024

Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% household debt grew by $800 million from 2022 to 2023, including a 16.6% on the year.

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Credit Card Debt Student loans Student Loans Bankruptcy 40

Credit Corp

APRIL 26, 2024

This may influence which products we write about and where and how the product appears on a page. Here, we’ll answer several common questions about this form and explain how canceled debt relates to taxes. Many or all of the products featured here are from our partners who compensate us. Your mortgage is modified.

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Troutman Sanders

NOVEMBER 20, 2023

Assistant Attorney General Clarke offered guidance to lenders on how to avoid redlining practices, based on the DOJ’s past two years of experience: Engage with regulators and promptly implement any recommendations following a fair lending examination. But we are by no means done. SPCPs can be an effective way to help mitigate redlining risk.

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Better Credit Blog

APRIL 1, 2022

The best personal loans charge low fees and low fixed interest rates, have flexible loan amounts and terms, and have no prepayment penalties. A personal loan could let you access cash for any purpose. Since personal loans are unsecured, you’ll need an excellent credit score to get the best deal. Compare Rates Now.

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Better Credit Blog

MAY 4, 2022

These include transferring all your debt onto just one credit card as well as taking out a secured or unsecured personal loan—perhaps with the help of a professional debt consolidation company. In this guide, we’ll walk you through your options and show you how debt consolidation could simplify your repayments and save you money.

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Titan Consulting

AUGUST 23, 2020

Filers can typically retain the home and vehicle as long as you make payments on the loan. Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt. Key Takeaways. Bankruptcy will destroy your credit and remain on your credit report for up to 10 years.

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Troutman Sanders

AUGUST 24, 2020

Secretary of Education Betsy DeVos implemented President Donald Trump’s memorandum extending relief on federally held student loans to borrowers through the end of the year. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. State Activities.

Financial services 52

Financial services Student loans Student Loans Education 52

Collection Industry News

JUNE 14, 2021

President Biden’s nominee to lead the CFPB, Federal Trade Commission member Rohit Chopra, was the bureau’s first student loan ombudsman under former CFPB Director Richard Cordray and is expected to return the bureau to its former place at the forefront of consumer protection in financial services.

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Credit Corp

AUGUST 8, 2021

Here’s how to invest $1,000 in real estate, whether you’re just getting started or simply want to diversify your existing investments. How to Invest $1,000 in Real Estate. At the risk of stating the obvious, real estate costs a lot. That makes it expensive to invest in, and difficult to diversify among real estate investments.

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Troutman Sanders

AUGUST 21, 2023

On August 16, the Small Business Administration (SBA) announced the availability of low-interest disaster loans to businesses and residents across the nation, including Mississippi, Illinois, New Jersey, and Oklahoma. For more information, click here. On August 16, Coinbase Financial Markets, Inc. customers access to crypto futures.

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Troutman Sanders

DECEMBER 28, 2023

On December 20, the Consumer Financial Protection Bureau (CFPB) and the Justice Department sued Colony Ridge, for allegedly operating an illegal land sales scheme and targeting Hispanic borrowers with false statements and predatory loans. For more information, click here. For more information, click here. For more information, click here.

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Troutman Sanders

APRIL 26, 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. Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge.

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Financial services Debt collector Loans Banks 52

Better Credit Blog

MAY 27, 2022

Home equity loans allow you to borrow funds against the existing equity on your property. Homeowners use these loans to fund home renovations, student loans, and high-value purchases or consolidate high-interest debt. If you’re considering a home equity loan, check out our pick of the best loan providers below.

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Loans Lender Banks Credit Unions 56

Troutman Sanders

JUNE 14, 2023

For more information, click here. The proposed guidanceadvises on policies that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal. For more information, click here.

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Fico Collections

JUNE 25, 2020

2020 has resurfaced how important Supply Chain Resiliency is and how an event like COVID-19 can impact companies all around the world, both across their logistics and their credit risk. Fortunately, at FICO we have the privilege of working with leaders in global supply chains.

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Debt RR

MAY 8, 2020

Credit challenges: Businesses with tax liens might have a hard time qualifying for loans, leases, or other types of business credit. While the IRS does not explicitly forgive tax debt as the student loan program does with public service forgiveness, businesses that find themselves unable to satisfy their annual obligation have options.

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Fico Collections

AUGUST 18, 2021

And, how difficult and expensive are they to test, deploy, and maintain? In my last blog , we explored why lenders should use analytics beyond single credit scores when making originations decisions. This is a tremendous benefit if you are resource-constrained, lack modeling expertise, or need to improve your decisioning processes in a hurry.

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