Collection Industry News

SEPTEMBER 2, 2023

And another factor might make the increases more painful for some consumers: The pause on federal student loan payments ended Sept. Student loan balances have already begun accruing interest again, and soon, borrowers will be expected to start making regular payments.

Credit Card Debt 40

Credit Card Debt Consumer Credit Student loans Student Loans 40

Credit Corp

MARCH 21, 2023

According to the Federal Reserve’s Consumer Credit report, 43.5 Not only can you not declare bankruptcy on many forms of student loan debt, but it can also harm your credit. Private student loans aren’t provided by the federal government, and they often come with much higher interest rates. In grace period 1.3

Student Loans 98

Student Loans Student loans Loans Education 98

Fico Collections

FEBRUARY 21, 2023

Increasing of the fed funding rates leads to higher interest rates when seeking new credit or carrying balances on credit cards. For example, the average interest rate on credit cards accruing interest in Q4 2022 was 20.40% compared to 16.44% in Q4 2021 (Source: Federal Reserve G.19

Accrued Interest 52

Accrued Interest Retail Consumer Credit Government 52