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. Key Indicators and the Student Loan Predicament According to the New York Fed’s Quarterly Report on Household Debt and Credit , total household debt increased in the first quarter of 2023 by $148 billion (.9%)

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Financial Institution Student loans Student Loans Loans 70

Better Credit Blog

MAY 10, 2022

With good credit, you’ll be able to access low annual percentage rates on mortgages, auto loans, and better credit cards with perks or no annual fees. You could pay higher fees and higher interest rates or get loans declined. You should also consider credit builder loans which a lot of banks and credit unions offer.

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Credit Unions Credit Unions Banks Loans 90

Collection Industry News

OCTOBER 17, 2023

The average interest rate for all cardholders jumped to more than 21% in August, the highest on record, according to Federal Reserve data. Some cards — retail store cards, in particular — charge more than 30%, said Ted Rossman, industry analyst for CreditCards.com. proposed a 36% cap on consumer loans in 2021. Josh Hawley, R-Mo.,

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Credit Unions Credit Unions Accrued Interest Credit Card Debt 40

Collection Industry News

AUGUST 6, 2023

Federal student loan borrowers have had a break from paying back their student loans for over three years now. Over 50% of borrowers added debt on regular credit cards during the student loan payment pause and another 31% racked up balances on retail cards, a recent TransUnion analysis found.

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Student loans Student Loans Credit Card Debt Loans 40