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Q3 Industry Insights: Inflation and Interest Rates Drop, Christmas Comes Early

True Accord

Read on for our take on what’s impacting consumer finances, how consumers are reacting and what else you should be considering as it relates to debt collection today. trillion, auto loans increased by $10 billion to reach $1.63 What’s Impacting Consumers? The Consumer Price Index rose just 2.4%

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Getting Your First Credit Card: What You Need to Know

Credit Corp

One of the main differences between a credit card and a loan is that loans have a fixed number of payments. If you don’t repay what you borrowed, the company can send your account to collections or do a charge-off, both of which would have a negative impact on your credit health.

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How to Tell If You Have a Credit Score

Credit Corp

These scores are determined by financial records that various credit reporting agencies collect and maintain, including your payment history, credit balances and bankruptcies. For example, you need to have credit accounts, such as loans or credit cards, or at least utility bills in your name. What Determines Your Credit Score?

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7 Questions to Ask When Buying a Used Car

Credit Corp

Lenders are happy to collect the interest! Otherwise, you’ll want to go to the bank and have them call the company that holds the title to make sure the loan gets paid off before any other money changes hands. Apply for a Car Loan. #1. Plus, just another reason to look at a mint used car!

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Credit card debt has plunged

Collection Industry News

As of March, Americans collectively owed $807 billion across almost 506 million card accounts, according to analysis from LendingTree’s ValuePenguin. She’s actually more concerned about the weight of student loans. Student loan debt is debt that you can never get rid of in most cases. Who’s dealing with the heaviest load?

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Build Winning Customer Experiences Without Tanking Efficiency

Fico Collections

On average, they pay $95,000 in homeowners insurance over their home-owning lifetimes. automobiles, 35% of them with a car loan. And they pay about $94,000 for auto insurance over their driving lifetime. According to census, real estate, and banking data, the average person: Moves 11.4 homes… 64.8% Purchases 9.4

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Who Are the Major Credit Reporting Agencies?

Credit Corp

Consumer data collection began with punch cards and quickly progressed to magnetic tape. Credit reporting agencies collect consumer datamostly related to financial matters such as accounts and payments. Lenders can access reportswith consumer permissionto evaluate someone for a loan or other financial opportunity.

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