Collection Industry News

JULY 4, 2022

High-end retailer RH told investors Thursday (June 30) it expects consumer demand will continue to weaken through the end of the year. The post Auto Lenders Brace For Higher Interest Rates, Recession appeared first on Collection Industry News. But some trends seem inexorable. Big Ticket Demand Wanes.

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Burr Forman

FEBRUARY 15, 2021

SlideBelts is an internet retail company and debtor in bankruptcy. FIRREA allows the government to impose civil penalties for violations of federal criminal statutes, including those that affect federally-insured financial institutions such as the PPP loan lender involved here. SlideBelts Inc.

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Better Credit Blog

AUGUST 7, 2020

If you’ve come across the name SYNCB on your credit report, it’s probably because you applied for a credit card with the bank or one of its popular retail partners. Synchrony offers several financial products, from CDs, MMAs, and IRAs to credit cards and loans through partnerships with other lenders. What Is SYNCB? American Eagle.

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Better Credit Blog

JANUARY 21, 2021

General Electric Capital Retail Bank, abbreviated as GECRB, is the former name for Synchrony Bank, and it’s probably on your report because you applied for a Synchrony card at some point in the past. The bank partners with numerous retailers to offer rewarding credit cards to shoppers. Just be mindful of how many inquiries you accrue.

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Better Credit Blog

DECEMBER 31, 2020

Whenever you apply for a retail credit card, it can lower your credit score by a few points and result in a new entry being added to your report. Citi is a popular bank that provides credit cards for a wide range of retail stores like The Home Depot. Bankruptcy. Did a hard inquiry from THD/CBNA bring down your credit score?

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True Accord

OCTOBER 10, 2023

Of note for lenders, it issued guidance about certain legal requirements for specific and accurate reasons when taking adverse actions against consumers that lenders must adhere to when using artificial intelligence and other complex models. Bottom line: “the algorithm said so” doesn’t qualify as a reason. trillion in Q2, a 4.6%

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Better Credit Blog

OCTOBER 16, 2020

Retail debt. This should include information like who the original lender or creditor was, how much you owe, and your account number. These companies are well-equipped to take on messy credit situations, helping you through the legal and financial consequences of events like bankruptcy or identity fraud. Credit card debt.

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Better Credit Blog

DECEMBER 9, 2020

When you apply for a retail credit card from Best Buy, it can lead to a hard credit check and lower your score. Hard inquiries happen whenever you apply for funding from a bank, retailer, or lender. This guarantees that your interactions with the bureau and lenders are well-documented. Seek Professional Help. Charge offs.

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Better Credit Blog

DECEMBER 18, 2020

The entry is most likely on your report as a hard inquiry, which happens when you apply for a retail credit card. Comenity Bank is one of the nation’s leading producers of branded retail credit cards, with over 145 cards on offer. It allows lenders to gain access to your full credit reports from one or more of the credit bureaus.

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Better Credit Blog

NOVEMBER 17, 2020

The bank also partners with 25 companies to offer rewards credit cards across different industries, including entertainment, travel, and retail. This allows the lender to take a closer look at how you’ve used credit in the past and aids them in the approval process. Some of Barclays’ credit card partners include: American Airlines.

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Better Credit Blog

JANUARY 22, 2021

Department Stores National Bank issues retail credit cards for shoppers at Macy’s and Bloomingdale’s. If you applied for one of these retail credit cards, whether in-store or online, you signed off on a hard inquiry. A lender may request access to one, two, or each of your three credit reports. DSNB Bloom On My Credit Report.

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Better Credit Blog

DECEMBER 9, 2020

Belk/Synchrony Bank may show up on your report if you apply for a Belk retail credit card. Belk is one of the dozens of retailers that Synchrony Bank has a partnership with. They allow lenders to access your credit reports from any or all of the credit bureaus. Belk/Synchrony Bank On My Credit Report. Banana Republic.

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Better Credit Blog

NOVEMBER 19, 2020

They also have partnerships with major retailers nationwide like TJ Maxx, with whom they issue rewards credit cards. It occurs when you complete the application process for a loan or a credit card, allowing the lender to see your actual credit report. Some of the issues they can help out with include: Bankruptcy. Charge offs.

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Burr Forman

JANUARY 6, 2021

Max has experience representing investment banks, commercial banks, financial institutions and other commercial lenders in the origination of debt secured by real estate assets of all types, including office, retail, hotel, apartment, condominium, industrial and self-storage properties.

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Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus. Even more, they can assist you with challenging credit problems like: Bankruptcy.

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Better Credit Blog

DECEMBER 2, 2020

Banana Republic offers these cards through a partnership with Synchrony Bank, which issues credit cards for dozens of national retailers. Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus. Even more, they can assist you with challenging credit problems like: Bankruptcy.

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Better Credit Blog

JANUARY 15, 2021

Clarity Services is a third-party credit reporting company used by lenders to obtain data like your credit reports when you apply for funding. They specialize in subprime candidates, helping lenders with tough calls on applicants with poor credit or little to no credit history. Retail financing. Debt recovery. Installment loans.

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Better Credit Blog

JANUARY 5, 2021

Citi is a massive provider of retail credit cards and accounts. Credit checks allow prospective lenders, banks, employers, and landlords to see your credit reports. Depending on how many reports a lender chooses to factor into its approval process, any or all of your credit reports could be affected. Bankruptcy.

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Better Credit Blog

JANUARY 5, 2021

Citi is a massive provider of retail credit cards and accounts, they partner with The Home Depot and dozens of other popular companies. Credit checks allow prospective lenders, banks, employers, and landlords to see your credit reports. Bankruptcy. Your report could feature a hard inquiry from Home Depot CBNA. Charge offs.

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Better Credit Blog

FEBRUARY 12, 2021

EPR may show up on your report if you’ve fallen behind on payments to a service provider or a lender. While you may not be familiar with the agency, they collect for popular lenders and providers across several markets. Any time you miss a payment, your lender will contact you to collect. Bankruptcies. Commercial.

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Better Credit Blog

JANUARY 6, 2021

The popular retailer provides two credit card options: The Brooks Card and the Brooks Brothers Platinum Mastercard. Hard inquiries let lenders obtain your credit report(s). This could also deter prospective lenders from approving your applications. BRKSB/CBNA On My Credit Report. Call in the Experts. Charge-offs. Collections.

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Better Credit Blog

DECEMBER 28, 2020

Shop Your Way is a Mastercard issued by Citibank that offers rewards points that can be redeemed on thousands of products from popular retailers. They let lenders access your complete credit report, which they use to assess your creditworthiness. Some of the issues they’re well-versed in include: Bankruptcy. Charge offs.

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Better Credit Blog

NOVEMBER 30, 2020

DSNB issues two types of cards in partnership with these retailers: American Express cards. This type of inquiry is more exhaustive and gives your prospective lender access to your entire credit report. They can also assist you with more complicated credit problems, such as: Bankruptcy. In-store only cards. Charge offs.

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Better Credit Blog

DECEMBER 2, 2020

Badcock is a large furniture retailer with more than 320 stores across 8 different states. Like many retailers, it offers financing for its products. This gives lenders a clearer idea of how responsibly you use credit and aids them in the decision-making process. How Does Badcock Credit Work? Applying for credit is different.

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Better Credit Blog

NOVEMBER 25, 2020

It is most popular for its credit cards, partnering with dozens of big-name service providers and retailers to offer rewarding credit cards. Abt Electronics is a popular appliance and electronics retailer that offers 6, 12, and 24-month financing with its Synchrony credit cards. Charge offs. Debt collectors. Foreclosure. Repossession.

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Better Credit Blog

NOVEMBER 23, 2020

Whether a lender, landlord, or employer requested a screening of your credit report through ACRAnet, read on to learn more about how a hard inquiry from the company may impact your score. The company also provides retail, commercial, and automotive screening, but on a smaller scale. Tenant Screening. Employment Vetting. Charge offs.

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Collection Industry News

DECEMBER 13, 2023

Shoppers can purchase anything from a $3,253 Jil Sander leather tote bag marked 30% off from luxury retailer Farfetch (FTCH.N), to groceries from Walmart (WMT.N) Retailers pay fees of anywhere from 2% to 8% of the purchase price to buy now, pay later firms. In comparison, credit card processing “swipe” fees run 2% to 4%.

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Better Credit Blog

OCTOBER 28, 2020

Its credit card offerings are among its most popular products, as the bank partners with dozens of retailers, including Toys R Us. If R Us Credit Card SYNCB or R Us Credit Card appears on your report, it’s likely the result of a retail credit card application. How Long Does a Hard Inquiry Stay on Your Credit Report? Charge off.

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Better Credit Blog

FEBRUARY 25, 2021

When you fail to keep up with payments to a service provider or lender, they often hand your debts off to collections agencies. These agencies might buy your debts for pennies on the dollar or get paid to help the original lender/provider collect. Bankruptcy. Financial institution. Foreclosure. Repossessions. Identity fraud.

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Better Credit Blog

JANUARY 5, 2021

They partner with over 145 retailers and financers to offer cards and credit accounts. A hard inquiry could impact any of your credit scores, as some lenders only rely on one or two reports while others utilize all three. Bankruptcy. The credit accounts are issued by Comenity Capital Bank. Late payments. Debt collectors.

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True Accord

JANUARY 10, 2024

The Consumer Financial Protection Bureau (CFPB) has had its hands full overseeing actors across sectors–from regional and large banks to auto and online lenders to mortgage and credit agencies–in an ongoing effort to protect consumers in an ever-growing landscape of financial product offerings. trillion in Q3 2023, showing a 4.7% a year ago.

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Better Credit Blog

OCTOBER 28, 2020

That’s because applying for a credit card, loan, or in this case a Mastercard, often results in banks and lenders checking your credit report. eBay Mastercards are issued by Synchrony Bank, a massive national bank offering several retail cards. If so, you’ve probably noticed a slight drop in your credit score along with it.

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Debt RR

DECEMBER 13, 2019

There are 35 major bankruptcies in 2019 so far, and over two-thirds happened in retail. In the worst case scenario, both people and businesses can file for bankruptcy protection from the court. It was found some mortgage lenders used a process dubbed “ robo-signing” to falsify many county records. File for Bankruptcy.

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Collection Industry News

OCTOBER 21, 2022

LONDON, Oct 21 (Reuters) – Owners of Britain’s largest malls, skyscrapers and industrial hubs face hikes in borrowing costs and a recession that could depress prices by up to a fifth, forcing lenders and investors to reassess their appetite for commercial property. respectively. HSBC (HSBA.L)

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Better Credit Blog

FEBRUARY 19, 2021

Third-party collections agencies are called in when lenders and service providers are unable to collect payments from consumers. They’re also well-equipped to help you bounce back from credit problems like: Bankruptcy. They collect on debts in numerous industries, such as: Auto. Healthcare. Financial Services. Telecommunications.

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Better Credit Blog

JANUARY 29, 2021

Citibank is a major financial institution that offers credit cards in partnership with numerous retailers, including: Best Buy. That being said, lenders might be discouraged from approving your application if your credit report is riddled with hard inquiries. NTB/CBNA On My Credit Report. Brooks Brothers. The Home Depot. Charge-offs.

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Better Credit Blog

JANUARY 29, 2021

If you didn’t apply for a retail card from Macy’s, the inquiry could be a mistake, or it may be the work of an identity thief. Any time you apply for new credit, like a card, loan, or line of credit, the lender might run a hard credit check. If so, you shouldn’t be alarmed when you see a Macys DSNB entry on your credit report.

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