Account Recovery

DECEMBER 2, 2024

The big picture: The financial services industry, including banks, credit unions, fintechs, and debt collectors, increasingly relies on AI for various functions, from assessing creditworthiness to customer service automation. With such reliance comes the responsibility to ensure AI is used ethically and transparently.

Financial services 130

Financial services Credit Unions Credit Unions Creditworthiness 130

Account Recovery

FEBRUARY 27, 2025

Rising consumer debt, limited emergency savings, and unpredictable economic pressures mean more borrowers may rely on short-term loans, subprime credit cards, or buy now, pay later plans. By the numbers: What theyre saying: Being cash poor is a way of life for most Americans, says Rodney Williams, president and co-founder of SoLo.

Collections Agency 130

Collections Agency Collection Agencies Education Loans 130

Account Recovery

APRIL 28, 2025

This decision comes after a lawsuit was filed by the plaintiff over inaccurate loan reporting. The background: The plaintiffs filed a lawsuit after a vehicle loan they had refinanced and paid off was reported to the credit bureaus as still having an unpaid balance, resulting in inaccuracies in their credit report.

Fair Debt Collection 130

Fair Debt Collection Loans Collections Banks 130

True Accord

OCTOBER 22, 2024

trillion, auto loans increased by $10 billion to reach $1.63 Delinquency transition rates for credit cards, auto loans and mortgages all increased slightly, with a steeper increase in flow to serious delinquency for credit cards, up more than 2% over last year from 5.08% to 7.18%.

Student loans 111

Student loans Student Loans Loans Debt collector 111

Hudson Weir

FEBRUARY 11, 2025

If youre trying to find out what does IBR mean or what does IBR stand for in a business or banking context, thats understandable as there are some conflicting answers online. Banks often initiate IBRs when they have concerns about the borrowing companys financial stability or solvency. IBR stands for Independent Business Review.

Trade 52

Trade Banks Loans Lender 52

Credit Corp

MARCH 12, 2025

Whether you are facing unexpected costs or you simply need extra financial support, personal loans are a viable option that many people rely on. adults have an unsecured personal loan as of the third quarter of 2024. So, you’re not alone in wondering how to apply for a personal loan. In fact, 24 million U.S.

Loans 52

Loans Personal loans Lender Collateral 52

True Accord

JANUARY 21, 2025

With inflation proving more sticky than policymakers had hoped and uncertainty around how the new administrations policies might affect it, it may take longer for people to see lower interest rates on their mortgages, car loans and credit card balances, which could prove challenging to household budgets.

Student Loans 104

Student Loans Student loans Credit Card Debt Loans 104

Nexa Collect

FEBRUARY 19, 2025

Fines and Fees – Examples include but are not limited to: – Towing Charges – Vehicle Storage Fees – Parking and Traffic Tickets/Fines – Toll Road Fines/Fees – Ordinance Violations – Library Fines – Video Rental Fees – Prequalification Fees – Brokerage Fees – Eviction Fees Continuity Clubs (..)

Credit Bureau 130

Credit Bureau Collections Agency Collection Agencies Debtor 130

Credit Corp

JUNE 23, 2025

It indicates to banks and credit unions that you are under financial strain and may be unable to pay back your debts. The rest goes towards paying the interest. Not only is making minimum payments bad for your credit utilization, but it can also be a huge red flag to lenders. It will also be a red flag when your landlord checks your credit.

Lender 52

Lender Credit Unions Credit Unions Loans 52

True Accord

MAY 15, 2025

Youve seen the headlines the federal government last week resumed collecting defaulted student loan payments from millions of people for the first time since the start of the pandemic. How did we get to this point where so many people with student loans are unable to make payments on them? for non-student loan holders.

Student Loans 52

Student Loans Student loans Loans Collections 52

Account Recovery

JANUARY 13, 2025

According to the plaintiff, the account terms were established during a phone call with a representative, who promised a zero-percent interest rate for the life of the loan and no fees beyond the principal. The background: The dispute stemmed from a credit card account the plaintiff opened in 2016 with the original creditor.

Debt collector 130

Debt collector Fair Debt Collection Original Creditor Creditors 130

True Accord

APRIL 28, 2025

The next meeting is on May 6 and while many still expect two rate cuts this year, the outcome will reflect the banks outlook given the new landscape of tariffs and their anticipated impact on inflation. trillion and auto loan balances increased by $11 billion to $1.66 As a result, the Fed lowered economic growth expectations to 1.7%

Student loans 89

Student loans Student Loans Loans Collections 89

Account Recovery

OCTOBER 16, 2024

The settlement, which could total over $9 million, includes both penalties and funds aimed at increasing access to mortgage loans for these historically underserved communities. This lack of outreach led to a much lower rate of loan applications from Black residents compared to similar lenders.

Lender 130

Lender Loans Education Banks 130

Qualco

APRIL 15, 2025

3 Credit & Lending QUALCO Loan Originator, our automated loan approval system, reduces time and errors while enhancing fraud detection, contributing to stronger portfolio performance. The platform streamlined and digitised their financing process, reducing processing time from 5 hours to just 30 minutes.

Financial Institution 52

Financial Institution Loans Debt Recovery Collections 52

The Kaplan Group

APRIL 24, 2025

CRE Loans: The Next Time Bomb Nearly $1 trillion in CRE loans are due in 2025 alone. Interest Rates: Business loans now carry double the interest burden of 2021, choking refinancing options Inflation: Peaked at 9.1% Key Commercial Debt Statistics (20202025) $21.55 Key Commercial Debt Statistics (20202025) $21.55 by late 2024.

Bankruptcy 52

Bankruptcy Lender Loans Creditors 52

Account Recovery

MAY 6, 2025

The background: The plaintiff had personal and business loans with the defendant and signed a personal guarantee for the business loans. The defendants position was that the plaintiffs personal loan had been accelerated as part of its standard procedure for loans deemed uncollectable.

Personal loans 147

Personal loans Loans Banks 147

FFGN COLLECT NY

JUNE 11, 2025

BNPL loans, which are becoming increasingly popular, threaten consumers with financial overextension, inconsistent credit reporting, and hidden fees. It will also impact BNPL lenders, any non-bank entity offering BNPL loans. Banks are already regulated.)

Collections 52

Collections Lender Banks Loans 52

Account Recovery

APRIL 8, 2025

Nasdaq: PRAA), a global leader inacquiring and collecting nonperforming loans, today announced that its Board of Directors has appointed President of PRA Group Europe Martin Sjolund to serve as President and Chief Executive Officer (CEO), effective June 17, 2025. PRA Group, Inc.(Nasdaq:

Debt Buying 130

Debt Buying Loans Financial services Creditors 130

Qualco

APRIL 8, 2025

Read how QUALCO helped TBC transform its factoring operations: George Koukis: Today, we are diving into the incredible transformation of TBC Bank's factoring business. Then, the bank decided to boost the product and increase access to finance for SMEs and corporate clients by offering factoring products. We've got you covered.

Banks 52

Banks Trade Collateral Retail 52

Hudson Weir

OCTOBER 18, 2024

You may well know what an intercompany loan is… But do you know what can happen if the borrowing company becomes insolvent, or enters liquidation? An intercompany loan can provide a quicker and less expensive way for a business to borrow funds. What is an intercompany loan?

Loans 52

Loans Creditors Collateral Financial Institution 52

Account Recovery

FEBRUARY 18, 2025

Ocwen Loan Servicing, LLC, No. The banking industries who create these uniform agreements are better positioned to rectify this issue than the consumers the FDCPA seeks to protect. Regardless of economic conditions, businesses that proactively refine their strategies will be best positioned for success. 23-12578, 2025 U.S.

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Fair Debt Collection Law Firms Bankruptcy Judgment 130

Account Recovery

DECEMBER 12, 2024

Key takeaways What they said: “Weve observed widespread growth in credit cards in recent years for myriad reasons,” said Paul Siegfried, senior vice president and card and banking business lead at TransUnion. Learn more.

Consumer Credit 130

Consumer Credit Personal loans Debt Management Lender 130

American Profit Recovery

MAY 15, 2025

From mortgage and rent payments to credit card debt to auto loans as well as outstanding bills to local businesses and service providers. If you have to, create a separate banking account for this money. The first step is getting all your financial information into one place. Find something fun that does not stress you out.

Debt collector 152

Debt collector Credit Card Debt Collections Agency Collection Agencies 152

FFGN COLLECT NY

MAY 28, 2025

Improving cash flow is especially crucial for securing loans. A stronger balance sheet can improve relationships and lead to better terms with banks and other investors. Unpaid debt on a large scale can destabilize banks, credit markets, and entire national economies. Risk follows profit. and get paid if debt is recovered.

Collections 52

Collections Creditors Lawyers Debtor 52

Qualco

JUNE 11, 2025

The banking sector is a major client, and each year this results in around 30 million claims from half a million clients that involve debt collection. That means 30 million new assignments for the industry per year. In addition, we have repeated legislative adjustments that affect debt enforcement and the debt collection process.

Collection Companies 52

Collection Companies Debtor Collections Lawyers 52

True Accord

JUNE 27, 2025

Online touchpoints like accepting membership applications online, a strong social media presence and mobile apps (for mobile banking) all add value to customers. Let’s say you’re a credit union that offers specialized loans for musical instruments. The question is, can your business do more in those unique markets?

Credit Unions 52

Credit Unions Credit Unions Financial Institution Collections 52

Account Recovery

MAY 19, 2025

WHAT THIS MEANS, FROM LORAINE LYONS OF MARTIN GOLDEN LYONS WATTS MORGAN: In response to 61 TCPA lawsuits filed by attorney Jeff Lohman on behalf of student loan borrowers, Navient chose to fight back by filing a RICO lawsuit against Lohman and other defendants, accusing them of using questionable and fraudulent tactics to generate these lawsuits.

Student loans 130

Student loans Student Loans Fair Debt Collection Judgment 130

The Kaplan Group

APRIL 8, 2025

Billing Information means any data that enables any person to access a consumer’s account, such as a credit card, checking, savings, share or similar account, utility bill, mortgage loan account, or debit card.

Trade 52

Trade Collections Legal Collections Government 52

Hudson Weir

JANUARY 20, 2025

Banks and leasing companies often fall into this category. It also includes informal loans from directors or staff. For more details, read our guide on unsecured and secured loans. Their secured position minimises risk, allowing them to claim ownership of assets if insolvency occurs. What is a retention of title clause?

Creditors 59

Creditors Unsecured Creditor Secured Creditor Loans 59

Account Recovery

MARCH 13, 2025

President Trumps administration has taken significant steps to dismantle the Department of Education, raising big questions about the future of federal student loans for more than 40 million Americans, especially following comments from the president that other government agencies should be responsible for managing student loans.

Student Loans 130

Student Loans Student loans Education Loans 130

FFGN COLLECT NY

JUNE 11, 2025

BNPL loans, which are becoming increasingly popular, threaten consumers with financial overextension, inconsistent credit reporting, and hidden fees. It will also impact BNPL lenders, any non-bank entity offering BNPL loans. Banks are already regulated.)

Collections 52

Collections Lender Banks Loans 52

Account Recovery

FEBRUARY 24, 2025

The CFPB was featured on “60 Minutes” last night, its potential new leader now has a date with the Senate Banking Committee, and it dropped its first Chopra-era lawsuit/enforcement action, among other developments. Keep reading to learn more. The CFPB had lost a motion to stay proceedings in the case earlier this month.

Lender 130

Lender Banks Trade Financial services 130

Qualco

MAY 9, 2025

Initially focused on the financial sector, we quickly developed deep expertise in non-performing loans (NPL) and Collections & Recoveries, delivering tools to address credit challenges. While we remain a trusted partner to banks and financial institutions, our scope has expanded significantly.

Loans 52

Loans Financial Institution Retail Banks 52

Account Recovery

DECEMBER 16, 2024

The plaintiff, who alleged various violations against multiple defendants, claimed that her credit card and auto loan accounts were mishandled following instances of identity theft. ” The background: The plaintiff initiated the lawsuit after alleging fraudulent activities on her credit card and unauthorized use of her account.

Fair Debt Collection 130

Fair Debt Collection Financial Institution Creditors Loans 130

Account Recovery

JANUARY 8, 2025

Chamber supports increasing not limiting information included on credit reports to expand access to credit and to protect consumers from risky loans. incoming Chair of Senate Banking Committee …health care providers are likely to seek more upfront payment. ” –Bill Hulse, Senior Vice President of the U.S. –Sen.

Lender 130

Lender Loans Trade Government 130

Collection Industry News

JUNE 30, 2025

It follows that credit card rates spiked again along with the central bank’s string of 11 rate hikes starting in March 2022. This is a sign of banks trying to protect themselves from the risk that is out there in these uncertain times,” he said. That paves the way to lower-cost loans and better terms going forward.

Personal loans 40

Personal loans Loans Banks Collections 40