Collection Industry News
JUNE 17, 2024
This includes mortgages, home equity revolving debt, auto loans, credit cards, student loans and other consumer lending such as retail cards. Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. A lower interest rate would allow some borrowers to refinance high-interest loans.
Payment Savvy
AUGUST 25, 2020
This may have to do with consumers obtaining mortgages at their long-standing financial institution where they may have a direct relationship with their loan officer and other staff members. There is no doubt mobile apps, chatbots, and secure online payment portals have made repayment of loans more accessible and faster for all involved.
Collection Industry News
JANUARY 13, 2024
Auto loan and mortgage debt increased by 4%, while student loan debt saw a modest rise of 1.6%. Household debt in the “Other” category — which includes retail cards and other consumer loans — also saw a substantial increase of 7.7% A lower interest rate would allow some borrowers to refinance high-interest loans.
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