Collection Industry News

JUNE 1, 2023

The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts. This presents a substantial opportunity for debt collection agencies to assist lenders in recovering unpaid debts and managing default risks.

Collections 40

Collections Collections Agency Collection Agencies Debtor 40

Collection Industry News

MARCH 19, 2024

Bottom line: households took on more debt at the end of last year and we’re seeing loans increasingly going bad, according to data from the Federal Reserve Bank of New York, leading to a shift in consumer spending for 2024. million borrowers missed their student loan payment, equating to 40% of loan holders.

Consumer Credit 40

Consumer Credit Student Loans Student loans Collections 40

Debt Recoveries

OCTOBER 24, 2021

Reading Time: 4 minutes Being a debt collection agency, we often receive queries asking for advice as to how one can get themselves out of debt. Whether you’re carrying credit card debt, personal loans, or student loans, one of the best ways to pay them down sooner is to make more than the minimum monthly payment.

Debt Consolidation 52

Debt Consolidation Debt collector Student Loans Student loans 52

Better Credit Blog

AUGUST 4, 2020

FNB Omaha is not a scam or a debt collection agency. Short for the First National Bank of Omaha, FNB National is a popular bank for several personal and professional financial services and products, including: Banking. Home loans. Auto loans. Personal loans. Student loan refinancing.

Banks 52

Banks Lender Loans Student Loans 52

Better Credit Blog

APRIL 11, 2022

Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. They may still be responsible for paying a portion of the loan. These may include: contact from a collections agency.

Debt Consolidation 74

Debt Consolidation Debt settlement Credit Card Debt Bankruptcy 74

Sawin & Shea

AUGUST 30, 2023

Most federal student loans. Personal loans. Payday” type loans. Collection agency bills. Certain taxes: Your bankruptcy attorney will be able to provide more details about this but debts to the IRS or to the Indiana Department of Revenue that are older than 3 years may be discharged. Court fines.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

Credit Corp

FEBRUARY 13, 2025

In many cases, debt settlement companies will wait until your creditors charge off your debt and sell it to a debt collection agency, which the debt settlement company can then work with. Once your debt is transferred to a collection agency, you may not be able to negotiate a good rate, and you may be more likely to get sued.

Debt settlement 52

Debt settlement Debt Consolidation Creditors Loans 52

Better Credit Blog

APRIL 11, 2022

The types of credit accounts you can expect to see in this section include: Mortgages , home equity loans, and home equity lines of credit. Student Loans. Auto Loans. Personal Loans or Other Installment Loans. This could also mean the same debt appears separately as a collection agency account.

Creditors 15

Creditors Loans Credit Bureau Lender 15

The Kaplan Group

JANUARY 7, 2021

TransUnion recently released a report on the state of Collections in 2020. There are fewer third-party collections agencies. The number of collection firms has been in decline since 2011, from 9,400 to 7,401 in 2018. The economic downturn has not yet translated into elevated delinquency rates for consumer loans.

Collections 59

Collections Collections Agency Collection Agencies Student Loans 59

Troutman Sanders

MARCH 14, 2023

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans.

Financial services 52

Financial services Student Loans Student loans Loans 52

Troutman Sanders

MARCH 6, 2023

While many Buy Now, Pay Later borrowers use the product without noticeable indications of financial stress, the report finds that Buy Now, Pay Later borrowers will more likely become active users of other types of credit products like credit cards, personal loans, and student loans.

Financial services 52

Financial services Student Loans Student loans Loans 52