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Q4 Industry Insights: Looking Good on Paper, Feeling Bad in Wallets, Everyone’s Uncertain on Financial Outlook

True Accord

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. for this year, increased to 3.0%

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Navient settles predatory student loan claims for $1.85B

Collection Industry News

The company agreed to cancel $1.7 BOSTON — Navient, a major student loan collecting company, agreed to cancel $1.7 Forbearance is when lenders allow borrowers to pause or reduce payments for a limited time while they build back their finances. and pay over $140 million in other penalties.

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What Bills Help Build Your Credit?

Credit Corp

Rent payments Utility bills Cable, internet or cellphone bills Insurance payments Car payments Mortgage payments Student loan payments Credit card payments Medical bills. No lender or service provider has to do it. A lender that didn’t previously report might begin doing so—and vice versa.

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Can a Debt Collector Collect After 10 Years?

Credit Corp

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. Each state has a law referred to as a statute of limitations that spells out the time period during which a creditor or collector may sue borrowers to collect debts.

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How To Remove Portfolio Recovery From Your Credit Report

Better Credit Blog

If you’re reading this article, I bet you’ve recently been contacted by a company called Portfolio Recovery Associates —and you may be wondering how to remove them from your credit report. Portfolio Recovery buys multiple accounts with old debt from companies that have given up and “charged off” the accounts.

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How to Remove Pioneer Credit Recovery from Your Credit Report

Better Credit Blog

Also known as Pioneer Landing, Pioneer Credit Recovery is a medium-sized debt collection company that is headquartered in Arcade, NY. Originally founded in 2001, they collect debt on behalf of federal student loan servicers, county and municipal courts, the IRS, and more. What Is Pioneer Credit Recovery?

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There are 7,060 collections agencies in the U.S.—here’s what to do you if your credit card debt is sent to one

Collection Industry News

“A collection agency is a company that is hired by lenders, creditors, medical providers and federal and local governments to get you to pay or make arrangements to pay what you owe them,” Eweka tells Select. Rent, student loans and tax debts are other examples of what can get passed on to a collections agency.