Collection Industry News

FEBRUARY 21, 2022

Credit card balances grew to $856 billion in the fourth quarter of 2021, up $52 billion (6.5%) from the previous quarter. That’s the largest quarterly increase observed since the NY Fed began collecting this data 22 years ago. Outstanding credit card debt is still about 7.7% WILL A NEW CREDIT CARD AFFECT MY MORTGAGE APPLICATION?

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Debt Guru

MARCH 6, 2020

Keep in mind that your ratio typically excludes mortgage and student loans. It does include things like credit card payments, auto loans, medical bills, personal and payday loans, and any other collections you’re being assessed. You could afford to shoulder more liability.

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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. You may be sent to collections. When this happens, your credit score drops. damage to your credit score.

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Credit Corp

MARCH 16, 2021

Debt snowflake is a debt elimination method where small savings collected over time and extra income can make a big impact on your debt repayments. When you can’t control your debt spiral on your own, you should contact credit counseling agencies first. Credit counseling agencies offer this plan in exchange for a fee.

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