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How Consumer Credit Trends Impact Debt Collection in 2024

True Accord

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. And we’re seeing consumers often need help to organize the different debts.”

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Top Debt Collection Tips for Debt Recovery in Australia

Debt Recoveries

There are several obstacles that business owners must overcome in order to operate a successful company in Australia, and one of the most typical of these is debt collection. Although giving consumers credit is important for organisations, dealing with unpaid bills and late payments can negatively affect cash flow and impede growth.

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Compliance Digest – August 19

Account Recovery

What do they mean and how are they to be used in a consumerscredit report? The real issue in Frazier is that the tri-merge report showed Equifax reporting “90-119 Days Past Due” for months after the date the loan was closed in a short sale – the “dates”.

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Compliance Digest – August 19

Account Recovery

What do they mean and how are they to be used in a consumerscredit report? The real issue in Frazier is that the tri-merge report showed Equifax reporting “90-119 Days Past Due” for months after the date the loan was closed in a short sale – the “dates”.

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How Consumer Credit Trends Impact Debt Collection in 2024

Collection Industry News

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. And we’re seeing consumers often need help to organize the different debts.”

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Q2 Industry Insights: Beating the Economic Heat and Keeping Up with Compliance

True Accord

Coming out of Q1, total household debt rose by $184 billion to reach $17.69 trillion, according to the Federal Reserve Bank of New York’s latest Quarterly Report on Household Debt and Credit. Mortgage and auto loan balances continued climbing, increasing to $12.44 trillion and $1.62 trillion respectively.

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Managing Compliance and Regulations in Collections in the UK: What Lenders Should Know

Taurus Collect

Key Regulations to Follow For debt collection companies in the UK, there are several key regulations that you must follow: Financial Conduct Authority (FCA) : The FCA sets the standards for conduct and compliance. They oversee debt collecting companies to ensure fair treatment of customers.

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