Collection Industry News

AUGUST 17, 2023

The report is based on data from the New York Fed’s nationally representative Consumer Credit Panel. Credit card balances increased by $45 billion, from $986 billion in Q1 2023 to a series high of $1.03 About 39,000 individuals had new foreclosure notations on their credit reports, a very small increase from the first quarter.

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Credit Card Debt Student Loans Student loans Foreclosure 40

Debt Free Colorado

JUNE 18, 2024

This applies to unpaid debts such as: Unsecured debts: These are debts not tied to a specific asset, like credit card debt, medical bills, or personal loans. Overdue child support or alimony payments Unpaid taxes Federal laws, like the Consumer Credit Protection Act (CCPA) , limit the amount of your wages that can be garnished.

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Chapter 7 bankruptcy Creditors Garnishment Unsecured Debt 52

Troutman Sanders

OCTOBER 4, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. In reviewing the market for potential consumer harm, the report presents the latest research on consumer card use, cost, and availability.

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Financial services Financial Institution Foreclosure Student Loans 52

Better Credit Blog

FEBRUARY 15, 2021

If you’re stressing out about dealing with Fairway, you may want to look into working with a credit repair company. Credit repair companies are expertly trained and well-equipped to handle a variety of consumer credit issues, including confronting debt collectors. Foreclosure. Charge-offs. Hard inquiries.

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Collections Collection Agencies Collections Agency Debt collector 74

Troutman Sanders

JANUARY 11, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link].

Financial services 52

Financial services Foreclosure Banks Collection Agencies 52

Troutman Sanders

AUGUST 1, 2023

On July 26, the CFPB published a blog focused on consumer credit scores. On July 25, a large credit reporting agency revealed to investors in regulatory filings that it’s facing a probe by the CFPB. For more information, click here. As part of the introduced public resolution, Councilmember Robert C.

Financial services 52

Financial services Financial Institution Debt collector Trade 52

Better Credit Blog

DECEMBER 2, 2020

Depending on the extent of your credit problems, your best bet might be to work with a credit repair specialist. Credit repair companies are pros at disputing inaccuracies and getting them deleted from consumers’ credit reports. Even more, they can assist you with challenging credit problems like: Bankruptcy.

Lender 52

Lender Repossession Loans Foreclosure 52

Better Credit Blog

DECEMBER 2, 2020

Depending on the extent of your credit problems, your best bet might be to work with a credit repair specialist. Credit repair companies are pros at disputing inaccuracies and getting them deleted from consumers’ credit reports. Even more, they can assist you with challenging credit problems like: Bankruptcy.

Lender 52

Lender Repossession Loans Foreclosure 52

Better Credit Blog

DECEMBER 18, 2020

While you may have applied for a loan from a popular lender or bank, their name isn’t necessarily the one that will appear on your credit report. Instead, banks, lenders, and other financial institutions turn to consumer credit reporting companies like CBCInnovis to vet applicants. Foreclosures. Charge offs.

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Lender Loans Foreclosure Financial Institution 52

Better Credit Blog

NOVEMBER 23, 2020

Lenders and service providers turn to companies like ACRAnet in order to obtain consumer credit reports to aid them in their approval process. National Consumer Reporting Association. They deal with more than just hard inquiries, too, helping people to rebuild their credit in the aftermath of: Bankruptcy. Foreclosure.

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Loans Lender Legal Rights Foreclosure 52

Collection Industry News

JANUARY 25, 2021

The insured creditor and its affiliates do not maintain an escrow account for consumer credit transactions secured by real property or a dwelling, other than: Escrow accounts established after consummation as an accommodation to distressed consumers to assist such consumers in avoiding default or foreclosure, or.

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Loans Creditors Credit Unions Credit Unions 40

Better Credit Blog

JANUARY 29, 2021

There are several excellent credit repair companies that are experts at disputing inaccuracies and improving consumers’ credit scores. Foreclosure. Credit repair specialists can help you get to the bottom of your credit problems so you can improve your score quickly. Charge-offs. Debt collectors.

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Repossession Loans Foreclosure Financial Institution 52

Better Credit Blog

JANUARY 29, 2021

They’re pros at getting inaccurate hard inquires removed from consumer credit reports. A credit repair company is also a great asset if you’re facing any of the following: Bankruptcy. Foreclosure. Charge offs. Debt collections. Late payment history.

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Repossession Banks Loans Foreclosure 52

Better Credit Blog

JANUARY 13, 2021

Data Facts is a credit reporting company that is primarily used by employers to vet applicants. They run background checks on prospective employees, accessing documents like consumer credit reports to assess their financial responsibility. They will take the necessary steps to get faulty entries off your credit report.

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Lender Loans Foreclosure Bankruptcy 52

Better Credit Blog

JANUARY 27, 2021

RentGrow On Your Credit Report. RentGrow is an agency that obtains consumer credit reports for landlords. Whether your biggest concern is a hard inquiry or you’re battling lots of credit problems, they’ll have your back. Here are a few of the credit issues they can help out with: Bad payment history. Foreclosure.

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Repossession Lender Foreclosure Credit Bureau 52

Better Credit Blog

DECEMBER 31, 2020

Citi is a popular bank that provides credit cards for a wide range of retail stores like The Home Depot. With The Home Depot, in particular, Citi offers four credit options: Consumer Credit Card. When you apply for any one of these cards, loans, or credit accounts, you authorize Citibank to run a hard credit check.

Retail 52

Retail Lender Loans Repossession 52

Better Credit Blog

DECEMBER 30, 2020

a revolving line of credit for financing Dell products. The account offers rewards when you purchase products from Dell using the credit, along with interest-free financing on several products. When DFS/Webbank shows up on consumer credit reports, it’s most likely because an application was submitted, leading to a hard inquiry.

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Lender Financial services Loans Repossession 52

Better Credit Blog

DECEMBER 18, 2020

Whether you’re anxious just thinking about calling the credit bureaus to dispute a hard inquiry or you simply don’t have the time, you might want to leave it to the pros. Credit repair companies specialize in disputing inaccuracies on consumer credit reports, getting fraudulent entries deleted quickly. Foreclosure.

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Retail Lender Loans Repossession 52

Better Credit Blog

JANUARY 5, 2021

File a Dispute with the Credit Bureaus. The Fair Credit Reporting Act requires credit bureaus to investigate questionable entries on consumer credit reports. They’ll then have 30 days to look into the inquiry and remove it if it is evident that you didn’t consent to the credit check. Collections-stage debt.

Loans 52

Loans Banks Repossession Lender 52

Better Credit Blog

JANUARY 5, 2021

File a Dispute with the Credit Bureaus. The Fair Credit Reporting Act requires credit bureaus to investigate questionable entries on consumer credit reports. They’ll then have 30 days to look into the inquiry and remove it if it is evident that you didn’t consent to the credit check. Collections-stage debt.

Loans 52

Loans Banks Repossession Lender 52

Fico Collections

JULY 15, 2022

You need to know, when you have a score on a consumer that you're getting a solid indication of credit risk, you need to know that you're not putting the consumer at greater risk of a foreclosure because a score used in a credit decision for a mortgage or auto loan, was based on a small amount of data, or stale data.

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Lender Education Acquisition Foreclosure 52

Better Credit Blog

OCTOBER 28, 2020

Is there a Credco credit inquiry on your credit report? Credco is an unfamiliar name to most consumers, but that doesn’t mean it isn’t legit. Short for CoreLogic Credco, it is a consumer credit reporting company. These companies can assist you with a range of credit problems, such as: Bankruptcies.

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Lender Loans Foreclosure Bankruptcy 40

Troutman Sanders

OCTOBER 16, 2023

The legislation prevents any potential gap in the law and protects homeowners from foreclosures as they continue to await approvals and payments from the Department of Housing and Community Development (DHCD). For more information, click here. On October 11, B25-0449 was signed by Mayor Muriel Bowser (D). For more information, click here.

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Financial services Student Loans Student loans Credit Unions 52

Troutman Sanders

MAY 9, 2023

HB1443 will go into effect on November 1. HB1349 will take effect on July 23.

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Financial services Student Loans Student loans Loans 52

Troutman Sanders

JANUARY 30, 2023

On January 25, the Consumer Financial Protection Bureau (CFPB) released a blog post on consumer credit score transitions during the COVID-19 pandemic. On January 24, the CFPB issued a request for information, seeking public input on how the consumer credit market is functioning. For more information, click here.

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Financial services Foreclosure Banks Trade 52

Collection Industry News

JULY 6, 2021

In June 2020, the CFPB proposed amendments to Regulation Z to address the anticipated expiration of the London Inter-Bank Offered Rate (LIBOR)—a commonly-used index for calculating the interest rate on variable-rate consumer credit products. The Bureau expects to issue a final rule in January 2022.

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Foreclosure Financial Institution Consumer Credit Creditors 40

Troutman Sanders

MARCH 1, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. The eviction moratorium law is part of New York state’s COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020.

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Financial services Foreclosure Financial Institution Government 52

Troutman Sanders

NOVEMBER 24, 2020

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. Please click here to visit this new interactive tool: [link]. For more information, click here.

Financial services 52

Financial services Foreclosure Banks Loans 52

Troutman Sanders

JULY 12, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On June 30, the CFPB released a blog post regarding trends of commercial reporting on consumer credit.

Financial services 52

Financial services Student Loans Student loans Foreclosure 52

Troutman Sanders

MAY 2, 2023

Senate Committee on Banking held a full committee hearing, titled “Oversight of the Credit Reporting Agencies.” Chairman Sherrod Brown (D-OH) described consumer credit reports as “riddled with errors.” Brown argued that medical debt “correlates with illness,” not with credit risk. On April 27, the U.S.

Financial services 52

Financial services Trade Government Consumer Credit 52

Troutman Sanders

MARCH 15, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. House of Representatives that seeks to amend the Fair Credit Reporting Act to exclude COVID-19-related evictions from consumers’ credit reports.

Financial services 52

Financial services Financial Institution Foreclosure Government 52

Troutman Sanders

AUGUST 31, 2020

On August 27, 2020, the Federal Housing Finance Agency announces it would extend the eviction moratoriums on single-family foreclosures and real estate owned (REO) properties from August 31, 2020 to December 31, 2020. The moratorium only applies to Enterprise-backed, single-family mortgages. For more information, click here.

Financial services 52

Financial services Foreclosure Student Loans Student loans 52