If you don’t have consumer debt, congrats! You’re in the prudent and fortunate minority. Aggregate household consumer debt approached $14 trillion in 2019, and continues rising, despite higher wages and lower unemployment. In part, that’s driven by a robust housing … Continue reading →
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Last October, the Consumer Financial Protection Bureau (CFPB) announced its intention to create a Task Force on Federal Consumer Financial Law. Inspired by the 1972 National Commission on Consumer Finance, the task force is intended to examine the whole of … Continue reading →
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Monday, February 17, 2020 Dennis v. Niagara Credit Solutions, Inc., 946 F.3d 368 (7th Cir. 2019) Seventh Circuit affirms judgment on the pleadings that a debt collector’s notice clearly identified the current creditor and did not violate the FDCPA. Plaintiff … Continue reading →
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There is at least one issue a divided electorate can come together on this election year: A recent poll finds 90% of those surveyed agreed on the importance of making health care more affordable. Millions of Americans remain uninsured. As … Continue reading →
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We’re more than a month into the new year, and you may need to revive and refresh that resolution, especially if it has to do with money. Dealing with money isn’t easy, especially if you’re trying to beat down debt. … Continue reading →
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Collection House is believed to be in talks with its lenders as it remains in a trading halt since Friday in what appears to be the latest debt collection agency battling for survival. Banks including CBA and Westpac are among … Continue reading →
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Add the U.S. government to the list of groups going after patients for thousands of dollars in medical debt, per reporting by The Center for Public Integrity and The Atlantic. How it works: Civilians can receive care at military hospitals … Continue reading →
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Growth Seen in New Credit Extensions Across Debt Types; Transitions into Delinquency Among Credit Card Borrowers Continue to Rise February 18, 2020 – NEW YORK – The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly … Continue reading →
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There’s a frustrating chicken-or-egg dilemma in the financial world: You try to get access to a credit card to build a credit history, but you can’t get approved without a history. And this is the track record that’s used to generate … Continue reading →
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On February 6, the U.S. District Court for the Northern District of Texas vacated a jury award of $2.5 million in favor of two nationwide debt collection agencies (plaintiffs), in an action alleging fraud by a law firm and vendor … Continue reading →
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