Serious delinquency rates dipped in August for mortgages and other credit products – but potential challenges remain ahead for borrowers, according to a TransUnion report. Serious delinquency rates improved last month for mortgages, auto loans, personal loans and credit cards. … Continue reading →
Read more: creditandcollectionnews.com
A Dallas company led by auto finance veteran Samuel Ellis is offering to buy out a California firm that specializes in subprime auto loans for $135 million. Auto Experience Inc., which Ellis formed in 2018, said it made the all-cash … Continue reading →
Read more: creditandcollectionnews.com
Top UK Private Schools body gives Leading Debt Collection Agency ‘Gold Supplier Status’ A Top industry body for Private schools in the UK has announced a new partnership with a leading Debt Collection Agency. The Independent Schools Association (ISA) has … Continue reading →
Read more: creditandcollectionnews.com
U.S. consumer borrowing unexpectedly fell in August as credit card balances declined for a sixth consecutive month with the coronavirus pandemic continuing to limit some purchases amid elevated unemployment. Total credit decreased $7.2 billion from the prior month after an … Continue reading →
Read more: creditandcollectionnews.com
The CFPB is partnering with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement agencies to launch a nationwide law enforcement and outreach initiative to target phantom debt collection and abusive and threatening debt collection … Continue reading →
Read more: creditandcollectionnews.com
The Consumer Financial Protection Bureau announced a nationwide crackdown on abusive debt collection practices in coordination with the Federal Trade Commission and more than 50 federal and state law enforcement agencies. The initiative announced Tuesday, called Operation Corrupt Collector, details … Continue reading →
Read more: creditandcollectionnews.com
Credit unions got some surprising news with second-quarter results — problem loans actually declined from a year earlier despite significant economic turmoil. The delinquency rate stood at 0.58% in the second quarter, a 5 basis point drop from the same … Continue reading →
Read more: creditandcollectionnews.com
Written by Oscar Holland, CNN An art collective has come up with a novel way of paying off three people’s medical debt: turning their hospital bills into huge paintings and selling them to collectors for thousands of dollars. New York-based … Continue reading →
Read more: creditandcollectionnews.com
Earlier this year, the pandemic swept across the country, killing 100,000 Americans by the spring, shuttering businesses and schools, and forcing people into their homes. It was a great time to be a debt collector. In August, Encore Capital, the … Continue reading →
Read more: creditandcollectionnews.com
A funny thing happened on the way to lower interest rates – credit card firms aren’t singing from the Federal Reserve song sheet. “Despite the Federal Reserve cutting the federal funds rate to near 0% earlier this year, many retail … Continue reading →
Read more: creditandcollectionnews.com
