Thirty-five percent of American adults carry medical debt, according to HealthCare.com, but new state laws are aiming to limit how aggressively—or even whether—hospitals can collect that money. For instance, on January 1, the Medical Debt Protection Act of 2021 went … Continue reading →
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The findings focus on consumer relief tied to credit reporting agencies’ responses to complaints as well as medical debt. The Consumer Financial Protection Bureau, under the leadership of Director Rohit Chopra, has released a new analysis on consumer complaint … Continue reading →
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Two of the defendants behind an alleged small business financing scheme, RAM Capital Funding, LLC and its owner Tzvi Reich, will be permanently banned from the merchant cash advance and debt collection industries, and required to pay $675,000 to settle … Continue reading →
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The New York Fair Consumer Judgment Interest Act lowers the judgment rates in actions involving consumer debt, including unpaid debts, from 9% to 2%. ACA International and the New York State Collectors Association will continue to advocate for an amendment … Continue reading →
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In 2021, we became acquainted with the “second-chance consumer” who uses buy now, pay later (BNPL) alternative credit to build or rebuild FICO scores. Anther cohort of BNPL fans doesn’t need a financial second chance. They’re drawn to BNPL for … Continue reading →
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Hudson River Community Credit Union (HRCCU) recently donated $20,000 to support local youth centers in the Capital Region. Recipients included the Saratoga Regional YMCA, Corinth Branch After School Enrichment Program and the Glens Falls Area Youth Center. Each location received … Continue reading →
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PITTSBURGH (KDKA) – The numbers are our and we know holiday shopping was up. We also know that many families are struggling financially, which means many use credit cards to cover holiday costs. READ MORE: Pittsburgh Weather: Rain Showers Ring … Continue reading →
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Consumer spending shot higher against pre-pandemic levels in 2021 as the boom in online shopping continued, according to figures. Barclaycard said consumer credit card spending rose by 5.9% in 2021 compared with 2019, despite the closure of shops, hospitality and … Continue reading →
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The United States District Court for the Northern District of Georgia recently dismissed all claims made against debt collector Capital Link Management (“Capital Link”) for alleged violations of the Fair Debt Collection Practices Act (“FDCPA”) and Georgia Fair Business Practices … Continue reading →
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Plaintiffs, including ACA and members of the Nevada Collectors Association, filed amended pleadings and renewed their motion for an injunction to delay the effect of the law, which restricts medical debt collection and credit reporting in Nevada and conflicts with … Continue reading →
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