One of the first signs that a customer may have money trouble is late payments. The customer, this is the debtor, will continue to pay on their account, but the payments begin to get later and later.
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The debt ceiling, which is at risk of being breached, leading to a default situation. At the moment, the $22 trillion number was created
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Recently, the Consumer Financial Protection Bureau (CFPB) published a survey in which they asked over 8,000 individuals their thoughts on debt collection disclosures. This survey attempted to determine whether consumers understood these disclosures and whether they allowed individuals to make sound financial decisions.
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Introduction to Debt Statute of Limitations In the most simple breakdown of debt collection legal obligations, a creditor has up to seven years to file suit to collect on that outstanding debt. The date that is considered for the seven-year term is the date that the debt was issued, or the date of the latest…
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When you think of debt collectors, it may conjure up words like; bully, sleazy and annoying. Recently in the news, Bloomberg published an expose on the New York City Marshal (debt collector) Vadim Barbarovich. Bloated revenue and aggressive collection tactics were just a few of the accusations which are pretty typical of the public’s attitude…
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About half of all calls on cell phones in the year 2019 will be automated. Robocalls have become popular the number of calls recorded 3.4 billion per month
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When it comes to credit analysis, most often this financial examination takes the form of an examination into what is known as - The Five C’s -
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In the spring of 2017, a judge placed a restraining order that barred the federal government from contracting with debt collectors to catch up on the defaulted student loan debt.
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The current director of the CFPB, Mick Mulvaney, was nominated by President Trump to lead the Office of Management and Budget in January 2017
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Around 4,000 debt collecting agencies are operating in the U.S. With that many agencies, choosing what is best for a business can be difficult.
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