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More Consumers Expect To Miss Debt Payments: Survey

More consumers expect not to be able to pay their debts by the end of the year, according to data released yesterday by the Federal Reserve Board of New York. According to the report, 12.77% of consumers expect not to be able to make minimum debt payments three months from …

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Many Americans Still Not Making Ends Meet: Study

Even with the unemployment rate hovering at all-time lows, a surprising number of Americans are still struggling to make ends meet, according to a report published yesterday by the Urban Institute. “Economic growth and low unemployment alone do not ensure everyone can meet their basic needs,” wrote the report’s authors, …

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BCFP Report Examines Telecom Debt Collection

More than 22% of individuals have had a telecom debt on their credit report in the past five years, according to a report released by the Bureau of Consumer Financial Protection. Accordingly, telecom debt accounted for more than one-fifth of all collection agency revenue, according to the report. Of those …

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History Not Repeating Itself

Those who do not learn from history are condemned to repeat it.  I can still remember this quote on the wall in the classroom where I had 10th grade history class nearly 30 years ago. It’s a cool way of calling people stupid, which I tend to take too much …

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Dazed & Confused

Collection agencies can learn some important lessons about the value of sending regular reminders to individuals about upcoming due dates and instructions about how to make payments, according to the results of a survey of millennials. Nearly 50% of millennials became delinquent on their credit cards because they weren’t paying …

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