Economy

It is possible that the surge in payments that many companies in the accounts receivable management industry have seen and received since the COVID-19 pandemic hit the United States nearly 17 months ago may likely be on the brink of ending, coinciding with the expiration of a moratorium on evictions …

In order for a collector to have a debt to collect, a consumer has to obtain some form of credit. That could be as simple as the balance from a visit to the doctor’s office or as complicated as a mortgage or auto loan. The COVID-19 pandemic sent many consumers …

The amount of medical debt being worked by collection agencies across the country is $140 billion, according to a study published yesterday in the Journal of the American Medical Association (JAMA), which is twice as much as was estimated just five years ago. Unpaid medical debts represent the largest category …

While fewer people expect they will be unable to pay at least one current bill or loan in the future, more of those who are not able to do so are not sure how they are going to come up with the money, according to data released recently by TransUnion. …

The number of consumers who expect to be able to make all of their debt payments during the next three months increased again in June, nearing the highest point ever in the eight years that the Federal Reserve Bank of New York has been tracking the data. The continued increase …

One of the biggest problems for companies in the accounts receivable management industry in recent months has been finding qualified applicants and candidates who are willing to work. Companies have reported declines in the number of applicants, the number of individuals who show up for interviews, and the number of …

The Consumer Financial Protection Bureau has updated a report it first released last year that detailed the delinquency rates on major types of credit in order to illustrate how consumers were being financially affected by the COVID-19 pandemic. Now looking at data through the end of April 2021, the CFPB’s …

More than one-third of individuals participating in a study organized by Consumer Reports found at least one error on their credit report, leading the advocacy group to call on furnishers — including debt collectors — to be required to follow stronger standards to ensure the accuracy of information contained in …

Public colleges in 49 states across the country — all but Louisiana — are being called out in a report for placing unpaid debts with private collection agencies to be repaid for tuition, library fees, and parking fines, creating a “spiraling” amount of debt that former students are not able …

A bill has been introduced in the Senate that would provide $30 billion to utility companies and broadband Internet providers across the country in order to prevent those companies from shutting off services to customers because of unpaid debts, especially those that have accumulated during the COVID-19 pandemic. The bill, …