Economy

There was an overall drop in delinquency rates among mortgages, credit cards, auto loans, and student loans during the first few months of the coronavirus pandemic, according to data released yesterday by the Consumer Financial Protection Bureau, which also indicated that individuals were not using their credit cards to keep …

A survey of individuals from across the United States has revealed the lengths that people have gone to in order to make ends meet during the coronavirus pandemic, which offers a glimpse into how the country is managing its finances and illustrates the full impact of the pandemic, especially on …

Most collection agencies are private companies, and do not have to release their financial statements. So all we outsiders have to go on is anecdotal or empirical information about how companies in the industry are doing. But there are a couple of companies that are publicly traded and one of …

As might be expected, customer service representatives, a category of workers that include collection agents, were among the hardest hit during the early days of the pandemic, according to research that was published by the Federal Reserve Bank of St. Louis. The research looked at the annual earnings of those …

A consumer finance lender that caters to Latino immigrants has agreed to dismiss all pending collection lawsuits it has filed and committed to filing 60% fewer cases in the future after consumer advocates and journalists started asking the company questions about its collection practices. Oportun also announced it would cap …

There has been no end to the number of jokes and memes referencing the dumpster fire that 2020 has been for the country and the world, and if this were any other presidential election year, the media and your political expert friends on Facebook would be pumping out content about …

The number of complaints being submitted by individuals to the Consumer Financial Protection Bureau continues to set new records and the impact of the coronavirus pandemic continues to “wreak havoc” on the financial situations of millions of Americans, according to an updated analysis of the Bureau’s consumer complaint database that …

The gap between the number of accounts that have been placed with a collection agency and the number of individuals who have engaged with a credit counseling service has increased during the past few years, while the gap between the number of accounts that have been placed with a collection …

Perhaps lost in the clamor of setting up employees to work remotely at the outset of the coronavirus pandemic was the fact that the deadline to file federal income tax returns was delayed from April 15 to July 15. What should not be lost on anyone is that July 15 …

April 15 was a good day for the collection industry, after all. In fact, it may have been the best day at many agencies across the country, according to data released yesterday by TrueAccord. Normally, April 15 is the deadline for individuals to file their federal income tax returns with …