Economy

COVID Helped Boost Credit Scores, But Will They Stay There?

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In what should come as a surprise to nobody in the accounts receivable management industry, the average credit scores for consumers increased during the pandemic, according to a report released last week by the Consumer Financial Protection Bureau. While the report cited mortgage forbearance agreements, pauses on repaying student loans, …

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How Consumers Determine Which Bills to Pay

Getting into the heads of consumers is an important part of being a good debt collector and a good debt collection agency. Knowing how consumers prioritize what bills they are going to pay and which ones they might not can be incredibly useful in scoring accounts, prioritizing which accounts to …

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Consumers’ Financial Well-Being on the Decline: CFPB

The overall financial well-being of consumers is back to its pre-pandemic levels, which is not necessarily a good thing, according to data released yesterday by the Consumer Financial Protection Bureau, with a noticeable decline in financial health for Hispanics and individuals under 40. A copy of the full report can …

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