Economy

The amount of unpaid utility debts in the United States is expected to hit $24.3 billion by the end of this year, up from $9.8 billion at the end of July, according to data released by the National Energy Assistance Directors’ Association, which is causing problems for millions of Americans …

The amount of outstanding credit card debt declined by more than $100 billion between 2019 and 2020, largely due to consumers paying down their debts, according to a report issued this week by the Consumer Financial Protection Bureau, which also detailed the pre- and post-chargeoff collection efforts and touted the …

Student loan debt is keeping a lot of people from accomplishing their financial objectives, according to a report released by the National Association of Realtors, including buying a home, taking a vacation, and starting a family, while also forcing more individuals to take second jobs or work where they are …

Millions of individuals who rent apartments or homes nationwide are at risk of “economic harms” as programs created to help individuals during the COVID-19 pandemic are coming to an end, according to a report issued by the Consumer Financial Protection Bureau, and companies in the accounts receivable management industry might …

Even though many collection agencies have reported higher-than-expected payment rates during the 18 months of the COVID-19 pandemic, the number of individuals with a debt in collection largely remained unchanged across the country, according to data released last week. The number of individuals with a debt in collection decreased in …

To the likely surprise of nobody in the accounts receivable management industry, fewer consumers are missing their debt payments than ever before, consumers are carrying less debt, and there are fewer consumers actively seeking to borrow money, which all contributed to the average credit score among consumers in the United …

Portfolio Recovery Associates is closing its office in Birmingham, Ala., which will affect 133 employees who worked there. The company filed a notice with the state Department of Commerce in late July. The office will close at the end of September. The office in Birmingham is one of 10 the …

The leading Republican on the Senate Banking Committee is trying to get the latest eviction moratorium put in place by the Centers for Disease Control overturned, saying that the move “lacks both a legal and an economic justification.” Sen. Pat Toomey [R-Pa.], the Ranking Member of the Senate Banking Committee, …

Credit card lenders and financial institutions are apparently a little leery of the state of the economy and consumer’s ability to meet their financial obligations and are keeping balance limits largely stationary for the time being, except for one group of consumers — and it’s probably not the group you …

The Biden Administration on Friday announced that it will be extending the moratorium on collecting student loans for an additional four months, until Jan. 31, 2022. The moratorium was scheduled to expire on September 30. In its statement announcing the extension, the Department of Education went as far as to …