Sinking Economy May Create Record Number of BK Filings

The coronavirus pandemic has created a situation where bankruptcy professionals are “overwhelmed” with the number of inquiries they are receiving from consumers and businesses who are out of work and are running out of options, according to the executive director of the American Bankruptcy Institute, who was quoted in a …

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New Yorkers Most Financially Stressed

New York might share borders with New Jersey and Connecticut but their residents do not share the same amount of financial stress, according to a website’s study of how individuals in different states searched for personal finance terms on Google, such as debt collection, debt relief, bankruptcy, and debt consolidation. …

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The Changing Financial Patterns of Younger Americans

There appears to be a generational gap in dealing with debt that is disproportionately affecting younger people in the United States. The nuances and idiosyncrasies of collecting from individuals in different generations has been something that has been addressed on multiple fronts on this website in the past, and that …

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Consumers Expected to Keep Paying Bills in 2020: TransUnion

TransUnion is painting a “mostly sunny” picture for delinquency rates across consumer credit products in 2020, thanks to low unemployment rates, high consumer confidence, and continued economic growth. The credit bureau and analytics company is forecasting delinquency rates for auto loans, personal loans, and mortgages will be lower by the …

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The Tale of the Vanishing Debts

An interesting trend related to the number of debts placed with third-party agencies and the size of those debts continued in the third quarter, according to data released this week by the Federal Reserve Bank of New York, and may have some long-lasting impacts on how agencies work accounts for …

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