Collection Industry News

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Gil Singer: Tampa’s Premier Debt Collection Attorney

Gilbert “Gil” Singer is one of Florida’s most respected and experienced debt collection attorneys. A partner at Kass Shurer , PA one of Florida’s largest and oldest creditors’ rights law firms — Singer has dedicated his entire legal career to…

2.6 million student loan borrowers fell into default in early 2026: New York Fed

Millions of student loan borrowers have recently defaulted on their loans, according to new data from the Federal Reserve Bank of New York. Roughly 1 million borrowers fell into default during the fourth quarter of 2025, and another 2.6 million borrowers did…

Parker, fintech startup backed by Y Combinator, files for bankruptcy after raising over $200 million

Parker, a US-based fintech startup offering corporate credit cards and banking services for e-commerce businesses, has filed for Chapter 7 bankruptcy and is widely reported to have shut down, in one of the more notable collapses in the sector in…

US to revoke passports of parents with child support debt

The US State Department has said it will start to revoke the passports of Americans who owe significant amounts of child support. The department announced that parents who have outstanding debt of more than $2,500 (€1,844) in child support payments…

White House, UAE financial deal talk: Damage done by war to Mideast economy extends well beyond energy

The U.S. government’s weighing of a financial lifeline for the United Arab Emirates posts bigger questions about what is in store for the booming Mideast economy post-war. The UAE has spent decades engineering one of the world’s most resilient tourism economies, built on global…

Spirit starts monthslong process of dismantling airline after biggest collapse in a generation

Spirit Airlines’ more than three-decade run ended over the weekend, but on Tuesday it was just starting the monthslong process of dismantling the company after the biggest U.S. airline collapse in a generation. Spirit and its stakeholders were in bankruptcy court in White…

Private credit’s $2 trillion boom raises global stability fears, watchdog warns

A global finance watchdog is demanding national regulators better scrutinize private credit, warning that banks, asset managers, insurance and private equity firms are exposed to an assortment of growing risks in the near $2 trillion sector. In a wide-ranging study…

Private student loan market set to expand under new federal loan caps with risks for grad school borrowers

More graduate students are likely to take out private education loans after new federal loan caps were established in President Donald Trump’s One Big Beautiful Bill Act. That prospect is worrying, consumer advocates and other financial experts say — private lenders are likely to reject many…

Car payments squeeze Americans as auto debt hits $1.68 trillion, report finds

Auto debt is becoming a bigger problem for consumers, a new report shows. Total auto debt reached $1.68 trillion at the end of 2025 — a 37% increase since late 2018, when the debt was at $1.23 trillion, according to a new analysis by…

Americans owe $1.3 trillion in credit card debt as balances pile up

(InvestigateTV) — Americans collectively owe $1.3 trillion in credit card debt, with the average household carrying more than $11,000 in balances. John Kiernan, managing editor at WalletHub, said people are struggling with credit card debt. A new WalletHub survey found about 2 in…