Collection Industry News

Home - Collection Industry News
administrator
Editorial News

‘America’s Deficit Reckoning’: How the U.S. debt spiral could spark a crisis

Independent analyses — by sources ranging from Yale University to the Wharton School to the Congressional Budget Office – have each said that President Donald Trump’s budget plan will add trillions of dollars to the U.S. deficit over the next 10 years.  What’s at stake if…
Bankruptcy News

Del Monte, the canned fruits and vegetables company, seeks bankruptcy protection

Del Monte Foods, the 139-year-old company best known for its canned fruits and vegetables, is filing for bankruptcy protection as U.S. consumers increasingly bypass its products for healthier or cheaper options. Del Monte has secured $912.5 million in debtor-in-possession financing that will allow it to operate normally as…
Legal News

Can medical debt affect your credit?

Americans are carrying a staggering $220 billion in medical debt, according to the American Hospital Association, with 14 million (6%) owing over $1,000 and 3 million (1%) in the hole for more than $10,000. More than half (58%) of accounts in collections…
Educational News

Federal student loans will still be a ‘better bet’ than private—even with coming changes, experts say

The question of whether college students should take out federal or private student loans to pay for their education may have just gotten harder to answer. That’s due to a number of changes in President Donald Trump’s so-called “big beautiful bill” that will affect…
Editorial News

The Fed held interest rates steady, but some credit card APRs keep going up. Here’s why

Even with the Federal Reserve on the sidelines, credit card rates are edging higher. In June, credit card interest rates rose for the third straight month, hitting the highest level since December, according to a recent report by LendingTree. Now, the average annual percentage rate is just…
Bankruptcy News

FTC to Ban Debt Collector Who Allegedly Coerced Consumers into Paying Debt They Didn’t Owe

The Federal Trade Commission alleged that Global Circulation, Inc. (GCI) and its owner, Kenneth Redon III, threatened consumers with jail time, lawsuits, and wage garnishments to pressure them into paying debt they didn’t actually owe. In an amended complaint, the FTC…
Press Release

Commercial Collection Agencies of America’s President Named to California DFPI’s Committee on Debt Collections

June 19, 2025-Chicago-Commercial Collection Agencies of America has announced that its President, Mr. Humberto Matz, has been appointed to the California Debt Collection Advisory Committee of the California Department of Financial Protection and Innovation. In May, Commissioner KC Mohseni appointed…
Legal News

Mortgage demand drops, even as rates fall to the lowest since April

Weak consumer sentiment is weighing hard on the housing market, as potential homebuyers pull back. Applications for a mortgage to purchase a home fell 3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted…
Educational News

Federal student loan interest rates just fell for the first time in 5 years—here’s what borrowers will pay on new loans

Students and families borrowing money for college will get a slight reprieve for the upcoming school year. The interest rate for undergraduate federal student loans disbursed between July 1, 2025 and June 30, 2026 will be 6.39%, down from 6.53%…
Press Release

Ragan Named to Independent Standards Board

June 5, 2025-Chicago-Commercial Collection Agencies of America is proud to announce the appointment of ConradRagan to the Independent Standards Board effective immediately. Ragan was recently approved by his Standards Board peers. “We are grateful that Conrad has joined the Board,which…