Collection Industry News

Home - Collection Industry News
administrator
Educational News

‘Tax bomb’ worth over $10,000 could hit some student loan borrowers in 2026, senators and advocates warn

Federal student loan borrowers can have their remaining debts forgiven after making payments for 20 or 25 years on income-driven repayment plans.  But as of Jan. 1, 2026, that debt forgiveness could come with a massive tax liability that would undercut much…
Editorial News

Debt Collectors Sue to Block Colorado Medical Debt Reporting Ban

Colorado’s law barring medical debt on consumer credit reports is preempted by a federal credit reporting law and should be blocked, a debt collection industry group said in a lawsuit. The Fair Credit Reporting Act—the 1970 federal law governing consumer…
Government News

Trump promises a $2,000 tariff ‘dividend’ that Treasury secretary says could come via tax cuts already signed into law

On Sunday, Trump posted on Truth Social that opponents of his tariffs are “fools,” adding that the government is taking in trillions of dollars that will go toward paying down U.S. debt. “Record Investment in the USA, plants and factories going up…
Editorial News

Court Dismisses Overly-Technical Claim That FDCPA Applies to Communications With Vendors Mailing Collection Letters

The Fair Debt Collection Practices Act (FDCPA) imposes various requirements on debt collectors aimed to protect consumers’ privacy rights and prevent consumer abuse. One such subpart of the statute provides that a debt collector, in connection with collecting a consumer…
Legal News

The number of debt collection cases in Alaska state courts is soaring, following national trends

Consumer debt is at record-high levels, and the number of Americans behind on their credit card payments is also on the rise. Every morning, Alaska’s court system publishes an updated list of new civil lawsuits filed across the state during the past…
Educational News

Trump administration agrees to deliver more student loan forgiveness

The Trump administration has agreed to cancel student debt under programs it had partially blocked, reopening a path to student loan forgiveness for millions of borrowers. The outcome is the result of an agreement reached on Friday between the U.S. Department of Education and…
Bankruptcy News

Rising Credit Card Debt Signals Growing Stress for U.S. Households

It’s no secret Americans are struggling to stay afloat — juggling payments for groceries, regular bills, and mounting credit card debt. Federal Reserve data shows as of Q2 2025, Americans collectively hold $1.21 trillion in credit card debt, and that figure continues to…
Government News

Government shutdown becomes 2nd longest in U.S. history

The U.S. government shutdown on Wednesday entered its 22nd day, becoming the second-longest federal funding lapse ever, with no end in sight. The milestone means that the two longest shutdowns have both occurred while President Donald Trump was in office. The longest shutdown began in December…
Bankruptcy News

Debt collection firms shut down for keeping cash

Three debt-collection agencies have been shut down after spending thousands of pounds of their clients’ money at bookmakers, hotels and football clubs. Sunderland-based EDC Group NE Ltd, UK EDC Ltd and UK TCF Limited charged clients to collect debts on…
Editorial News

The Fed is ‘worried that layoffs will increase sooner and faster than hiring,’ says chief economist

The Federal Reserve announced its second consecutive cut to its benchmark interest rate on Wednesday, reducing the federal funds rate by a quarter percentage point to a range of 3.75% to 4%. While this will reduce borrowing costs for loans, credit cards…