Collection Industry News

Home - Collection Industry News
administrator
Educational News

Lawsuit over federal student loan caps highlights impact on nursing shortage

A coalition of 25 states and the District of Columbia sued the Trump administration this week over the new limits on federal student loans. For students pursuing careers in healthcare fields, such as nursing, social work, physical therapy and occupational therapy, the lawsuit…
Bankruptcy News

A fresh financial crisis may be coming – it won’t play out like the last one

On 15 September 2008, Bobby Seagull arrived at his office in Canary Wharf just before 6am. It was the last time he would need to be on time. He was a trader at Lehman Brothers, an American bank undergoing serious…
Government News

The bond market is flashing a warning over Iran. A veteran of energy geopolitics explains the risk

Don’t look now, but the pain from high energy prices might be about to bite Americans twice.  With no end in sight to the war in Iran and oil prices stuck above $100 a barrel, bond traders worried about inflation…
Legal News

Credit card debt dips to $1.25 trillion — but maintains ‘K-shaped’ pattern, New York Fed research shows

Credit card balances fell in the first quarter of 2026, decreasing by $25 billion, to $1.25 trillion, according to a new report on household debt by the Federal Reserve Bank of New York released Tuesday. Still, that’s a 5.9% jump from a year…
Bankruptcy News

Morristown Man Admits Multi-Million Dollar Scheme to Defraud Small Businesses by Offering Phony Debt Relief Services

NEWARK, N.J. – A Morristown man pled guilty on May 4, 2026 to conspiring to defraud small businesses by making false promises to induce them to enter debt relief contracts, U.S. Attorney Robert Frazer announced. “This defendant didn’t just break…
Press Release

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…
Educational News

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…
Editorial News

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…
Government News

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…
Legal News

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…