Collection Industry News

Home - Collection Industry News
administrator
Editorial News

Landlords Have a New Hardball Tactic: Tanking Your Credit Score

Landlords are turning to a hardball tactic to go after their tenants in rent disputes: tanking their credit scores. When David Murray moved out of his St. Louis apartment two months early, he thought he had settled up by giving…
Bankruptcy News

Embattled EV maker Nikola files for Chapter 11 bankruptcy protection

DETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations. Nikola said Wednesday that…
Legal News

Mortgage rates drop to lowest since mid-December, but demand still falls short

Mortgage interest rates dropped again last week, hitting the lowest level in two months, but demand for mortgages didn’t respond. Total mortgage application volume fell 1.2% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The…
Educational News

Trump administration removes student loan repayment applications from Education Department website

The Trump administration has taken down the applications for popular student loan repayment plans from the U.S. Department of Education’s website, leaving millions of borrowers with fewer options for now. Borrowers are unable to access the applications for income-driven repayment, or IDR, plans,…
Government News

Trump and Musk move to dismantle USAID, igniting battle with Democratic lawmakers

WASHINGTON (AP) — The Trump administration and billionaire ally Elon Musk moved to eradicate the agency that provides crucial aid that funds education and fights starvation, epidemic and poverty overseas, sparking a showdown with congressional Democrats who blasted the effort as illegal…
Editorial News

Canadian toll deadbeats cost NY, NJ millions as Port Authority sees overall loss of $1.53B in 4 years

Canadian drivers are racking up over a million-dollars-a-year in unpaid tolls, penalties and other fees on Port Authority crossings in New York and New Jersey, according to documents reviewed by The Post. The Port Authority of New York and New…
Bankruptcy News

Credit card debt hit a record $1.21 trillion — here’s why ‘no one should be surprised,’ expert says

Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven…
Legal News

More Than Half of Debt Collection Companies Saw Increased Volume of Accounts in Past 12 Months

TransUnion (NYSE: TRU) has released its sixth annual debt collections report, revealing that 52% of debt collection companies experienced increased account volumes in the past 12 months. While 62% expect better financial positions next year, companies face challenges with decreased collectability…
Educational News

U.S. Department of Education Cancels Additional $350 Million in Woke Spending

Today, the U.S. Department of Education cancelled over $350 million in contracts and grants to several Regional Educational Laboratories and Equity Assistance Centers. The Department terminated 10 contracts totaling $336 million with the Regional Educational Laboratories, the purpose of which…
Government News

Medical debt reforms threatened by Trump pause on new regulations

The Trump administration’s pause on new regulations threatens reforms made to ease the burden of medical debt. Although such reforms are broadly popular, and half of Americans worry they will be bankrupted by a major medical event, Republicans have opposed allowing the medical debt…