Collection Industry News

Home - Collection Industry News
administrator
Educational News

Biden cancels $1.2bn in student loan debt for 153,000 people

Move will forgive debts of people who borrowed $12,000 or less and have been repaying the money for at least 10 years. US President Joe Biden has said that his administration was cancelling $1.2bn worth of student loans for almost…
Government News

New York Fed sees trouble in auto borrowing as overall debt level rises

Feb 6 (Reuters) – Overall borrowing levels in the U.S. rose modestly during the final three months of last year as more types of borrowing ran into trouble, especially on the auto front, even as overall difficulties remained below levels…
Editorial News

U.S. Debt on Pace to Top $54 Trillion Over Next 10 Years

Congressional Budget Office projections released on Wednesday said a growing economy and recent spending cuts had slowed deficits. The United States is on a pace to add nearly $19 trillion to its national debt over the next decade as the…
Bankruptcy News

Quarterly Refunding Statement of Assistant Secretary for Financial Markets Josh Frost

WASHINGTON — The U.S. Department of the Treasury is offering $121 billion of Treasury securities to refund approximately $105.1 billion of privately-held Treasury notes maturing on February 15, 2024.  This issuance will raise new cash from private investors of approximately $15.9…
Legal News

US public debt tops $34 trln as Congress heads into funding fight

WASHINGTON, Jan 2 (Reuters) – The U.S. federal government’s total public debt has reached $34 trillion for the first time, the U.S. Treasury Department reported on Tuesday, as members of Congress gear up for another series of federal funding battles…
Educational News

The Biden administration owes student debt relief to thousands. Many haven’t seen it yet.

On Black Friday, Jason Apley was shopping with his wife when he checked his bank account and noticed he had about $500 less to spend than last holiday season. Unlike many Americans with crushing student loan debt, the 44-year-old father…
Government News

Consumers Hit the Brakes on Debt Just as it Reaches Record Levels

The American love affair with debt took a timeout in December. After piling on debt for much of the year – in 2023, the type of credit commonly provided by charge cards and other loans increased 8.4 percent – consumers slammed on…
Editorial News

Biden administration looks to forgive student debt of borrowers in hardship

The Biden administration announced on Wednesday that it will try to deliver student loan forgiveness to borrowers experiencing financial hardship. After the Supreme Court struck down President Joe Biden’s executive order to cancel up to $20,000 in student debt for tens of…
Editorial News

Only half of Americans believe they can pay off their December credit card bill

Only half of America’s credit card customers believe they can pay off their December balance in full, according to an industry index, signaling a low ebb in “credit card confidence” as the nation emerges from the holidays. The LendingTree Credit Card…
Bankruptcy News

Bankruptcy Filings Rise 16.8 Percent

Total bankruptcy filings rose 16.8 percent, with significant increases in both business and non-business bankruptcies, in the twelve-month period ending Dec. 31, 2023. This accelerates a continuing rebound in filings after more than a decade of sharply dropping totals. According…