Collection Industry News

Home - Collection Industry News
administrator
Legal News

Home buying costs could spike by 22% if US defaults on its debt

The United States has never defaulted on its debt, and it remains an unlikely outcome of the current standoff about raising the debt ceiling. But, if it were to happen — which could be as soon as June 1 without intervention — it would…
Editorial News

Choosing the Best Debt Collection Software Company: Key Considerations for Success

Introduction: Debt collection is a critical aspect of many businesses, and leveraging the right debt collection software can significantly streamline and optimize the process. With numerous debt collection software companies in the market, selecting the best one for your business…
Educational News

FTC Stops Student Loan Debt Relief Schemes that it Says Bilked Students Out of Millions

The Federal Trade Commission has stopped a pair of student loan debt relief schemes that it says bilked students out of approximately $12 million by using deceptive claims about repayment programs and loan forgiveness that did not exist. The agency…
Government News

Americans’ debt surpasses $17 trillion for the first time

Americans’ debt levels continue to climb to new heights at a time when economic conditions are becoming increasingly less stable. Household debt balances set a fresh record high of $17.05 trillion during the first quarter, growing $148 billion or 0.9% from…
Editorial News

Mortgage rates rise as debt ceiling standoff drags on

Mortgage rates are beginning to feel the impact of the debt-ceiling standoff, jumping higher for the second week in a row amid the uncertainty. The 30-year fixed-rate mortgage averaged 6.57% in the week ending May 25, up from 6.39% the week before,…
Editorial News

The Power of Online Directories: Why Law Firms Should List to Boost Their Visibility and Growth

Introduction: In today’s digital age, having a strong online presence is crucial for any business, including law firms. While having a well-designed website and engaging in social media marketing are important, listing your law firm in online directories specifically designed…
Bankruptcy News

Corporate bankruptcies are on the rise — and the pain won’t end for a while

From Vice Media to Bed Bath & Beyond, bankruptcies are picking up again. Last week, corporate America had its worst 48-hour stretch of bankruptcies since at least 2008, according to Bloomberg. That’s never a good comparison. So far, more than 230 companies…
Legal News

Action by FTC and Pennsylvania Leads to Permanent Ban For Debt Collectors That Targeted Businesses, Non-Profits, First Responders

As a result of actionby the Federal Trade Commission and the Commonwealth of Pennsylvania, debt collection company International Credit Recovery, Inc. (ICR), officer Richard Diorio, Jr., and manager Cynthia Powell, have agreed to a permanent banfrom the debt collection industry after being…
Editorial News

Uncovering Hidden Assets: Strategies for Locating Assets on Individuals and Businesses to Enforce Judgments

Introduction: When you’ve obtained a judgment in your favor, the next crucial step is enforcing it and recovering the owed amount. One significant aspect of the enforcement process involves locating assets belonging to the judgment debtor. By identifying these assets,…
Educational News

Lawmakers leave Washington without a debt limit deal as risk of default grows

A debt limit deal is still not yet close at hand for House Republicans and the White House as lawmakers leave the nation’s capital and the risk of a first-ever default grows. With no bill to vote on, House lawmakers…