Collection Industry News

Home - Collection Industry News
administrator
Government News

Claire’s new owner Ames Watson feuds with Asia-based suppliers over millions in unpaid debt

Tween retailer Claire’s is facing legal challenges from some of its Asia-based suppliers over millions in unpaid debts as it tries to emerge from a second bankruptcy under new ownership, according to claims the suppliers filed in Hong Kong.  The clash with…
Legal News

Trump tariffs: Small businesses take on high-interest rate loans to cover new costs

Some small businesses that have to pay the bill for President Trump’s new tariffs are taking on high-interest rate merchant cash loans and other forms of debt to cover that added cost. And several business owners who have taken on that costly debt…
Editorial News

Watchdog Warns Of US National Debt Interest Payments Hitting $1 Trillion

By Thérèse Boudreaux (The Center Square) – Budget watchdogs are sounding the alarm as the U.S. hit an unfortunate fiscal milestone in fiscal year 2025: government spending on debt interest payments alone topped $1 trillion this year. The federal government…
Bankruptcy News

Roomba maker files for bankruptcy, weighed down by debt and tariffs

The U.S. company that put robot vacuums into American homes has hit the skids. The maker of Roomba, called iRobot, has filed for bankruptcy about two years after its failed merger with Amazon. The company has struggled to keep up…
Government News

National Debt Hits $38.40 Trillion, Increased $2.23 Trillion Year over Year, $6.12 Billion Per Day

WASHINGTON, DC –Today, the Joint Economic Committee released its Monthly Debt Update for December, including the national debt’s interest rate and composition as of December 3, 2025. As of December 3, 2025, total gross national debt is $38.40 trillion. Relative to one year…
Educational News

Some student loan borrowers pay ‘more than necessary,’ advisor says. What to know about relief programs

With many federal student loan borrowers struggling to repay their debt, consumer advocates and financial advisors say it’s crucial that consumers know about the U.S. Department of Education’s affordable repayment plans and forgiveness programs. Unfortunately, some don’t. “Many borrowers end up paying more than necessary simply because…
Editorial News

Mexico Agrees to Meet Water Treaty Obligations for Farmers in the American Southwest

(Washington, D.C., December 12, 2025) – Today, the United States and Mexico reached an understanding to meet the current water obligations of American farmers and ranchers and for Mexico to repay the water deficit in Texas as part of the 1944 Water…
Educational News

U.S. Department of Education Announces Agreement with Missouri to End Biden Administration’s Illegal SAVE Plan

Today, the U.S. Department of Education announced a proposed joint settlement agreement with the State of Missouri that would end the Biden Administration’s illegal ‘Saving on a Valuable Education’ (SAVE) Plan. The SAVE Plan was the Biden Administration’s third and…
Bankruptcy News

Azul wins court nod for debt restructuring, American and United to invest

NEW YORK/SAO PAULO, Dec 12 (Reuters) – A U.S. bankruptcy judge on Friday approved Azul’s debt restructuring, allowing the Brazilian airline to slash more than $2 billion in debt and raise capital through a new equity rights offering and investment…
Legal News

Obamacare costs look set to spike for millions of Americans as Senate rejects duelling bills

Healthcare subsidies for millions of Americans appear likely to expire after the Senate rejected competing bills, a politically fraught issue ahead of next year’s midterm elections. Both Democratic and Republican plans fell short of the 60 votes needed to advance,…