Collection Industry News

Home - Collection Industry News
administrator
Bankruptcy News

Amazon threatens ‘drastic’ action after Saks bankruptcy, says $475M stake is now worthless

Amazon wants a federal judge to reject Saks Global’s bankruptcy financing plan, writing in court papers the beleaguered department store “burned through hundreds of millions of dollars in less than a year” and failed to hold up their agreement.  When Saks acquired Neiman Marcus for $2.7…
Educational News

Trump administration’s delay on student loan collections offers borrowers time to get current

Student loan borrowers in default got a reprieve last week: The Trump administration said Friday it would postpone forced collections, for now. The pause is an about-face for the Department of Education, which had announced in late December that it would start seizing defaulted borrowers’…
Editorial News

Danish pension fund to sell $100 million in Treasurys, citing ‘poor’ U.S. government finances

Danish pension operator AkademikerPension said it is exiting U.S. Treasurys because of finance concerns as Denmark spars with President Donald Trump over his threats to take over Greenland. Anders Schelde, AkademikerPension’s investing chief, said the decision was driven by what it sees as “poor [U.S.]…
Government News

Bond sell-off accelerates as Trump ramps up tariff threats

U.S. Treasurys and other countries’ government bonds continued to sell off on Tuesday, as the White House’s rhetoric on tariffs fueled fresh fears of a trade war between the U.S. and Europe. By 6:10 a.m. ET, yields on U.S. Treasury…
Legal News

Education Department to delay collections on defaulted student loans

The Education Department announced on Friday that it will delay the implementation of wage garnishment and other involuntary collection efforts affecting defaulted student loan borrowers. The department said the delay affects involuntary collections on federal student loans through wage garnishments and the Treasury Offset…
Bankruptcy News

Mortgage rates drop to lowest level in nearly 3 years as Trump orders buying of $200 billion in mortgage bonds

Mortgage rates fell sharply on Friday, a day after President Donald Trump said on social media that he is instructing mortgage giants Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds. “This will drive Mortgage Rates DOWN, monthly payments DOWN, and make…
Editorial News

Trump’s credit card rate cap plan has unclear path, ‘devastating’ risks, bank insiders say

Bank executives were sent scrambling over the weekend after President Donald Trump declared late Friday that American credit card companies would be subject to a 10% cap on the interest rate they can charge customers. The move sent shares of large banks…
Educational News

Bankruptcy success rate for student loan borrowers jumps to 87%, study finds

Student debt has long been considered difficult, if not impossible, to discharge in bankruptcy. But that hasn’t been the case in recent years, a new study finds. The success rate for student loan borrowers who attempt to discharge their debt in bankruptcy has “jumped” to…
Government News

What’s Changing in US Debt Collections in 2026 and Why It Matters Now for Creditors

January is typically when creditors reassess risk, performance, and partners. In 2026, that reassessment carries more weight than usual. Consumer financial pressure remains elevated, regulatory expectations are firm, and borrower behavior continues to evolve. Together, these forces are reshaping how…
Bankruptcy News

Saks Group reportedly preparing to file bankruptcy after missing debt payment

Saks Global is preparing to file for bankruptcy in the coming weeks after missing a debt payment tied to its Neiman Marcus acquisition, The Wall Street Journal reported on Wednesday, citing people familiar with the matter. The parent of high-end department store chain Saks Fifth…