Editorial News

Bloomberg Economics ran a million forecast simulations on the US debt outlook. 88% of them show borrowing on an unsustainable path. The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97%…

The use of AI in the sector only looks set to grow; even though just over 10% of collections firms currently employ AI-driven tools in the US, around 60% are considering implementing them. The benefits are clear: AI tools can predict which…

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. Hochul made it clear that the state will assist consumers in New…

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…

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…

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…

Jan 10 (Reuters) – The U.S. legal industry has already seen a flurry of new law firm mergers in 2024, as Kilpatrick Townsend & Stockton on Wednesday became the latest to announce a combination with a smaller firm. Atlanta-founded Kilpatrick…

Poorest countries face risk of debt crises as borrowing costs surge WASHINGTON, Dec. 13, 2023—Amid the biggest surge in global interest rates in four decades, developing countries spent a record $443.5 billion to service their external public and publicly guaranteed…

KNOXVILLE, Tennessee — The Federal Reserve Bank of New York has been tracking credit card debt since 1999. Credit card debt in the U.S. is at the highest level it’s been since then, with the total amount of debt in the third…

If you have a debt in collection, it’s often a challenging time. You may be having a difficult time financially and that can be frightening. And if a debt collector contacts you about your debts, you may have concerns about…