Debt Collection Articles
General Credit related blogs by
Marcadis Singer, PA
Florida Debt Collection Attorneys & Creditors’ Rights.
Paying off debt is top priority for many consumers in 2023
According to a survey, many consumers will prioritize paying off debt in 2023. According to the 2022 Money Trend Report from consumer finance app Cleo, 42% of respondents responded that paying off debt was their top priority in 2022 despite the challenging economic...
US auto owners struggle as many loans need monthly payments of more than $1,000.
US auto owners struggle as many loans need monthly payments of more than $1,000. Concerns that US consumers may be taking on too much debt increased as the percentage of people paying at least $1,000 a month for their autos surged to record highs. According to data...
U.S. Debt Crisis Grows: Consumers Struggle to Pay Off Credit Cards
According to data from a consumer credit reporting agency during the third quarter, personal loans and credit card debt reached record levels in 2022 due to financial strains caused by high inflation and rising interest rates. According to TransUnion research, credit...
Hackers, Identity Thefts, Threaten Creditors in BlockFi Bankruptcy
BlockFi's cryptocurrency creditors have pleaded with the court to protect the confidentiality of their personal data. They assert that revealing their names as part of the bankruptcy process could expose them to identity theft or hacking. The odd request stems from an...
Consumer Financial Protection Bureau Evaluating New Standard Settings For The Industry
Before a public meeting of the Bureau's Consumer Advisory Board on November 2, CFPB Director Rohit Chopra read prepared remarks. He briefly discussed several subjects, including the Buy Now Pay Later market, big tech and data collection, peer-to-peer payment...
The Way that Major Credit Bureaus Record Outstanding Medical Bills is Changing
This month (July 2022), major credit reporting agencies started eliminating paid-off medical debt from people's credit reports. Additionally, it will take a year for new medical bills that individuals accrue and fail to pay promptly to appear on their credit records....
Outsourced Debt Collection Services Poised for Massive Growth
Outsourced Debt Collection Services Poised for Massive Growth Out now! An updated research report titled "Global Outsource Debt Collection Services Market Insights, to 2027" was released by Advance Market Analytics. Due to the current economic climate, businesses...
Use of Third Party Vendors in the Debt Collection Services Industry
Use of Third Party Vendors in the Debt Collection Services Industry The Hunstein Decision The debt collection sector, and the financial services industry in general, was shaken by the 11th Circuit Court of Appeals' ruling in Hunstein v. Preferred Collection and...
CFPB Rulemaking Table Simplification and Potential Registration of Nonbanks
CFPB Rulemaking Table Simplification and Potential Registration of Nonbanks The CFPB rulemaking process was the focus of Director Chopra's most recent blog post, "Rethinking the approach to regulations," posted in July 2022. The CFPB's efforts "to move away from...
New Communication Channels for Debt Collection
New Communication Channels for Debt Collection New guidelines by the CFPB increase how debt collection professionals can communicate with debtors. Consumers do not need to permit debt collectors to use their email, text, or social media accounts to contact them....
For new business, please call (813) 288-1881 Ext. 247
