Committee calls on several government agencies to address loan servicing and debt collection issues.
Spending rises by $15.94 billion, which is a 35% increase over Q3 2013’s figure.
Next year, New York debtors can limit debt collection communication to email only.
RealtyTrac data shows consumer debt a bigger obstacle than securing a down payment in the home buying process.
Read about CFPB collections scrutiny, outsourcing, retiree debt and more in this Focus Report.
The business of selling debt and the changing face of debt collectors.
Going outside the credit union's walls helps some get much-needed collection expertise.
A vast majority of pre-retirees between 51 and 61 years of age are approaching retirement with sizable amounts of debt.
How will the CFPB change debt collection practices?
The days of segmenting past due accounts into queues based on criteria such as priority, product and alphabetical order are over.