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New State Law Aims To Limit High-Interest Consumer Debt

August 14, 2019CreditBy toptierfinancial

SPRINGFIELD — Illinois residents who have had judgments entered against them for consumer debts will soon start paying less interest on those debts, and collectors will have a shorter timeframe in which to collect on those debts. That’s the result … Continue reading →

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Florida residents are the fourth-worst in the U.S. for paying back loans

August 14, 2019CreditBy toptierfinancial

click to enlarge Photo by Sharon McCutcheon/Unsplash With a little to no affordable housing, a swath of low paying jobs, and skyrocketing healthcare costs, it really shouldn’t come as a surprise to anyone that Floridians are drowning in debt. Financial … Continue reading →

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Brussels must make European banking a reality

July 31, 2019CreditBy toptierfinancial

As Brussels goes back to work after the elections, banking should be at the top of its agenda as an issue of strategic importance. European financial services must be strengthened in three ways to ensure that we can finance our … Continue reading →

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NY Officials Call For Debt Collection Industry Standards

July 31, 2019CreditBy toptierfinancial

By Patrick Connelly  – Editor/Reporter, Buffalo Law Journal, Buffalo Business First a day ago The Buffalo area’s legal service entities get calls about it nearly every day. Individuals who reach out to the services for assistance are troubled about the calls … Continue reading →

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Ford Credit scales back leasing

July 31, 2019CreditBy toptierfinancial

Ford Motor Credit’s lease volume has dropped to its lowest level in more than four years, according to an analysis by Auto Finance News. The captive originated 81,000 leases last quarter, down 22% year over year. In the past four … Continue reading →

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Parents Are More Worried about Their Children’s College Expenses

July 31, 2019CreditBy toptierfinancial

According to a new study from Discover Student Loans, parents have become increasingly worried about how their children will pay for college. A staggering 65% of parents feel they may not have enough money to pay for their child’s education, … Continue reading →

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10,000 in Appalachia will see medical debt forgiven, highlighting national issue

July 31, 2019CreditBy toptierfinancial

More than 10,000 people in Appalachia will sigh with relief this month after two donors from the region helped nonprofit RIP Medical Debt purchase and forgive $10 million of medical debt. But it’s just a drop in the bucket of … Continue reading →

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A modern financial dilemma: Will I retire before paying off my student loans?

July 27, 2019CreditBy toptierfinancial

Gina Armer had successfully funded two bachelor’s degrees and a master’s degree, so when she decided to start an evening doctoral program, she felt confident. “I was thinking a PhD is my key to the world … [and that] when … Continue reading →

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CFPB Announces $60 Million Fine Against Debt Collectors

July 27, 2019CreditBy toptierfinancial

The Consumer Financial Protection Bureau has shifted its focus under the leadership of Kathy Kraninger. Photo: Patrick T. Fallon/Bloomberg News By Lalita Clozel Lalita Clozel The Wall Street Journal Biography July 25, 2019 7:23 pm ET WASHINGTON—The Consumer Financial Protection … Continue reading →

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2 Upstate NY Debt Collectors Out Of Business, Face $66M In Penalties

July 27, 2019CreditBy toptierfinancial

BUFFALO, N.Y. (AP) — Two Upstate New York debt collectors are banned from the business and expected to pay millions of dollars to settle allegations they inflated debts and threatened consumers. State Attorney General Letitia James announced the settlements with … Continue reading →

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