Consumer debt is growing to worrisome levels. Ben Mohr, senior research analyst of fixed income at investment consultant Marquette Associates, calculated that total U.S. consumer debt hit $14 trillion in the first quarter of 2019, surpassing the roughly $13 trillion … Continue reading →
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On July 1, the FTC announced, together with the New York attorney general, a settlement with two New York-based phantom debt operations and their principals (collectively, “defendants”) resolving allegations that the operations bought, placed for collection, sold lists of, and … Continue reading →
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College costs and student debt have become central issues in the 2020 election as presidential challengers, Sens. Bernie Sanders and Elizabeth Warren, have promised to forgive student debt. It’s unsurprising that this issue has garnered attention, as student debt has … Continue reading →
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The millennial generation (people in the age range 23-38) increased their average credit card debt by 7% in the past year. This is the second-largest increase in credit card debt among all generations. Experian examined millennial credit card usage and … Continue reading →
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As fintechs flooded the market with alternative payments and lending, legacy credit bureaus have scrambled to find partners, investments and acquisitions to keep up. Much as the fintech wave has sparked investments and deal-making among legacy bank technology vendors and … Continue reading →
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WASHINGTON — The country’s largest debt-settlement services provider agreed to pay $25 million in fines over allegations that it charged consumers for services it could not provide. Under an agreement with the Consumer Financial Protection Bureau, Freedom Debt Relief will … Continue reading →
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tolgart/Getty Images Your credit score determines everything from the purchases you make to the credit cards you qualify for. Yet not everyone is aware of what makes up their score and what factors affect it. A recent Bankrate survey found … Continue reading →
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Judge Alison Nathan of the Southern District of New York ruled on Wednesday that a case against nearly a dozen companies accused of defrauding student loan borrowers could proceed, rejecting a motion for the suit to be dismissed filed by … Continue reading →
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FORT WORTH — An Arlington man is suing a debt collection agency, alleging the defendant deceived him about a debt. Jeff Grey Jr. filed a class action complaint June 18 in the U.S. District Court Northern District of Texas Fort … Continue reading →
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By Yuka Hayashi Yuka Hayashi The Wall Street Journal Biography @TokyoWoods [email protected] July 5, 2019 5:30 am ET Doris Muir and Adolph Muir at their home in Philadelphia. The couple was sued in court to foreclose their home for allegedly … Continue reading →
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