(Bloomberg) — In the land of rising household debt, Canadians have one more thing to worry about. Delinquency rates are moving higher as the cost of living increases and servicing debt takes a bigger share of disposable income, according to … Continue reading →
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Student debt is like a loan shark who keeps breaking your fingers because you can’t pay him back. College students owe $1.7 trillion, second only to home mortgage debt. After you graduate and if you find a good-paying job, you … Continue reading →
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Education Secretary Betsy DeVos was held in contempt in federal court in October after a judge found the Department of Education had illegally tried to collect on the debt on more than 16,000 former Corinthian College students. The judge held … Continue reading →
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The primary motivation for the recently announced reforms to the Community Reinvestment Act was to modernize the law to account for technological advances, such as digital banking and branchless banks. Yet the only part of the joint proposal by the … Continue reading →
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BRENDAN SMIALOWSKI/AFP via Getty Images New figures show how much the IRS private debt collection program has recouped in back taxes. Debt collectors working for the Internal Revenue Service recouped nearly $213 million in owed taxes this year, the largest … Continue reading →
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The U.S. Court of Appeals for the Seventh Circuit recently reversed the dismissal of a debtor’s claim under the federal Fair Debt Collection Practices Act, holding that the debtor stated a plausible claim that the dunning letter she received violated … Continue reading →
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Experian Information Systems Inc., TransUnion LLC, and Equifax Information Services LLC will pay $38.7 million to resolve a consumer class action over errors on credit reports, after the Ninth Circuit affirmed the second version of the settlement. But the attorneys’ … Continue reading →
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WASHINGTON, D.C. — Education Secretary Betsy DeVos was accused of trying to destroy public education and of inflicting serious harm on students during a heated hearing Thursday. House Democrats on the Committee on Education and Labor blasted DeVos’ decision not … Continue reading →
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An account director of a debt collection company and the company have both been warned by the Commerce Commission over information given to debtors and for conduct which the Commission considers was likely to be harassment and/or coercion. The warnings … Continue reading →
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When you are loaded with debt, it can be difficult to imagine an end to it. More often than not, the payments feel like they stack with no end in sight, but the situation is almost never as terrible as … Continue reading →
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