Debt collection

Consumer borrowing jumped to $3.28 trillion in September, up approximately $15.9 billion, according to the Federal Reserve’s monthly report on auto and student loans and credit card debt.

Debt buyer PRA Group on Monday reported third quarter net income increased 8% to $51.2 million on cash collections of $372.7 million, a 28% jump. Revenue in the quarter rose 21% compared to a year ago to $239 million.

As the Consumer Financial Protection Bureau prepares to write nationwide rules for payday lending, a Colorado experiment is proving instructive.

Florida Attorney General Pam Bondi’s office has sued Consumer Collection Advocates Corp. and Michael Robert Ettus, principal, for allegedly targeting consumers who were victims of previous frauds or scams.

Debt buyer Encore Capital Group Inc. reported Thursday that total revenues in the third quarter ended Sept. 30 increased 16% to a record $273.3 million, compared to $235.6 million in the year-ago period.

Every day, debt collectors deal with people who have found themselves in tough and sensitive financial situations.

Three Colorado law firms accused of inflating foreclosure costs charged to homeowners and padding bills with unauthorized expenses agreed Thursday to settle lawsuits filed by outgoing Colorado Attorney General John Suthers.

A Minnesota process serving company and one of its process servers are charged with falsely claiming some people were served with debt collection lawsuits, according to a lawsuit filed Thursday by Minnesota Attorney General Lori Swanson.

Tucker, Albin and Associates Inc., a Richardson, Texas-based commercial debt recovery firm, has been certified by the Commercial Law League of America (CLLA).

Executives at The Intelitech Group and eBureau will lead a session Friday at ACA International's Fall Forum & Expo at the Hyatt Regency in San Francisco.

City leaders in Charleston, W.Va. hope to recover an estimated $3.1 million in delinquent fees by publishing the names of the largest offenders on the city's website.

U.S. asset manager Fortress Investment Group and Italy's Prelios, a real estate group, are expected to jointly purchase UCCMB, the debt collection unit of UniCredit, Italy's largest bank by assets.

Years of budget cuts are having a negative impact on the ability of the Internal Revenue Service to collect delinquent taxes, according to a new government report.

For many months, subprime auto lenders have been insisting that the industry's boom will not be a precursor to the kind of collapse that knocked out the subprime mortgage business.

Green Tree Servicing LLC will pay $232,000 to Vermont consumers and the state for the firm's faulty debt collection practices and the late payment of property taxes.

Naming an inspector general at the Consumer Financial Protection Bureau would result in a net cost of $49 million between 2015 and 2024, according to a Congressional Budget Office report.

The Federal Trade Commission is suing debt broker Bayview Solutions LLC for posting the debt portfolios of 28,000 consumers online, including full bank account and routing numbers.

Two Native American tribes have dropped their federal lawsuit against the state of New York that claimed its' campaign against payday lenders violated their rights as sovereign tribes.

Collection industry giant NCO Financial System's parent company Expert Global Solutions (EGS) announced Monday it has closed a previously announced deal to sell several business segments to a private equity firm.

The fate of a New York City law governing debt collections is headed to New York's highest court to answer questions resulting from Berman v. City of New York, a lawsuit brought five years ago by a collection law firm challenging the city's statute regulating collection attorney activities.