Debt collection

The law will reduce from 12 years to three the time debt collectors have to pursue homeowners in court for fore­closure debt.

The Commercial Law League of America has debuted its newly revised commercial collection agency certification program.

U.S. Sen. Pat Toomey (R-Pa.) has introduced a bill with bi-partisan support that exempts collection attorneys engaging in litigation from the Fair Debt Collection Practices Act.

The owner of a Houston-based debt collection operation, along with two company managers, are banned from the industry. The three were charged with multiple Fair Debt Collection Practices Act and FTC Act violations.

Auto loan debt per borrower has increased for three consecutive years, up nearly 13% - more than $1,900 - since the trend began in Q1 2011.

Legislation in Minnesota designed to restrict the payday loan industry fell short Friday of winning final approval in the Minnesota Senate, meaning advocates of reform will have to wait until next year.

U.S. student loan debt rose to a record $1.2 trillion for the first quarter ended March 31, following a $31 billion jump, the Federal Reserve Bank of New York reported.

TransUnion attributes the improved delinquency and debt rates to consumers paying off charges made during the holiday season as well as consumers using their tax refunds to pay off debts.

Six U.S. senators sent a letter to the Consumer Financial Protection Bureau this week pushing the agency to take action to protect consumers from predatory storefront and online payday lenders.

A private and public partnership to recover taxpayers’ debt is an efficient alternative to prevent government program cuts or tax increases to make up for losses, according to the association.

A plan to restart a controversial program allowing the Internal Revenue Service to contract with private collection agencies to pursue millions of unpaid tax bills is now on the Senate floor.

DBA International, a debt-buying industry association, approved a new tagline that it will start using this month.

The pastors of New York City tabernacle must return $1.7 million in illegal loans.

U.S. foreclosure activity fell 1% in April as banks scheduled fewer auctions even as they reclaimed more homes, according to a report released Thursday by RealtyTrac, which tracks and compiles housing market data.

Two of the largest companies in the student loan market will pay $97 million to settle federal charges that they unlawfully charged military personnel high interest rates and late fees on student loans.

United Kingdom-based payday lender Cheque Centre is permanently leaving the payday loan business and has suspended related debt collection calls following enforcement action by the Financial Conduct Authority.

Collection efforts by businesses often damage customer relationships with negative communications tactics, according to a survey of 1,000 respondents commissioned by Nuance.

A new war is brewing between banks and their customers, and the fight is going public.

Six years after an investigation revealed EDebitPay LLC, Dale P. Cleveland and William R. Wilson and three now-defunct companies debited consumers' bank accounts without consent, checks totaling $3.7 million are finally on their way to the consumers.

Rep. Matt Cartwright (D-Pa.) introduced legislation to amend the Fair Debt Collection Practices Act, a response to a U.S. Supreme Court ruling last year.