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Office of Research blog: Initial Fresh Start program changes followed by increased credit scores for affected student loan borrowers

https://www.consumerfinance.gov/archive/blog/initial-fresh-start-program-changes-followed-by-increased-credit-scores-for-affected-borrowers/

Percent w/non-medical collection (%) 18 50 37 42 Percent w/medical collection (%)...condition on having non-student loan debt and include borrowers with $0 balances

FCO Holding, Inc., Fair Collections & Outsourcing, Inc., Fair Collections & Outsourcing of New England, Inc., FCO Worldwide, Inc. and Michael E. Sobota

https://www.consumerfinance.gov/enforcement/actions/fco-and-sobota/

...of Maryland against Maryland-based debt collectors FCO Holding, Inc. and its...of Maryland against Maryland-based debt collector FCO Holding, Inc. and its...that FCO and Sobota violated the Fair Debt Collection Practices Act when FCO represented

Archived
Consumers who were charged illegal fees by Howard Law, P.C. will receive compensation

https://www.consumerfinance.gov/archive/blog/consumers-charged-illegal-fees-by-howard-law-pc-will-receive-compensation/

...fees by Howard Law, P.C. for seeking debt relief may receive compensation from...fees to struggling consumers seeking debt relief. Learn more about the lawsuit

Archived
Prepared Remarks of CFPB Director Richard Cordray to Corporation for Enterprise Development Assets Learning Conference

https://www.consumerfinance.gov/archive/newsroom/prepared-remarks-cfpb-director-richard-cordray-corporation-enterprise-development-assets-learning-conference/

...basic needs such as housing, food, or medical care. Any unanticipated crisis, no...consumers to get caught in cycles of debt or end up saddled with financial products

Carrasquillo v. CICA Collection Agency

https://www.consumerfinance.gov/compliance/amicus/briefs/carrasquillo-v-cica-collection-agency/

First Circuit arguing that the Fair Debt Collection Practices Act’s prohibition...2024 The Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from...connection with the collection of any debt.” The Bureau filed an amicus brief arguing

I'm interested in starting a business, but I have student debt. What do I need to know?

https://www.consumerfinance.gov/ask-cfpb/im-interested-in-starting-a-business-but-i-have-student-debt-what-do-i-need-to-know-en-1691/

...starting a business, but I have student debt. What do I need to know? It is possible...By understanding the impact student debt can have on your credit and taking advantage

Will a Buy Now, Pay Later (BNPL) loan impact my credit scores?

https://www.consumerfinance.gov/ask-cfpb/will-a-buy-now-pay-later-bnpl-loan-impact-my-credit-scores-en-2117/

...failure to repay may be reported by a debt collector....failure to repay may be reported by a debt collector. Most BNPL products that let...BNPL loan and it is turned over to a debt collector, it could be reported to a

Archived
CFPB and 11 States Order Prehired to Provide Students More than $30 Million in Relief for Illegal Student Lending Practices

https://www.consumerfinance.gov/archive/newsroom/cfpb-and-11-states-order-prehired-to-provide-students-more-than-30-million-in-relief-for-illegal-student-lending-practices/

...violated the law, and resorting to abusive debt collection practices when borrowers...violated the law, and resorting to abusive debt collection practices when borrowers...“Prehired lured student borrowers into debt with false promises of job placements

Pablo Alvarez

https://www.consumerfinance.gov/rules-policy/petitions-rulemaking/pablo-alvarez/

...creditors to provide proof of consumer debt to Credit Reporting Agencies (CRAs)...creditors to provide proof of consumer debt to Credit Reporting Agencies (CRAs)

Archived
Prepared Remarks of CFPB Director Richard Cordray at the Consumer Advisory Board Meeting

https://www.consumerfinance.gov/archive/newsroom/prepared-remarks-of-cfpb-director-richard-cordray-at-the-consumer-advisory-board-meeting-20150219/

...some of the other businesses (such as debt collectors) that furnish information...have focused on the reporting of medical debt in collections because of concerns

How does a lender decide what interest rate to offer me on an auto loan?

https://www.consumerfinance.gov/ask-cfpb/how-does-a-lender-decide-what-interest-rate-to-offer-me-on-an-auto-loan-en-765/

...score, your credit history, income, debts, and down payment – when deciding what...score, your credit history, income, debts, and down payment – when deciding what...scores and history Your income and debts Amount of the loan Length of time you’ll

Archived
Save the date, Milwaukee!

https://www.consumerfinance.gov/archive/blog/save-the-date-milwaukee/

...field hearing in Milwaukee on student debt. The hearing will take place on Thursday...field hearing in Milwaukee on student debt. The hearing will take place on Thursday

Archived
Joanne Alter Women in Government Lecture

https://www.consumerfinance.gov/archive/newsroom/joanne-alter-women-in-government-lecture/

...didn’t plan to pay and canceling their debts in bankruptcy. That wasn’t what I found...family faces a layoff or a sudden medical bill or expensive home repair. And

An analysis of the first seven months of the federal student loan return to repayment

https://www.consumerfinance.gov/data-research/research-reports/analysis-of-first-seven-months-of-federal-student-loan-return-to-repayment/

... Delinquencies on non-student loan debts were higher at the end of the payment...five times more likely to have a non-medical collection appear on their credit

Supervisory Highlights, Issue 26, Spring 2022

https://www.consumerfinance.gov/data-research/research-reports/supervisory-highlights-issue-26-spring-2022/

...reporting, credit card account management, debt collection, deposits, mortgage origination...Topics • Auto loans • Credit cards • Debt collection • Deceptive practices • Fair...Fair Credit Reporting Act • Fair Debt Collection Practices Act • Money transfers

Issue Spotlight: Social Security Offsets and Defaulted Student Loans

https://www.consumerfinance.gov/data-research/research-reports/issue-spotlight-social-security-offsets-and-defaulted-student-loans/

...visit or did not obtain prescription medication due to cost. Existing minimum income...and/or did not obtain prescription medication due to cost.31 Moreover, 36 percent

Unexpected job loss

https://www.consumerfinance.gov/consumer-tools/unexpected-job-loss/

...temporarily, can still get care from medical providers. Be sure to get the care...urgent situations. Ask the hospital or medical provider for help with bills you can’t

Bluestem Brands, Inc.; Bluestem Enterprises, Inc.; and Bluestem Sales, Inc., also doing business as Fingerhut and Gettington.com

https://www.consumerfinance.gov/administrative-adjudication-proceedings/administrative-adjudication-docket/bluestem-brands-inc/

...payments to the Bluestem companies on debts that the companies had already sold...sending those payments to the third-party debt buyers....File number 2018-BCFP-0006 Topics • Debt collection • Enforcement Date filed

Issue Spotlight: Home Equity Contracts: Market Overview

https://www.consumerfinance.gov/data-research/research-reports/issue-spotlight-home-equity-contracts-market-overview/

...primarily use home equity contracts for debt consolidation and home improvements...claim home equity contracts are not debt. Marketing websites state that home

Archived
CFPB Orders TitleMax to Pay a $10 Million Penalty for Unlawful Title Loans and Overcharging Military Families

https://www.consumerfinance.gov/archive/newsroom/cfpb-orders-titlemax-to-pay-a-10-million-penalty-for-unlawful-title-loans-and-overcharging-military-families/

September 26, 2016, for its lending and debt-collection practices. In the 2016 Order...company engaged in illegal high pressure debt collection practices. The CFPB ordered