Industry Headlines

"An Unsteady House of Cards"

Credit card issuers face tough times ahead. Consumer confidence and spending are withering fast thanks to the economic downturn sparked by the subprime mortgage crisis. Now what?
         —Collections & Credit Risk, August 2008

"Chasing the Hidden Dollar"

Lenders in this troubled economy are reexamining where their risk assessments failed. Can they improve processes to lessen the fall?
         —Collections & Credit Risk, August 2008

"Issuers Face Bigger Losses than Expected"

Credit card issuers in the coming months are likely to suffer greater losses than first expected, hit by both a growing reliance on cards by cash-strapped consumers and general weakness in the economy.
         —Collections & Credit Risk, August 2008

"TransUnion: Delinquencies Are Up 62% and Headed Higher"

A TransUnion analysis of consumer loan data find that residential home loan delinquencies have risen for five straight quarters, with 3.23% of borrowers being 60 or more days behind on their mortgage payments during the first quarter of 2008.
         —National Mortgage News, July 7, 2008

"Best Practices to Manage Risks & Enhance Returns"

In the last few years, financial institutions and lenders began to experience turbulent times as the U.S. housing market downturn rippled into a much larger economic wave affecting not only household debt but also consumer confidence. This unexpected event set the stage for new challenges for the collections industry.
         —Collections & Credit Risk, July 2008

"Mid-Year Outlook: New Strategies in the Search for Cash"

As the years hits its midpoint, collection agency executives are warily looking ahead. They see a growing number of bad debt placements, but with a corresponding fall in liquidation rates. The failing economy and a housing mess, along with high gas and food prices, are putting a definite crimp in debtors’ ability to repay their bills.
         —Collections & Credit Risk, July 2008

"When, Why & How Small Businesses Turn to Collection Agencies"

When the economy takes a turn for the worse, bills take longer to get paid. Established companies have been here before, but start-ups that rode the wave in recent years are in for a painful lesson. Many may be dealing with a pattern of past due receivables for the first time in their history.
         —Reuters, June 16, 2008