CreditStrong for Business

JULY 24, 2024

It can be nail-biting to wait for your credit score to update after paying off debt. Especially if that bump in your score is helping you get approved for a new car loan, mortgage, or revolving credit account. In some cases, it can take up to two months for your credit score to reflect the payoff.

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CreditStrong for Business

JULY 1, 2024

Building credit is an important part of your financial life. Your credit score determines the loans and credit cards you can qualify for and the interest rates of the loans you can get. What Bills Help Build Credit? What Bills Help Build Credit?

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Biz2X

JULY 11, 2023

This guide makes the case for why lenders, including banks and credit unions, MUST invest in business loan automation. It also offers automated debt collection. AI-powered borrower pre-qualification-based data collected from accessible public sources, for example, credit rating platforms.

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CreditStrong for Business

OCTOBER 24, 2024

After doing a credit check, most lenders will require that borrowers demonstrate a verifiable source of income. Those who lack any other source of income and have a poor credit history will typically have very limited and less desirable options. The likelihood of approval varies based on the lender and other financial circumstances.

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Bankruptcy Credit Scoring Credit and Collections Credit Unions 52

Due

AUGUST 27, 2024

Following years of uncertain economic conditions, soaring inflation , and rising interest rates, many Americans report having more credit card debt than in emergency savings, according to a recent Bankrate survey. The process involves the ability of a person to repay the loan and the value of their vehicle.

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Biz2X

SEPTEMBER 10, 2024

These automated lending solutions are available for the end-to-end lending process, from application to risk assessment, credit review, approval process, and repayment options. The absence of small businesses is negatively impacting revenue at banks and other traditional lenders, including credit unions.

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Credit and Collections Credit Unions Debt Collections Small Businesses 40

Abrigo

NOVEMBER 22, 2021

Takeaway 3 Consumer compliance laws related to debt collection and preventing money laundering are also important for lenders. Major consumer loan compliance regulations cover everything from taking applications and approving or rejecting the credit to collecting payments and reporting to the government on various aspects of the loans.

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RMAi Blog

MARCH 14, 2025

The ANPR on coerced debt seeks to broaden the definitions of identity theft and identity theft report under Regulation V to address coerced debt scenarios, such as those arising from domestic violence or elder abuse. A Wisconsin borrower defaulted on two credit card accounts issued by a national bank. New York A.1356

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RMAi Blog

APRIL 12, 2023

The following bills of concern are a sample of the legislation that RMAI is currently engaging on behalf of the industry: California AB 1414 – This bill would exclude consumer credit accounts from the definition of “book account” which would force all litigation through a contract theory for litigation. NPAS, Inc. ,

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Law Firms Collector Credit and Collections Default 100

RMAi Blog

JANUARY 14, 2025

In This Update Last week the CFPB released its final rule on removing medical debt from credit reports. Medical debt information includes but is not limited to medical bills that are not past due or that have been paid. The blog contains tips for consumers on how to handle debt collection in the workplace.

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RMAi Blog

NOVEMBER 13, 2024

Ninth Circuit Affirms Ruling for CRA in Medical Debt Case; Vacates Ruling for Collection Agency Riser v. 7, 2024) A consumer incurred medical debt that was sent to a collection agency that reported it to a credit reporting agency (“CRA”). Portfolio Control, Inc. , 23-35502, 2024 U.S. LEXIS 28267 (9th Cir.

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