Side Hustles Helping Consumers Make Ends Meet
Side hustles have been a thing for a while now. But more and more consumers are relying on those side hustles to help make ends meet. For a lot of people living paycheck to paycheck, those side hustles...
View ArticleActing Comptroller Discusses Importance of Consumer Financial Health
Consumers who are financially healthy are able to pay their debts. That means it behooves companies in the credit and collection industry to do what they can to help consumers remain financially...
View ArticleStudent Loan Debt to Have ‘Major’ Influence on How 30% of Consumers Vote: Survey
Consumers’ views on student loan debt are going to play a major factor in who wins November’s presidential election, according to the results of a survey conducted by Bankrate. Student loan debt...
View ArticleMore Consumers Living Paycheck-to-Paycheck
In an economy that appears robust on the surface, a significant portion of American consumers are grappling with financial challenges that deeply influence their shopping behaviors. These consumers,...
View ArticleJob Switching Remains Popular, But Switchers Getting Smaller Raises Than...
While the number of individuals who are switching jobs remains relatively high, the pay raises that those individuals are receiving when changing one job for another have dropped to pre-pandemic...
View ArticleLegalized Sports Betting Hurting Consumers’ Financial Health: Study
For those who have models or analytics to help them determine whether an individual is likely to repay a debt, have you considered whether sports betting in that state is legal or not? You may, after...
View ArticleAbility to Handle $400 Emergency Displays Consumers’ Financial Resiliency:...
More than 90% of households can handle a $400 expense shock, with low-income households showing unexpected resilience, according to a report released this week by The JPMorganChase Institute. By the...
View ArticleMore Consumers Carrying Credit Card Debt, Fewer Consumers Have Plan to Pay it...
Credit card debt is on the rise, reaching levels not seen since the early days of the pandemic. Half of credit cardholders now carry a balance from month to month, up from 44% in January and the...
View ArticleCredit Card Balances Keep Rising, While More Consumers Making Just Minimum...
In what is a recipe for problems, the average credit card balance for consumers continues to trend upward while the number of consumers making more than the minimum payment on their card balances every...
View ArticleFintech Aimed at Helping Consumers Pay Down Debt Shutters
Tally, a fintech that helped consumers pay down credit card debt and was once valued at $855 million has closed its doors and laid off all of its employees, the company announced. Driving the news: In...
View Article700 Rural Hospitals At Risk of Closing Doors: Report
As many as 700 rural hospitals, about one-third of the total number, are at risk of closing their doors, according to a new report. Of these, 360 are in immediate danger, which poses a significant...
View ArticleReport Looks at the Impact of Student Loan Debt Forgiveness on Individuals’...
A report from The Wall Street Journal this weekend looks at the impact that having student loan debt forgiven is having on those individuals, ultimately reaching the conclusion that while some may be...
View ArticleDebit Cards Dominate Digital Wallets as Consumers Prioritize Spending Discipline
As consumers increasingly turn to digital wallets for transactions, understanding the underlying payment methods they prefer is crucial for businesses, especially those in the credit and collection...
View ArticleMore Consumers Tapping Credit Cards to Make Ends Meet: Report
A recent field note from the Federal Reserve Bank of Boston reveals that, despite a significant drop in inflation, 59% of U.S. adults surveyed in May are still highly concerned about future price...
View ArticleMore Consumers Prefer Digital Payment Options for Bills, But are Wary of Debt...
Digital payment preferences are rapidly increasing among U.S. consumers, offering both opportunities and challenges for professionals in the credit and collection industry, according to the results of...
View ArticleThe States Where Consumers Are Having the Toughest Time Making Ends Meet
If you are curious what parts of the country are doing better — or worse — financially than others, or if you are looking for a data source to help you develop collection strategies, the Census...
View ArticleFinancial Stress Impacting Workforce Productivity and Debt Repayment: Report
A new report reveals growing financial stress among American workers, which is affecting workplace productivity and individuals’ ability to manage debt, including medical bills. According to the...
View Article20% of Student Loan Borrowers Making No Payments: Study
A new study released by Intuit Credit Karma reveals that a large majority of individuals with student loans have not made any payments following the end of the pandemic moratorium and many are worried...
View ArticleHousehold Income Grows in 2023
Three reports released by the Census Bureau this week delve into the state of household income, poverty, and health insurance, providing important insights into the state of consumers’ finances. For...
View ArticleConsumers’ Financial Situations Continue to Worsen: JPMorgan Chase
The savings nest eggs that people built up during the COVID-19 pandemic are all but gone, according to new research from the JPMorgan Chase Institute. As savings dwindle, consumers are becoming more...
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