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RECENT POSTS

Capital Recovery Blog

RECENT POSTS

Capital Recovery Blog

How Will a Recession Impact Consumer Spending?

The state of the American economy is becoming bleaker as days go by. With inflation pushing up the price of consumer goods and the recession looming forward, it’s only a matter of months before we feel the entire brunt of it. But, more than half of Americans don't...

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How Does Medical Debt Impact Older Americans?

Medical debt in the United States is at an all-time high. It is not a surprise that medical debt is the biggest generator of debt owed to collection agencies across the U.S. With over 90 percent of people in the United States having medical debt, it is evident that...

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What Does Medical Debt Look Like Across the United States?

Medical debt in the United States is at an all-time high. It is not a surprise that medical debt is the biggest generator of debt owed to collection agencies across the U.S. With over 90 percent of people in the United States having medical debt, it is evident that...

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Part Two: How Does the No Surprises Act Affect Medical Bills?

The No Surprises Act is a landmark piece of legislation passed on January 1, 2022, to protect consumers from surprise medical billing. In just two months after the Act was passed, more than 2 million surprise medical bills were avoided, and if the trend continues, the...

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Part One: What is the No Surprises Act?

The No Surprises Act is a federal law intended to prevent surprise medical bills by requiring health insurers and hospitals to have contracts with each other for covered services. According to the Act, patients cannot be charged for out-of-network emergency care,...

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The Hunstein Case Ruling & What It Means for Debt Collection

The debt collection industry has been waiting with bated breath for almost two years for the ruling on the Hunstein case.    Since most financial institutions use external vendors to send letters to their consumers, this landmark case has important implications for...

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What Debt Collections Companies Can & Can’t Do

I In 1977, the Federal Debt Collections Practices Act (FDCPA) was established by Congress to enforce regulations on debt collection companies and how they interact with consumers. The FDCPA also creates a level playing field for debt collectors who play by the rules....

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Millennials and Debt Collection: What Does the Data Show?

Millennials are the most indebted generation in the United States. They look like they've got a lot going on, but they live in numerous debts. According to a survey by Real Estate Witch, an average American millennial has more than $100,000 worth of debts.    Only 8%...

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How Does Medical Debt Create Lingering Financial Problems?

According to NPR, more than 100 million people in the United States are affected by medical debt.   Looking at the statistics, you can see that medical debt is causing lingering financial problems for people. And the surprising part is that having coverage doesn't...

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