The way people approach debt has changed dramatically ever since COVID-19 hit — and so have their financial priorities. With layoffs, pay cuts, and furloughs adding to the mounting debt, many people have been hit financially for the last two years. So how are each...
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Capital Recovery Blog
RECENT POSTS
Capital Recovery Blog
Changes in Medical Debt and Credit Reporting: What Your Practice Needs to Know
If you’re a doctor, you know that the world of medical billing is complicated. It’s hard enough to keep track of all the details of your patients’ insurance coverage, but now there are also new rules about how medical debt shows up on credit reports. What does this...
What Collection Methods Work Best for Collections Agencies?
Debt collection can be complicated, especially when dealing with a large customer base. You have to make sure you're treating everyone fairly and equally — but that's easier said than done. At times, collecting debts can even be extremely tedious and challenging. ...
Top Four Laws that Regulate the Debt Collections Industry
Several types of laws regulate the debt collection industry. Regulations are intended to curtail the excesses of these debt collectors because where there are no laws, there are no offenders. These regulations look out for consumers while keeping debt collectors in...
What Are The Biggest Types of Consumer Debt?
People facing tough times fall into a debt trap for many reasons. They may have a hard time matching the rise in inflation and can resort to quick loans for their household expenses. Or they may have a hard time getting out of debt and end up refinancing their loans —...
5 Major Factors Affecting Demand for the Collection Industry
MarketResearch reports that the U.S. debt collections industry is worth $15 billion. The U.S. debt collection industry has recorded 2.6% yearly growth since 2017. This growth shows that the demand for the debt collections industry is on the increase. And there are...
How Does Inflation Impact the Debt Collections Industry?
The mere mention of the word 'inflation' causes dread in the hearts of ordinary people and business leaders alike. Inflation leads to a higher cost of living which means people are forced to borrow more money to meet their monthly expenses. And people get trapped in...
What Are the Main Consumer Complaints in Debt Collection?
According to the CFP Bureau, they received 82,700 debt collection complaints from consumers in 2020. A ten percent increase more than complaints of 2019. These stats show that the complaints about debt collection are on the rise. Most complaints result from debt...
Important Debt Collection Statistics to Know in 2022
Debt collection industry analytics provide deep perception into the U.S. marketplace for expert debt collection offerings. Understanding how the debt collections industry has managed over the last two years of crisis can allow organizations to dive deeper into key...
