Collection Recon

AG reaches $13.5 million settlement with Capital One

Posted on 19. Jan, 2012 by Collections Recon.

State officials have reached a $13.5 million settlement with credit card company Capital One, which is alleged to have used misleading advertising to unfairly saddle West Virginians in debt.

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U.S. Consumers Doing Better at Paying Retail and Bank Credit Card Bills

Posted on 16. Jan, 2012 by Collections Recon.

U.S. consumers continue to make timely payments and pay down their retail credit card and bank card balances, resulting in a significant reduction in the number of card write-offs over 2010 levels, according to Equifax’s latest National Credit Trends Report.

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Complaints about aggressive debt collectors on rise

Posted on 16. Jan, 2012 by Collections Recon.

When a collection agency contacted Letitia Mika in the summer of 2010 about $5,640 in credit card debt, she agreed to a settlement in which she would make monthly payments on half of it and the rest would be forgiven.

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Holiday Shopping More Costly for Some Capital One Cardholders, Says Hagens Berman

Posted on 09. Jan, 2012 by Collections Recon.

SEATTLE , Jan. 5, 2012 /PRNewswire/ — For Christmas shoppers across the country, the day of reckoning is at hand: those dreaded January credit-card bills are winding their way to the mailboxes of disciplined and over-exuberant shoppers alike. For some, though, banking on the promise of no-interest credit card offers, those credit-card bills may contain worse news than they imagine.

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Are those credit cards weighing you down? Here are some ways to reduce your debt in 2012

Posted on 06. Jan, 2012 by Collections Recon.

Trimming the fat may be the most popular New Year’s resolution out there, but trimming your debt is not far behind for a lot of people.

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TransUnion: National Credit Card Delinquencies Increase, but Remain Near Record Low Levels

Posted on 17. Nov, 2011 by Collections Recon.

TransUnion: National Credit Card Delinquencies Increase, but Remain Near Record Low Levels

CHICAGO, IL–(Marketwire -11/15/11)- The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) increased in the third quarter for the first time since the fourth quarter of 2009, edging upward to 0.71 percent. Average credit card debt per borrower increased $63 in the quarter to $4,762, though it remains near record-low levels. This information is reported by TransUnion and is part of its ongoing series of quarterly analyses of credit-active U.S. consumers, evaluating how they are managing credit related to mortgages, credit cards and auto loans.

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Debtors to collectors: Show proof the debt is really owed

Posted on 15. Nov, 2011 by Collections Recon.

Debt collector to credit card user: “Show me the money.” Credit card user to debt collector: “Show me the proof.”

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Capital One Transforms the Small Business Credit Card Category with the launch of Spark Business

Posted on 18. Oct, 2011 by Collections Recon.

MCLEAN, Va.–(BUSINESS WIRE)– Small businesses make up 64 percent of total U.S. job creation, 65 percent of the global GDP and account for nearly 90 percent of the world’s workforce1. Capital One Financial Corporation (NYSE:COF – News) is recognizing their contributions to driving the economy by offering them more rewards with the launch of a new Small Business Credit Card portfolio – Spark Business (www.capitalone.com/sparkbusiness).

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Debt After Death

Posted on 05. Sep, 2011 by Collections Recon.

Nobody wants to remember a deceased family member by the debt they left behind, but many creditors certainly make it difficult to forget.

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TransUnion: Consumers Made $72 Billion More in Credit Card Payments Than Purchases

Posted on 28. Jul, 2011 by Collections Recon.

Analysis Contradicts Belief That Balances Have Declined Primarily Because of Charge-Offs

CHICAGO, IL–(Marketwire – Jul 27, 2011) – A new TransUnion analysis found that consumers made an estimated $72 billion more in payments on their credit cards than purchases between the first quarters of 2009 and 2010. This is in contrast to the belief that charge-offs (where creditors write off debt that they deem is uncollectable as a loss) were the primary driver of lower credit card balances.

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