How to Transform Charged-Off Debt into Revenue
Learn Why Creditors Are Selling Charged-Off Debt Recent reports reveal that major U.S. banks like JPMorgan Chase and Bank of America are grappling with significant losses due to unrecoverable debt. JPMorgan Chase reported $2 billion in net charge-offs for the first quarter of this year, nearly double the same period last year, while Bank of […]
Shifts in Consumer Debt: Insights and Strategies for Lenders
Recent studies, including a detailed report by Experian and the latest data from the Federal Reserve Bank of New York, highlight significant shifts in the landscape of consumer debt in the United States. These changes, characterized by increasing charge-offs and delinquencies, underscore the need for lenders to develop comprehensive strategies to effectively address these challenges. […]
Webinar – Reviving Financial Resilience – TransUnion’s Recovery Model & Legal Strategies Unveiled
Reviving Financial Resilience RMAi recently presented a TransUnion-sponsored webinar titled “Reviving Financial Resilience: TransUnion’s Recovery Model and Legal Strategies Unveiled,” which focuses on TransUnion’s recovery model and legal strategies for debt collection. It highlighted using data to build predictive models, which replace manual reviews and provide empirical results. Key elements include credit, demographic, non-traditional credit, […]
The Buy Now, Pay Later Phenomenon
The Rise of BNPL: A Financial Revolution In our dynamic financial era, the Buy Now, Pay Later (BNPL) model isn’t just a trend—it’s a revolution. Projected to boost global consumer spending to an astonishing $437 billion by 2027, BNPL is reshaping not just consumer behavior but also the very fabric of financial decision-making. Understanding Buy […]
Resuming Student Loan Payments Will Affect Consumer Credit Risk
Resuming Student Loan Payments Will Affect Consumer Credit Risk A recently released white paper from BCG and TransUnion explores the impact that resuming federal student loan payments will have on consumer credit markets and provides lenders with guidance to mitigate the increased risk. “How Resuming Student Loan Payments Will Affect Consumer Credit Risk” (November 2023), […]
Mastering Compliance: Strategically Elevate Your Regulatory Game Amid CFPB’s Enforcement Expansion
Mastering Compliance in a Changing CFPB Landscape: EverChain’s Approach In recent announcements from the Consumer Financial Protection Bureau (CFPB), we’ve learned about significant staff increases, particularly within its Enforcement Division. Currently, their Enforcement branch comprises approximately 150 enforcement attorneys and support staff. With the addition of 75 new full-time employees to this division, there will […]
Navigating the Complexities of Debt Sales: How Brokers Add Value
Navigating the Complexities of Debt Sales: How Brokers Add Value Creditors today are keen on expanding their recovery strategy. This often includes exploring debt portfolio sales to third-party buyers. But the process of selling debt often involves some hurdles, especially in establishing a fruitful, long-term relationship with a [fusion_tooltip title=”What’s a debt buyer?” class=”” id=”” […]
Liquidating Your Consumer Debt: How Creditors Benefit from Selling Charge-Offs
Liquidating Your Consumer Debt: How Creditors Benefit from Selling Charge-Offs Author: Matt Stone Navigating the complexities of consumer lending often leads creditors to an unavoidable challenge: charge-offs. While these defaulted accounts are typically written off as losses, they can actually become valuable assets when sold to debt-buyers. With EverChain’s expertise, lenders have successfully transformed these […]
Unlocking Value: A Guide for Selling Consumer Debt
Unlocking Value: A Guide for Selling Consumer Debt Author: Matt Stone Consumer lending offers lucrative opportunities but also comes with inherent risks. While the majority of borrowers fulfill their financial commitments, some loans inevitably become charge-offs, impacting your profitability. What if you could liquidate these non-performing loans, all while safeguarding your brand and bottom line? […]
What’s a Debt Buyer?
What’s a Debt Buyer? If you’ve ever had a debt in collections, you may have experienced your account being purchased by a debt buyer. Debt buyers are businesses in the financial industry that partner with credit issuers to relieve some of the financial loss that can occur from lending money, goods, or services for which the […]
