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Auto Finance Receivables

Auto loans are the most common secured debt in the U.S. If a debtor defaults on an auto loan, the creditor can typically repossess the asset – the car – securing the loan. But if the asset is in a state of disrepair or otherwise diminished in value, the creditor cannot recoup the total balance owed by selling the car. So a deficiency balance is due from the debtor, with the balance becoming a receivable on the creditor’s books.

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Big Shifts in Debt by Age: A Very Literal Interpretation of Knowing Your Debtor

A recent credit report study from TransUnion found that the composition of loans that people typically carry has materially changed for both the youngest and oldest segments of the population during the last decade. Not only did economic forces prompt change, but general demographic shifts have changed the composition of outstanding credit among different age groups in the U.S.

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Federal Judge Says FCC Fails on Consent Rules Clarity in TCPA Class Action Ruling

A district judge in Wisconsin last month denied a plaintiff’s petition for class certification in a TCPA case concerning debt collection calls. In an epic footnote discussing his reasoning, the judge noted that the FCC has been lacking in clarifying its rules on consent under the TCPA, and that efforts have revealed that the regulator “appears to be allergic to brevity and clarity.”