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Student Loan Debt

Federal Agency CFPB Offers New Tools to Student Loan Borrowers in Financial Distress

The U.S. financial watchdog Consumer Financial Protection Bureau (CFPB) Thursday released a new set of tools student loan borrowers can use if they run into trouble making payments on their accounts. The federal agency’s goal in the release is to help distressed borrowers avoid defaulting on their student loans and going into collections.

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ARM Firms Should Not Be Deceived by TCPA Victories

Debt collectors breathed a collective sigh of relief after the Eleventh Circuit reversed a district court ruling in the Mais case. Coupled with the FCC’s seemingly business-friendly declaratory rulings of GroupMe and Cargo Airline Association, matters appear to be on the upswing for creditor representatives with regard to the TCPA. But don’t be deceived: the relief brought by the positive developments must be tempered by the amicus curiae brief filed by the FCC in a case involving a collector.

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Department of Education Taps 11 Small Business Collectors for Student Loan Contract

The U.S. Department of Education late last week published a list of companies that won contracts under the small business set-aside on its Default Collection Services contract and private collection agency (PCA) program. There will be 11 small business collection agencies on the student loan collection contract. The previous contract featured only five.