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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CFPB in Action: A Roundup of Recent Activity - March 27, 2013
27 March 2013
Mike Ginsberg: Is Recent Economic Improvement Enough to Boost the ARM Industry?
6 March 2013
Banks Expecting to Issue More Credit in First Half of 2013
11 January 2013
Consumer Credit Jumps in November; Cards Grow Slowly
9 January 2013
Credit Card Delinquencies Fall to Lowest Level Since 1994
3 January 2013
Appellate Court Affirms that FDCPA Does Not Cover Creditors
12 December 2012
Credit Card Debt Grows in October, Along with Other Debt
10 December 2012
Consumer Credit Increases in September; Credit Card Debt Falls
9 November 2012
Executive Change: Portfolio Recovery Associates Appoints President for Fee-Based Units
2 November 2012
Seasoned Auto Finance Executive Launches Loan Portfolio Servicing
11 October 2012
Consumer Credit Surges in August
8 October 2012
Consumer Delinquencies Continue Decline In Q2; Card Arrears Lowest in 11 Years
4 October 2012
Average Account Balance in Collection Increases to All-Time High
30 August 2012
Equifax Reports Significant Improvement in Delinquency Rates Across Multiple Sectors
24 August 2012
Consumer Credit Default Rates Remain Near Recent Lows in July 2012
22 August 2012
National Auto Loan Delinquency Rate Hits New Record Low
21 August 2012
New Patent Could Turn U.S. Debt Portfolio Market on its Ear
31 July 2012
Consumer Delinquencies Continue Decline in First Quarter of 2012
3 July 2012
Six in 10 Mortgage Loan Modifications Go Delinquent in 18 Months, But Mod Consumers more Reliable
21 June 2012
State Sues Title Lender Over Debt Collection Practices
15 June 2012
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