10:27:28 PM PST - Monday, December 5th, 2022

With fresh capital, Symend aims to build a better debt collection system  

By Editor - Thu Nov 17, 3:47 am

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Squeezed by the recessionary COVID-19-era economy and the rising prices of everyday goods, some consumers are increasingly turning to lines of credit to make ends meet. According to a September 2021 survey from Bankrate.com, 42% of U.S. adults with credit card debt increased their balances since the pandemic began in March 2020. A more recent report from the Federal Reserve Bank of New York estimates that total household debt in Q3 2022 reached $16.51 trillion, $2.36 trillion higher than at the end of 2019. The New York Fed’s study also showed that the share of current debt becoming delinquent climbed for nearly all debt types, from mortgages to auto loans. But even before the pandemic and crippling inflation struck, the U.S.

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With fresh capital, Symend aims to build a better debt collection system

  • Comments Off on With fresh capital, Symend aims to build a better debt collection system

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