During the pandemic, most states instituted special directives limiting collection activities. For example, the US Federal Government suspended student loan repayments and collection efforts on defaulted loans. Private sector businesses also suspended or reduced debt collection activities. While this helps the more than 40 million consumers who are experiencing lost wages and other financial hardships, collection activities will eventually have to resume.
Download your free Executive Brief
Take the next step
Connect with FICO for answers to all your product and solution questions. We look forward to hearing from you.