Daily Digest - May 5, 2025

🎂🎉 Happy Birthday to: Daniel Frisicaro of Remitter. Happy belated birthday to: Andres Serrano of Frontwave Credit Union, Erin Tonachella of CrossCheck, Rob Arena of Common Collection Agency, Scott Horowitz of PRA Group.

🥳 🙌 Congratulations to Angie Connatser, who joined Revco Solutions as Director of Client Relations, and Brian Floyd, who joined TeamHealth as Vice President of Operations for Healthcare Revenue Recovery Group.

Logo Madness!

It’s time to start voting! Click on the logo you think is better to cast your vote. You can see the entire bracket here. Thanks to Drop Cowboy for sponsoring this year’s contest!

Student Loan Collections Resume Today

• After a five-year hiatus, the Department of Education will resume involuntary collections on federal student loans today, impacting millions of borrowers already in default. As of May 5, the department will begin garnishing wages, tax refunds, and Social Security payments for borrowers who have defaulted on their loans, a significant shift after a pandemic-era pause on collections.

• More details here.

A MESSAGE FROM TCN

TODAY‘S WEBINAR

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Judge Imposes $43M Judgment Against Owner of Debt Relief Company

• A District Court judge has imposed a $43 million judgment against the owner of a defunct debt relief company in an enforcement action that was started back in 2020 by the Consumer Financial Protection Bureau.

• More details here.

N.J. Appeals Court Affirms Dismissal of Hunstein Class Actions

• A New Jersey Appeals Court on Friday issued rulings in four separate cases affirming dismissals of lower court rulings in Fair Debt Collection Practices Act class-action cases that all had the same backstory – Hunstein cases – in which the plaintiffs accused the defendants of violating the statute by using a third-party to print and mail collection letters.

• More details here.

Bankruptcy Filings Continue to Climb, Rising 13.1%

• Bankruptcy filings rose 13.1% during the 12-month period ending March 31, 2025, according to data released by the Administrative Office of the U.S. Courts. Total filings reached 529,080, up from 467,774 in the prior year.

• More details here.

WORTH NOTING: People in this industry might have something to say about this, but here is a list of the 20 toughest jobs in America ... Advice from a financial expert if you are feeling nervous about tariffs ... Gossiping may be good for you and your mental health, according to experts ... Hotspots are out and detour destinations are in for this year's vacation hotspots ... Bankrate has launched a data center, with historical access to a range of economic data points ... How AI can transform employee reviews to make them less terrible ... We missed Star Wars day yesterday, so here is a ranking of the 75 best characters from the franchise ... The 20 best TV medical dramas of all time.

Music Monday, part I

Music Monday, Part II

The Daily Digest is sponsored by TCN