The number of debt collection lawsuits filing has dramatically increased across the nation. A recent report by [Insert Hypothetical Organization Name] indicates a significant rise, surpassing levels seen in 2020. Researchers attribute this increase to a combination of factors: increasing property values and a shift towards credit card reliance. Borrowers are increasingly bypassing the legal process, leading to a substantial number of defaults. This trend presents challenges for both creditors and debtors. The industry is currently assessing the potential impact and exploring methods to address this growing issue.
Credits: NYT > Top Stories