Most Big Debt Collectors Backed Off During the Pandemic. One Pressed Ahead.

Most Big Debt Collectors Backed Off During the Pandemic. One Pressed Ahead. - WSJ

Little-known Sherman Financial. which buys defaulted credit-card debt. filed more collection lawsuits after lockdowns began than in the year-earlier period. In doing so. it cemented its reputation as a nonconformist in the industry.

When Covid-19 hit the economy. most debt collectors gave borrowers a break. cutting back on lawsuits amid lockdowns. closed courts and loan-forbearance initiatives. One of the biggest and least-known companies in the industry did the opposite. Sherman Financial Group filed more lawsuits to squeeze cash from people behind on their credit-card bills.

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