Collections & Credit Risk articles from August 2003

Collections & Credit Risk archives from August 2003

New Provisions Likely: FCRA Preemption Extension Is Key.(Fair Credit Reporting Act)
August 1, 2003... The most crucial legislative issue affecting the credit and collections industry this year is an extension of federal preemption provisions in the Fair Credit Reporting Act -- before the current extension runs out on Dec. 31. Without an...

Letters to the Editor.(Letter to the Editor)
August 1, 2003... Offshore Questions To the Editor: I read with interest your article on Offshore Collections (in the July issue). Five years ago, I sold Nationwide Debt Recovery (NDR) to Compass International. I had found that the two biggest pains of...

Survey Results.(Brief Article)
August 1, 2003... Here's how visitors to Credit & Collections World, Collections & Credit Risk's website, voted on this month's Instant Survey: In this economic climate, is your company reducing the allocation of time and money spent on ongoing training...

Disclaimer.(Letter to the Editor)
August 1, 2003... July's Letters to the Editor included a letter entitled "Warning Sign," attributed to Helen McCasson of General Bar Inc. Although that was the name on the survey comment we received, the sender provided no phone or e-mail address. Ms. McCasson...

Correction.(Correction Notice)
August 1, 2003... In July's Special Report, Executive Alliance's website should be www.executivealliancesearch.com. Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.creditcollectionsworld.com

FCRA Debate Heats Up.(Fair Credit Reporting Act revisions being considered by US Senate and House)
August 1, 2003... Lawmakers in the House and Senate are debating whether to renew an expiring section of the Fair Credit Reporting Act that blocks states from interfering with the national system of reporting and granting credit. House representatives hope...

What's New?(meshed briefs)
August 1, 2003... MicroBilt Online Collections Debuts MicroBilt Corp., a Kennesaw, Ga.-based provider of credit bureau reporting, releases Online Collection Service at www.creditcommander.com. The site now offers both credit and collections services. "The...

Dolan Media Finds Buyer.(meshed briefs)
August 1, 2003... Reed Elsevier, parent of LexisNexis, will buy Dolan Media Company - a public records information firm. Terms were not disclosed. Dolan had revenues of about $44 million in the 12 months ending in March. Dolan's public records business includes...

Tech Tolls Unplugged: A new wave of software applications is helping creditors and collectors work more efficiently and produce better results.(Industry Overview)
August 1, 2003... A new generation of software applications is helping risk managers and collectors do everything from fight fraud to pinpoint debtor payment patterns to cope with tough new rules governing power dialing - big steps for the collections business,...

Power Dialing's New Look.
August 1, 2003... Fed up with receiving calls and hearing nobody on the other end, angry consumers are pressuring legislators to regulate how companies use power dialers. Leading the charge is California, which enacted a law limiting companies using power...

Credit & Accounts Receivable Open Forum & Credit Scoring Expo.(meeting agenda)
August 1, 2003... AGENDA Wednesday, August 13, 2003 9:00 a.m. - 10:30 a.m. CRF Board of Trustees meeting Business meeting 10:30 a.m. - noon General Membership Meeting and Election of Officers and Trustees for 2003-2004 Noon ...

Collecting in Tough Times: When collecting on trade receivables gets tough, high-touch service and customized reporting get commercial agencies and their clients through hard times.
August 1, 2003... Mark Steele faces a full plate every day. As credit manager for Laird Plastics Inc., a distributor based in West Palm Beach, Fla., he's in charge of monitoring the creditworthiness of his firm's 20,000 customers and overseeing an internal...

Debt Resale Market Matures: As debt buyers become more comfortable with resold portfolio offerings, they're making reselling part of their overall business plan.(Industry Overview)
August 1, 2003... The best gauge of the distressed-debt sales market's health might be the condition of the offshoot resale business - plugging along now for years as an incidental by-product and now a basic strategy for most debt buyers. As the resale market...

Utility Debt: A Tough Resale.
August 1, 2003... For Joel Lewis, a buyer of utility debt, the possibility of reselling that debt down the road isn't part of the equation. In fact, the contracts he signs usually stipulate that the accounts will never be resold. "Our major concern is that...

Fraud Wears Many Masks: Check out these recommendations to help businesses prevent fraud and keep reconciliation costs low if victimized.
August 1, 2003... The rising number of modern fraud crimes is not pulp fiction, but a real life drama playing worldwide as sophisticated criminals make life miserable for both consumers and businesses. Financial fraud's many faces are not always easy to...

E-Billing and E-Payment Gather Steam: But are there twist and turns in the roadbed ahead?
August 1, 2003... Although he is in the business, James Fugitte knows all too well the shortcomings of making electronic payments. The president and chief executive of Elizabethtown, Ky.-based Fort Knox National Company, an e-payment solutions provider, makes...

Credit Insurers Vendors (Partial List).
August 1, 2003... Company Aci Worldwide Affirmative Technologies Inc. Auto Scribe Corp. BillMatrix Corp. Callipay CyberCash Inc. E-Commerce Group e-complish, LLC Electronic Banking Systems E-Tran Fort Knox National...

Banks Outsource Collections Activities.(Brief Article)
August 1, 2003... A greater percentage of collections activities are outsourced for consumer loans than for credit cards, according to a recent banking study. Participants in the Consumer Bankers Association's 2003 Consumer Credit Collections Survey report...