Collections & Credit Risk articles from December 2007

Collections & Credit Risk archives from December 2007

'Tis the Season.
December 1, 2007... Each year, as the holidays near, I'm filled with a mix of excitement and dread. The dread begins when I hear that first grating novelty song - likely either "Grandma Got Run Over By a Reindeer," or "Jingle Bells," by the Singing Dogs....

Debt Buyers Credit Adequate Supply With Helping Keep Pricing in Check.
December 1, 2007... Publicly held buyers and collectors of consumer debt enjoyed a solid third quarter of acquisitions thanks to an abundant supply that is helping hold prices at rational levels. Portfolio Recovery Associates Inc., based in Norfolk, Va., spent...

Recent Deals.
December 1, 2007... Columbia Ultimate, a Roswell, Ga.-based collections software developer, is partnering with Automated Collection Control to help debt buyers, law firms and collection agencies send collection files. The Outsource Group, a health care-focused...

Forecasting from Phoenix.
December 1, 2007... Today's consumer debt levels are sustainable, assuming the economy keeps growing; disclosing flaws in portfolios will help boost prices; data security requirements soon will fall on agencies and buyers; and a lawyer urges the accounts...

Industry Briefs.(Brief article)
December 1, 2007... U.S. Bancorp, Minneapolis, named P.W. (Bill) Parker as chief credit officer. Parker most recently served as executive vice president and chief portfolio risk management officer. Pacific Southwest Credit Association, San Diego, developed an...

A New Look at an Old Law: The Fair Debt Collection Practices Act is an aging law desperately in need of a fix, collection industry and consumer groups agree.
December 1, 2007... The Fair Debt Collection Practices Act, the key law regulating the collection industry, is stuck in the disco era. "Star Wars" arrived in theaters the year Congress gave birth to the law - the original "Star Wars!" While sweeping changes...

Problems and Possible Solutions.
December 1, 2007... Technology changes since 1977 including e-mail, voice mail, text messages and cell phones have resulted in roadblocks under the FDCPA. It is as simple as trying to reach someone. Collectors want to contact debtors or be told when the contact is...

A Higher Level of Analytics: A new generation of analytics is transforming the way collection managers devise treatment strategies, while delivering higher yields and improving operating efficiencies.
December 1, 2007... Without question, analytics are a must when crafting a collection strategy. But it barely scratches the surface to use the technology simply to score a debtor's default risk or to determine if the account will self-cure, should be worked...

The Philanthropists: The collection and debt buying industries often get a bad rap but many companies are unsung heroes in their communities and beyond.
December 1, 2007... From supplying troops in combat zones to donating turkeys, from helping children at school and in shelters to participating in walk-a-thons for myriad diseases, agencies, debt buyers and their employees are passionately involved in community...

For ACA, Financial Literacy is the Cause.
December 1, 2007... The trade group for the ARM industry, ACA International, directs its outreach programs through the ACA International Foundation. "We focus on financial literacy needs. Our members are more aware than anybody that this need exists," says...

Medical Collections Moves In-House: Software vendors are modifying their medical collection applications to meet changing needs of hospitals and agencies.
December 1, 2007... With annual health care spending in the U.S. passing $2 trillion in 2005 and projected to exceed $4 trillion in 2015, according to the National Coalition on HealthCare (NCHC), it's no wonder more Americans than ever are carrying medical debt....

The Year That Was: A mix of new and old challenges and opportunities kept the collection industry guessing in 2007.
December 1, 2007... It wasn't exactly the best of times for the collection industry; nor was it the worst. Really, we only know one thing for certain about 2007: it's just about over. News touching the industry included old stories - the ongoing threat of...

More Key 2007 Stories.
December 1, 2007... College cost reduction Act of 2007, signed by President Bush in September, will drop interest rates on federally subsidized loans starting in July 2008. While the Act helps students and graduates, early speculation is that some lenders may...

A Great Place to Work: Bay Area Credit Service is on a list of Colorado's best large companies for employees. Why did the company make the list?
December 1, 2007... Employees at Bay Area Credit Service compete for what just might be the dream of the American working class stiff: to throw pies at their co-workers and their bosses. Paul Konkel, chief executive for the Englewood, Colo.-based accounts...