Collections & Credit Risk articles from January 2009

Collections & Credit Risk archives from January 2009

New Fears in the New Year.(Editor's Letter)
January 1, 2009... Byline: Darren Waggoner, Editor Those who earn their living in the debt collection business are having trouble appreciating the historical impact that the dawn of the Barack Obama Administration presents. Mostly, and naturally so, they're...

Check the Funds.(Technology Outlook)
January 1, 2009... Collection managers use technology to contact debtors and settle balances but they should not overlook the need to verify availability of funds for check payments. First Data Corp.'s TeleCheck division offers paper and electronic check...

Rethinking Risk Strategies; There are several ways to better balance risk and profitability during an economic downturn. Here are a few.(Guest Column)
January 1, 2009... Byline: Richard Openshaw and Tommy Lee Mortgage delinquencies are at a 29-year high, according to the Mortgage Bankers Association; consumer bankruptcies are surging, reports the American Bankruptcy Institute; and credit card charge-off...

Stats.(Survey)(Brief article)
January 1, 2009... The October 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed changes in the supply of, and demand for, bank loans to businesses and households over the past three months. The survey included questions regarding...

Q: What are the biggest challenges or opportunities for the collection industry in 2009?(Letters)
January 1, 2009... While there are many opportunities for collections in this economy, I think it is more challenging since the recovery percentage has and will continue to drop significantly. Collectors often are faced with a dilemma that by calling the debtors...

Debt Prices Fall Amid Uncertain Economy.(News & Analysis)
January 1, 2009... With credit card charge-offs climbing, the amount issuers can expect to recover on their bad debt is falling. The increased supply also has lowered the prices secondary buyers are willing to pay, prompting many issuers to sell less of their...

Industry News.(News & Analysis)
January 1, 2009... CR Software LLC, a Fairfax, Va.-based software systems firm, and Regal Technologies, a Severna Park, Md.-based provider of payment processing services, developed a credit card gateway that enables collectors to accept credit cards from within...

Fighting Turnover With Technology; I.C. System turns to an automated prescreening tool to evaluate large pools of job candidates.(Technology)
January 1, 2009... Byline: Bill Grabarek Keeping up with the hiring needs of a company with some 1,300 employees is a daunting task - even for a company with a 70-year history. I.C. System, a St. Paul, Minn.-based accounts receivable management company,...

I.C. System Case Study.(Technology)(employee turnover and retention statistics)(Brief article)
January 1, 2009... The PeopleScreen application was tailored specifically to I.C. System's needs so that the prescreen content directly corresponded to behaviors and characteristics important to success in collector and transfer agent positions. One year...

Industry Outlook: Hopes and Fears; Amid falling liquidations in the faltering economy, collectors and risk managers likely will continue to tighten their operations in 2009.(Cover Story)(Industry overview)
January 1, 2009... Byline: Jane Adler The credit squeeze that first gained traction on Wall Street 18 months ago has hit Main Street with blunt force, leading to forecasts of lower liquidation rates and higher placements for collection agencies in the months...

Do Consumers Still Care in the Corporate Bailout Era? The economic credit crisis might be affecting the way individuals feel about their debts. What can collectors do to ensure maximum recoveries and Keep consumers interested in paying their bills?(Collections Outlook)
January 1, 2009... Byline: Darren Waggoner Bleak. Scared. BITTER. Angry. With that, you have John Q. Public's sentiments about the U.S. economy and the outlook for 2009. Consumers are on edge. Each day the news is worse. Mass layoffs and warnings of...

Technology Tools For Tough Times; The economy's sudden decline is prompting collection managers to change their view of technology as a way to lower operating costs to that of a tool to boost recoveries.(Technology Outlook)
January 1, 2009... Byline: Peter Lucas With economic conditions worsening at a frightening pace and more collection agencies fighting to stay in business, it is critical for agencies to reevaluate how they use technology tools to boost contacts and...