Collections & Credit Risk articles from July 2004

Collections & Credit Risk archives from July 2004

No Consensus on Collections: Crystal Ball Gazing.(Cover Story)
July 1, 2004... Things seem to be looking up for the collections market. For the past several years, as the economy struggled and more jobs were lost, there was plenty of debt to work but it became increasingly hard to collect. In the second half of last...

Letters To The Editor.(Letter to the Editor)
July 1, 2004... What Upturn? To the Editor: Consumer debt is at an all-time high, unemployment and the uninsured are still problems, the stock market is terrible, gas prices are through the roof, the war in Iraq is draining us, and so on. Anyone...

Survey Results.(Brief Article)
July 1, 2004... Here's how visitors to Credit & Collections World, Collections & Credit Risk's website, voted on this month's Instant Survey: In the first five months of 2004, has the reported upturn in the economy made it easier to collect on overdue...

Preemption Battle Rages On.
July 1, 2004... The Office of the Comptroller of the Currency's controversial preemption of state anti-predatory lending laws for national banks and operating subsidiaries is under fire from both the House of Representatives and Senate. Rep. Luis...

What's New.
July 1, 2004... InterConnect Eases Credit Process Equifax Inc., Atlanta, introduces InterConnect, a component-based product suite that provides a range of functions to help businesses with the credit and lending process. Designed as an outsourced,...

Vertex Buys First Revenue.
July 1, 2004... Vertex, a UK-based business process outsourcer, bought First Revenue Assurance, a Denver debt collection agency, for undisclosed terms. The deal follows Vertex's recent establishment of Vertex Outsourcing - the company's North America customer...

The One-Stop Collections Package: As the credit bureaus reinvent themselves, at least two are bundling collections products to ease client workflow and boost performance - and, oh yes, attract more business. Is the strategy paying off?
July 1, 2004... When most people think of the big three consumer credit bureaus - Experian, Trans Union and Equifax - the first thing that comes to mind is a credit report. But in recent years, the companies have been branching into new areas and expanding...

Promising Predictions: The collections market continues to improve as employment recovers and the economy expands. It doesn't take a crystal ball to spot the positive trends. But will they last?
July 1, 2004... Despite a few lingering worries about the economy, collections agency executives at mid-year are decidedly upbeat about business. Liquidation rates are improving as the job market continues to add workers who can use paychecks to pay back...

Industry Credit Groups: Indispensable Allies: In the quest to obtain recent and reliable information about B2B customers, an industry credit group can be a powerful tool.(business to business)
July 1, 2004... About eight years ago, Steve Thomas, credit manager for Scott Electric, Greensburg, Pa., had a large order on his desk from a new customer. Reviewing the order could wait, though, because Thomas was attending a luncheon meeting of the industry...

Tips for Choosing a Credit Group.(Brief Article)
July 1, 2004... If you see the value in industry credit groups, the first step is to find a group that meets your needs. Three suggestions: * Make sure the customers that the group covers represent a significant portion of your own customers. *...

An Open Invitation to Card Fraud?: The decision by U.S. credit card issuers to not adopt EMV smart card standards is expected to make U.S. cards a target for fraudsters.
July 1, 2004... The business case for smart cards in the United States, after many years, has come full circle. And fraud prevention, not loyalty or multi-application cards, again looks to be the cornerstone for building smart card issuance in the U.S. ...

Credit Counselorsfeel The Heat: U.S. Senate investigators and state regulators put high-flying counselors under the gun as the industry recasts its future.
July 1, 2004... The travails of the credit-counseling industry worsened in March when a U.S. Senate committee heard testimony of classic boiler-room style operations at several major agencies. Within a month, two states filed separate civil suits against...

Collections Software: Back To The Basics?: Collections and recovery software is evolving to meet changing needs in the market - including the debt-buying boom - but some says it's important not to lose the human element of collecting on debts.
July 1, 2004... In the consumer collections and recovery business, it seems odd to suggest too much information, particularly about debtors, could be a problem. Feeding software systems with all available data surely is the best way to separate lost causes...

Collections & Recovery Software.(Directory)
July 1, 2004... (Partial list of related vendors) Company Accelerated Data Systems Akcelerant Software LLC AMS ARCH Development Corp. Aries Data Corp. Austin Logistics Bframe Data Systems Inc. Bloodhound ...

The B2B Credit Challenge: A level playing field, with solid information on both sides, is something to be devoutly wished for, but - in business credit transactions - not easily obtained.(business-to-business)
July 1, 2004... Asymmetric information situations are commonplace in business-to-business credit. Customers know more about whether they have enough money to pay their bills than any credit analyst. Management knows more about their company's condition than...

Commercial Indices Continue to Improve: Days Sales Outstanding.(Brief Article)
July 1, 2004... (Higher is worse, lower is better) The first quarter of 2004 saw continued improvement in key indices for commercial credit grantors responding to the Credit Research Foundation's National Summary of Domestic Trade Receivables. The...

Brand Value in Asset-Based Lending: Appraising the value of intellectual property like a brand, as opposed to a hard asset, is challenging. But it's becoming more commonplace. What's the best approach?
July 1, 2004... As the secured lending market becomes more competitive and more lenders stretch down the balance sheet, assets traditionally considered "boot collateral" are being included in asset-based formulas, or being valued more specifically. Recently it...