Collections & Credit Risk articles from July 2005

Collections & Credit Risk archives from July 2005

Spotlight on the ACA: Legislation Activity Front and Center.
July 1, 2005... This month's issue of Collections & Credit Risk focuses to a large extent on legislative matters. That's because there has been, and continues to be, a lot going on. When it comes to the collections industry - and to some extent the...

Letters To The Editor.(Letter to the Editor)
July 1, 2005... Slight Improvement To the Editor: So far, we haven't seen any drop in collectability. Results seem to be tracking slightly better than last year. Dan Devetski Director, Credit & Collections AGL Resources Atlanta ...

Survey Results.(Debt repayment)(Brief Article)
July 1, 2005... Here's how visitors to Credit & Collections World, Collections & Credit Risk's website, voted on this month's Instant Survey: Economic signals continue to be mixed, with signs of a slowdown accompanied by continuing concern in some...

Correction.(Correction Notice)
July 1, 2005... In the June issue, Portfolio Recovery Associates was incorrectly identified as having once purchased a Canadian-based debt portfolio from Associates Financial. PRA has never purchased a portfolio of Canadian debt. (c) 2005 Collections &...

Bank Scam Touches Collections Agencies.
July 1, 2005... An estimated 45 New Jersey collections firms are possibly involved in what is being called the largest bank scam in U.S. history, according to the U.S. Treasury Department. Hackensack, N.J. Police Department Detective Frank Lomia says the...

What's New.
July 1, 2005... Intelligent Results, Ontario Systems Partner Intelligent Results, a customer analytics' services providers in Bellevue, Wash., partners with Ontario Systems, Muncie, Ind., on a scoring project. Ontario Systems' customers can access...

WAMU Buys Providian.(Washington Mutual Inc. acquires Providian Financial Corp.)(Citigroup Inc. acquires Federated Department Stores Inc.)(First Data Corp. acquires Vigo Remittance Corp.)
July 1, 2005... Washington Mutual Inc., Seattle, has agreed to buy credit card issuer Providian Financial Corp., San Francisco, in a stock and cash deal worth $6.45 billion. Providian will become WAMU's fourth major business unit. WAMU will keep Providian's...

The ACA Goes To Washington.
July 1, 2005... The past year has seen a number of legislative and regulatory changes affecting the credit and collections industry. Rozanne Andersen, general counsel for ACA International, has been right in the thick of it. What are the key successes so...

Facts Count on Capitol Hill.(Brief Article)
July 1, 2005... Facts are a basic building block for gaining ground and influence on Capitol Hill. Here are some key facts ACA cites about the industry: Importance to the Economy * There were 5,215 collection business establishments in the U.S. in...

Reform's Impact On Consumer Lenders: The new bankruptcy law promises to make it tougher for consumers to write off their debts. But creditors - particularly unsecured ones - may see only a modest return.
July 1, 2005... When President George W. Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 into law on April 20, credit grantors might be excused for sighing with relief - or even giving a rousing cheer -- as more than eight years...

What's the Payout?
July 1, 2005... Todd J. Zywicki, a visiting professor of law at Georgetown University, testified to the Senate Judiciary Committee that the legislation indicates that creditors could recover about $3 billion of the $40 billion of debt discharged annually...

Figuring It Out.(Brief Article)
July 1, 2005... A number of resources are available to help creditors and collectors learn about the details in the new bankruptcy law. Among them: "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Law and Explanantion," a 437-page...

Objections to Claims: Legitimate Strategy or Scam?: Is the practice of objecting to claims based only on insufficient documentation a proper use of the bankruptcy process?
July 1, 2005... To share in any distributions through a Chapter 13 or 7 bankruptcy estate, a creditor must file a proof of claim. A debtor who believes a claim should not be paid can object to the claim. And many do. Indeed, objections - on purely technical...

Mid-Year Look at Collections: The collections business is steady despite mixed signals from the economy. What's the outlook for the rest of the year?
July 1, 2005... Polite applause, fingers-to-palm, is the best credit executives can muster for the collections business in mid-2005. The mantra from economists, analysts, and industry insiders alike: "measured growth." Cue the yawns. ...

Getting the Scoop on Small Business: Small businesses are the growth engine for the U.S. economy. Yet many fail. For credit grantors, it can be hard to gauge the risk an individual business poses. Now there are more tools to help.
July 1, 2005... As credit reporting agencies' customers increasingly seek to do business with smaller companies, the bureaus are working to provide more detailed and synergistic information about small businesses. And new firms are springing up to fill what...

Efficient Calling Campaigns: Knowledge, systems, and workflow - to be successful, call centers need all three.
July 1, 2005... Half a decade into the "new millennium," some call centers are still operating their predictive dialers as they were before most of their agents were born. How? By still segmenting or routing accounts, such as those greater than 60 days...

Automating the Collections Process: Collections operations want to do what it takes to help individuals settle their debts, often without the help of live agents. What tools are helping?
July 1, 2005... Thanks to a volatile mix of rising interest rates, soaring consumer debts, and growing competition, collection shops are open to new approaches - perhaps more than ever - to boost collection rates and beat the competition. Technology is...

Collections & Recovery Technology Providers (partial list).(Directory)
July 1, 2005... Company Adeptra Apollo Enterprise Solutions Austin Logistics Castel Corp. Columbia Ultimate Concerto Software Dakcs Software Systems Debt Resolve eCredit.com Inc. Experian Fair Isaac Global...

Optimizing Receivables: Utilizing best practices in credit management improves debt recovery and reduces collections problems.
July 1, 2005... For every business serious about maintaining optimum cash flow, it's imperative to implement effective practices for securing monies owed and curtailing potential bad debt. The past several years have seen some troublesome statistics with...