Collections & Credit Risk articles from June 2005

Collections & Credit Risk archives from June 2005

The Clock is Ticking: Bankruptcy Reform and the Counselors.
June 1, 2005... The new bankruptcy law, which takes effect in October, poses challenges for a number of segments of the credit and collections industry. This month, we take a look at how credit counselors may be affected in "Reform's Impact on Credit...

Letters To The Editor.(Letter to the Editor)
June 1, 2005... Surprising Results To the Editor: Really enjoy your articles and surveys. I'm surprised over the number who voted "No" in the survey. I think that if they receive "good" credit counseling, the negative impact that bankruptcy has on...

Survey Results.(Brief Article)
June 1, 2005... Here's how visitors to Credit & Collections World, Collections & Credit Risk's website, voted on this month's Instant Survey: With bankruptcy reform likely to go into effect later this year, do you expect the changes to significantly...

Hispanic Market Offers Growth Opportunities.
June 1, 2005... The purchasing power of the booming Hispanic population is expected to grow to $926 billion by 2007, a nearly 90% increase from 2000, says the Selig Center for Economic Growth at the University of Georgia. The numbers highlight the potential...

Data Enforcement Urged.
June 1, 2005... Card associations are under pressure from the CUNA Mutual Group to enforce rules prohibiting merchants from storing customer transaction data, a move prompted by several high-profile consumer information break-ins. CUNA Mutual, a provider...

E-Payments Gain a Stronger Foothold with Consumers.
June 1, 2005... One-in-four consumers paid a bill using some type of expedited electronic payment in the past 12 months, a survey aimed at identifying why consumers are using e-payment services - and what type they prefer - reveals. Fifty percent of...

What's New.(Falcon One system)
June 1, 2005... Fair Isaac Releases Falcon One Fair Isaac Corp., a Minneapolis-based provider of analytics and decision technology, announces the availability of the Falcon One system, a new enterprise software solution for fighting both existing and...

ChoicePoint Buys Firms.
June 1, 2005... ChoicePoint, an Alpharetta, Ga. identity verification provider, bought two firms in the past month including EzGov Inc., an Atlanta-based software and services firm, and Magnify Inc., a Chicago-based fraud detection and analytics solutions...

Automating Medical Collections: It took awhile for the healthcare industry to realize the benefits of specialized software to automate their collections operations, but the concept is gradually catching on.
June 1, 2005... For those who work in the collections industry, where automation has been the buzzword for years, the idea that many healthcare operations manage their collections department without an automated collections system may be a shock. But since...

The Healthcare Collector's Changing Role: A healthcare collector today must be part sleuth, part counselor, and part nag - and be well versed in the countless rules affecting the collection of medical debt.
June 1, 2005... Today's healthcare collector has the responsibility of collecting outstanding receivables from a wide variety of third parties - including Medicare, Medicaid, and other government plans, as well as health maintenance organizations, commercial...

The Right Fit: For a creditor, creating a successful collections operation requires the skill of a jigsaw puzzle expert. All the pieces have to fit and that takes work.
June 1, 2005... Managing relationships with collections agencies and law firms is crucial to a credit grantor's successful collections operations. Gone are the days when files were simply sent to outside collectors and worked. Ever since the economy dipped...

Strengthening the Credit Sale Connection: Better coordination between the credit and sales functions can improve a company's bottom line. What's the secret to achieving a healthy balance between sales' enthusiastic attitude and credit's more cautious approach?
June 1, 2005... A customer currently rents two fork lifts from Houston-based Southline Equipment and eventually plans to buy some from the company, which also handles service and parts for the rented equipment. Rental charges run about $3,000 a month, but the...

Reform's Impact on Credit Counseling: The new bankruptcy legislation is expected to boost the demand for credit counseling services. Is the counseling industry ready?
June 1, 2005... Now that the new bankruptcy reform bill has been signed into law, the tough part will be implementing it. One of the biggest questions involves the counseling that consumers will be required to undergo before filing for bankruptcy. This...

Needs-based Counseling Gathering Steam.
June 1, 2005... Credit counselors may soon have a new model for counseling debt-laden consumers. Some already do. They are testing a needs-based approach developed by TransUnion, a Chicago-based consumer credit bureau, working with Money Management...

Buyers Bank on Canada's Debt: Five banks dominate the Canadian market but all are hesitant to sell their bad debt. American lenders operating there aren't as shy. What's the outlook for Canadian debt sales?
June 1, 2005... Canada's bad-debt market mirrors the business in the U.S., circa early 1990s. To wit: Buyers are counting on untapped sources of bad loans to make them rich. Been there. Bankers, fearing reputational damage, are skittish about selling. Done...

Buyers of Canadian Debt.(Brief Article)
June 1, 2005... Company Location Website Allied Interstate Inc. Toronto www.irmc.com Canadian Bonded Credits Limited Ottawa, Ontario n/a Cavalry Investments Phoenix ...