Collections & Credit Risk articles from March 2008

Collections & Credit Risk archives from March 2008

Cover Story.
March 1, 2008... 28 Clean-Up Plans With the mortgage market and the related housing slump pulling down the U.S. economy, lenders and consumer groups are battling over the idea of allowing bankruptcy judges to modify loans. Features 18 Look Out,...

Back to New Orleans.(Conference notes)
March 1, 2008... This month, our 12th annual National Collections & Credit Risk Conference returns to New Orleans, a city where we have often convened but not since March 2004. The importance of going back to New Orleans is clear and Im pleased all of us will...

While Chances Appear Slim for House Bill, Critics Pick Apart 'Paulson Plan'.
March 1, 2008... Both highly leveraged homeowners and consumer rights organizations are likely to applaud legislation, introduced in the fall, which may receive a full hearing this spring. But the powerful banking lobby has triumphed with huge wins before under...

Industry News.
March 1, 2008... Student lender Sallie Mae received $31 billion in new financing from a consortium of banks led by Bank of America and JPMorgan Chase. This replaces the $30 billion in interim financing set up by BofA and Chase as part of a proposed merger...

Hospital Operators Pressured by Weakening U.S. Economy.
March 1, 2008... Many health care analysts predict the lagging U.S. economy may drive employers to further shift health costs to workers in 2008. Consumers struggling to make mortgage payments and pay high gasoline and food bills could find it particularly...

You Cannot Hide From Carl MacBride: The head of an investigation firm that skip traces for collection clients boasts success rates that many industry insiders find hard to believe.
March 1, 2008... Picture an investigator who specializes in finding people who dont want to be found. Hes off the cuff. Hes matter of fact. Hes a man of mystery. Hes Carl MacBride, president and CEO of West Palm Beach, Fla.-based International Research...

Slicing the Student Loan Pie: Small agencies compete for U.S. Department of Education collection contracts and the financial rewards and industry recognition that winning one can bring.
March 1, 2008... Winning a student loan collections contract from the Department of Education comes with considerable industry clout and thus can prove quite lucrative. In other words, it looks good on the resume. Collection agencies who handle these...

What It Takes To Compete.(Brief article)
March 1, 2008... Several qualifications must be met before collection agencies can bid on the Department of Educations student loan portfolios, including: * At least two clients that each have paid the collection agency $100,000 in the three years before...

Look Out, Here Comes PCI: Now that the card companies have received mass acceptance of the PCI data security standard among merchants, it is being pushed down the pipe to collection agencies and their technology vendors.
March 1, 2008... Like it or not, collection agencies that accept credit card payments will not receive blanket coverage for PCI compliance from the processors that handle authorization of those payments; they too will have to become PCI compliant. In the...

Clean-Up Plans: With the mortgage market and the related housing slump pulling down the U.S. economy, lenders and consumer groups are battling over the idea of allowing bankruptcy judges to modify loans.
March 1, 2008... With consumer bankruptcy filings and residential real estate foreclosures both soaring in 2007, experts consulted by CCR say despite the absence of hard-data research there is anecdotal evidence aplenty, and a logical connection, directly...

Man vs. Machine: Technology offers the ability to put human resources to better use.
March 1, 2008... With collection agencies striving to maintain cost efficiencies while increasing productivity, technology is playing a predominant role. Not only is it helping agencies settle more straightforward files with little human involvement, technology...

Building Brand Loyalty.
March 1, 2008... As the use of automated Web technologies evolves, there is potential for creditors to act as educators, which may be an effective strategy to maintain brand loyalty. I think there is going to be more of an advisory flavor to the deployment...

The Evolving Role of The Collector: With an onslaught of depressing news surrounding the U.S. economy, collectors and consumers face a difficult road ahead in 2008.
March 1, 2008... Pick up a morning newspaper or turn on the evening news these days and you cant help but notice the growing magnitude of the subprime lending crisis. Statistics released at year-end 2007 only confirm the worst fears of many experts. Last...

U.S. Home Price Trends, 2006-2007.(Brief article)
March 1, 2008... The most recent S&P/Case-Shiller Index showed 11 consecutive months of home price declines. The 10-City Composites 8.4% decline in November represented a new record low. Home price depreciation can impact collection efforts because homeowners...