Collections & Credit Risk articles from May 2009

Collections & Credit Risk archives from May 2009

Dealing With The Death Of A Customer; Like individuals, credit grantors have a hard time dealing with death. The right strategy can improve recoveries and create new customer relationships.(Colletions)
May 1, 2009... Byline: Ron Michalak While many of the largest U.S. credit grantors have developed sophisticated strategies around a customer's major life events - the birth of a child, marriage, the purchase of a home or retirement - few such companies...

Call Center Strategies For A Down Economy.(Guest Column)
May 1, 2009... Byline: Greg Ablett A weak economy means delinquencies are up and there is more potential business for collectors. But with consumers struggling financially, collectors must work harder using the best collection and contact techniques. ...

LETTERS.
May 1, 2009... I own a medium-sized consumer collection agency in South Florida, one of the worst hit areas in this economic crisis. I started my agency by focusing on local small businesses, private schools, property management companies, etc., and we also...

Consumer Complaints On The Rise Again.(News & Analysis)
May 1, 2009... Consumer complaints filed with the Federal Trade Commission regarding third-party collectors increased 11% in 2008, according to the agency's annual report on the Fair Debt Collection Practices Act. Consumers filed 78,838 complaints with the...

Bad-Debt Plan Unveiled.(News & Analysis)
May 1, 2009... The Obama administration's plan to free the nation's banks from bad home loans and mortgage-related securities has led to the creation of a new government entity to help purchase as much as $1 trillion in toxic assets. The Public-Private...

FTC Releases FDCPA Report.(News & Analysis)
May 1, 2009... The Federal Trade Commission believes the Fair Debt Collection Practices Act (FDCPA) should be updated to reflect technology changes since the Act was passed in 1977. In a report to Congress, after a more than year-long review, the FTC...

The Human Touch; For community banks, to compete with larger counterparts, technology and automation must be countered with a healthy dose of customer service.(Strategy)
May 1, 2009... Byline: Darren Waggoner Technology advancements through the years, from ATMs to 24-hour telephone options to online and mobile services, have helped many banks boost productivity and stay competitive. Community banks, smaller and often...

Recession Report: Are You Being Served? Has the underserved population become the forgotten victims of the recession, or are they just another casualty in the near disappearance of consumer lending?(Risk Management)
May 1, 2009... Byline: Bill Grabarek Faced with a heavily saturated and competitive market, conventional creditors a few years back had set their sights on the "underserved" market. The relatively untapped group of individuals had been overlooked by...

Can Debt Collectors Move In? Collectors and mortgage servicers adjust to more work as the government introduces a plan to help homeowners.(Cover Story)
May 1, 2009... Byline: Jane Adler and Darren WAggoner Lenders and mortgage servicers welcomed the rollout of the government's $75 billion housing rescue plan as a sign that a real cure for the nation's housing ills is finally coming into focus. Still...