Collections & Credit Risk articles from November 2005

Collections & Credit Risk archives from November 2005

Challenges Ahead: Of Hurricanes, Bankruptcies and More.
November 1, 2005... Despite their feminine names, the devastating hurricanes that slammed into the Gulf Coast in late August and September, were anything but ladylike. Reverberations from their visits will be felt for months or years to come. The immediate...

ChoicePoint Finds More Data Fraud.
November 1, 2005... Consumer data broker ChoicePoint Inc. uncovered more breaches in security after several unauthorized individuals tapped into private consumer records. The problem follows the company's announcement in February that a criminal ring had accessed...

What's New.
November 1, 2005... Fiserv and Akcelerant Partner Fiserv's Information Technology Inc. unit and Akcelerant Software join to provide U.S. financial institutions with the ability to streamline collections and recoveries. By integrating Akcelerant's...

Events Calendar.(Calendar)
November 1, 2005... Nov. 10-13 85th New York Meeting The Commercial Law League of America NEW YORK www.clla.org/events Nov. 13-16 NASP 2005 Conference National Association of Subrogation Professionals AUSTIN, TEXAS...

NCO Group Buys Firm.
November 1, 2005... NCO Group Inc. acquired an unnamed company specializing in buying accounts in the healthcare and utility sectors. The purchase price was approximately $84 million. * CyberSource Corp., Mountain View, Calif., a provider of electronic...

Assessing the Damage: With the Gulf Coast wrecked by Hurricanes Katrina and Rita, lenders are scrambling to understand how the natural disasters will affect their customers, their strategies and their own bottom line.
November 1, 2005... The one-two punch delivered by Hurricanes Katrina and Rita turned the Gulf Coast into a Third World. Hundreds of thousands of people, nearly everyone in New Orleans, spent at least a month unemployed. Many are facing much worse. No...

Credit Insurers Brace for Worst.
November 1, 2005... Credit insurers watched two horrific hurricanes hit the Gulf of Mexico this year from the same vantage point that much of the country did: with empathy for the human tragedy, and initial uncertainty about exactly how it would impact them in the...

Double Jeopardy: Hurricane victims, who lost homes, belongings and jobs, may find themselves facing bankruptcy as debts pile up. Tougher rules under the new bankruptcy law make starting over with a clean slate harder to do. Is relief in sight?
November 1, 2005... Most of the coverage of the Hurricane Katrina disaster has focused on the plight of poor New Orleans residents and their day-to-day struggles to survive. But the hurricane's effects will linger for years, and many worry they will eventually...

Some Regulatory Relief.
November 1, 2005... With federal lawmakers unlikely to act in time to legislate relief for Gulf Coast hurricane victims filing for bankruptcy under the new bankruptcy law's tougher requirements, the United States Trustee Program on Oct. 5 announced enforcement...

The Credit Executive's New Role: As credit managers become more involved in the order-to-cash cycle, many find themselves wearing a new hat: customer consultant.
November 1, 2005... When it comes to collections, Carol Frischer has always been able to "pull rabbits out of a hat." Recently, she worked her magic again, collecting $50,000 from a recalcitrant insurance company. "I knew they wanted to settle, because when I...

Identity Theft Insurance - Is It Worthwhile?: The number of ID theft insurance policies issued is growing, as awareness and concern about these crimes mount. But not everyone agrees on the merits of such protection.
November 1, 2005... Identity theft is a huge problem, according to the Federal Trade Commission. The Federal Bureau of Investigation calls it the fastest growing white-collar crime in America, and research by the Better Business Bureau and Javelin Strategy and...

Thwarting Fraud Before It Happens: With concerns about identify theft mounting, banks and lenders are turning to identity scores to help them determine whether an individual opening an account is who he or she purports to be. How is it working?
November 1, 2005... Move over credit scores - there's a new type of score on the block: identity scores that can calculate the risk of fraud before a consumer opens an account. Vendors say their use is bound to grow because of mounting concern about identity theft...

QAs: Scoring Solutions: Leading industry product and services providers discuss attorney service strategies and best practices.(Company Profile)
November 1, 2005... Q: What are the major challenges facing consumer and commercial credit grantors regarding scoring applications? George Shand, Intelligent Results: Most are struggling with the unfulfilled promise of bureau-based risk scores, the lack of...

Commercial Indices Mixed.(Brief Article)
November 1, 2005... For commercial credit grantors responding to the Credit Research Foundation's latest National Summary of Domestic Trade Receivables, the key indicators in the second quarter of 2005 were a mixed bag. The Collections Effectiveness Index, the...

Fair Isaac's Stock Soars.
November 1, 2005... Thanks to increased interest in identity theft protection and several acquisitions that have boosted the company's product offerings, Fair Isaac's revenue has grown 18% year-over-year as of the company fiscal year third quarter ended June 30....