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In an ARM industry confidence survey for Q1 2009, we received far more responses and comments to our open-ended questions than ever before. Survey participants detailed their operational situation and strategies for handling the economic downturn.
A medical technology firm has found a way to get its products in front of healthcare providers: buy up their billers and collection agencies to leverage the existing relationships with doctors and hospitals.
European ARM firm Intrum Justitia has, as previously announced, carried out an extensive review of its operations in the UK, resulting in the conclusion that the Credit Management Services ("CMS") business would require substantial improvements and investments in order to stop the continuing losses. Based on these findings, a review of all CMS contracts has [...]
Chesapeake, Va. — CDYNE Corporation, a leading provider of data enhancement, verification, and communication Web services since 1999, announced today that it has launched a consumer debt collection arm operating under the name CKS Financial, LLC, and it will be combining the expertise of the two companies to introduce tailored XML Web services to the [...]
Risk Management Resources (RMR) and Mercantile Adjustment Bureau (MAB) have entered into a strategic partnership to broaden the collection solutions available to leading credit grantors. Through the partnership, RMR provides seamless migration of pre-chargeoff first party collection services utilizing the MAB platform. The organizations then work together to deliver top tier results in customer-concentric fashion. [...]
Washington — Foreclosure actions were initiated on 1.37 percent of first mortgages during the first quarter of 2009, according to the Mortgage Bankers Association. This was a 29 basis point increase over the fourth quarter of 2008 and a 36 basis point increase from one year ago. Both the level of foreclosures started and the [...]
Rockville, MD – The Kaulkin Ginsberg Index (KGI), the leading indicator of economic conditions affecting the accounts receivables management (ARM) industry, continued to deteriorate in March but validated the our projections of a deceleration in the trend. The updated March figure for the KGI shows the index fell 5.5 points from February to 1160.0 in [...]
They went to New York to represent the ARM industry, and prompted an interesting discussion about where collectors are in the public eye.
The student loan collector, tops on the Department of Education small business set aside for its debt collection contract, was the most-searched term on SearchReceivables.com in the past week.
New York Attorney General Andrew Cuomo said that his office is forcing the closure of two related collection firms. The action is part of a large investigation into the ARM industry with nearly 20 other collection firms already under subpoena.