For those of you who read the Wall Street Journal yesterday, you may have seen an article about how the debt purchasing industry has been booming and causing an increase in legal cases, which is clogging up our court systems. As I read this article, which I thought was well written despite the typical industry bashing, I wished the journalists had sat in on my presentation at the ACA Fall Forum a few weeks ago. If they had, they would have realized that debt purchasing activity actually DECLINED from 2007 to 2009, and has remained relatively FLAT from 2009 to 2010.
Renton, Wash. – ER Solutions, Inc., a Convergent Company, announced today they have met the requirements for becoming ISO/IEC 27001 compliant. For this initiative ERS retained the services of Frazier & Deeter, LLC, Atlanta, GA. F&D conducted a risk assessment in accordance with the guidelines established for improving information security management in an organization, as [...]
Associated Credit Services, Inc., located in Hopkinton, Massachusetts, celebrates its 40 Year anniversary with the appointment of Kim Massey to the position of EVP, Business Development and Katie Thibodeau to the position of Director of Client Services. Kim Massey is a seasoned A/R professional who brings 20+ years of experience as an executive in the [...]
Duluth, GA – BFrame Data Systems Inc., a key solution provider in the collection and recovery software marketplace, announced the selection of Eric Bentz as the company’s new president effective November 1. Eric Bentz brings more than a decade of experience to the position ranging from customer service to development and system maintenance. More recently [...]
The items below are excerpted from the Business Bankruptcy News Bulletin. A full issue contains information on dozens of troubled companies, as well as informational and analysis highlights and an examination of business bankruptcy matters. More information on subscribing to the Bulletin at http://usbj.biz/. Basic Functions of the U.S. Trustee’s Office The office of the [...]
The average charge-off rate for credit card accounts fell nearly 20 percent in the third quarter of 2010 as delinquencies also improved, according to data released last week by the Federal Reserve.
The Fed’s data release showed an average credit card charge-off rate of 8.39 percent at all U.S. banks in the third quarter, down sharply from the 10.37 percent rate reported for the second quarter. It is the lowest average charge-off rate for credit cards since the first quarter of 2009.
For the second consecutive year, Professional Placement Services, LLC has been selected for the 2010 Best of Milwaukee Award in the Collection Agencies category by the U.S. Commerce Association (USCA).
Aktiv Kapital has today signed a contract with an international financial institution acquiring a non- and semi-performing portfolio in Spain with a face value in excess of €350 million. The portfolio consists of approx. 70,000 accounts. The purchase represents the single largest investment in Aktiv Kapital since 2008. “The purchase confirms our strategy of maintaining [...]
Swiss Post, via its subsidiary PostFinance, has established a company that will offer Swiss enterprises a new product that includes accounts receivables management, Prefinancing and payment guarantee. The product, “Factoring Plus” is new to the Swiss market and is available from the beginning of 2011. Intrum Justitia is partnering with PostFinance and will be providing [...]
Hamburg, Germany and Kiev, Ukraine – From December 2010 on, the EOS Group (www.eos-solutions.com), an Otto Group company, enters the Ukrainian market. The new local company TOV EOS Ukraine offers debt collection and debt purchase to clients in Ukraine. Christos Savvides, Member of the Board of Directors of the EOS Group with responsibility for Eastern [...]