Credit card chargeoff rates at U.S. issuers have plummeted in the past 12 months. But it should be noted that the current charge-off rates are still above historical averages. So how low can credit card charge-off rates go?
Last week, the Federal Reserve announced a new stimulus program dubbed Operation Twist to boost a faltering economy. The plan calls for recasting its $2.65 trillion securities portfolio to reduce long-term interest rates.
American Profit Recovery, a collection agency with offices in Massachusetts, Michigan and North Carolina, has announced that Jeff DiMatteo, an owner and partner has been elected to the ACA International Education Foundation Board.
Intrum Justitia acquires the Danish credit management operations Difko Inkasso A/S. The acquired operations run both a credit management operation and act as an investor in purchased debt. The company employs around 20 people and is expected to generate revenues of approximately 21 MDKK ($3.8 million) for 2011
Another nail-biter is in the making for the private student loan collection agencies on the U.S. Department of Education’s private student loan collection performance competition.
The number of lawsuits filed against ARM companies claiming violations of the FDCPA and other consumer statutes jumped in the first half of September after declining though August.
Consumer activists and attorneys hold a special place in their litigious hearts for credit card debt buyers and collectors, especially when the paper is older.
SIMM Associates, a national accounts receivable management firm, has reported reduced operational costs as a result of deploying a debt collection solution from Latitude Software, an Interactive Intelligence Group Inc. company.
“Operation Twist” is designed to spur loan growth — something banks have struggled to regain in the aftermath of the recession.
The U.S. District Court of Minnesota recently ruled that a debt collection law firm did not violate the Fair Credit Reporting Act (FCRA) when it obtained and used contact information from a debtor’s credit report that contained information on the identically-named plaintiff.