Collection News

Executive Change: Collections Heavy Weight Joins Impact Data's Board of Directors

2009-11-20T08:50:57-07:00

Scottsdale, Arizona, Impact Data, a geo-economic modeling company, has appointed a distinguished leader to its board of directors, effective immediately. The new board appointee, John D. Rousseau, has a lengthy background in all areas of risk management. He has accumulated many professional achievements and industry recognitions throughout his esteemed career. ''John Rousseau is truly a pioneer in the field of collections and will bring a wealth of experience and value to the board,'' said Dave McLurg, Chairman and Chief Executive Officer at Impact Data.

Mr. Rousseau received an industry lifetime achievment award in 2005 and was recognized as one of the Top 50 Most Influential People in the collections industry by Collection Advisor Magazine in 2009. Mr. Rousseau is known as a visionary leader in the debt collections and risk management arenas. With his innovative approach, he started the debt buying / debt selling market in 1987 during his tenure at Bank of America. Since then, he has bought, sold or managed over $12 billion in debt purchases. ''I have yet to meet, dispite my numerous industry contacts, John's equal in his areas of expertise,'' said Brian J. O'Hare, former Executive Vice President at Bank of America.

From 2004 to 2007 Mr. Rousseau was Executive Vice President at West Asset Management, one of the nation's top ranked accounts receivable companies. He worked for American Express as a Director from 1996 to 2001 where he was responsible for internal and external collections in 34 foreign markets. He consulted for Goldman Sachs managing a successful $22 billion dollar portfolio purchase. ''John Rousseau is known as one of the most catalytic and innovative thinkers in the credit card risk management and collection agency industries,'' said Tom Oliver, Senior Manager Operations, Hyundai Motor Finance Company. He is constantly sought after by industry leaders for his advice and insights.

Mr. Rousseau currently provides risk management consulting services for CEOs and executives. He resides in Phoenix, Arizona.

About Impact Data
Impact Data is a leading provider of geo-economic analytic solutions that increase the profitability of customer interactions. It assists industry leaders in identifying the most profitable customers, thus enhancing targeting efforts to optimize strategies and touch points throughout the customer life cycle, from early customer management through to the extending, managing and recovery of debt.

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Reliance Field Services Completes SAS 70 Certification

2009-11-20T08:50:56-07:00

Reliance Field Services' management has completed the requirements for SAS 70 Certification. Reliance Field Services is a national full-service certified Minority Business Enterprise that supports loss mitigation efforts through Field Calls, Vehicle Condition Reports, Insurance Loss Reports, Property Inspections & Preservations, Appraisals/BPO’s, REO disposition and customized services designed to meet our client's specific portfolio requirements. Since 1995, Reliance Field Services has been committed to providing timely and accurate information to our clients.

Agents can be assigned to visit business address or residence. Assigning field calls will assist internal collection specialists with re-establishing communication, when letters and messages haven't been responded too.

Our contractors will secure, re-key, install coded lock boxes, board-ups, winterization, debris & hazardous waste removal, lawn & pool maintenance, janitorial, handyman repairs, and provide any required specialized services. Implementing a dual vendor strategy will ensure that your organization will receive the best service and your organization’s assets will be protected. We have perfected the processes required to ensure that your properties are returned to the market quickly.

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RMI Consulting LLC is admitted into the IACC

2009-11-19T07:32:29-07:00

RMI Consulting LLC, (RMI) is pleased to announce they we are now a certified member of the International Association of Commercial Collectors (IACC), the world’s largest commercial collection trade association which is comprised of more than 240 collection specialists and 160 commercial attorneys.

To be eligible for membership within the IACC the applicant must meet a rigorous set of membership standards. The agency must be well established with experienced owners and principals. Applicants are also required to carry at least a $10,000 statutory or blanket client bond and must maintain a separate client trust account for all monies collected on behalf of their clients.

“Our IACC certification further demonstrates our commitment to the marketplace that RMI’s values and ethics are uncompromising. Moreover the IACC certification confirms we are committed to operating our business and servicing our clients at a very high level” says Marc E. Davenport, President of RMI.

RMI Consulting LLC is a nationally recognized accounts receivables management firm with offices in Houston, TX and Philadelphia, PA. We offer the timely liquidation of your aged commercial receivables in order to obtain immediate financial results for your organization. Our primary focus is to improve the financial, organizational and operational performance of the small, mid-sized and large organizations we represent through-out the United States.

We believe reducing the frequency and severity of your past due receivables and write-offs is as important as finding new customers.

For more information about RMI please visit us at http://www.rmiconsults.com, call Marc Davenport toll-free at (866) 406-2157, or send an e-mail to info@rmiconsults.com

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Bureau of Collection Recovery Completes SAS 70 Type II Audit

2009-11-19T07:32:29-07:00

EDEN PRAIRIE, Minn.-- Bureau of Collection Recovery LLC announced that it has successfully completed a SAS 70 Type II Audit, a stringent auditing standard for service organizations.

SAS 70 Type II was developed by the American Institute of Certified Public Accountants (AICPA) for service providers who wish to prove a high level of control effectiveness to independent auditors, and has become one of the most widely recognized auditing standards for service companies. The Type II audit is more in depth than a standard Type I audit in that the report not only states what the control objectives are but reports on the detailed testing of the service organization's controls over a defined period.

"Completing the SAS 70 II audit demonstrates our ongoing commitment to our customers," said CEO Marty Sarim, "Our clients entrust us every day with their most important asset, their customer. The SAS 70 report successfully demonstrated that we have well designed control objectives and that the company has processes and procedures in place to execute on those objectives. BCR has always been a leader in the receivables area and is proud to offer a solution that that is unmatched in the industry."

The report covered a 6 month period ending in November of 2009. The report looked at 4 major control areas, consisting of 26 control objectives that were tested and verified. The 4 main control areas were; General Computer, Environmental Security, Organization Administration and Business Process.

About Bureau of Collection Recovery, LLC (BCR)
Bureau of Collection Recovery, LLC incorporated in 1986. BCR is a leader in the Accounts Receivable Management Industry (ARM); specializing in Telecom, Bank Card, Retail Credit Card, Early Out and post Charge Off. BCR is located in Eden Prairie, Minnesota with branch offices in Willmar, Minnesota and Delhi, India; with combined capacity of 775 seats. BCR deploys best of breed technology, UniversalSystems, and experienced leadership to ensure superior service and results. Visit us on the web at www.bureauofcollection.com

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Executive Change: ACA International Names Rozanne M. Andersen CEO

2009-11-19T07:32:28-07:00

MINNEAPOLIS – ACA International, the credit, debt collection and asset purchasing industry’s largest trade association, announced today that effective immediately, Rozanne M. Andersen will take over as its Chief Executive Officer.

“Our industry is currently facing the most important and potentially dramatic legislative and regulatory changes since the Fair Debt Collection Practices Act (FDCPA) was enacted in 1977,” said Jay E. Gonsalves, ACA International’s Immediate Past President and longest-standing member of the association’s Executive Committee. “Rozanne Andersen’s experience, connections, expertise and leadership in the legislative and government affairs arena is second to none. And we need her, right now, leading the charge on these critical issues like never before.”

Andersen replaces Gary Rippentrop, who has served as the association’s CEO since 1996.

“Gary had been planning for some time to retire in the summer of 2010,” Gonsalves said. “And the ACA International Executive Committee had already selected Rozanne Andersen as his replacement. We felt that because of the critical timing behind some key legislative and regulatory issues currently facing our industry, we needed to move forward with this transition immediately.”

For almost 15 years, Andersen has vigorously represented the best interests of ACA International and the industry, Gonsalves said.

“As ACA International’s Executive Vice President and General Counsel, Rozanne has developed invaluable relationships with key legislators, regulators, and policy makers,” Gonsalves said. “In addition to her 25 years of experience as an attorney and her designation as a Certified Association Executive (CAE), she has earned numerous awards and accolades for her legal work and leadership on the topics that are of critical importance to our industry. Rozanne has also earned the respect and confidence of countless individual ACA members, industry leaders, members of the media and others. We couldn’t have a better, more well respected advocate on our side.”

Andersen said she is honored to be chosen CEO and stands ready to continue her work on behalf of the membership of ACA International.

“I am truly grateful for this opportunity, ready for the challenges that lay ahead and committed to representing the best interests of our membership in all that I do and say,” she said. “I have had the joy of spending the past 15 years of my professional career at this association, and I look forward to many more serving alongside some of the best and brightest members of our industry.”

Gonsalves said Rippentrop has agreed to remain on as a Special Executive Consultant through the end of July 2010, providing the same valuable insight and vision he has supplied for nearly 15 years while ensuring a smooth transition in leadership.

“We can say without hesitation that ACA International would not be in its current position as the leading trade association for the credit and collection industry without the tireless efforts and leadership of Gary,” Gonsalves said. “Since being named ACA’s CEO in July 1996, Gary played a critical role in improving and enhancing the financial position and reputation of ACA International. Without his leadership and talents, especially in the fiscal arena, this association would not have become the thriving entity that it is today, with more than 5,000 members in more than 65 countries throughout the world. We are indebted to Gary for his efforts, and thankful he is willing to stay on as a valued resource as we accelerate this transition process. He has been a tireless advocate for our industry and a great personal friend to many of us.”

About ACA International
ACA International, the Association of Credit and Collection Professionals, is the comprehensive, knowledge–based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,500 members worldwide, including third–party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. The association establishes ethical standards, produces a wide variety of products, services and publications, and articulates the value of the credit and collection industry to businesses, policymakers and consumers.

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State AG Sues 17 Internet Payday Lenders and Collection Agencies

2009-11-18T07:48:02-07:00

West Virginia Attorney General Darrell McGraw’s Consumer Protection Division today filed two new suits as part of his continuing effort to halt the victimization of West Virginia consumers by Internet payday lenders and their collection agencies.

One of the suits names a series of interconnected corporations and individuals who jointly operated at least four websites making usurious payday loans to West Virginia consumers using the trade name "FFD Resources." McGraw’s suit alleges that the FFD Resources companies have refused to comply with his investigative subpoenas and have continued to collect their unlawful loans in violation of a court order entered in 2007.

The FFD Resources Defendants include FFD Ventures, LP; DFD Ventures, LP; First Fidelity, Inc.; FFD Resources I, d/b/a Cash Supply; FFD Resources II, LLC, d/b/a Web Payday; FFD Resources III, LLC, d/b/a Payday Services; FFD Resources IV, LLC, d/b/a Payday Yes; FFD Resources IV, LLC, d/b/a Paper Check Payday; Great American Credit Management; Richard Clay; Jeanne Wint; Jaynes Hughes; and Ken Collom.

The second suit filed by McGraw’s office asks the court to order four collection agencies, Capital Collections, LLC, Claims Investigators of America, Crime Monitoring Center, and Premier Recovery Group, to comply with his investigative subpoenas and to stop collecting Internet payday loans in West Virginia.

Attorney General McGraw stated, "It is now more important than ever to stop modern day loan sharks from preying on West Virginia consumers who may be tempted by difficult financial circumstances to apply for payday loans on the Internet. While these companies offer quick and easy money, most consumers end up paying ten times the amount borrowed without ever paying off the loan."

The filing of these suits marks the latest actions taken by McGraw’s office as part of his continuing investigation of the Internet payday lending industry, which began in 2005. Since that time, McGraw’s office has made 97 settlement agreements with Internet payday lenders and their collection agencies, resulting in approximately $1.9 million in refunds and cancelled debts combined for 6,887 West Virginia consumers.

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Collection Training Institute, LLC powered by CSS Impact

2009-11-18T07:46:18-07:00

Collection Training Institute, LLC once again has set the bar in the collection industry by being the first group based in the U.S. to start offering the sale of collection training school franchises in the India and Philippine call center communities.

Recent research has found that people in the call center communities would rather buy a business than a call center process these days if you make it affordable and keep things simple. This lead founders Michael Kolodin and Marty Halpern to create a business that would attract large call centers as well as the small business entrepaneur. The franchise package contains in depth comprehensive collection training manuals that cover A to Z collections, collections 101, FDCPA and FCRA as well as Continual ongoing educational updates, protected territories, 24 hour support along with a two week in person training session from expert collection call center trainer Michael Kolodin. This training will focus on knowledge, role playing and compliance. CTI will also be providing job placement services for graduating students if needed.

CTI’s now operating as Collection Training Institute LLC in the U.S. and has also been listed in India as an official India corporation under Collections Training Institute Pvt. Ltd. and has opened an office in Noida, India since April 2008. CTI already has existing call centers doing third party collections in India and their India office will be where most of the franchise training will take place.

Many centers will want to open their own collection training school to turn out a continual flow of certified, educated, compliant third party collectors for US collections. The certification will help the centers attract additional clientele says managing partner Michael Kolodin who also says that many centers will reduce their overhead and replace their already existing trainer or training team with a CTI collection training school franchise because it’s affordable and will save them money.

India partner Sandeep Bhatnagar will head the marketing team that will be contact most of the 250,000 call centers located in India and the Philippines to get the word out and coordinate the overseas sales. After three to six months, many of the prospective owners will look to add CTI’s third party collection call center end to end solution. This entails all of the CTI’s strategic vendor partners who provide the best practices and best in class vendor firms in the industry.

Carl Brigante and Mark Beach of CSS Impact are the backbone of our network and provide the best software I have ever worked on in my 30 years in the industry,

Nancy McLaughlin and Kevin Haire of e Bureau showed me ways to handle and manage my data that very quickly translated into increased revenue,

Jim Worman and Scott McCollum of Billing Tree makes taking payments easy and simple,

Stephanie Kaster and Tanya Leo of PSC Info Group have shown me the best letter vendor customer service and support I’ve ever experienced,

Darrin Bird and Robert Myers of Global Connect have really done a great job with the IVR message blasts. We’ve had excellent responses to our voice mail campaigns which resulted in increased revenue,

Dial Connection’s Management Team of Michael Vesper, David Sargent and Ed Fontaine are the most knowledgeable guys I know when it comes to setting up strategic predictive collection campaigns,

Steve Ruderman of Credit and Collections News has the best handle of what’s happening in the credit and collections industry and the best presentation,

Tom Milana Jr of Trak America is handling thousands of accounts and millions of dollars of face value nationwide litigation and makes it look easy,

Collection Training Institute, LLC has additional projects in motion currently that will again continue to set the bar in the India and Philippines call center communities to be released in December 2009.

For additional information on Collection Training Institute d/b/a CTI Training Institute Pvt Ltd please contact Michael Kolodin at 386-446-9077 or email to Michael.k@creditandcollections.org or please visit our website at www.creditandcollections.org.

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LEIB Solutions Partners with Jaws Youth Fund to Collect Toys for Deserving Youth During the Holiday Season

2009-11-17T07:51:35-07:00

Gibbsboro, NJ – Jaws Youth Fund (JYF) is pleased to announce that it is teaming-up with LEIB Solutions for a holiday Toy Drive. LEIB Solutions will collect items for the toy drive through employees, clients and business partners,. It will run from Thanksgiving to December 19, 2009

LEIB is collecting new, unwrapped toys or books which the Jaws Youth Fund will distribute to several Camden-area programs including: Center for Family Services, MLK Child Development Center, El Centro Child Care Center and Mi Casita Child Care.

“Everyone at the LEIB is excited about giving back to the community. This is a special time of the year, and we’re happy that we can help make a difference,” said Bryan E. Leib, Vice President of Operations, LEIB Solutions. “We are especially appreciative of Jaws Youth Fund and United Way of Camden County for their assistance in ensuring that the toys get to deserving families.”

"We are honored to partner with LEIB to help us extend our outreach, and to make a difference in the lives of deserving families during the holiday season," said Ron Jaworski, Founder Jaws Youth Fund and ESPN Analyst.

About LEIB Solutions
LEIB Solutions, www.leibsolutions.com, is a full service Accounts Receivable Management company, handling Domestic and International accounts receivables for small, mid-size and large companies. Founded in 1986, LEIB and it’s management team have been the recipients of many awards and certifications over the last 23 years. Respect. Tenacity. Results.

About Jaws Youth Fund
The United Way of Camden County Jaws Youth Fund, www.RonJaworski.com, is a partnership by United Way of Camden County and the family of Ron Jaworski, ESPN’s Monday Night Football Analyst and former NFL Eagles Great. The JAWS Youth Fund is an initiative serving at-risk youth throughout Camden County and the Delaware Valley region.

United Way and the Jaworski Family are committed to giving children a better life by creating opportunities for them to be successful. Through special events fundraising, the United Way JAWS Youth Fund has delivered over $2.5 million to over 70 non-profit organizations providing services to children ages 7-18. These programs must provide clear goals and demonstrated outcomes.

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CollectCorp Will Make ED Collectors Available for Other PCAs

2009-11-17T07:51:34-07:00

Phoenix, Arizona: CollectCorp, a United States Department of Education (ED) vendor, has announced it will make its staff of ED collectors and managers available to work for other ED Private Collection Agencies (PCAs) as a subcontracting partner. This strategic decision comes as a result of CollectCorp’s unique position on the ED contract. As the only large business not retained as a result of ED’s 2008 procurement, the firm has more than 100 highly-trained ED collectors and managers in multiple call centers, coast to coast, who are available to help other PCAs, both large and small (“Non-Restricted” and “Small Business Set-Aide” in ED-speak), meet the rigorous demands of ED’s capacity requirements and anticipated portfolio growth in the years ahead.

The firm simultaneously announced it has exclusively retained Net Gain Marketing, Inc. (www.netgain4results.com), to tap into opportunities arising from this announcement, and that NGM will hold two conference calls next week in which interested parties will have the opportunity to receive more information and ask questions. The first conference call, to be held on Tuesday, November 24th, at 1:30 PM EST, would be open to authorized representatives of any ED PCAs. The second call, later that day at 3:30 PM EST, would be open to any other interested parties, to include those wanting to enter the Federal contracting arena, media members, consultants, and M&A advisors representing sellers. The purpose of this call would be to provide information to those parties and answer questions also. (Parties interested in participating in either or both calls are encouraged to contact Nick Bernardo at 877-533-1680, x701, to receive the dial-in number in lieu of contacting CollectCorp).

Some ED PCAs have voiced strong interest in using CollectCorp as a subcontractor. Although use of CollectCorp as a sub does not count toward any large PCA’s small business subcontracting goals because CollectCorp itself is a large company, the potential practical advantages are hard to ignore, mainly due to continued and expected growth in ED’s portfolio the ongoing challenge collection agencies have finding and retaining good people. In 2004, according to ED presentation materials made available to interested parties at the start of its 2008 procurement, ED had 2.45 million accounts in default, compared to 2.56 million at the start of the 2008 procurement. Over the same period, total dollars outstanding grew from $16.8 billion to $23.8 billion and ED’s average balance grew from $6,800 to $9,300. And these growth numbers do not factor in any growth that may result from Student Aid and Fiscal Responsibility Act of 2009, should that legislation become law.

Among other opportunities that may arise, CollectCorp envisions signing “indefinite delivery, indefinite quantity” contracts with several ED PCAs, similar to the contract all ED PCAs sign with the U.S. General Services Administration (GSA). In this kind of contract, the parties define and agree to a series of standard terms and conditions, even if the buyers (in this case, other ED PCAs) do not have an immediate need for help. That way, when a need does arise, only a limited number of items need to be negotiated and set by the parties, expediting start up.

Nicholas Wilson, who is Chairman and Chief Executive Officer with CollectCorp, commented, “We look forward to making our people and facilities available to other ED PCAs who know the importance of having the ability to rapidly expand capacity to meet the needs of ED’s portfolio, and we look forward to entertaining other options also.”

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Atradius Collection Signs a Partnership Agreement With China's FinancePro

2009-11-17T07:51:34-07:00

AMSTERDAM -- Atradius Collections, a worldwide leader in business-to-business debt collection services, has entered into a partnership agreement with FinancePro. The pioneer and market leader in commercial receivable management services in China, FinancePro selected Atradius Collections to provide international debt collections services to its entire customer base.

According to the partnership agreement, FinancePro will use Atradius Collections international service to pursue the collection of unpaid invoices of Chinese exporters to their foreign customers. This development builds on Atradius' position as the expert in international debt collections. More than 75 percent of Chinese exporters write off unpaid international invoices due to language barriers and widely varying collection procedures worldwide. Atradius Collections through its sophisticated worldwide network and strong local presence is uniquely positioned to help Chinese exporters reduce bad debts.

Raymond van der Loos, Atradius Collections Managing Director said: "FinancePro and Atradius are an excellent strategic fit. Our partner's intimate knowledge, coverage and experience of the local business and collections landscape in China coupled with Atradius Collections' strong international expertise, provide an unparalleled offering to the Chinese business community."

"With China being the second largest exporting nation in the world, collecting international trade debt in diverse business cultural setting poses a substantial challenge," commented Brook Zhang, founder of FinancePro. "The partnership with Atradius Collections will enhance our product portfolio and value proposition to our customer base."

According to different online sources, overseas debts to Chinese companies have long exceeded $100 billion, and the amount is increasing by about $15 billion per year. Atradius Collections, capitalising on its vast international network and expertise, is uniquely positioned to help Chinese companies improve their cash flow.

About Atradius Collections:
Atradius Collections, a business unit of Atradius Group, provides efficient, quick and flexible solution to recover domestic and international trade debts. With over 400 staff in 18 offices and an extensive network of collections specialists, lawyers and insolvency practitioners worldwide, Atradius Collections serve over 12,000 customers handling on average 100,000 cases a year. Over 80 years of global credit management industry experience uniquely position Atradius Collections as a worldwide leader in business-to-business debt collections. http://www.atradiuscollections.com

About FinancePro:
FinancePro is a leading supplier of receivable solutions in China, established in 1998 as a division of SINOTRUST. (SINOTRUST is a pioneer and market leader of credit solutions in China since 1992.) FinancePro, with over 160 staff and a Nationwide network of over 200 collection lawyers in China, provides Commercial Debt Solutions, Consumer Debt Solutions, and Non-Performing Debt Solutions and helps companies in banking, insurance, telecom, trading, manufacturing and service sectors to better manage their receivables, reduce bad debt losses and promote cash flow.

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Former Debt Buyer Sentenced to Six Years in Prison for Fraud

2009-11-17T07:51:34-07:00

A man who ran a debt buying company in Florida was sentenced Thursday to six years in federal prison for crimes connected with the sale of debt portfolios he did not own.

Steven Goldberg, of Goldberg & Associates in Boca Raton, was sentenced by U.S. District Judge Kenneth A. Marra to 71 months in federal prison, to be followed by three years of supervised release. In August, Goldberg pled guilty to eight counts of wire fraud and one count of mail fraud.

Goldberg sold debt portfolios he did not own, according to authorities. He would provide falsified evaluation files and sale files as well as falsified evidence that he owned the files. Goldberg would also send buyers “bogus wire transaction numbers and other bogus financial information,” according to a statement from the court.

Debt buyers lost more than $3.3 million due to his fraud. An investigation showed that Goldberg had defrauded many well-respected accounts receivable management companies over the past few years.

The investigation involved the U.S. Secret Service, the U.S. Postal Inspection Service and the Boca Raton Police Department. A Dallas debt buyer, NorAm Capital Holdings, Inc., initially alerted authorities to Goldberg’s tactics.

Dan Cofall, Co-Chairman of NorAm, told insideARM that two years ago, Goldberg sold his company a portfolio that Goldberg did not have a title to. The fraud was discovered after NorAm paid for the portfolio.

Goldberg refused to refund the money to NorAm. At that time, the company decided to conclude the purchase with the actual owner of the portfolio. NorAm also chose to aggressively pursue Goldberg, both civilly and criminally.



"We immediately contacted the proper authorities to get the ball rolling." said Cofall. "Our team included a former Secret Service agent and we were able to work directly with both the Boca Raton White Collar Crime Unit and the Secret Service. We were fortunate to work with the right law enforcement agencies that took this case very seriously.”

“It happened very quickly,” said Cofall. “We went from theft to sentence in less than two years.”

Although the federal criminal charges against Goldberg have been satisfied, there are still numerous civil cases pending against him. Cofall said that his firm is vigorously pursuing their claims against Goldberg, his company and other parties associated with these transactions. "There are others involved. We know who they are and we are relentless." said Cofall.

Cofall said that this is the type of case that should wake up the debt buying industry. The investigation uncovered many other debt buyers that had been defrauded by Goldberg, Cofall said he was surprised that they did not pursue Goldberg as aggressively as NorAM.

“There was only one other company represented at the sentencing hearing and our appearance made the difference between a short sentence and a much longer federal vacation,” he noted.

“Our industry does not do a good job of policing itself,” he said. “Our trade organizations should be significantly more vigilant when they screen both new and existing members for criminal backgrounds. Goldberg had prior convictions, including felonies.”

Cofall said that there are many things the industry can do to better protect itself from rogue elements, like publishing a list of any litigation that one member files against another member of the debt buying community and requiring background checks, including criminal, for people applying for new association membership as well as for renewals. Each member should complete a background questionnaire and that questionnaire should be vetted.

“Why are known, convicted felons allowed to be members in good standing in our industry?" asked Cofall.

Had Goldberg’s victims been aware of pending civil litigation against him by other debt purchasers, many of the losses could have been avoided, according to Cofall.