Linda Straub Jones is a Director of Market Planning for Compliance at LexisNexis Risk Solutions. Her specialties include Bankrutpcy and Deceased data. In her role as Director of Market Planninig, she reviews industry rules, regulations, laws and compliance matters, and determines solutions that LexisNexis may provide to assist customers.
With the increased attention the credit and collections industry has been receiving lately, it’s more important than ever to not only know the status of your consumers, but to also have a plan on how to handle accounts as they move into different statuses.
We’ve all seen the headlines lately with the statistics of lawsuits rising against collection agencies, of penalties handed down by the CFPB and the courts, of settlements against collection agencies and even speculation that the business of debt collection is going the way of the dinosaur. But is the business of collections really going away, or is it just going through another change?
If you haven’t started your Compliance Management Program, including Service Provider/Vendor audits by now, you should make it part of your 2014 goal.
Are you wondering what people (mostly consumers) are telling the CFPB about debt collection in response to its ANPR? Here is a breakdown of the first 1,000 public comments.
For many accounts receivable management firms, dormant judgments represent an opportunity to capitalize on existing investments and realize unrecovered revenue.
Last year, LexisNexis launched Banko Events Montoring, a solution that automates the process of monitoring bankruptcy events and helps collections organizations improve efficiency, reduce cost and identify new sources of revenue.