Patrick Lunsford
insideARM.com
Patrick is the senior editor of insideARM.com. Patrick edits the ARM insider and all content appearing on insideARM. His work has appeared in numerous industry trade publications. Since 2002, he has covered or broken nearly every major news story impacting the accounts receivable management industry for insideARM.com. Previously, he was at finance research and consulting firm Corporate Executive Board after initially working in publishing out of college. Patrick holds a Bachelor of Business Administration degree from the University of Georgia, the flagship school of his home state. He currently lives in Silver Spring, Maryland with his wife and two daughters.
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- insideARM: Debt and the Single Waif: Charles Dickens As American Debt Analog - Forbes - Mike Bevel explains it all - http://t.co/a1k4Le5I
- insideARM: Collectors Doing More for Clients Keeping Less Money: Study - greedy collectors? Nope. The economy has pinched them too http://t.co/A2bZ4dV0
Recent Posts
Asta Funding Reports Increase in Income on Decline in Revenue
Debt buyer Asta Funding, Inc. (Nasdaq: ASFI) reported Thursday financial results for its fiscal first quarter of 2012 (ended December 31, 2011) marked by a rise in net income and declines in revenue and total cash collections.
Consumer Credit Soars in December for Second Straight Month
The Federal Reserve said late Tuesday that consumer credit outstanding in the U.S. increased at a 9.3 percent annual rate in December, the second month of 9 percent+ gains.
NCO Settles Debt Collection Action with 19 States
Ohio Attorney General Mike DeWine announced today that his office lead a settlement between NCO Financial Systems and 19 states which will see NCO pay up to $1.5 million in restitution to the AG offices and consumers in the states.
In signing the settlement, NCO agreed to take certain steps to comply with existing laws, including additional training and the continued monitoring of its agents.
Collectors Doing More for Clients, Keeping Less Money: Study
The study, conducted in Fall 2011, showed that the third-party debt collection industry returned $44.6 billion to clients in 2010 and kept $10.3 billion in commissions, for an aggregate commission rate of 18.8 percent. Compare that to five years ago, though, when debt collectors were enjoying an aggregate commission rate of 23.5 percent. What accounts for this unbalanced shift? We’re hoping for your comments.
California Senate Passes Fair Debt Buyers Practices Act
California Senators approved a bill Tuesday that would place more restrictions on debt buyers operating in the state.
New CFPB Director Richard Cordray Appears on Meet the Press
Richard Cordray, newly-appointed Director of the Consumer Financial Protection Bureau, sat down with Meet the Press host David Gregory for an interview conducted last week.
Some Card Issuers See Jump in Charge-offs in December, But Not Citi
Three out of five major U.S. credit card issuers saw significant increases in December in their net charge of rates, according to SEC filings. But the average credit card charge-off rate fell compared to November, the direct result of Citibank reporting a huge drop in December.
ARM Giant iQor Names New President
iQor, one of the largest ARM and BPO providers in the world, recently named Norman Merritt as the company’s president. Merritt, who began the job in early January, replaces Vikas Kapoor.
insideARM recently spoke to Merritt about his new role and the direction the company will be taking in the near future.
State AG Sues Medical Collection Agency Over Privacy Issues
Minnesota Attorney General Lori Swanson announced Thursday that her office has filed a lawsuit against a debt collection agency that alleges the firm failed to protect the confidentiality of patient health care records.
In addition to the patient privacy complaints, Swanson levied some extraordinary allegations about the company’s business practices and its relationship with healthcare provider clients.
Consumers Can File TCPA Suits Against Collectors in Federal Court: Supreme Court
The U.S. Supreme Court set aside two lower court decisions and ruled that consumers should be allowed to bring Telephone Consumer Protection Act (TCPA) claims in Federal Court. The case before the Court involved a debt collection agency. According to the ruling, private TCPA cases can be brought in both state and federal court now.