KENNER, La. – The Altus Global Trade Solutions (Altus) Senior Management team, in partnership with NewSpring Capital, Evergreen Industries, and Spring Capital Partners, announces the purchase of Altus from French parent company Natixis. Corporate Advisory Solutions served as advisor to Altus. BakerHostetler served as counsel to Natixis. Blank Rome served as counsel to NewSpring Capital, Evergreen […]
KENNER, La. – Altus Global Trade Solutions (Altus GTS) announced that Wexford and James, the highly respected Iowa-based recovery solutions firm, recently joined as an Altus GTS Affiliate member. This partnership solidifies Wexford and James’ position as a major player in the global accounts receivables market and forges a powerful relationship between two companies that share […]
In the fourth quarter of 2015, commercial (business to business) accounts placed with Commercial Collection Agencies of America (CCAA) agency members increased a substantial 32.4% over third quarter 2015, according to the CCAA’s fourth quarter and year-end report. The dollar amount of accounts placed rose by over 6.5%. The average-sized account placed for collection in 2015 ranged from just above $2,400 to slightly above $3,100.
KENNER, La. - Altus Global Trade Solutions (Altus GTS) announced that Commercial Collections of America (CCA) recently joined as the newest Affiliate member, offering CCA the opportunity to become a major player in the global accounts receivables management market. The Affiliate program, which launched in 2015 and has quickly expanded to four members, provides an opportunity […]
Buffalo, NY – ABC-Amega, a global commercial receivables management firm, is excited to announce that President and COO, Paul F. Catalano, was appointed by the Credit Research Foundation Board of Trustees as the service provider representative on the Board for a three-year term. The unanimous vote took place at CRF’s October 2015 Board meeting in Ft. Lauderdale, […]
A recent Illinois bill provides a welcome fix to the Illinois Collection Agency Act (ICAA). The legislation, SB 1369, corrects amendments made to the ICAA this past August. Those amendments potentially expanded sections of the ICAA to commercial debt and would require disclosures contrary to (and possibly in violation of) the federal Fair Debt Collection Practices Act. The […]
Minnesota Commerce Commissioner Mike Rothman announced yesterday that a Texas-based debt collection company is facing a $500,000 penalty and a consent order that requires the company to change its ways, including rewriting its collection manual and retraining its employees. The financial penalty is the largest ever imposed on a debt collection agency by the Minnesota […]
The Commercial Law League of America (CLLA) is pleased to announce that Robert S. Bernstein, of Bernstein-Burkley, P.C., in Pittsburgh, PA, will serve as its 2015-2016 Board of Governors president. This makes Bernstein the only two-term president other than the group’s founder, William Sprague, in 1896. Since joining the CLLA in 1975, Bernstein has held […]
The ARM industry is used to bad news and negative media attention. But this week, there were a couple articles run in prominent media that cast the industry in a positive light. The first was a nice local profile of a collection agency and the second featured a defense of private collectors on the Department of Education’s student loan collection contract.
What qualities do effective commercial collectors have in common…is it personality, skills, education or something else? The International Association of Commercial Collectors (IACC) asked this question in its Pulse of the Profession Survey, which was conducted during the first quarter of 2015.