Email notifications to collection agencies from the Consumer Financial Protection Bureau remain a hit-or-miss function of the debt collection complain portal. One the one hand: a recent fix ensured subscribers would receive emails only in the event of a new complaint or new activity on an existing complaint. Before, daily emails from the CFPB arrived […]
The study compared private collections and IRS collections during four consecutive six-month intervals. Taxpayer Advocate Service found that while private collectors collected more tax dollars in the first six-month period than the IRS, over time IRS collections were more consistent. Private collection agencies had six months of success, before drastically decreasing the dollar amount and percentage of available taxpayer dollars collected.
Today’s blog post is from a good friend of mine, Patrick Carroll, who details the benefits of an owner using a professional intermediary to represent them in the sale of your business instead of going at it alone with a trusted attorney. I think he covers all of the valuable points that an experienced intermediary will bring into the sale equation.
LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it has partnered with Joe Adams of The Hampton Pryor Group to host a CFPB compliance webinar for contact center executives. Attendees will have a chance to catch up on the latest developments and get answers to their specific questions […]
Ontario Systems, a leading receivables management technology and services provider, announced the promotion of Casey Stanley to Vice President of Marketing. Stanley rejoined Ontario Systems as Senior Director of Marketing almost three years ago, and has been responsible for developing and executing the company’s strategic marketing, communications, and lead generation strategies. “Casey has done an […]
The Social Security Administration announced Monday that it will immediately stop efforts to collect on taxpayers’ debts to the government that are more than 10 years old. This means the SSA will no longer seize state and federal refunds from people who had relatives who owed money to the agency. While the SSA will no longer seize federal and/or state refunds to pay for government debts past the federal statute of limitations, this does not have any impact on other time-barred debts on a state-by-state basis.
Let’s check in with a guy and his thoughtful mustache posing for his senior photo on the state of today’s economy! “The deleveraging of America is over.” Yay! “Or mostly over.” Oh? “And that’s good news and possibly bad.” ::frustrated sigh:: Robert J. Samuelson, a syndicated columnist, is trying to run through our Economic State […]
As scammers get more and more sophisticated in how they steal money from unwitting consumers, a consequence for the collection industry may be a significant increase in the number of validation requests submitted by consumers.
A federal judge this week decided to allow a potential class action lawsuit against a debt collection agency to move forward that claims violations of the FDCPA due to the presentation and positioning of validation notice language on a collection letter.
A common myth in collections is that debt collection agencies and creditors can’t comply with the TCPA’s often puzzling language for autodialed calls while simultaneously maximizing right-party contacts to grow collections rates.