George Mason University Foundation Professor of Law and Senior Scholar of the Mercatus Center Todd J. Zywicki has published a Working Paper entitled “The Law and Economics of Consumer Debt Collection and Its Regulation.” The 69-page paper concludes that new government restrictions on debt collection may very well burden consumers. Zywicki starts with the premise […]
SACRAMENTO, Calif. – A new study conducted by Professor Todd Zywicki of the Mercatus Center at George Mason University indicated that careful evaluation of the current regulatory environment was necessary to ensure that the debt collection and debt buying industries continued to fulfill their critical role in the economy. The study also found as the […]
Greenwood Village, CO – United Debt Holding, LLC is proud to announce the receipt of the 2015 Best of Business award in Castle Rock, CO in the small business category. The Small Business Community Association (SBCA) has been dedicated to empowering and recognizing small business owners who continually make a difference in their business community since […]
How do you identify which accounts have a higher likelihood to pay? Every collections firm wants to get better at answering this question. TransUnion claims that firms can – with better, fresher account data. Scoring accounts with a broader data set and more historical data can help firms better separate the uncollectable accounts from those […]
The U.S. Department of Education (ED) Private Collection Agency (PCA) program remains an opportunity for small businesses despite recent wrangling over five contractor suspensions in March and a bid process for large (“unrestricted”) contractors still incomplete after two years. Goals have gone up over the last two years, with ED’s prime and subcontracting goals now at 20% and 33%, respectively.
To date, over the 57-year history of the Perkins Loan Program, more than 30 million students with need have benefited from this important source of funds. This proven and longstanding loan program is in jeopardy. In order for the Program to continue, Congress must reauthorize the program or extend the September 30, 2015 sunset date. You can help.
Yesterday Encore Capital Group (ECPG), an international specialty finance company with operations in eight countries, reported its financial results for the second quarter of 2015 ending June 30, 2015. Second Quarter Highlights Gross collections from the portfolio purchasing and recovery business grew 7% to a record $437 million, compared to $409 million in the same period […]
Encore Capital Group, Inc. (NASDAQ:ECPG) announced yesterday that it has collaborated with U.S. Reps. Scott Peters (CA-52) and Duncan Hunter (CA-50) to create a bill that would exempt up to $2,500 worth of forgiven personal and household debt from federal taxation. The bill (H.R. 2640) was recently introduced as the “Consumer Debt Forgiveness Tax Relief Act of 2015.” This re-raises the 1099-C debate for the collection industry.
Earlier this month The New York Times ran an Opinion piece by Lee Siegel, who tells his story of committing to expensive student loans for two degrees and what it did to his family. When faced with the choice of what to do, he decided to default on his loans rather than pursue a job/career in a field that was not his passion. His story is not a unique one at all.
Our society’s attitude towards consumer financial products has fundamentally changed since the mortgage meltdown. A key component of this change is a role for the federal government to actively regulate industries where it feels consumers can be easily harmed. While it may not have appeared to the ARM industry that it was being ignored by […]