The American Bar Association Wednesday issued a formal opinion finding that a growing practice by district attorneys of allowing debt collection agencies to issue demand letters that suggest they originated from the prosecutor’s office violates ABA Model Rules of Professional Conduct.
Student Lending revenues declined 35.3% during the third quarter to $28.1 million, from $43.4 million in the prior year period.
Expert Global Solutions (EGS), parent company of ARM giant NCO Group, announced Monday the closing of a deal that saw it sell Transworld Systems and many other debt collection units to a private equity firm. The transaction was initially announced in July.
BFrame today announced its partnership with QTS to supply a processing environment for government entities. QTS’ Federal Cloud is designed to meet FedRAMP and FISMA requirements.
Revenue Discovery Systems (RDS), a division of PRA Group’s government services (Nasdaq:PRAA) has announced that Jeremy Katz joined the company as vice president of state government solutions after 20 years at Xerox.
The National Consumer Law Center (NCLC) late Tuesday published a report that calls for the Department of Education to stop using private collection agencies to help recover delinquent student loans. But the report is misleading and inflammatory, going far beyond more reasoned studies from government agencies urging reform within the ED collection contract.
The U.S. Department of Education (ED), which hires Private Collection Agencies (PCAs), incentivizes those PCAs to subcontract to small businesses, and remains the largest Federal buyer of collection agency services, received an “A” grade for FY2013, with room for improvement in a few areas.
The third-party debt collection industry returned some $45 billion to creditors and other clients in 2013, according to a study released today by ACA International. The report, based on a survey and other statistical analysis by Ernst & Young, is the latest in a series of comprehensive industry studies.
The Louisiana Department of Revenue issued a Request for Proposals Thursday for debt collectors to work for the state’s new Office of Debt Recovery on an as-needed basis. ODR would be part of the Department of Revenue, and would be responsible for the collection of delinquent debts on behalf of state agencies.
MyGovWatch.com has made available for download a copy of the Fiscal Year 2013 Report to Congress on U.S. Government Receivables and Debt Collection Activities of Federal Agencies. This report is published annually by the Department of the Treasury.