As the ARM industry prepares for 2014, it might help in strategic planning to know which types of debt are attracting the most consumer complaints about debt collection.
The percentage of American consumers with at least one account in the third party debt collection system fell sharply in the third quarter of 2013, according to data released Thursday by the Federal Reserve Bank of New York. But the average balance of accounts in collection increased sharply.
The Consumer Financial Protection Bureau (CFPB) today published debt collection complaints it has been collecting since July 10. The data was made publicly available in the Bureau’s Consumer Complaint Database.
Stellar Recovery, Inc. announced its membership in the Telecommunications Risk Management Association (TRMA) today. TRMA, founded in 1997, includes members from cable, satellite, telecom, wireless, and energy companies in the U.S. and Canada.
Major debt collection agency GC Services is adding about 40 full time jobs at its call center in central Florida, according to local paper The Ledger. The jobs will predominantly be collection positions.
Integrity Solution Services, Inc., formerly National Asset Recovery Services (NARS), has received notice that one of its clients is moving its business to internal sites, and as a result, Integrity is moving to downsize or shut down its Cape Girardeau, Mo. facility.
LiveVox Inc., the leading provider of cloud contact center solutions, today announced its membership in the Telecommunications Risk Management Association (TRMA). TRMA, founded in 1997, includes members from telecom, wireless, cable, satellite and energy companies in the US and Canada.
As if legitimate debt collection agencies don’t have enough to worry about with scam artists posing as collectors, a story out of Australia underscores the peril of trying to do things right. This time the fake collector wasn’t working on behalf of himself for quick cash, he was created by a company that should have been a client of the ARM industry.
National Enterprise Systems (NES) today announced that it has earned an A+ rating with the Better Business Bureau (BBB), the highest rating awarded by the Bureau. Upon learning of the company’s top BBB rating, Ernie Pollak, president of NES, said, “I am very excited to achieve an A+ rating. It has taken a lot of hard work and a tremendous amount of oversight in compliance and training. Investments in people and systems to support compliance with state and federal regulations are both costly and time consuming, but they are also the right business choices because they allow NES to best serve our clients and consumers.”
The U.S. Court of Appeals for the Fifth Circuit last week upheld a lower court’s dismissal of a case in which a consumer sued a debt collection agency for violations of the Fair Debt Collection Practices Act (FDCPA), Equifax for violations of the Fair Credit Reporting Act (FCRA), and BellSouth for violating Louisiana state law.