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.
At a field hearing later today (10AM PST) in Seattle, Wash., the Consumer Financial Protection Bureau will release its final rule defining “larger market participants” in consumer debt collection. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, “The Bureau has the authority to supervise nonbank covered persons of all sizes in the residential mortgage, private [...]
A business publication featured the story of an ARM company that is has experienced significant growth, and is expecting more, by diversifying into different asset classes.
For the past two decades, the accounts receivable management industry has been dominated by firms that purchased and/or collected credit card receivables. But the financial liquidity crisis of 2008 spurred a sea change in that market.
Having an online marketing presence is crucial, and the great thing is that getting leads and bringing positive attention to your company doesn’t have to come with an expensive price tag. You are in control.
Diversified Consultants, Inc., headquartered in Jacksonville, Fla. and one of the only telecom-specific collection agencies in the United States, is having its most productive year ever. In the month of July alone Diversified Consultants, Inc. (DCI) accomplished three major milestones in its quest to become one of the nation’s top agencies.
German ARM firm GFKL Financial Services AG announced Monday that it has finalized its acquisition of SNT Inkasso & Forderungsmanagement GmbH (Potsdam) effective 28th June.
An Indian collection agency working on behalf of mobile phone giant Vodafone discovered that two of its employees had gone rogue. Rogue, as in, not adhering to company policies and pocketing money collected rather than giving it to their employees.
And yes, it happens everywhere.