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Debt Recovery

Debt recovery typically refers to internal efforts at creditors to collect outstanding debt, similar to accounts receivable management. Most of the collection effort is conducted prior to a debt being charged off. Debt recovery is also used interchangeably with “debt collection” in many countries, notably India and those in Asia and Africa.

Bank Earnings Preview

Chase Debt Collections Continue to Fall

JP Morgan Chase’s annual 10-K report to the SEC reveals some critical details about the mega-bank’s debt collection practices. In 2013, JP Morgan Chase recovered $593 million of charged-off credit card debts, continuing a three-year trend of anemic debt recovery. In 2010, the country’s biggest bank recovered $1.37 billion from unpaid credit card bills it had […]

Reg E

Reg E Authorizations Got You Down? Authorization Requirements for TEL Entry Transactions/ACH

One of the hot topics for the collection industry today is the new found awareness of the requirements the Electronic Funds Transfer Act and Reg E impose on one’s ability to accept and process single and recurring Automated Clearing House Network (ACH) payments or Telephone-Initiated Entries (TEL Entries).

So what exactly is the problem? This latest blog from Ontario System’s Rozanne Andersen walks you through it.

Golden Egg

Homepage Poll: Damages Caps on TCPA Lawsuits?

What makes TCPA suits against collection agencies the Golden Geese that they are is: they’re a per-instance ding. Alternatively, under the FDCPA, plaintiffs may recover actual damages, attorney’s fees, costs, and statutory damages up to $1,000. While the first three are either market-flexible or regularly updated, the statutory damage cap has not changed since the […]