Data Security and compliance play significant roles in Student Loan Collections Your clients are expecting you to conduct various audits of your processes and procedures. There’s overarching regulations like SSAE 16 and those from the CFPB. Add to those requirements from The Higher Education Act of 1964 and the Department of Education, and collecting on […]
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It’s Not Just Regulators Who Expect You To Audit for Compliance Your clients are expecting you to conduct various audits of your processes and procedures. An internal audit program is the firewall between your agency’s operations and potential non-compliant actions. But what exactly is an internal audit? And what are some best practices to consider […]
Recently there has been some confusion in the industry about authorizations for Preauthorized ACH and Debit Card payments under Regulation E and NACHA regulations. Some sources are distributing incorrect information. PaymentVision has prepared a detailed
analysis of these requirements, relying on and quoting only authoritative sources.
A well-established third-party debt buyer needed help. The company excelled at the core collections process, with strong predictive modeling identifying customers most likely to repay, but needed to be more efficient in contacting right parties – while mitigating risk to TCPA compliance.
The largest challenge to successful collection efforts today is outbound communications compliance. With many rules to follow, and requirements continually evolving, staying on top of the myriad pieces, components, and pitfalls can take an extraordinary amount of time.
Intelligent communications and customer self-serve, according to FICO, help you scale the shifting economic, regulatory and social environment. In today’s dynamic collections environment, traditional approaches are less and less effective. New techniques—like self-serve ways for customers to resolve delinquencies from their mobile phone—produce higher ROI for collections time, effort and expense. This whitepaper covers five […]
Employing an effective debt-collection strategy—with the right information solutions provider—helps increase Right-Party Contacts (RPC) and drive operational effectiveness for any company, large or small. The rise of consumer sophistication, government regulations and client work standards continues to drive the demand for effective collection processes—and strategic alliances with information solutions providers are a critical element to success. Your data vendor is an extension of your operation and picking the right one has never been more critical.
An increasing percentage of people with medical insurance are having difficulty paying medical bills. With growing debt and rising costs, healthcare providers and medical debt collectors are turning to statistical modeling to develop a more targeted and effective patient friendly collections strategy. Download this white paper to learn how statistical models can help you identify which accounts have the highest propensity to pay, helping you make the collections process more efficient and effective leading to cost reductions and increased liquidations.
If your collection agency isn’t involved in the student loan market, then you’re missing out on your share of a $1 trillion pot. The purpose of this report from Ontario Systems is to explain how the size (huge) and dynamic (complex) of the student loan market can be used as an opportunity for debt collectors […]
Conversations with consumers —- whether asking for payment or answering product questions —- are an expensive form of contact, fraught with compliance risk. When handled unsuccessfully, they can negatively impact the bottom line, as well as increase risk of fines and reputational damage for regulatory noncompliance. This paper from FICO looks at how companies can use these analytic insights to achieve profitable business goals.