Search results for 'nco'
$169.00Through a partnership with Business Valuation Resources LLC, we have arranged to bring you extensive collection law firm financial information from BizMiner that has not previously been available about the industry. This report contains data on more than 85 companies across four size categories with revenues ranging from under $500,000 to $5 million. Learn More
This is the comprehensive debt collection Q&A prepared for consumers and hosted by the CFPB as of August 2013.
In July, the CFPB updated its online Q&A to include consumer questions about responding to debt collectors and verifying whether or not a debt collector is legitimate. The new advice can help consumers communicate effectively with debt collection companies and fight the growing problem of debt collection scams. Look for the updates in Section 3 of this report: “My Rights, and Communicating with Debt Collectors.”
NEW: How can I verify whether or not a debt collector is legitimate? (p. 24)
NEW: I’ve been contacted by a debt collector and need help responding. How do I reply? (p.25)
We have compiled the full list in one document and organized it by topic as a convenience. Links have been maintained so you can access future updates at any time.
What should you do with this information?
- Incorporate this excellent resource into your collector training program.
- Review these responses with your compliance program in mind. Do your training, operational, and on-going audit procedures address all of the relevant matters addressed in the Q&A?
- Post some of the most relevant Q&As to your firm on your website, and/or link directly to them on the CFPB site. Offering a resource on your website that mirrors/references the CFPB itself can be a great way to show the public that you are on board with consumer protection. Perhaps even a brochure that can be mailed or emailed to your customers would be appropriate in some circumstances.
PDF Download, 59 pages
This report is fully updated to include data for all of 2012, in addition to historical data since 2008. Information is drawn from NAICS classification code 561440 and is aggregated from 2,370 collection agencies, across eight size categories with revenues ranging from under $500,000 to $50-$100 million. The report contains 8 graphs showing how key metrics differ across agencies of different size. And new for this year's report: 16 graphs showing how EBITDA and operating expense have changed in the last three years.Learn More