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Inside ARM Article Worth Reading

Collection Agency Layoffs Reach Highest Level of Downturn in Q2 August 17, 2009 Collection agencies and debt buyers reported layoffs at a record pace in the second quarter, according to the results from insideARM's latest Credit & Debt Collection Industry Confidence Survey. But collection performance is improving from late last year. by Patrick Lunsford insideARM [...]

By | 2016-11-28T05:29:42+00:00 August 17th, 2009|Inside ARM|Comments Off on Inside ARM Article Worth Reading

Red Flag 101

For those of you that might not be knowledgeable about "Red Flag", the Red Flag rules are our government's latest response to the identity theft crisis. According to the rules, any company that extends credit in any fashion, must comply by implementing a complete program by August 1, 2009. What does this mean for the [...]

By | 2016-11-28T05:29:43+00:00 May 4th, 2009|Red Flag 101|Comments Off on Red Flag 101

FTC EXTENDS RED FLAG DEADLINE TO AUGUST 1, 2009

The following was released by the FTC on Thursday, 04-30-09. You can view the entire document on at www.ftc.gov. We will continue to keep you posted. KEN For Release: 04/30/2009 FTC Will Grant Three-Month Delay of Enforcement of ‘Red Flags’ Rule Requiring Creditors and Financial Institutions to Adopt Identity Theft Prevention Programs The Federal Trade [...]

By | 2016-11-28T05:29:45+00:00 May 4th, 2009|Red Flag 101|Comments Off on FTC EXTENDS RED FLAG DEADLINE TO AUGUST 1, 2009

Consumer Delinquencies Continued Rising in Fourth Quarter of 2008

From ACA Newslink: Consumer Delinquencies Continued Rising in Fourth Quarter of 2008 The American Collector's Association (ACA) is our trade association. News continues to point to lower recovery percentages for businesses across the nation and the Southeast. It is important that we, as your agency, help you to capture every dollar as credit tightens even [...]

By | 2016-11-28T05:29:46+00:00 April 21st, 2009|Consumer Delinquinces|Comments Off on Consumer Delinquencies Continued Rising in Fourth Quarter of 2008

Economic News Affecting Collections

According to the U.S. Bureau of Labor Statistics: Non-farm payroll employment continued to decline sharply in March (-663,000), and the unemployment rate rose from 8.1 to 8.5 percent. Payroll employment has decreased by 3.3 million over the past 5 months. In March, job losses were large and widespread across the major industry sectors. (Source: http://www.bls.gov/ces/) [...]

By | 2016-11-28T05:29:46+00:00 April 20th, 2009|Economic News Affecting Collections|Comments Off on Economic News Affecting Collections