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Collections

Welcome to the News View for "Collections".

Here, on these archive pages, you'll find all of the articles on Payments News for Collections listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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February 18, 2011

October 21, 2009

GAO Releases Report on Credit Card Debt Collection Practices

The U.S. Government Accountability Office (GAO) has released a report, "Credit Cards: Fair Debt Collection Practices Act Could Better Reflect the Evolving Debt Collection Market Place and Use of Technology".

The GAO said it was asked by Congress to examine (1) the federal and state consumer protections and enforcement responsibilities related to the credit card debt collection; (2) the process and practices involved in collecting and selling delinquent credit card debt; and (3) and issues that may exist related to some of these processes and practices.

October 05, 2009

TransUnion Adds ID Analytics Solutions

TransUnion_logo-140px.jpgTransUnion and ID Analytics have announced that TransUnion will include ID Analytics' collections, credit, and identity risk solutions in TransUnion's portfolio of service offerings. According to the two firms, "ID Analytics' scores provide TransUnion customers with unique, real-time insight into consumers' fraud risk and creditworthiness across the entire lifecycle including origination, portfolio management and collections. The two companies are jointly delivering a suite of solutions that reduce credit losses, improve collection efforts, and reduce costs associated with fraudulent transactions." READ MORE »

October 01, 2009

ID Analytics Introduces Unique Collections Scores

ID Analytics has announced the availability of new collections scores that leverage real-time consumer identity information to improve both early stage and late stage collections efforts. ID Analytics Collections Optics enables companies to increase the effectiveness of collections efforts by accurately determining the likelihood of a charge-off in the early stage, and predicting the balance percentage of late stage delinquent accounts that will likely be repaid. READ MORE »

February 05, 2009

EDC and SoundBite Webinar: Collections in Turbulent Times

Risk management and collections have become critical functions for lenders to stay afloat in today’s financial storm and set the stage for stronger performance after the current economic crisis has subsided. Edgar, Dunn & Company will present a free webinar titled: “Collections in Turbulent Times” on February 11, 2009 at 2 PM Eastern in cooperation with SoundBite Communications.

February 03, 2009

Experian, PredictiveMetrics Launch PriorityScore for Collections

Experian and PredictiveMetrics have announced the launch of PriorityScore for Collections - "a suite of collection scoring models blending Experian's credit reporting agency data with client-supplied data that produces an accurate ranking and predictive forecast of consumer repayment amounts." READ MORE »

January 08, 2009

A Deal re: Mortgage "Cramdowns"?

Elizabeth Williamson reports for the Wall St. Journal that Citigroup has agreed to a deal with top Democratic senators that would "would allow judges to set new repayment terms for millions of mortgage holders who wind up in bankruptcy court." Williamson notes that the deal represents a change in direction by the financial services industry who have historically resisted efforts to allow judges to adjust mortgage loan principal amounts for consumers in bankruptcy.

January 04, 2009

US Credit Card Issuers Willing to Deal Over Consumer Debt

In an article titled "Credit Card Companies Willing to Deal Over Debt", Eric Dash writes for the New York Times that "even as many banks cut consumers’ credit lines, raise card fees and generally pull back on lending, some lenders are trying to give customers a little wiggle room." Industry experts say there's never been a better time for consumers to try to negotiate a partial payment on their debt with their credit card issuers.

June 06, 2008

Resolving Credit Card Disputes

Business Week's cover story this week is titled "Banks vs. Consumers (Guess Who Wins)" - an article by Robert Berner and Brian Grow that takes a look into how credit card issuers in the US use arbitration to handle cardholder disputes saying it is "a system in which it is exceedingly difficult for individuals to prevail." The article focuses on the role played by National Arbitration Forum (NAF), a for-profit company based in Minneapolis.

May 16, 2008

Consumers Tap into Savings to Meet Rising Delinquent Payments

Online Resources has released the results of its second survey of U.S. households looking at how bill payment patterns are being affected by the "ongoing economic softness. The survey shows that Americans’ personal financial stability continues to decrease, as the mortgage crunch, rising energy costs and a decreasing savings rate hit more households." READ MORE »

September 24, 2007

Online Resources Web Collections for Small and Mid-Sized Creditors

Online Resources Corporation has announced the launch of a new version of its online collections solution designed for small to mid-sized lenders, billers and receivables management companies.

READ MORE »

August 20, 2007

Online Resources, Fair Isaac Partner for Web-Based Collections

Online Resources and Fair Isaac have announced a partnership to "accelerate access to industry-leading collections and payment capabilities for hundreds of collection agencies and debt buyers."

READ MORE »

July 10, 2007

Collecting Consumer Debt in America

The Payment Cards Center of the Federal Reserve Bank of Philadelphia has published "Collecting Consumer Debt in America" (PDF) by Bob Hunt, senior economist in the Research Department of the Philadelphia Fed. In the paper, "Hunt explored how creditors and their agents attempt to collect past-due consumer debt, particularly unsecured debt. Creditors have a number of remedies open to them, but their effectiveness is limited by the fact that consumers can file for bankruptcy. Even outside of bankruptcy, consumers enjoy a variety of legal protections, including some they may not be aware of."

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