Collector

A Healthy Market?

"Health care providers have a very different mission than other consumer credit originators," said Phil Roberts, president of Senex Services Corp. in Indianapolis. "The main mission for community and faith-based health care providers is to deliver health benefits to the communities and patients they serve." "The majority of the medical debt sold is by acute care hospitals," Roberts said. "Large physician groups and specialty practices also look to sell th enreceivables as a complement to then...

A New Member Benefit

In an effort to help ACA International members cut through the noise and understand what's really going on with the economy, I am pleased to announce a new member benefit Each quarter, noted economist Dr. [Ken Mayland] will provide an analysis of economic trends and offer his perspective. He will explain what all of the key data means in terms that are simple to understand. For the "number junkies" he will also includes a few charts and his forecast for key economic indicators. USA Today reco...

A Tall Order

The purpose of the Governance Task Force is to review and evaluate the current governance structure of ACA International, including the ACA Board of Directors and Executive Committee; members and membership; divisions and units; the rights and responsibilities of units and ACA; the relationship between ACA and its state units and between the state units and ACA; the dues structure; alternative governance structures and other such matters. If interested in reviewing the full task force scope o...

Aca Calendar

16: Using Social Mediato Recover Accounts, 11 a.m. - 12:30 p.m. CST; Instructors: Canh Tran and Todd Langusch; Contact: [Heather Norton], +1(952) 928-8000, ext. 137; http://www.acainternational.org/events 19: How to Maximize Call Recording, 11 a.m. - 12:30 p.m. CST; Instructors: Steve Bressler, Todd Langusch and John McNamara; Contact: Heather Norton, +1(952) 928-8000, ext. 137; http://www.acainternational.org/events 21-22: Foundational Training on Professional Practices Management System (PP...

Aca Invites You to Continue Your Membership in 2011

It's easy to renew online by visiting http://www.acainternational.org/ myaca.aspx (select Member Dues). For company-based members (agencies, asset buyers and affiliates), only your designated ACA "main" or "preferred billing" contacts have access to this option. To renew by mail, return payment with the renewal statement mailed to you.

Ceo Confidence Declined in Q3

CEOs' appraisal of current economic conditions was much less favorable in the third quarter. Less than one-third said conditions have improved compared to six months ago, down from about two-thirds last quarter. In assessing their own industries, business leaders' appraisal was also considerably less positive. Now, only 38 percent say conditions are better, compared with 61 percent last quarter.

Cfpb Begins Taking Shape

This action is consistent with the financial regulatory reform bill, which required the treasury secretary to set a specific date for the transfer of powers to the CFPB after consulting with the heads of the seven "transfer agencies," the Board of Governors (and any federal reserve bank, as the context requires), the Federal Deposit Insurance Corporation, the Federal Trade Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Office of Thrift...

Cultivating the Back Office

"You need someone who pays attention to the correspondence and is going to be trained to review the details in the correspondence," [David Fenske, Esq] said. "A lack of attention will lead to liability." "The consumer might say something like, 'I work third shift and sleep until noon, so please don't call me in the morning,'" [Wendy Badger, Esq] said. "It's important to read those complaints because if they're handled appropriately, they could turn into money." "When your staff are more effic...

Documentation Dilemmas

"The question then becomes what is valid media and documentation," [Dennis Malen] said. "VaHd documentation may require one set of rules in regards to credit card debt, and another set of rules with other types of debt." "Documentation is a problem regulators feel needs to be addressed, and consumers agree," [Dan Buell] said. "As collectors, we'd love to have better documentation. It would only increase recoveries." "In order to satisfy everyone from the original creditor to the intervening p...

Double-Dip Recession Is Considered Unlikely

Although the U.S. economy is still vulnerable, a "double-dip" recession is unlikely with slow-to-moderate growth continuing this year and gradually accelerating in 2011, according to a U.S. economic forecast released by George Mokrzan, senior economist for Huntington Bank.

Employee Confidence Remains Stable

* Workers earning $75,000 or greater were the most confident in the future of their current employer, with 70 percent reporting confidence. On the contrary, workers earning $35,000 or less were the least confident in the future of their current employer (50 percent). "Despite continued economic uncertainty, there is some good news to report," said Roy Krause, president and CEO of SFN Group Inc. "Although many employers are riding the current economic situation out, we are seeing broad project...

Fastfax

Amendments to the FDCPA (3pp) Revised 1 1/15/06 2051 Disputes: Duties of Debt Collectors under the FDCPA and FCRA (5pp) Revised 3/26/09 3014 GLBA Notices and the FDCPA: Possible FDCPA Violations (3pp) Revised 12/14/09 3027

Flashback: 1946/47

1946/47 ACA President Warren Clarke was concerned that ACA had been spending too much time and effort resolving internal conflicts and not enough on the public side of things. Clarke's caretaker instinct when it came to ACA gave him the unofficial title of "the father of ACA." He was determined to see ACA through a successful year under his leadership. Another more pressing job Clarke tackled was ACAs $3,000 deficit He asked ACAs first vice president, Robert Sesline, to formulate a plan to pu...

Headwinds and the Recovery

Dr.

Loomer-Mortenson Scholarship Fund: Reenergizing an Aca Legacy

With the scholarship fund recently depleted, several ACA members made contributions in memory of the scholarship's namesakes. Bob Loomer and Irvin "Dempsey" Mortenson. Loomer was a popular ACA instructor who provided great leadership to the faculty. Mortenson was ACAs director of public affairs during the hard fight to modify the language in the bill that became the Fair Debt Collection Practices Act in a manner that preserved the collection industry. Both men died from cancer.

Payment in Full?

An accord and satisfaction is a contractual method for discharging a debt, generally for less than the full amount owed. The "accord" is the agreement between the parties to accept an amount different than what is actually owed on an obligation, and the "satisfaction" is the payment of the new amount. A successful accord and satisfaction relieves the consumer of her legal obligation to pay the rest of the debt and serves as a defense for the consumer against legal action on the debt. The burd...

Recent Campus Aca Certificate Recipients

Utah-Dale Andrus, Mercy Calata, Alexandria Christopher, Jewell Deutsch, KeIMe Roberts, Taryn Straw, Kaysie Vincent, Lyndee Wright Hong Kong-Wu Ka Yee Wynes, Ruby Lai Ping Lee, Lai Nok Man, Li Yik Lin

Rising Above the Hurdles

"Start in your own backyard," said Carol Freeland, principal/owner of ACTS+ in Hot Springs Village, Ark. "Consider networking with companies within a 90-mile radius of your back door. Personal contact, especially with a personal introduction through a shared professional acquaintance, is best." "You can't do the same things to every portfolio," [Robert Schofield] said. "Do your homework, pay the right price, have a game plan before you purchase and execute that plan." "Debt buyers need to wor...

September 2010 Member Feedback

If you use a series of form letters how many letters are in your series?

Small Business Bankruptcies Fall in Many Metro Areas

In a comprehensive study on bankruptcy trends among the nation's more than 24 million small businesses, Equifax uncovered surprising results within key metro areas. While California and several Western regions reported a deceleration in small business bankruptcies, the rate of decrease in these areas and others has been moderate enough to signal continued, underlying weaknesses in today's business markets.