Collection Recon

Alliance Collection Agencies employees participate in fundraiser

Posted on 30. Jul, 2010 by Collections Recon.

Employees of Alliance Collection Agencies recently participated in the Stevens Point Area YMCA Lactic Edge Triathlon on July 10 at Bukolt Park in Stevens Point.

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Asta Funding to Report Third Quarter and Nine Months Results of Fiscal Year 2010

Posted on 30. Jul, 2010 by Collections Recon.

Asta Funding, Inc. (Nasdaq: ASFI), a consumer receivable asset management and liquidation firm, will report its financial results for the third quarter and nine months of fiscal year 2010 ended June 30, 2010 before the market opens on Wednesday, August 4, 2010.

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FDCPA and Other Consumer Rights Lawsuit Statistics, July 1-15, 2010

Posted on 30. Jul, 2010 by Collections Recon.

There were about 409 lawsuits filed under consumer statutes in the first half of July.

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J.P. Morgan Strengthens Global Trade Practice with Strategic Hires and Enhanced Organizational Structure

Posted on 29. Jul, 2010 by Collections Recon.

J.P. Morgan Treasury Services today announced that it is strengthening the organizational structure of its Global Trade practice to better address the industry’s increasing demand for market-leading trade finance and supply chain management solutions. Under the leadership of Global Trade Executive Daniel Cotti, J.P. Morgan is expanding the bank’s award-winning Global Trade organization, hiring several new senior managers for key positions and adding nearly 100 trade and supply chain professionals to the firm’s international team.

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Bank of America Announces New $100 Million Small Business Lending Program

Posted on 29. Jul, 2010 by Collections Recon.

WASHINGTON–Bank of America today announced it will provide $10 million in grants to nonprofit lenders, such as Community Development Financial Institutions (CDFIs), to leverage funds from the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA) for lending to small and rural businesses. The grants, for use as loan loss reserves, may unlock as much as $100 million in low-cost, long-term capital for small business microloans nationwide over the next 12 months.

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75 Percent of Top Metro Areas Post Increasing Foreclosure Activity in First Half of 2010

Posted on 29. Jul, 2010 by Collections Recon.

IRVINE, Calif. – RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Midyear 2010 Metropolitan Foreclosure Market Report, which shows 154 of the 206 U.S. metropolitan areas with a population of 200,000 or more posted year-over-year increases in foreclosure activity even while foreclosure activity decreased in nine of the 10 metros with the highest foreclosure rates.

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The Affiliated Group Plans To Add Jobs

Posted on 29. Jul, 2010 by Collections Recon.

The Affiliated Group, a Rochester, Minn.-based collection agency, is adding up to 60 new jobs to help prepare for the launch of a new, large contract in September.

Affiliated President Mark Neeb says his firm needs to have many new employees ready to go about four weeks before starting the contract with a large municipal government. The company plans to hire 30 for this by the end of September. The client city did not give Affiliated permission to release its name.

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Utah sees dramatic rise in bankruptcy filings

Posted on 29. Jul, 2010 by Collections Recon.

SALT LAKE CITY — Chalk it up as one more thing you can blame on the recession. Bankruptcy filings are way up in Utah.

The U.S. Bankruptcy Court for Utah reports 8,942 people declared bankruptcy in the first six months of 2010, a 31-percent increase over the same six months in 2009. By comparison, national bankruptcy filings only rose about 14 percent in the same time frame.

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FTC issues rule prohibiting upfront fees

Posted on 29. Jul, 2010 by Collections Recon.

The Federal Trade Commission issued a final rule Thursday that prohibits for-profit debt servicing companies to collect up-front fees, costing consumers millions every year.

The rule, which will take effect Oct. 27, affects companies that selldebt relief services over the telephone may no longer charge a fee before they settle or reduce a customer’s debt.

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TFG CARD SOLUTIONS AND NEWTEK BUSINESS SERVICES

Posted on 28. Jul, 2010 by Collections Recon.

PORTLAND OREGON– July 28, 2010 – TFG Card Solutions has announced a new partnership with Newtek Business
Services, Inc. (NASDAQ:NEWT), to provide a variety of business and financial products and services to its client base.

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