Collection Recon

Debt Collection Bills Advance in Western States

Posted on 20. May, 2013 by Collections Recon.

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Two bills in major Western U.S. states aimed at reining in debt collection practices have recently advanced in their respective legislative chambers. One targets debt buyers specifically while the other is designed to more tightly control debt collectors working for government clients.

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CFPB Launches Spanish Language Web Site

Posted on 20. May, 2013 by Collections Recon.

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The Consumer Financial Protection Bureau (CFPB) this week announced the launch of a site designed to provide Spanish-speaking Americans with “clear, unbiased information about financial products and services.”

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Gen X and Late Baby Boomers Face Bleak Retirements (US News)

Posted on 20. May, 2013 by Collections Recon.

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Share With Friends: | | Business – Debts And Loans News, RSS and RSS Feed via Feedzilla.

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UK ARM Giant Cabot Sold in Private Equity Deal

Posted on 17. May, 2013 by Collections Recon.

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AnaCap Financial Partners LLP, a specialist European financial services private equity firm, announced Wednesday the sale of Cabot Credit Management (CCM) to funds managed and advised by J.C. Flowers & Co. LLC. The transaction agreements have been signed, and the transaction is expected to complete imminently.

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Executive Change: NGM Broadens Focus with Director of Technology Hire

Posted on 17. May, 2013 by Collections Recon.

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Net Gain Marketing, Inc. (NGM) has announced it has hired Derik Gadson to fulfill the role of the company’s Director of Technology, effective May 6, 2013. Mr. Gadson is a highly experienced software engineer and technical team lead with more than 20 years of experience in the design, development, and integration of enterprise-wide systems.

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Americans with an Account in Third Party Collections Hits All-Time High…Again

Posted on 17. May, 2013 by Collections Recon.

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For the second straight quarter, the percentage of Americans with at least one account in the third party debt collection system hit an all-time high in the first three months of 2013. Close to 15 percent of consumers have an account being worked by debt collectors.

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Mike Ginsberg: A Mixed Bag for ARM Professionals

Posted on 17. May, 2013 by Collections Recon.

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The latest rumblings about the debt collection and accounts receivable management industry are a mixed bag for credit and collection professionals.

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Small Claims Courts are Not Judicial Districts Subject to Section 1692i of FDCPA

Posted on 17. May, 2013 by Collections Recon.

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A United States District Court recently concluded that certain states’ judicial structures provide that the Circuit Courts are considered “judicial districts” for purposes of the required venue provisions in the Fair Debt Collection Practices Act, 15 U.S.C. § 1692i, but township small claims courts are not.

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Another Large UK Debt Collection Deal: Lowell Group Acquires Interlaken Group

Posted on 17. May, 2013 by Collections Recon.

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Lowell Group, a leading purchaser of non-performing consumer debt portfolios in the United Kingdom, today announced the acquisition of Interlaken Group, including its widely known Fredrickson International brand. The deal, for an undisclosed sum, will see ownership of the Surrey-based debt collection agencies group transfer to Lowell Group, along with the 300 plus employees.