Collection Recon

Student Loan Collector Becomes FISMA Certified

Posted on 07. Aug, 2012 by Collections Recon.

0

Regional Adjustment Bureau, Inc. (RAB – www.rabinc.com), a leading provider of student loan collection services to guaranty agencies and universities, has announced it has received third-party certification of its compliance with the Federal Information Systems Management Act (FISMA) from Crimson Security. This certification reinforces the overall quality, management, and data security assurance RAB offers clients, which also includes Standards for Attestation Engagements (SSAE) No. 16 certification, International Organization for Standardization (ISO) certification 27001:2005, and Payment Card Industry (PCI) certification.

Continue Reading

$7-$14M Agencies Sought for Student Loan Collection, Teleseminar Scheduled

Posted on 03. May, 2012 by Collections Recon.

0

Collingswood, NJ: Net Gain Marketing, Inc. (NGM) has announced it is now recruiting collection agencies with revenues averaging $7-14M per year for the period 2009-2011 to act as potential future subcontractors on the United States Department of Education (ED) Private Collection Agency (PCA) contract. The ED PCA contract includes incentives for contractors to give up to 10% of placements to small business subcontractors. Estimates show these incentives could result in revenues of more than $70,000,000 per year to all ED small business subcontractors by 2015 based on known estimates of what prime ED contractors are expected to bill ED per year by then. NGM is holding a teleseminar to provide an overview of the opportunity on May 17, 2012, at 11:30 EST.

Continue Reading

Debt collector must reimburse $175,000

Posted on 12. Mar, 2012 by Collections Recon.

0

A collection agency was fined $16,000 in February and ordered to reimburse funds it collected without court authorization, according to a consent order by the Minnesota Department of Commerce.

Continue Reading

Collection Agency Answers Questions About The Value of Outsourcing Accounts Receivables

Posted on 27. Feb, 2012 by Collections Recon.

0

American Profit Recovery Answers the Question- Is it worth going to a collection agency for small amounts owed

Continue Reading

Collection Agencies Merge, Bringing $2.5 Million In Investment To Covington, Kentucky

Posted on 23. Feb, 2012 by Collections Recon.

0

New York City-based Plaza Associates, a financial collections agency, acquired ACB American, a Covington, Kentucky-based collection agency to form Plaza Recovery. The merged company will invest more than $2.5 million to expand its North Kentucky location from 25,000 to 43,000-square-feet, and add up to 250 jobs to its workforce.

Continue Reading

Winnebago County court fine collections cause claims of déjà vu

Posted on 13. Feb, 2012 by Collections Recon.

0

A new collection agency has reclaimed $287,011 in unpaid Winnebago County court fines in less than two months, but many people say they’re being targeted for penalties they’ve already paid.

Continue Reading

Telecommunications, collections, broadband service companies top list of state consumer complaints filed in 2011

Posted on 03. Feb, 2012 by Collections Recon.

0

Telecommunications companies, including phone companies, topped the list of complaints filed with Washington Attorney General’s Office last year with 1,581 complaints. Second is collection agencies, which ranked No. 1 in 2010, with 1,577 complaints. Broadband companies captures third place with 1,363 complaints.

Continue Reading

Collection Agency Picked On the Wrong Lou Correa

Posted on 03. Feb, 2012 by Collections Recon.

0

Last year, California State Senator Lou Correa (D-Orange County) was sued for a $4,000 debt owed by an unrelated “Luis Correa,” and learned of the lawsuit only after his wages had been garnished. Sear’s billing department had handed the original debt off to LVNV Funding LLC, a debt-collection clearinghouse, which in turn hired the Brachfield Law Group to collect the actual debt. Brachfield sent numerous letters to Luis Correa that went unanswered.

Continue Reading

Persolvo Data Systems Experiences Record Growth in 2011

Posted on 02. Feb, 2012 by Collections Recon.

0

Persolvo Data Systems, a leading provider of web-based settlement software and analytics tools designed to locate, identify and settle accounts enrolled in debt settlement programs, announced today that the company achieved a number of record milestones in 2011. For the year ending December 31, 2011, Persolvo grew revenues by 278% over 2010 and increased the amount of debt settled by 237%. In addition to successfully deploying their first top 5 credit card issuer in 2011, the company more than doubled the number of debt buyers, collection agencies and legal recovery firms utilizing Persolvo’s technology.