Accounts Recovery's Blog – May 2010 Archive (16)

FTC Delays Red Flags Rule (Again)

*Support from Regal Technologies*

Much like the Energizer Bunny, it's the extension that just keeps on going.

Slated to be enforced on June 1, the Federal Trade Commission has pushed back its Red Flags Rule deadline to Dec. 31, 2010, while Congress contemplates legislation that "would affect the scope of entities covered… Continue

Added by Accounts Recovery on May 28, 2010 at 10:00am — 1 Comment

Facebook Collection Scandal, Take 2

*Support from Regal Technologies*

First it was the collector posing as an attractive woman on Facebook, luring delinquents into accepting “her” friendship. And now, it’s the shirtless man friending debtors in hopes of getting their whereabouts.

The Age reports that ANZ’s Melbourne,… Continue

Added by Accounts Recovery on May 26, 2010 at 4:30pm — 2 Comments

To Catch a Consumer

*Support from Regal Technologies*

While on a repo story treasure hunt for one of our print publications, I came across a couple of collection-related gems.

For one, the success rate of repos used to be higher years ago, as people were less mobile, according to Les McCook at American Recovery Association, Inc. Now add a recession into the equation, and you've got everyone everywhere. Why? People are going where…

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Added by Accounts Recovery on May 25, 2010 at 4:00pm — 2 Comments

Commercial Risk Scores Up 1.8%, Reports Experian

*Support from Regal Technologies*

The national average commercial risk score is up by 1.8% since 2010's beginning, according to Experian’s Business Benchmark April report.

Two other interesting nuggets from the monthly report that assesses the health of U.S. businesses include:

- Midsize businesses ( 100- to 249-employee… Continue

Added by Accounts Recovery on May 20, 2010 at 10:00am — No Comments

Reporter's Notebook

*Support from Regal Technologies*

Customer Services vs. Security

“Enterprises must balance security and customer satisfaction with costs,” said Dan Elvester, director of business at Experian, at last week’s VoiceBiometrics conference in New Jersey.

His suggestion? Couple… Continue

Added by Accounts Recovery on May 17, 2010 at 4:00pm — No Comments

American Profit Recovery on Hiring Collectors

Finding a good collector is much like hunting for treasure: You never know if you will find a gem. So to discover how one collection agency sources and retains talent, The Source recently spoke with American Profit Recovery’s Jeff DiMatteo, a partner, and Michelle Riviello, who heads up human resources. Below are highlights from the conversation with the Marlborough, Mass.-based agency.

The Source: What are some traits you… Continue

Added by Accounts Recovery on May 17, 2010 at 4:00pm — No Comments

ARM Members Launch IT Efforts to Improve Collector Turnover Rates, Training

Among the glut of afflictions costing the collection and credit industry, a major expense is coming from within: high collector turnover rates.

With attrition running “upwards of 60% and 70% at many agencies,” agencies are forced to cough up the dough, says Chris Bracken, chief executive of Atlanta, Ga.-based CallME! Staffing. Indeed, turnover costs companies $4,284 per agent on average, according to December research from staffing… Continue

Added by Accounts Recovery on May 17, 2010 at 4:00pm — 1 Comment

Roundup of New Skiptrace Technology Updates

*Support from Regal Technologies*

In the last couple of weeks, there’s been some skiptracing announcement action from a myriad of providers. Here’s the rundown of the latest and greatest enhancements from three different vendors:

MicroBilt enhances “People Search”…

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Added by Accounts Recovery on May 14, 2010 at 11:30am — 1 Comment

Up Up and Away: Wireless-Only Households Grows

*Support from Regal Technologies*

The calling debtors' landlines game is not getting easier, as the percentage of cellphone-only households continues to trend up.

Indeed, roughly a quarter of households have foregone landlines for cellphones, reported the National Center for Health Statistics, part of the Centers for Disease Control and… Continue

Added by Accounts Recovery on May 14, 2010 at 10:30am — 1 Comment

ACA Solicits Support to Defeat FCC's TCPA Proposal

*Support from Regal Technologies*

Yesterday, ACA International circulated a letter to its members, requesting they fight the Federal Communications Commission's recent proposals to the TCPA, because if enacted, collection calls would become more onerous. (Read background on this issue… Continue

Added by Accounts Recovery on May 13, 2010 at 10:00am — No Comments

FCC Wants Alerts on Wireless Overages, Says WSJ

*Support from Regal Technologies*

Joe White has details of a new FCC proposal which would require wireless carriers to alert consumers if they've gone over their monthly data or text message… Continue

Added by Accounts Recovery on May 12, 2010 at 9:00am — 4 Comments

New Consultancy Exec Talks Industry Trends, Challenges

Like Wicked, Bob Deter knows another side of the story.

Having worked on both the issuer and debt buyer sides, Deter has a wider perspective of the collection and credit industry. The Discover Card vet -- who has been in the sector for more than 21 years -- launched a consultancy last month, offering up his insights. To find out more about his new company, Stonecreek Enterprise LLC, and gain some of his overall impressions of… Continue

Added by Accounts Recovery on May 11, 2010 at 12:00pm — No Comments

Tool Encourages Peers to Dish On Companies' Delinquencies

*Support from Regal Technologies*

Who needs a Gossip Girl, when the whole community is ready to dish on payment behaviors?

Today, community-driven business credit bureau Cortera launched Cortera Circles, a peer-to-peer risk information sharing tool. Simply put, the online tool lets peers share… Continue

Added by Accounts Recovery on May 11, 2010 at 10:30am — No Comments

Savings Strategy: Voice Biometrics

*Support from Regal Technologies*

What’s in a voice? Potentially, cost savings for call centers.

Yesterday, I circulated to New Jersey, spending the day in conference sessions detailing the perks -- and some of the complications -- in using voice biometrics to authenticate consumer calls. Basically, once a company has captured a consumer's voice print by using the technology, it can identify the consumer's voice in future… Continue

Added by Accounts Recovery on May 6, 2010 at 3:30pm — No Comments

ACA Raises Funds to Try to Defeat FCC's TCPA Proposal

*Support from Regal Technologies*

ACA International wants your money to fight a recent FCC proposal that suggests revisions to the Telephone Consumer Protection Act that would make calling debtors more onerous.

From the…

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Added by Accounts Recovery on May 4, 2010 at 9:30am — No Comments

Interactive Data Launches New Skiptracing Tool

*Support from Regal Technologies*

Skiptracing rollouts continue to get more action this week, with Interactive Data LLC announcing a new service dubbed “Relatives and Neighbors,” a tool that connects with search fields like relative names, possible relationships, SSN, DOB, phone,… Continue

Added by Accounts Recovery on May 4, 2010 at 9:30am — 1 Comment