Michael Gibb's Blog (9)

Congress May Ask New Regulator to Monitor Collectors

From Dow Jones:

A congressional report detailing abuses by debt collectors demonstrates the need for a new consumer financial protection agency, said Sen. Carl Levin, D-Mich., Wednesday.

The Government Accountability Office report comes as the House is working out details of the agency, proposed as part of the Obama administration's regulatory overhaul. The House Financial Services Committee is expected to vote on the bill Thursday, while the Senate h

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Added by Michael Gibb on October 22, 2009 at 8:21am — 1 Comment

NCO Plans Call Center in West Virginia

NCO Group is planning a 150-seat call center in Charleston, W.V., according to published reports. Initially, the center will open with 35 employees handling customer service calls for Mountaineer Gas Co. Another 115 reps will then be hired to handle calls from other NCO accounts. The remaining 15 employees will work in other capacities. It is unclear whether NCO will use the new call center to collect debts, according to the report. Mountaineer Gas, however, has an existing contracts with other… Continue

Added by Michael Gibb on October 21, 2009 at 8:17am — No Comments

Report: Gila Corp. CEO Departs

From the Austin Business Journal:

Patrick Swanick, CEO of Gila Corp., will depart the debt-collection company at the end of the year and be replaced by current president Bruce Cummings.

Austin-based Gila Corp., which operates as Municipal Services Bureau and Gila Group, announced its succession plan for executive management on Tuesday.

Cummings has served as president of Gila since September 2008. In that role he has been responsible for the c

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Added by Michael Gibb on October 21, 2009 at 8:08am — No Comments

Senate Debates BK-related Healthcare Changes

There was a very interesting hearing in Washington, D.C., today, with definite implications for collectors. The hearing was meant to delve into the topic of whether or not consumers should be forced into bankruptcy based on healthcare-related expenses. The hearing heard testimony from a Rhode Island mother, whose son passed away at 4 1/2 after battling cystic fibrosis. Insurance covered most of the $5 million in expenses, but it didn't cover everything. The parents were unable to make up the di… Continue

Added by Michael Gibb on October 20, 2009 at 4:56pm — No Comments

Florida Paper Spotlights Rising Number of Collection Complaints

The number of complaints against debt collectors is on pace to rise again in 2009, according to a report in today's South Florida Sun-Sentinel. The report describe complaints that include a collector allegedly threatening a consumer with physical harm and another telling a consumer she was going to end up in jail if she didn't pay her overdue debts. This year, the Sunshine State's Attorney General is expected to receive 5,900 complaints, up from about 4,300 in 2007 and 5,300 last year.… Continue

Added by Michael Gibb on October 20, 2009 at 12:07pm — No Comments

Russian Utilities Use TV As Shaming Tool

In most cases, if your name makes it on the evening news, chances are you did something bad to deserve it. In Russia, the list of atrocities that get your name on TV now includes not paying your electric bill. Utilities are submitting names of delinquent debtors to television stations. Of course, this begs the question: If I didn't pay my electric bill, how do I know if my name was mentioned on TV?… Continue

Added by Michael Gibb on September 25, 2009 at 10:03am — No Comments

Using the Soft Sell in Collections

For all the benefits technology adds to the collections process -- and they are myriad -- there are still many occasions when it's one human being talking to another. The Wall Street Journal today posted an article about how small businesses are altering their collections approach, as their customers suffer through the recession. Empathy is the word of the day as small businesses try to coax payments from their custome… Continue

Added by Michael Gibb on January 22, 2009 at 3:30pm — 6 Comments

The Best Kind of Traffic Jam

I could channel "The Jeffersons" with their catchy "Movin' On Up" theme song, or Sally Field with her famous "You like me" Oscar acceptance speech, but I think I'll settle for Homer Simpson. Woo-Hoo! The acceptance of CollectionTechnology.net by the accounts receivable industry has been extraordinary, and the most recent website traffic figures confirm your belief in us, and our efforts.

As the graph from compete.com… Continue

Added by Michael Gibb on January 8, 2009 at 5:30pm — 5 Comments

MasterFiles Secures Lead Sponsorship at Collection Technology Summit

MasterFiles Inc. has signed on to be the Diamond Sponsor of the 2009 Collection Technology Summit. Also an exhibitor at the upcoming Auto Finance Summit, MasterFiles is a provider of data for sales leads and collection efforts. The focus on collections operations has intensified this year as more consumers become delinquent on their mortgages, auto loa… Continue

Added by Michael Gibb on September 18, 2008 at 10:30am — No Comments