Creditors Financial Institution Lender 
True Accord
JULY 13, 2023
If you’re a creditor or collector working with financially distressed borrowers, considering consumer situations and preferences when attempting to collect and employing digital strategies to boost engagement are more important than ever. There were also a couple of notable court decisions impacting debt collectors last quarter.
Jimerson Firm
FEBRUARY 10, 2022
When account owners have an account that reflects a negative balance, the lender is faced with a myriad of options and obligations with regard to the pursuit of that debt. Lenders that charge off a debt trigger issuance of the 1099-C when their defined policy leads the lender to discontinue collection activity and discharge a debt.
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Troutman Sanders
MAY 5, 2022
Providing inaccurate explanations to consumers as to why the creditor denied the consumers’ billing error claims in whole or part. The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. Debt Collection. Too many holds on mobile check deposits.
Qualco
DECEMBER 7, 2021
In that context, lenders need to have access to state-of-the-art technology to avoid major losses. A solution that will enable creditors to quickly do analyses of a vast amount of data from multiple sources; have access to insights about delinquency status, and ways to efficiently manage customers that default. The problem.
Collection Industry News
MAY 9, 2022
Providing inaccurate explanations to consumers as to why the creditor denied the consumers’ billing error claims in whole or part. The CFPB reports that this seems to happen most often with creditors’ acquisitions of pre-existing credit card accounts from other creditors. Debt Collection. Too many holds on mobile check deposits.
Credit Corp
DECEMBER 14, 2020
While creditors weren’t looking up someone’s history of debt and payments, many lenders did take risk-mitigation actions. Creditors want to know if a person is a good “bet.” It also impacted some people’s ability to get credit with new lenders. The concept of credit reporting may be almost as old.
Qualco
NOVEMBER 30, 2021
Changing customer behavior due to the deterioration of their financial circumstances have led to an uptick in debt and collections activities as well. To navigate through uncertainty, creditors need to adapt their strategy quickly. In that context, analytics can bring true value for lenders. How can this be achieved in practice?
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