Account Recovery

JANUARY 2, 2025

Defaults on credit card debt have surged to their highest levels since the 2008 financial crisis, signaling worsening financial conditions for lower-income consumers amid persistent inflation and elevated interest rates. By the numbers: The big picture: Consumers are feeling the pinch as higher balances and borrowing costs erode their financial stability: Between the lines: The pandemic-era surge in savings and consumer spending gave credit card issuers confidence to extend credit to riskier bor

Credit Card Debt 246

Credit Card Debt 246

Account Recovery

JANUARY 2, 2025

I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de

Education 130

Education Collections 130

Account Recovery

JANUARY 2, 2025

Getting to Know Mara Morgan of Account Recovery Specialist Inc. Autopay Disruption Leads Judge to Deny MJOP in FCRA Case Credit Card Defaults Soaring, Highlighting Consumer Financial Strain in 2025 iWallet Introduces Voice AI for Payments, Aims to Revolutionize Digital Transactions WORTH NOTING: Here is a list of 25 fun and practical ideas to use as resolutions for 2025 … Babies being born this year are being born into a new generation … How much ransomware costs companies in terms o

130

130

Account Recovery

JANUARY 2, 2025

A District Court judge in Illinois has denied a defendant’s motion for judgment on the pleadings in a Fair Credit Reporting Act case that stemmed from the defendant disabling the autopay feature on the plaintiff’s account, after it had been used to make 95 monthly payments in a row. The background: The plaintiff opened a credit card with the defendant in 2015 and established autopay for his account.

Judgment 130

Judgment Banks 130

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Account Recovery

JANUARY 2, 2025

iWallet, a payment solutions provider, has launched what it says is the first PCI-compliant telephone order system that uses voice AI instead of traditional keypad entry, targeting businesses looking to modernize their payment acceptance processes. EDITOR’S NOTE: If you’ve read this far, you are likely interested in how technology is re-shaping debt collections.

Collections 130

Collections 130