April, 2018

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Taurus Collect

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The McHughes Law Firm

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What Should Debt Collection Success Rates Be for My Company?

National Service Bureau

When evaluating and comparing debt collection agencies, two of the best metrics to consider are profit recovery rate and the overall success rate for settlement. As your likelihood for write-off increases drastically with each passing week after your debt holders go past due, it's critical to work with the collection agency that has the most thoroughly proven track record of success.

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Air Philippines Debt Collection

Stevens Lloyd

Overview The Stevens-Lloyd Group was retained by GM Air, a commercial aviation company which specializes in supplying the military, located in Miami, Florida. They were owed $146,588.32 from Air Philippines, located in Manilla. GM Air provided aviation parts for this company however they were not paid for their product. Background The situation and complication faced by GM Air was that despite many attempts to recover the money, Air Philippines continued to break promises and ignore our client’s

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Solve Your Firms Automation Complexities Once and For All

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.

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Deeming the Tracking of a Debtor’s Every Move “Impractical,” District Court Finds a Bona Fide Error and Dismisses FDCPA Action Against Law Firm

Consumer Financial Services Law

A district court has dismissed an FDCPA action based on a bona fide error after reviewing the collection firm’s extensive pre-suit procedures and determining they were reasonably calculated to avoid any errors. Guynn v. Blatt, Hasenmiller, Liebsker & Moore, LLC , 2018 U.S. Dist. LEXIS 43032 (S.D. Ind. March 14, 2018). In 2006, Mr. Guynn, opened a personal credit card with Bank of America.

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Apr 2, My son's medical bills are on my credit reports

Debt Collection Answers

I received 2 collection letters for my son with my name on them. He doesn't live with me. When I looked at my credit report they put the to bills for in collections under me.

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Lorem ipsum dolor sit amet

The McHughes Law Firm

Lorem ipsum dolor sit amet. Consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Diam in arcu cursus euismod. Vitae suscipit tellus mauris a diam maecenas sed enim ut. Nunc mattis enim ut tellus elementum sagittis vitae et leo. Neque volutpat ac tincidunt vitae semper. Lacus laoreet non curabitur gravida arcu ac tortor.

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What You Should Be Holding Your Agency Accountable For? (Requirements)

National Service Bureau

There are many ways to evaluate commercial debt collection agencies. The objective of your evaluation is to hold your agency partner accountable by clearly establishing your working models, KPIs, and your SLA to create a full scope of work. You'll consider a variety of performance factors, both quantitative and qualitative, and hold these up against your own expectations as well as defined industry standards.

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Lorem ipsum dolor sit amet

The McHughes Law Firm

Lorem ipsum dolor sit amet. Consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Diam in arcu cursus euismod. Vitae suscipit tellus mauris a diam maecenas sed enim ut. Nunc mattis enim ut tellus elementum sagittis vitae et leo. Neque volutpat ac tincidunt vitae semper. Lacus laoreet non curabitur gravida arcu ac tortor.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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Lorem ipsum dolor sit amet

The McHughes Law Firm

Lorem ipsum dolor sit amet. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Diam in arcu cursus euismod. Vitae suscipit tellus mauris a diam maecenas sed enim ut. Nunc mattis enim ut tellus elementum sagittis vitae et leo. Neque volutpat ac tincidunt vitae semper. Lacus laoreet non curabitur gravida arcu ac tortor.

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District Court Holds that the Verbiage, “Settlement Offers May Have Tax Consequences”, in a Debt Collector’s Form Collection Letter was not in Violation of the FDCPA

Consumer Financial Services Law

By: Hannah D. Choe The Western District Court in New York has held that a debt collector did not violate § 1692e(10) of the FDCPA. The Court held that a form collection letter with offers of settlement did not “use… false representation or deceptive means to collect or attempt to collect [a] debt” when the form letter contained language which stated, “[t]hese settlement offers may have tax consequences” following Defendant’s three offers to settle Plaintiff’s debt for less than the full amount t

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DC Circuit Turns Away Healthcare Challenges to TCPA Declaratory Ruling

Consumer Financial Services Law

By Zachary K. Dunn In ACA International v. Federal Communications Commission , 2018 U.S. App. LEXIS 6535 (2018), the DC Circuit rejected a series of challenges to the FCC’s 2015 Declaratory Ruling brought by Rite-Aid related to the partial-exemption to the prior-consent requirement for healthcare related calls. The Court rejected two separate arguments: first, that the Declaratory Ruling conflicts with HIPPA; and second, that the Declaratory Ruling’s exemption for “certain healthcare calls” but

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Second Circuit Seeks to Provide Clarity as to Interest Disclosure

Consumer Financial Services Law

Last week, the Second Circuit attempted to clarify its position emanating from its decisions in Avila v. Riexinger & Assocs, 817 F.3d 72 (2 nd Cir. 2016) and Carlin v. Davidson Fink LLP, 852 F.3d 207 (2 nd Cir. 2017). Taylor v. Financial Recovery Services, Inc., No. 17-1650 (2 nd Cir. Mar. 29, 2017). In Taylor, the issue before the court was whether a collection notice violates 15 U.S.C. §1692e when it fails to disclose that interest or fees are not currently accruing on a debt.

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How Collection Agencies Minimize Effort and Maximize Results with the Right Software

Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.

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Seventh Circuit Joins Others on Debt Validation Requirements

Consumer Financial Services Law

The Seventh Circuit recently joined the Fourth and Ninth Circuits in holding that a debt collection discharges its obligation as to debt validation by verifying that its letters accurately conveyed the information received from the creditor. Walton v. EOS CCA, 2018 U.S. App. LEXIS 7075 (7 th Cir. Mar. 21, 2018). In Walton, AT&T forwarded the consumer’s account to EOS CCA for collection.

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Has Mulvaney Gone Too Far? A Look at the CFPB’s Semi Annual Report to Congress

Consumer Financial Services Law

The CFPB has issued its semi-annual report to Congress, leaving little doubt as to the agenda of Acting Director, Mick Mulvaney. While the information contained in the actual report is largely inconsequential, it is Mulvaney’s opening message which should raise eyebrows of both consumer advocates and the consumer financial service industry. Mulvaney quotes the Federalist Papers and draws on James Madison’s definition of tyranny when describing the CFPB’s Director (an accumulation of all powers,