Risk management professionals will “prepare for tomorrow” with specialized sessions, interactive workshops and professional network-building events at the 2017 Annual Risk Management Conference this winter. Hosted by the Risk Management Association (RMA), professionals at all career levels are welcome to attend. The 2017 conference will focus on key issues currently affecting the financial services industry…Details
In early December, the IRS will announce the official start of the 2018 tax season, designating the date the bureau begins processing electronic tax returns. The related press release will also include the filing deadline for submitting 2017 tax returns. The traditional April 15 deadline falls on a Sunday in 2018, so the closing time is expected to be extended to midnight, Monday or Tuesday, April 16 or 17 to coincide with the weekday operations of the US Postal Service.
Acknowledging another US tradition — well-intentioned consumers planning to pay down debt using their tax refunds — companies with delinquent customers would be well served by implementing an effective tax season debt collection strategy because some experts believe they can achieve returns on investment of 20 – 30 percent.Details
The nuances of debt collection laws remain dynamic. Best-in-class collection agencies and businesses conducting accounts receivable management are regulated by federal laws such as the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA) and the Fair Debt Collection Practices Act (FDCPA). While the majority of state laws mirror the FDCPA, states such…Details
U.S. consumer debt hit $12.84 trillion in Q2 of 2017, with delinquent debt reaching $612 billion and seriously delinquent debt — at least 90 days late — rising to $411 billion, according to the Federal Reserve Bank of New York’s quarterly report. In response, many businesses are contracting with debt collection agencies. To produce favorable results, best-in-class agencies monitor, quantify and evaluate three key metrics — performance, scorecards and reports.Details
Consumer debt reached $12.84 trillion in the second quarter of 2017, surpassing the previous all-time high of $12.68 trillion in 2008 by $164 billion, the Federal Reserve Bank of New York reports in its Quarterly Report on Household Debt and Credit. The report, released earlier this month, marks the 12th consecutive quarterly increase. A rise in…Details
A second warning about consumer credit card debt indicates Americans have returned to spending more with borrowed funds. Released June 8, the WalletHub analysis is a snapshot of 2016 consumer spending data. This blog covered the specter of increased consumer credit debt combined with higher delinquency rates in the article “Consumer Spending and Debt Increases…Details