For the second consecutive year, college-bound children of employees at Optio Solutions and affiliate CrossCheck were awarded scholarships from the ACA International Education Foundation (ACAEF). Trevor Arco (Texas) finished in second place while Nicholas Siembieda (Calif.) was among the fourth-place winners. The recognitions were part of the foundation’s Loomer-Mortenson Scholarship, an annual program that recognizes…Details
There is only one season that really matters to the debt collection industry — the tax season that runs from late January to mid-April. Hence the need for planning a tax season collection strategy. There are others types of seasons, however, including those recognized by people living in a variety of places around the world.
Individuals from tropical regions often refer to the dry season and rainy season; most of the world follows the astronomical seasons (spring, summer, autumn and winter) of the Gregorian calendar; and numerous cultures recognize six seasons that roughly translate to early spring, spring, high summer, late summer, autumn and winter in western countries, or spring, summer, monsoon, autumn, early winter and late winter in south Asia.Details
Third party collection agencies maintain clean desk policies to protect the confidential, personal or sensitive information belonging to agency clients and consumers. A component of compliance management systems (CMS), clean desk policies work in concert with secure controls over networks, file transfer protocols, data storage, backup systems, employee training programs, authorized access to buildings and…Details
Auto lenders received some sobering news in May 2019 regarding the repayment of auto loan debt. The euphoria created by the recent record highs in newly originated auto loans and the average price per vehicle was tempered by the announcement that delinquencies continue to increase for some borrowers. Specifically, serious delinquencies (90 days or longer)…Details
With a delinquency rate reaching the highest level since the Great Recession, auto loan debt has become serious business for lenders and the agencies that represent them. The factors leading to this decline include a record-high sum of newly originated auto loans ($584 billion in 2018), a record-high average price per vehicle ($37,577 in December…Details
Predictive modeling is used in many aspects of life today. For example, a fisherman can use predictive forecasts to determine the patterns of fish to find the best times and locations to get the most action. Similarly, in the world of collections, there are many fish in the sea with agencies challenged to handle massive…Details