The debt collections industry enjoys acronyms almost as much as Congress does — from CCCO, CCCP and PCS to HIPAA, FDCPA and TCPA — but who’s counting? The correct answer is that many parties with a vested interest in debt collections — from consumers, clients attorneys to government bureaucracies and watchdogs — are counting on…Details
The number of reported U.S. data breaches in 2016 surpassed the previous all-time high reached in 2013 according to a report conducted by the Identity Theft Resource Center (ITRC). The 1,093 data breaches confirmed by ITRC exposed over 36.6 million [data or individual data] records.Details
This summer, the Seattle Space Needle will point the way to the debt collection industry’s largest event of the year, the ACA International Convention & Expo. The ACA International’s yearly event operates as the debt collection industry’s focal point for innovative ideas, products and services. Collection agencies, collection attorneys, creditors and other professionals will take…Details
Collection and Recovery Solutions 2017 takes place May 10 – 12 at the Four Seasons Hotel, Las Vegas, and is open to senior-level members of the debt collections industry involved in collection, recovery operations, compliance, risk and strategy on a first-come, first-served basis via registration. The conference offers general sessions, receptions, an exhibit hall and…Details
The Internal Revenue Service announced the official start of the 2016 tax season on Monday, January 23 by unlocking the doors to its virtual storefront and accepting the first electronic tax returns. The agency anticipates processing over 153 million returns this year with an estimated 80% of the total generated by tax preparation software. Meanwhile,…Details
There are certain jobs and industries where cutting corners is acceptable or even considered harmless. The accounts receivable industry, where debt collection values are revered, is not one of them.
“What harm,” one may ask, “is there in not fully complying with state and federal laws, or not documenting business activities such as letters or phone calls?” That type of slack may cut it in some sectors, but not in debt collections.
There are other ways to use and abuse reasonable and customary actions, including the harassment of consumers at their place of employment or contacting them during embargoed hours of the day.Details