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…
DetailsPredictive 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…
DetailsThe Association of Credit and Collection Professionals (ACA International) presents its annual conference July 14 – 16, 2019 at the Hilton San Diego Bayfront. The ACA International Convention & Expo 2019 features 35 educational sessions led by industry experts, an exposition hall showcasing innovative industry providers, and several opportunities to share best practices with peers…
DetailsCollecting on accounts receivable can bring in sizable amounts of revenue to clients, but third-party debt collection agencies should maintain a compliance management system (CMS) to provide legal compliance and other benefits. First, a CMS enables agencies to remain compliant with federal, state and local laws that protect consumer interests. The approach ensures that every…
DetailsLaunching and maintaining best-in-class debt collection agencies requires a tremendous effort and an ongoing commitment to compliance, certification, data security, and collections technology. Recent articles in this blog have also discussed the importance of having highly qualified people in client relations and operations. Client relations teams are responsible for ensuring that clients are satisfied with…
DetailsProduced by insideARM, the 2019 First Party Collections Summit will focus on the unique challenges of first party collections, outsourcing collections management, and the consumer experience. The event is scheduled for June 17 – 19 at the Loews Vanderbilt Hotel in Nashville, Tenn. Over 350 first party partners are expected to attend, including 100-plus creditors and 100-plus collection agencies.
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