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)…
DetailsPetaluma, Calif. (July 15, 2019) — The volunteer effort by staff members of Optio Solutions and affiliate, CrossCheck, at the Redwood Empire Food Bank has reached 14 consecutive months. Ten employees participated in the food bank’s weekday Warehouse Support program on June 27. Food bank representative Cassidy Jourdan said the staff members helped package 4,722…
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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…
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The 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…
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