As fixtures of American pop culture, superheroes have been idolized by people of all ages since the 1930s — from kids sneaking comic books into class, to adults viewing newspaper comic strips on New York City subways. Their origins have been traced to the gods of Greek and Roman mythology that formed the foundation of…
In late July, the Consumer Financial Protection Bureau (CFPB) released an outline of its proposal to tighten up the highly regulated debt collection industry. These recommendations are mostly targeted at the debt buying industry where debt can be bought and sold many times over, thus moving it further and further away from the original debt…
In the dark ages of debt collections, some agencies had to be pulled kicking and screaming from the depths of questionable business practices. Things have changed. The face of the modern agency now reflects a commitment to debt collection compliance with all state and federal regulations. It has taken enormous resources to reach the current…
A few popular clichés resonate in the business world as well as the personal space: “there are plenty of fish in the sea,” “leave no stone unturned” or “sometimes you have to kiss a lot of frogs before you find your prince.” Those words of wisdom are great if one has a lifetime to spare,…
In an act of debt collections role reversal, two homeowners exercised their rights as property owners by ordering a levy on their banks to recover legal fees. Yes, that’s correct. For the residents, it wasn’t Bank of America or Wells Fargo who would be collecting on them — despite repeated attempts by those institutions —…
Considering the broad spectrum of applicable government agencies, associations and regulations, doing business in the collections industry can be overwhelming. In this complicated landscape, knowledge is power while a familiarity with the various terms and organizations provides a competitive advantage for collections managers. Below are some of the most common agencies, associations and acts that…
Some people would do almost anything to get out of debt. Among those caught in the trap are student loan borrowers willing to engage in outrageous behavior. A June 2016 survey of 500 graduate students by Student Loan Report reveals some disturbing (albeit dubious) results given the propensity of sharp-minded youth to be flippant.
[vc_row][vc_column][vc_column_text]The most recent data shows that the American public is warming up to the debt collections industry. Statistics from the Council of Better Business Bureaus place debt collectors among the top industries in terms of inquiries and complaints settled in 2015. The positive numbers have been trending consistently since 2010.
Selecting a debt collections agency for your business can be a job in itself. Since 1939, ACA International has been establishing ethical standards and educating both credit and collection professionals as well as businesses, policymakers and consumers on the most up-to-date debt collection compliance standards.
[vc_row][vc_column width=”1/1″][vc_column_text css_animation=”fadeInRight”]Petaluma, Calif. (June 1, 2016) — Optio Solutions participated in the ACA International’s 2016 Collectors Challenge during the month of April, furthering a commitment to social responsibility that was recognized by the California Association of Collectors via its 2014 Outstanding Community Service Award. Employees from the Petaluma, California collections firm raised nearly $1000…