“Consumer confidence hit a 17-year high in late 2017 and holiday sales jumped nearly 5% vs. 2016, the largest year-over-year increase since 2011,” Experian stated in its 2017 State of Credit survey, that included the retail industry. The eighth annual survey provides insights about retail credit card use among U.S. consumers. Taking a closer look…
A successful debt collection agency is powered by skilled, knowledgeable leaders. Management is responsible for maintaining smooth day-to-day operations that significantly impact clients’ return on investment (ROI), brand image, and customer retention and satisfaction rates. The performance of these crucial tasks are predicated on utilizing a number of important operational, technological and analytical tools that…
Despite the growing optimism among U.S. consumers about the economy and their personal finances, the rising debt from unpaid student loans, auto loans and credit card balances over the last 18 months should be disconcerting to all financial institutions, including community banks and credit unions. Thus, the importance of maintaining judicious loan practices and effective…
Petaluma, California (July 10, 2018) — Employees from Optio Solutions and its parent company, CrossCheck, volunteered at the Redwood Empire Food Bank on June 28 to sort, weigh and package 7,000 pounds of apples for seniors in need. The consolidated effort was organized by CrossCheck Senior Vice President Charles Dortch III to support the REFB’s…
Petaluma, Calif. (June 21, 2018) — Optio Solutions, a national debt collection agency, has received its annual attestation for payment card information security (PCI DSS 3.2) and controls affecting clients’ financial statements (SOC 1 Type II) as well as a third attestation for non-financial reporting controls (SOC 2 Type II). KirkpatrickPrice, a licensed CPA and…
The perfect storm of circumstances is challenging energy industry accounts receivable as the result of nationwide trends, some as old as a decade. These developments are fueled by the one-two punch of a demanding industry landscape and increasing consumer debt that is reducing revenue. The latter is especially disconcerting because consumers are triaging their debt…
CRS 2018, a conference for the collection and recovery industries, was the center of attention for senior level creditors involved in collection, recovery operations and strategy on May 9 – 11, 2018 at the Four Seasons Hotel Las Vegas. The trade event featured workshops, keynotes, concurrent seminar sessions, round-table discussions, networking opportunities and an expo…
Hospitals and private practices have been slow to implement a smooth transition to value based healthcare despite having over eight years to plan and execute a successful strategy (the concept became law with the passage of the Affordable Care Act in March 2010). The ACA is a massive piece of legislation addressing so much more…
Since 1939, the Association of Credit and Collection Professionals (ACA International) has worked to enhance debt collection agency performance through comprehensive education, training, events and publications. ACA International members located across the globe will assemble at the Omni Nashville Hotel in Nashville, Tenn. for the 2018 ACA International Convention & Expo on July 23 –…
Value based healthcare is expected to impact debt collections for the average 350-bed hospital, a classic American institution that is losing about $22 million each year according to the Advisory Board. The transition from the traditional fee-for-service payment model to value based healthcare is expected to be “painful” in the short term, but most experts…