Using external collections to recover debt is a tried-and-proven method that can deliver extraordinary results. On the other hand, mounting internal campaigns to avoid paying contingency fees is tempting, but the high startup costs and complex compliance requirements generally outweigh the potential savings. Furthermore, just one compliance blunder may result in expensive litigation, regulatory fines,…
The International Association of Credit Portfolio Managers (IACPM) will host the IACPM 2017 Annual Fall Conference November 7 – 8 at The Westin Philadelphia hotel in Philadelphia, Pennsylvania. With a recurring attendance rate of over 250 senior risk portfolio management professionals representing firms across the globe, IACPM’s annual event is the largest meeting of credit…
Petaluma, California (October 23, 2017) — Optio Solutions, an accounts receivable management firm, is supporting staff members affected by the Tubbs Fire with paid time off and a crowdfunding campaign. The agency’s corporate offices in Petaluma, Sonoma County were unharmed by the fires. In addition, services and data storage were safe while the company’s Disaster…
Risk management professionals will “prepare for tomorrow” with specialized sessions, interactive workshops and professional network-building events at the 2017 Annual Risk Management Conference this winter. Hosted by the Risk Management Association (RMA), professionals at all career levels are welcome to attend. The 2017 conference will focus on key issues currently affecting the financial services industry…
Petaluma, California (October 5, 2017) — Staff members of Optio Solutions, an accounts receivable management firm, contributed a total of $2595 to Hurricane Harvey relief efforts via the American Red Cross. Personnel from company offices in Petaluma, California and Fargo, North Dakota took part in the fundraising drive. Each was awarded with optional “dress-down days”…
In early December, the IRS will announce the official start of the 2018 tax season, designating the date the bureau begins processing electronic tax returns. The related press release will also include the filing deadline for submitting 2017 tax returns. The traditional April 15 deadline falls on a Sunday in 2018, so the closing time…
The nuances of debt collection laws remain dynamic. Best-in-class collection agencies and businesses conducting accounts receivable management are regulated by federal laws such as the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA) and the Fair Debt Collection Practices Act (FDCPA). While the majority of state laws mirror the FDCPA, states such…
Optio Solutions is among the 56 American debt collection agencies to have earned PPMS certification (Professional Practice Management System) from ACA International, a distinction achieved by only 1.36 percent of the 4,100 agencies. To become certified, a company must complete a rigorous application and auditing process. Optio has been certified since January 2013. According to…
U.S. consumer debt hit $12.84 trillion in Q2 of 2017, with delinquent debt reaching $612 billion and seriously delinquent debt — at least 90 days late — rising to $411 billion, according to the Federal Reserve Bank of New York’s quarterly report. In response, many businesses are contracting with debt collection agencies. To produce favorable…
Petaluma, Calif. (September 11, 2017) — Optio Solutions, an accounts receivable management firm, has appointed Alicia L. Durand to the position of in-house counsel and manager of corporate compliance. She reports directly to President and CEO Chris Schumacher. Prior to joining Optio Solutions, Durand fulfilled several positions at the Sonoma County Office of the District…