There are certain jobs and industries where cutting corners is acceptable or even considered harmless. The accounts receivable industry, where debt collection values are revered, is not one of them. “What harm,” one may ask, “is there in not fully complying with state and federal laws, or not documenting business activities such as letters or…
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Petaluma, Calif. (January 18, 2017) — Optio Solutions, an accounts receivable management firm, has appointed Claire Molesworth to the position of in-house counsel and manager of corporate compliance. She reports directly to President and CEO Chris Schumacher. Molesworth is a seasoned litigation and regulatory attorney with over eight years of experience representing banks and financial…
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Petaluma, Calif. (December 20, 2016) — Optio Solutions, an accounts receivable management firm, generated its latest installment of holiday giving by participating in the Salvation Army Angel Tree program and the Annual Food & Funds Drive for the Redwood Empire Food Bank. Employees placed dozens of Christmas presents under the Angel Tree and donated enough…
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Earlier this week, TransUnion published an article forecasting higher 2017 delinquency rates for auto loans that will pose greater challenges for auto debt collections. The expected delinquencies are “still far below recession levels,” but auto lenders will be well served by an organized collection effort that allows them to remain in front of the expected…
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Petaluma, Calif. (December 15, 2016) — Optio Solutions, a national debt collection agency, announces the completion of PCI and SSAE 16 (SOC 1) Type II audits and the receipt of its Report on Compliance (ROC). These actions confirm that Optio is compliant with the Payment Card Industry Security Data Standard (PCI compliance) and has implemented…
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A report by the Institute for College Access & Success (TICAS) suggests student loan debt is a growing problem for graduates as well as academic institutions and lenders. “Student Debt and the Class of 2015,” an eleventh-annual report, was published on October 18, 2016 with statistical analysis about recent graduates. The 24-page study finds “wide…
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