debt collections

Industry News: CFPB Addresses Medical Collections

December 12th, 2014

As part of a wide-ranging report this week, the Consumer Financial Protection Bureau (CFPB) addressed an issue that is relevant to many people and many companies: medical debt.

From health care providers to collection agencies to concerned consumers, the rising levels of medical debt are important and need to be discussed. What emerges is the understanding that consumers and companies need to work together to address these issues rather than taking any sort of adversarial approach to the situation.

Tips For Reading Tips About Dealing With Debt Collectors

October 31st, 2014

How to deal with debt collectors.

That is the angle of nearly all of the national coverage of the collections industry. It is usually a list, and it is usually presented as a survival guide of sorts that tells consumers how to avoid getting bullied, harassed, tricked, and other nasty verbs that get linked to collectors. While having consumers remain informed about their rights and about the process is crucial, to do so with blanket assumptions about all collectors continues to hinder the conversation.

Industry News: CFPB Report Outlines Debt Collection Violations

October 30th, 2014

A recent report from the Consumer Financial Protection Bureau (CFPB) includes a focus on violations in the debt collection industry. This report serves as a reminder for creditors and for collection agencies that it is simply impossible to remain competitive at the present moment if appropriate attention is not paid to issues of compliance.

Debt Collections Trends: FDCPA, TCPA Lawsuits On The Rise

October 23rd, 2014

The September debt collections data is in, and in an entirely unsurprising development, FDCPA and TCPA lawsuits are on the rise.

The biggest takeaway from this data is the continued need to address, update, and reform the outdated law that is the TCPA.

Patrick Lunsford of InsideArm breaks down some of the highlights from Septembers' lawsuit data and information year-to-date:

Medical Collections: Report Indicates That Uninsured Still Unaware of Open Enrollment

October 22nd, 2014

In medical collections, TAG has a saying: "two equally informed people rarely disagree." When it comes to the landscape for medical facilities in the coming months, however, it is a lack of information that stands to present a significant challenge.

Debt Collections Trends: More Consumers Claim Debt Is Not Theirs

October 6th, 2014

In debt collections, the conversations between consumers and collectors must be two-way conversations. Both parties need to listen so that everybody is informed about the facts of the situation and what the process will be.

ACA President Discusses Industry Issues

August 27th, 2014

The debt collections industry has always been under the spotlight. That has not necessarily been the case for positive reasons; typically it is an extension of the fact that people still perceive this to be an industry where collectors threaten and harass consumers into paying their debts, complete with gold chains and baseball bats.

Debt Collections: Not All Collectors 'Hound' And 'Harass' People

August 13th, 2015

National media coverage of the debt collections industry is important and useful. When a writer for a publication like the Chicago Tribune pens a column dedicated to consumer education for those who have debts placed with a third-party agency, that has the potential to be a good thing.

The Problem With Trying To 'Outsmart Collectors'

August 1st, 2014

On the Money section of their web site this week, Time Magazine ran an article entitled: "9 Ways to Outsmart Debt Collectors."

The approach of the article makes sense, as the Buzzfeed culture of the internet is such that people love lists and countdowns. In that sense, all this was missing was a slideshow. Unfortunately the title of the article, the headline that is worth clicking, implies that debt collections is always combative. It suggests that it is always "you vs. them" and that there are ways to fight back and get around the issue at hand.

Report: 35 Percent of American Adults in Collections

July 30th, 2014

Here is an interesting number, one that might surprise a number of people given the negative stigma that is attached to a person being sent to collections.

According to a recent report, more than 35 percent of American adults are in collections.

Patrick Lunsford of InsideArm passes along the data from the TransUnion report:

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