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Debt Purchasing
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| US House Passes Gramm-Leach-Bliley Relief for Debt Buyers |
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| The U.S. House of Representatives late Monday passed by voice vote a bill that contains language eliminating a debt purchaser’s obligation to send annual consumer privacy notices under the Gramm-Leach-Bliley Act. Passage of the bill represents a long battle to remove the superfluous requirement of forcing debt buyers to inform consumers that the personal information they collect will be sa |
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| Topic: Debt Purchasing |
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| LifePoint Wary Economy Could Push Up Bad Debt |
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| Unpaid medical debt at LifePoint Hospitals (Nasdaq: LPNT) in the first quarter was less what its leaders expected, due to fewer self-pay admissions. But executives are concerned a soft economy could push bad debt expense up and pressure the hospital’s financial results in the latter half of the year. The Brentwood, Tenn.-based rural hospital operator set aside $82.7 million, or 11.8 perce |
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| Topic: Debt Purchasing |
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| Debt Buyers Make Their Presence Known on Capitol Hill |
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| Editor's Note: DBA International provided the following update to insideARM concerning the group's lobbying and legislative activities on behalf of its membership. Unlike traditional debt collectors, debt buyers comprise a smaller, but significant, segment of the debt industry. DBA International (DBA) is devoting both time and money to make sure that Capitol Hill understands the needs of debt |
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| Topic: Debt Purchasing |
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| Canadian Debt Buyers Association Holds First Meeting, Elects Officers |
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| The first Board of Directors and Annual General Meeting for the Canadian Debt Buyers Association (CDBA) were held in Burlington, Ontario on May 29th at the offices of Canadian Tire Bank.The founding objectives of the CDBA are as follows:Be the voice of the industryEnsure best practiceOffer expertise and guidanceFacilitate meetings and exchange of ideasRepresentatives from organizations involved i |
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| Topic: Debt Purchasing |
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| Asta Funding, Inc. to Report Third Quarter 2009 Results |
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| ENGLEWOOD CLIFFS, N.J. -- Asta Funding, Inc., a consumer receivable asset management and liquidation firm, will report its financial results for the third quarter ended June 30, 2009 on Tuesday, August 4, 2009.Asta Funding, Inc.'s senior executives will hold a conference call for investors on Tuesday, August 4, 2009, at 2:00pm EDT to discuss the company's financial results.About Asta FundingBased |
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| Topic: Debt Purchasing |
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| Portfolio Recovery Posts Rise in Revenue, Income and Collections in Q2 |
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| Debt buying giant Portfolio Recovery Associates (Nasdaq: PRAA) last Wednesday announced financial for the second quarter of 2009 marked by increases in cash collections, revenue and net income.Norfolk, Va.-based Portfolio Recovery Associates, Inc. (PRA) said that net income for the April-June quarter was $11.7 million -- or $0.76 per share –- up 3 percent from the same period in 2008.Analyst |
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| Topic: Debt Purchasing |
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| Credit Account Management Launches Online Client Reporting Suite |
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| Weybridge, UK – Panel and asset management company, Credit Account Management (CAM) has launched its new, online client reporting suite.Commenting on this new development, CAM Operations Director, Christian Jacob said, “We have invested a great deal of time and effort into delivering this new information portal for the benefit of our clients. It enables authorised users to create |
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| Topic: Debt Purchasing |
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| Creative Financing for Debt Buyers |
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| I just returned from the DBA Executive Retreat, where I participated in a panel discussion regarding creative ways in which debt purchasing companies can access debt and equity financing to purchase portfolios. Here are some common themes that were discussed regarding the best types of financing and how to go about accessing it:Financing options are not the same for everyone– Small and/or fi |
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| Topic: Debt Purchasing |
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| ARM Firms Still Dealing With Weak Performance: Survey |
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| Collection agencies, debt buyers and collection law firms are still experiencing lower than average performance in the year-and-a-half old recession, according to early responses to insideARM’s quarterly Credit & Debt Collection Industry Confidence Survey, sponsored by LiveVox.The current survey, for Summer 2009, is still open. If you haven’t participated yet, please take a couple |
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| Topic: Debt Purchasing |
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| Debt Portfolio Registration Services Fill an Operational and Regulatory Gap |
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| Recent regulatory and legislative moves on the federal level have prompted the debt purchasing industry to once again explore the concept of a centralized registration platform for portfolios. And an increase in consumer validation attempts has made the system attractive for the shops collecting on the debt. For years, the debt portfolio ownership chain has gotten more complex. In the past, i |
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| Topic: Debt Purchasing |
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