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Debt Purchasing
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| First Financial Network to Sell $6 Million Loan Portfolio |
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| Oklahoma City, Okla.-based First Financial Network, Inc., (FFN), the nation's leading loan sale advisor, is pleased to announce that it will market and manage the sale of approximately $6 million in loans from Hume Bank, for which the FDIC is acting as receiver.Bliss Morris, President and CEO of FFN, said, "We are pleased to assist the FDIC with this assignment. We have proven our ability to |
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| Topic: Debt Purchasing |
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| VantageILM to Integrate Global Debt Network's Automotive Portfolio Platform |
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| VantageILM Inc. a provider of integrated lender/leasing management solutions for finance firms, banks, leasing companies and credit unions, today announced a joint partnership with Global Debt Network, Inc. to offer GDNAuto, an Internet-based marketplace where dealers and financial institutions can sell and buy portfolios of seasoned auto loans. “VantageILM’s goal is to streamline an |
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| Topic: Debt Purchasing |
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| FirstCity Unit American Business Lending Awarded SBA Preferred Lender Status |
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| Dallas-based American Business Lending, Inc. (ABL), an affiliate of FirstCity Financial Corporation (Nasdaq: FCFC), announced today that they have been awarded Preferred Lenders Program (PLP) status by the U.S. Small Business Administration (SBA). The PLP designation is the highest recognition a lender can receive from SBA, according to the Administration. To obtain preferred status, lenders mus |
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| Topic: Debt Purchasing |
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| ASK THE EXPERTS: What's Happened to the Secondary Market for Debt Portfolios? |
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| Ask the Experts is a new interactive section that will allow readers to ask direct questions to the experts at Kaulkin Ginsberg, the leading strategic advisors to the accounts receivable management industry, and parent company of insideARM. We will also feature other experts from around the industry from time to time.Thank you to one of our readers for our latest question:Question: What's happene |
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| Topic: Debt Purchasing |
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| Portfolio Recovery Reports Lower Earnings on Record Cash Collections |
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| Debt purchaser and collector Portfolio Recovery Associates (Nasdaq: PRAA) said late Tuesday that net income for the second quarter of 2008 slipped 12 percent. But the company also said that it set a new record for cash collections in the quarter. The Norfolk, Va.-based accounts receivable management firm reported net income of $11.4 million in the second quarter, down 12 percent from the $13 mil |
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| Topic: Debt Purchasing |
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| Debt Collectors in India Using Softer Touch |
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| Polite. Respectful. Mild-mannered.Those are some of the words used to describe Indian debt collection agents in a story by London-based The Times.As debts in the West soar, collection agencies are leveraging the lost cost labor of offshore environments like India and the Philippines. But some say that the Indian model calls for a more sensitive collections approach.“…Indians don't en |
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| Topic: Debt Purchasing |
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| Cabot Financial Gains Global Recognition in Contact Center Awards |
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| Cabot Financial Group, a UK market leader in debt purchase, has been named Best Contact Centre, 51-249 Agents at the Contact Centre World Awards for the Europe, Middle East and Africa (EMEA) region. The company will now go through -- with the finalists from the Americas and Asia Pacific regional awards -- to the World Final in Las Vegas in November to compete for the title of Best in World. Entr |
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| Topic: 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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