Vital and Worthless: How Indemnity Clauses Mean Everything and Nothing to the TCPAWorld All at the Same Time

Hi all, Chris Deatherage here, the newly-deemed Duke of the TCPAWorld. A lot of you folks know me from the industry, but don’t worry I’m not going to bore you with my background or life story. Instead, I’m going to bore you with the following disclaimer:

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Proposed Legislation Would Allow Furnishing Utility and Phone Bills to Credit Reporting Agencies

On September 26, Representative French Hill (R-AR) introduced new legislation, H.R. 8985, also known as the Credit Access and Inclusion Act of 2022, to amend the Fair Credit Reporting Act and allow payment information for utility bills and phone payments to be furnished to credit reporting agencies to help consumers raise their credit scores. This is an effort to address an issue highlighted by the CFPB Office of Research that estimated 26 million Americans are “credit invisible,” meaning they do not have a credit history with any of the three national credit reporting agencies.

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A Guide to Building a Robust Vendor Management Program in Collections

For a lot of lenders, especially newer fintechs, who have spent the last two years originating loans and lines of credit, the obvious collections strategy solution to the challenge of an influx of charged-off or delinquent accounts is to use third-party collections agencies to handle delinquent and charged-off accounts.

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Connect1 Now Powered by Debtfolio

MANASQUAN, N.J. and SAN DIEGO, Calif. -- Connect1, Business Consultants specializing in accounts receivable, technology, customer care and call center management, is proud to announce that, effective October 1,2022, all broker services will be powered by Debtfolio! The entire sales process can now be managed from start to finish with powerful software that creates consistent and easy file mapping, an audited and controlled bidding process, document retention and retrieval, chain of title, and de-duplication processes all in one platform.

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Multiple Settlement Offers in One Letter are not Misleading

Providing a consumer multiple settlement options in one letter is not misleading or deceptive- even where one offer is featured more prominently than the other. Further, according to New Jersey District Court Judge Esther Salas, when reviewing multiple offers, the “least sophisticated debtor is expected to perform simple math.”

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Spring Oaks Hires Mike Ohmsen as Call Center Department Manager

Chesapeake, VA. -- Spring Oaks Capital, LLC has hired Mike Ohmsen as Department Manager. Mike will report to Director of Operations, Tim Rees.

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Breaking Down the CFPB's Opinion on Convenience Fees

27 October 2022 at 02:00 p.m.

After the CFPB’s advisory opinion about pay-to-play and junk fees in collections, many agencies find themselves asking: is our payment model compliant? 

The advisory opinion didn’t change much, except to bolster the need for agencies to use a payment processor who uses a compliant model, do their legal due diligence and compliance research, and who will continue to review relevant updates and case law to ensure their model is sound.

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