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Debt Collection and Recovery

Creditsafe Launches Debt Chaser and Debt Collection

Recovering debts made easy Creditsafe, the business intelligence experts, has announced that it has included two useful services for subscribers to its online platform: Debt Chaser and Debt Collection. It has developed the services in response to customer demand for additional services that can be used as part of the overall customer credit and debt management process. Creditsafe Debt Chaser ... Read More »

TransUnion Partners with Global Debt Registry

TransUnion Partners with Global Debt Registry to Offer Registry Services for Debt Buyers and Financial Institutions TransUnion and Global Debt Registry (GDR), the pioneer and leader in debt information access and validation, today announced a collaboration to market GDR debt registry services for debt buyers, collectors and financial institutions. GDR’s debt registry offering enables debt owners to accelerate collections through streamlined access ... Read More »

Bisnode Divests Credita, Switzerland

The business information company Bisnode is selling its Swiss noncore operation Credita, specialized in debt collection. The sale of Credita is part of Bisnode’s effort to streamline its business as a supplier of decision support tools based on credit, market and business information.  Credita has its office in Urdorf with 16 employees, have annual revenue of SEK 26 million with ... Read More »

CRIF Research on Debt Collection Practices

New CRIF Decision Solutions’ research on debt collection analyzes key challenges and future market perspectives. Since the outbreak of the 2008 financial crisis, debt collection management has become one of the most pressing topics for financial as well as non-financial companies. While drivers vary, from worsening credit conditions resulting in a decrease in overall collection percentages and an increase of ... Read More »

Experian UK: New Service to Ensure Fair Treatment of Those in Debt

Experian® UK announced the launch of the Experian Collections Bureau, a new service designed to ensure that customers are treated fairly and responsibly, and allowing lenders to manage individual cases of customer debt with a personalized approach. To date, most lenders only have a limited view of their customer’s overall financial situation. The Collections Bureau will allow lenders, for the ... Read More »

Cortera: Caine&Weiner Joins ‘Open Receivables’ Partner Network

Caine & Weiner Commercial Receivables Management Solutions Are Now Available Through Cortera Pulse Cortera® has welcomed Caine & Weiner, a leading commercial receivables management company, to the list of Cortera Open Receivables™ partners.  As a network partner, Caine & Weiner can now offer a co-branded version of the Cortera Pulse® monitoring tool to their customers, with a click-to-place feature that automates the placement process of ... Read More »

Debt Collection: A Kinder, Gentler Approach Tends to Be the Smartest

Contrary to popular belief, the kinder, gentler approach to debt collection usually turns out to be the smartest.  A new infographic from FICO (NYSE:FICO), shows why many collectors are replacing challenging calls with friendlier, automated contact. The FICO infographic, The Customer-Centric Collector Rises, illustrates the challenges facing debt managers today. Some 35 percent of US adults with a credit file have debt in collections. ... Read More »

RiskMa Argentina Launches New Services

In April we wrote about a RiskMa Argentina, a new startup in credit information.  The company appears to be progressing notwithstanding current precarious credit conditions in Argentina.  Recently the company announced the launch of new services: Business Credit Reports:  From the United States of America, Latin America and the Caribbean.  RiskMa work with affiliates and partners throughout America to deliver ... Read More »

Consumer Financial Protection Bureau: Honing in on Debt Collection Practices

In its Spring Rule Making agenda the Consumer Financial Protection Bureau (CFPB) is honing on debt collection practices.  The CFPB has been doing research and outreach to assess issues in various other markets for consumer financial products and services over many months.  In November 2013, the CFPB issued an advance notice of proposed rulemaking seeking comment, data, and information from the public ... Read More »

FICO in Partnership with Turkish Credit Bureau

FICO announced that it has partnered with Kredi Kayıt Bürosu (KKB), the Turkish credit bureau, to make collection scores widely available to Turkish credit grantors. These scores will promote responsible credit growth in Turkey by enabling lenders to improve their collections processes. Turkey is experiencing rapid credit growth. According to the Turkish Banking Regulation and Supervision Agency, consumer loans and ... Read More »

Cortera Partners with Mountain States Commercial Credit Management

Cortera Inc., a provider of business-to-business analytics and cloud-based risk management solutions, has welcomed Mountain States Commercial Credit Management (“Mountain States”), a leading commercial collection agency, as the latest partner to join the Cortera Open Receivables™ network. The new Cortera Open Receivables network enables providers of receivables management solutions to easily integrate with Cortera Pulse® and streamline the user experience of mutual customers. Source: ... Read More »

UK Banks Accused of Misleading Debt Collection Practices

Right on the heels of the Wonga scandal UK banks will face an investigation about sending letters which appear to be from independent lawyers or bailiffs coercing  them to pay off their debts. Three of Britain’s biggest banks – Royal Bank of Scotland, Lloyds and HSBC – have regularly sent customers letters on paper headed with the names of law ... Read More »

Cortera Partners with Andersen, Randall & Richards’ Debt Recovery Services

Cortera has welcomed Andersen, Randall & Richards, a leading commercial collection agency, as the newest partner to join the Cortera Open Receivables™ network. The new Cortera Open Receivables network enables providers of receivables management solutions to easily integrate with Cortera Pulse® and streamline the user experience of mutual customers. Source:  Cortera Press Release Read More »

FICO Upgrades Debt Manager 9.5

Helps Debt Collectors Improve Performance While Complying with Latest Regulations FICO (NYSE:FICO), a leading predictive analytics and decision management software company announced the general availability of FICO® Debt Manager™ solution 9.5, with a host of new features designed to help collectors improve productivity while ensuring they are compliant with new regulations. The solution enables collections groups to reduce operating costs, achieve score-driven increases in amounts ... Read More »

The Wonga Debt Collection Scandal Part II

The UK Law Society, which represents solicitors in England and Wales, called for an investigation by the Met Police for “dishonest activity” in sending letters from fake lawyers. The Society said the payday lender’s actions could have amounted to blackmail and deception. The City of London Police have confirmed they will re-consider opening a criminal investigation into Wonga.  Previously they ... Read More »