Daily Digest - December 10, 2024

New Training Bytes Video Released!

Check out the newest Training Bytes video! Each week, an expert from the accounts receivable management industry will share how he or she would handle different scenarios that collectors often face. This week, Larry Baker from RGS Financial shares the best way to teach a collector to be confident when communicating with consumers.

Thanks to Peak Revenue Learning for sponsoring this series!

A Shameless Plug for ARMTech

As you start your holiday shopping, consider buying the best present you can get yourself and sign up to attend ARMTech. I guarantee you will walk out of the event not only with great ideas, but also a ton of new contacts. There are so many innovators and disruptors who don’t show up to other industry conferences because ARMTech is the industry’s only event exclusively dedicated to talking technology — and that is where all the innovation and disruption is happening. Don’t miss out. Sign up today!

Don’t forget to check out what’s on the AccountsRecovery streaming channel. It’s a great way to catch webinars you may have missed!

Plaintiff Seeks $30k in FDCPA Suit

• A plaintiff has filed a lawsuit against a collection operation, accusing it of violating the Fair Debt Collection Practices Act by failing to properly validate a debt and contacting him at inconvenient times, and is seeking the discharge of the debt was well as $30,000 in actual and statutory damages.

• More details here.

• This series is sponsored by WebRecon

A MESSAGE FROM TCN

TODAY’S WEBINAR

UPCOMING WEBINARS

Collector Settles Data Breach Lawsuit for $5.6 Million

• A District Court judge in Washington has given final approval to a $5.6 million settlement in a data breach lawsuit against Receivables Performance Management, a Washington-based collection agency, which compromised the personal information of over 3.7 million individuals. The breach, which occurred in April 2021, involved a ransomware attack on the company’s servers.

• More details here.

Performant Recovery Penalized $700,000 for Delayed Loan Relief Scheme

• The Consumer Financial Protection Bureau yesterday announced an enforcement action against Performant Recovery, Inc., a debt collection agency accused of delaying student loan rehabilitations to increase fees. Performant’s practices, which cost individual borrowers thousands of dollars, have resulted in a $700,000 penalty and a ban on the company from servicing or collecting any student loan debt.

• More details here. 

New ARMSights poll, sponsored by Belvista

Older Americans Struggle with Medical Debt Amid High Out-of-Pocket Costs

• Even with near-universal Medicare coverage, older adults in the U.S. face substantial financial barriers to accessing necessary medical care. A new Commonwealth Fund survey highlights the growing strain of medical debt on this demographic, with implications for health outcomes and debt collection trends.

• More details here.

InDebted Announces Acquisition of Receeve to Transform Enterprise Collections Market

• InDebted, the global partner in collections solutions for future-thinking organizations, today announced the acquisition of Receeve, a leading collections decisioning software provider.

• More details here.

WORTH NOTING: The best Lego sets for kids ... Vehicles with taller front ends are, perhaps not surprisingly, more dangerous for pedestrians ... What those mysterious sounds means when you are flying on a plane ... How artificial intelligence can help boost detection of breast cancer ... More Americans are planning on giving out holiday tips this year, but the amounts are the same as last year ... A survey of the credit card landscape ... Would it surprise you to know that researchers have concluded our knowledge of knots is not good? ... In hindsight, there was probably a better way to deal with this situation.

Trailer Tuesday, part I

Trailer Tuesday, Part II