For creditors trying to recover long charged-off debts, it’s been appealing to use vendors that manage the long and complex process of managing lawyers and filing suit against debtors. Not only did outsourcing save time and hassle, it insulated the
Attention lenders: If you’re still hiring an outside firm to manage your collections litigation, you are spending money on a service that is making your operations less efficient. You’ll be able to increase recoveries while expending less effort if you
As we move into the new year, it’s clear already that 2022 will be a turning point for the entire collections industry. And that’s particularly true in the community where we are most active—the creditors, lawyers, and service providers involved
In the wake of the Hunstein case, we examine how these consumer-centric policies, laws and market conditions are causing disruption and uncertainty in the collections industry. There are three take-aways from our interview with Stephanie Eidelman, CEO of The iA
The Hunstein case is just the latest example of how consumer-centric policies, laws and market conditions are causing disruption and uncertainty in the collections industry. All these changes are designed to protect consumers and regulators are forcing creditors to be responsible for this consumer-centric movement.
Oliver is announcing a three-part webinar series that will explore this centralized, creditor-driven approach from three different perspectives; creditor, regulator, servicers.
The new rulings from CFPB will curtail some of the most widely used—and often abused—practices in collections. Keeping up with federal, state, local and, venue-specific laws, rules, and procedures is a huge cost and risk to manage, and implementing the
The Consumer Financial Protection Bureau released its final rule for the Fair Debt Collection Practices Act on October 30, 2020. The release of the rule promises to bring substantial changes in consumer debt collections practices. The rule becomes effective one
Today is an exciting day for Oliver. In an announcement this morning, Wells Fargo named Oliver one of the newest companies to join the Wells Fargo Startup Accelerator, which helps advance emerging technologies like ours that are working to create
The Collections Market is currently experiencing the first credit cycle in the CFPB era. In February 2020, according to the St. Louis Federal Reserve, consumers were expected to default on at least 2.3% of outstanding debt, costing creditors over $325B.