Everything We Know About BNPL Borrowers

We’re beginning to get a clearer picture of Buy Now, Pay Later borrowers. While it has been long speculated that BNPL borrowers chose to use that option because of a lack of credit, the CFPB released a report based on data from their 2022 Making Ends Meet Survey which makes it clear that BNPL borrowers do have access to other credit, and they are using it. In fact, BNPL borrowers are more likely to “actively use other credit products” than consumers who don’t use BNPL loans. According to their analysis, 95% of BNPL borrowers “had at least one credit record in another account, compared to 86% of non-borrowers.”

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Eagle Accounts Group, Inc. sees Unparallel Scale and 168% Boost in Agent Productivity with Skit.ai

NEW YORK, N.Y. -- Skit.ai, the leading Conversational Voice AI solution provider in the Account Receivable Management (ARM) industry, revealed the success of its partnership with Eagle Accounts Group, Inc. an Indianapolis-based business specializing in debt collection services since 1972. Skit.ai's compliant, configurable and easy-to-deploy Voice AI solution was strategically deployed to automate Eagle Accounts Group's collection efforts, enabling  them to scale drastically, increasing connectivity, performance, while reducing collection cost.

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Sixth Circuit Affirms Dismissal of FDCPA Suit Arising From Pandemic-Time In Person Service of Process

The Sixth Circuit recently affirmed a district court’s dismissal of a Fair Debt Collection Practices Act (FDCPA) and Michigan Regulation of Collection Practices Act (RCPA) suit, holding that the plaintiff lacked standing. The litigation, Van Vleck v. Leikin, Ingber, & Winters, P.C., arose from the defendant law firm’s service of process on the plaintiff in a different lawsuit.

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The Cascade365 Family of Companies Announces Mary Sand as Director of Client Services

PETALUMA, Calif. -- The Cascade365 Family of Companies is excited to announce that Mary Sand has joined the team as Director of Client Services.

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Montana Enacts Comprehensive Consumer Data Privacy Law

Montana Gov. Greg Gianforte on May 19 signed into law Senate Bill 384, the Montana Consumer Data Privacy Act, making Montana the ninth state to enact a comprehensive consumer data privacy law, following California, Virginia, Colorado, Utah, Connecticut, Iowa, Indiana, and Tennessee. The law will take effect Oct. 1, 2024.

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Why Can’t Courts Agree to The Definition Of Debt Collector?

It’s been 46 years since “debt collector” was defined in the federal Fair Debt Collection Practices FDCPA (FDCPA) so why do courts still disagree with its meaning?  One reason may be that the FDCPA was enacted prior to the maturation of the consumer debt buyer industry, leaving the FDCPA’s legislative history void of any discussion regarding whether a buyer of consumer debt is a ‘debt collector.’ Courts have been filling in the gap; however, the lack of consistency in their decisions continues to burden litigants and the court system.

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How the Call Center Has to Evolve

29 June 2023 at 02:00 p.m.

Regulation F drove collections companies to integrate text messages and emails into their collections strategies. But even with the addition of those outbound strategies, there will always be consumers who prefer using telephone calls to communicate about their debt, and the collections call center has had to adjust to become more efficient in collecting via telephone.

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