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IRS ONE STEP CLOSER TO OUTSOURCING COLLECTIONS
- Congress has moved a step closer to resurrecting a program that would allow the Internal Revenue Service to hire outside debt collectors to recover unpaid taxes. The proposal is part of a $300 billion bill that would fund highway and mass-transit improvements. Rep. Paul Ryan, the Speaker of the House, has vowed to have the House of Representatives would take up the bill this week, with the Senate following suit next week.
SOUTH DAKOTA LOOKING FOR COLLECTION AGENCIES
- The state of South Dakota has officially started the process of creating an “Obligation Recovery Center” which will collect on debts owed to state agencies. The state has contracted with a company to help build the infrastructure and will soon be looking for third-party collection agencies to help in the recovery process.
COLLECTOR SHARES STRATEGY
- A woman has started up a business collecting on unpaid invoices for freelancers. She is charging $49, plus a 15% fee on whatever is recovered. Her approach is to make six contacts in a seven-day period for two weeks, to ensure that the delinquent payer knows that she is not going to go away.
WORTH NOTING: Could the CFPB’s attempts to reform the auto lending industry be the agency’s undoing? … Ford Credit has a new COO … The car industry had its best November ever … Ford is investing $1.3 billion and hiring 2,000 new employees at its truck plant in Louisville … Federal Reserve Chair Janet Yellen has two high-profile speeches this week and could cement the likelihood that the Fed will start raising interest rates later this month, as has been predicted for most of 2015 … Facebook founder Mark Zuckerberg is giving away 99% of his fortune to charity … Black Friday wasn’t just about buying gadgets; there were a record 185,000 background checks for gun buyers … Volkswagen sales are tanking in the wake of its diesel emission scandal … How to be calm under pressure … The key to making deadlines work … Free things to ask for the next time you check into a hotel … Debt levels are causing the death of the middle class … There is a shortage of Christmas trees.
Underemployment rate for college graduates drops
The true effects of sleeplessness
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