Daily Digest – May 15. Site Calls Out Debt Collectors, ACA International; Relationship Between Unemployment & Delinquencies Now Over

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POLITICAL SITE CALLS OUT DEBT COLLECTORS AS CORRUPT, LABELS ACA INTERNATIONAL AS ‘APOLOGIST’ FOR ‘OUT-OF-CONTROL’ INDUSTRY

• Sometimes when you’re scouring the Internet for news about the collections industry, you can find yourself in some pretty dark corners. One of those dark corners published an article about debt collections this weekend, using a lack of context and the actions of a few bad actors to paint an entire industry as “corrupt, immoral, and unscrupulous.” The article makes the claim that debt collection abuse is “rampant” during the Trump era, but my favorite part is this section: “third-party collectors violate the FDCPA so often and so blatantly that they are a drain on the economy. While the industry’s trade association, ACA International, will claim it opposes FDCPA violations, the reality is that ACA International is an apologist for an abusive, corrupt, out-of-control industry.” I can’t wait for ACA’s rebuttal.

RELATIONSHIP BETWEEN UNEMPLOYMENT RATE, DELINQUENCIES SMASHED 

• The unemployment rate and auto loan delinquency rates have broken up their relationship and apparently are no longer speaking to one another. Historically, low unemployment rates — like we have currently — have meant lower delinquency rates, but that is not the case any more. Looser underwriting criteria for approving loans and weaker used car values are the reasons that the two are no longer speaking to one another.

HOW HEALTHCARE ORGANIZATIONS ARE MAXIMIZING REVENUE CYCLE MANAGEMENT

• A look at how four different healthcare organizations are looking to maximize their Revenue Cycle Management functions, including increasing cash collections and making sure patients understand the costs of procedures before signing up for them. Healthcare organizations continue to look at automating as much of the RCM and collections process as possible to keep costs down and maximize efficiency.

SOUTH DAKOTA STATE COLLECTION AGENCY NOW UP AND RUNNING

• An overview of the progress that has been made in South Dakota, which opened a collection center for all state agencies. In partnership with CGI Technologies, the state has collected $1.25 million of the $176 million it is owed. CGI gets to keep 20% of whatever is collected.

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The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.