Daily Digest – January 5. Industry Experts Share Their Expectations for 2021; Where Location Information Calls Go Awry

INDUSTRY EXPERTS SHARE WHAT THEY THINK WILL HAVE THE BIGGEST IMPACT ON THE ARM INDUSTRY IN 2021

  • A year ago, nobody would have predicted that a virus would be what impacted the world — and the ARM industry — more than anything else. What will shape our industry in 2021? Maybe it will be something we expect, maybe it won’t. AccountsRecovery.net asked nine members of the ARM industry — Mike Frost, Larry Parks, Lauren Valenzuela, Rick Bonitzer, Chris Dunkum, Michael Klutho, Don Maurice, Garret Angelo, and Ray Pelosowhat they think will have the biggest impact in 2021. Here is what they said.

BEDARD SHARES WHERE LOCATION INFORMATION CALLS MOST OFTEN GO AWRY IN LATEST DEBT COLLECTION RULE VIDEO

  • While not all of the details and provisions of the Consumer Financial Protection Bureau’s debt collection rule are new, that does not mean that regulations which have been on the books for years — but are still included in the rule — should be overlooked, especially since there are important opportunities for refresher lessons, noted John Bedard of Bedard Law Group in the latest episode of “You Wanted a Rule, You Got a Rule.” In this episode, John continues his analysis of Section 1006.6, Communication in connection with debt collection and notes that there are times when collectors do not stick to the script, which could land them — and their agency — in legal trouble.

AUDITOR CALLS OUT IRS FOR ALLOWING AGENCIES TO RECEIVE COMMISSIONS ON UNSTRUCTURED PAYMENTS

  • The Internal Revenue Service has rejected a recommendation from an auditor that recommended the private collection agencies stop being paid commissions when accepting payments outside of formal payment arrangements, saying that it believes it is complying with the law by allowing the agencies to do so.

46 HOSPITALS SUE HHS SECRETARY TO REVERSE BAD DEBT POLICY

  • A group of 46 hospitals have filed suit against Alex Azar, the Secretary for the Department of Health and Human Services, seeking the reversal of a policy that has kept hospitals from receiving $1.4 million in bad debt payments.

ORION CAPITAL SOLUTIONS DONATES HOLIDAY GIFTS TO LOCAL FAMILIES

  • Orion Capital Solutions is donating Christmas gifts through Watermark Wesleyan Church in support of local families in need throughout our community. The team at our receivables management firm is committed to helping bring these families some additional joy as we celebrate the holiday season.

WORTH NOTING: Another reason not to like inflatable costumes … The three things that should be at the top of your list of New Year’s resolutions … How finding a job will be different in 2021 … How going to the gym will be different in 2021 … Owning a home is affordable in only 41% of the counties across the United States … A lot of eyes are going to be on Georgia today … The best coffee makers for a good cup of joe at home … Today is National Whipped Cream Day.

It’s the end of an era this week

TV moments that got us through 2020

The Daily Digest is sponsored by Prodigal. Prodigal is bringing the power of AI and machine learning to lenders, creditors and collection agencies. Prodigal’s world class speech recognition software, monitors every call for compliance and collector performance with its AI trained for optimal accuracy and actionable results. Prodigal unlocks hidden value in a collection contact centre’s vast corpus of unstructured audio data by making it searchable and enabling them to improve compliance, increase operational efficiency and win new clients.

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