Debt Buying

Michael Bernstein, the owner of MEB Finance Solutions and one of the founders of CMAX Finance, and Flock Specialty Finance have formed a partnership to help finance debt buyers and their purchases of portfolios. This year has already been a good one for Flock. Originations are up 140% over last year’s …

PRA Group has announced plans to open two call centers – one in North Carolina and one in Nevada – which will employe more than 800 staffers once fully operational. The North Carolina call center, which will be in Burlington, N.C., has a capacity for 500 employees, according to a …

For the first time, the ARM industry has a defined process when buying and selling judgments. The Receivables Management Association last month released an update to its Receivables Management Certification Program (RMCP) that covers the sale of assets secured by a judgment. A copy of the RMCP is available here. …

In debt-buying, as in clothes shopping, one size does not fit all. Realizing that it was leaving a portion of the debt buying market uncovered, Flock Finance last month launched a new product which is aimed at smaller portfolio purchases. The new product offers a new funding and profit-sharing structure …

The Maine State legislature has enacted new legislation that enhances consumer protections but does so in a way that the measures can be “operationalized by the receivables management industry,” the Receivables Management Association — formerly known as DBA International — said in a press release. Under the terms of the …

EDITOR’S NOTE: The following is an article brought to you by Bayview Solutions, LLC, a company that specializes in working with debt buyers and sellers. Learn more about Bayview at www.bvs-llc.net. If the debt-buying world was a sports movie, the musical montage would be crescendoing and the industry would be …

The Colorado legislature is considering a bill that would extend that state’s Fair Debt Collection Practices Act for another 11 years, avoiding the expiration of the law, which is set to occur on July 1, 2017. A hearing on the proposed legislation has been scheduled for next Monday, April 3. …

The following is an article brought to you by Bayview Risk Management Capital, a company that specializes in working with debt buyers and sellers. Learn more about Bayview at www.bvs-llc.net.  All eyes in the collections industry are glued to the next five days on the calendar. But what about the …

The courts have provided yet another reason why debt buyers should require account-level documentation for every portfolio they purchase. The 11th Circuit Court of Appeals last week reversed a summary judgment ruling in favor of a debt buyer related to how a debt is verified when it is disputed by …