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View this article at ACA International.
ACA International, the association of credit and collection professionals whose membership includes third-party debt collectors, asset buyers and collection attorneys, offers helpful resources for active United States military personnel.
“We sincerely appreciate the sacrifices and service of the courageous men and women of our military who have and continue to put their lives on the line to protect our country and the freedoms we enjoy,” said ACA International CEO Pat Morris. “The Servicemembers Civil Relief Act (SCRA) is important in that it grants special privileges regarding debt and debt collection so soldiers can focus on the immediate task at hand during active duty.”
The SCRA allows certain active military personnel and, in a few cases, nonservice members, to suspend or postpone certain civil obligations as to not worry about financial concerns at home. A lender, creditor or insurer is prohibited by law from taking any adverse actions against military personnel because they exercised their rights under SCRA. Other important areas covered under the SCRA include:
- Default judgments
- Stay of proceedings
- Statutes of limitations
- Cap on interest rates
- Eviction proceedings
- Installment contract for property purchase
- Mortgages
- Terminating home or vehicle leases
The SCRA can only be exercised while engaged in active duty, including full-time training; annual training duty; and attendance at a service school while in active military service. Generally, the SCRA applies only to obligations and liabilities incurred prior to entering active duty and typically not those incurred during active duty.
For more information about the SCRA and rights of military personnel when it comes to debt collection, visit www.AskDoctorDebt.org, a free and valuable consumer-focused financial literacy resource. Available in both English and Spanish, visitors are not asked to register, provide any personal information or required to pay for use.
“The effective management of credit and accounts receivable is important to the national and state economies,” said Morris. “Third-party collectors provide an essential service and are actively engaged in their local communities as employers, volunteers, philanthropists and taxpayers.”
ACA International is the comprehensive, knowledge–based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members and their employees in the US and abroad, including third–party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA International establishes ethical standards, produces a wide variety of products, services and publications, and articulates the value of the credit and collection industry to businesses, policymakers and consumers. For more information about ACA International, visit www.acainternational.org.
View this article at ACA International.
ACA will host its annual Spring Forum & Expo in Las Vegas at the Red Rock Casino, Resort & Spa, March 21-23, 2012, where over 300 credit and collection professionals will attend more than 10 ACA seminars and a session track devoted solely to health care collection topics.
“It's a great opportunity to meet up with new and old friends and hear industry leaders discuss industry challenges,” said Jim Christensen, CEO, Array Services Group.
This year's health care topics feature hot button issues such as the upsurge of HIPAA compliance problems in 2011, impact of hospital mergers and acquisitions, impact of health care reform, litigation trends and updates from several health care providers.
Attendees can also work toward a number of Campus ACA designations at the meeting, including the Credit & Collection Compliance Officer Designation which can be completed entirely on site.
“I'm looking forward to sharing ideas and brainstorming with my peers,” said Pam Kirchner, chief executive officer, BCA Financial Services Inc. “The agenda covers a wide range of topics crucial to the success of any organization. I always walk away with at least one great idea!”
During the event, attendees will get the chance to network with more than 30 of ACA's affiliate vendor members, who offer products and services catered to the industry.
Support financial literacy education by attending the 2012 “Ask Doctor Debt” Golf Tournament on Wednesday, March 21, at the Angel Park Golf Club. Purchasing this optional, special event will cover green fees, cart fees and meals.
Need to register for ACA International's Spring Forum, March 21-23, 2012?
Register online at www.acainternational.org/springforum or contact
Rosa Garza at garza@acainternational.org / (952) 928-8000 ext. 138
ACA room rate available for those who book their room before Feb. 28, 2012.
Discounts are available for individuals who register for Spring Forum before March 2, 2012.
ACA International, the Association of Credit and Collection Professionals, is the comprehensive, knowledge–based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members worldwide, including third–party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA International establishes ethical standards, produces a wide variety of products, services and publications, and articulates the value of the credit and collection industry to businesses, policymakers and consumers. For more information about ACA International, visit http://www.acainternational.org.
View this article at ACA International.
Dear Editor,
As reported in the Wall Street Journal recently (“U.S. Gets Tougher on Debt Collecting”), the Federal Trade Commission issued a consent decree outlining, among other things, acceptable actions in the collection of debt in which the applicable state statute of limitations has expired.
In the United States, there is no universally defined statute of limitations on consumer debt in that it varies from state to state. Once a state statute of limitations has expired, with the exception of Wisconsin and Mississippi, the debt does not go away and attempts to collect may occur subject to state and federal laws.
ACA International and its members strongly support financial literacy and consumer education initiatives. We believe in a consumer's right to respect and fair treatment and welcome the opportunity to work cooperatively with the FTC on activities related to these initiatives. For more information on consumer rights in debt collection, please visit www.askdoctordebt.org.
ACA International is proud of its members' significant contributions to our national and state economies. We look forward to working with the FTC, Consumer Financial Protection Bureau and the states to create a system with balance between the important positive impacts of our industry and consumer protection.
Sincerely,
Pat Morris
CEO, ACA International
View this article at ACA International.
Third-party debt collection has an important impact on America's national, state and local economies, according to a new study by ACA International and global advisory firm Ernst and Young (www.acainternational.org/impact) based on 2010 data.
“These findings reinforce the critical role the third-party debt collection industry plays as a service provider in recovering unpaid consumer debt on behalf of the public, private and non-profit sectors,” said ACA International CEO Pat Morris. “Moreover, third-party collectors are actively engaged in their local communities as employers, volunteers, philanthropists and taxpayers.”
Key national findings of this landmark survey include:
- Recovering Assets: A total of $55 billion was recovered on behalf of creditor clients. The collection of consumer debt also provides a valuable benefit to American households. Based on a net of $44.6 billion recovered, third-party debt collection efforts represent $396 in savings on average per household by keeping the costs of goods and services lower.
- Job Creation: Third-party collection agencies directly employed 148,272 people with a payroll of $5 billion. Indirectly, the industry influenced creation of more than 300,000 jobs with a payroll of $10 billion.
- Paying Taxes: Third-party collection agencies and their employees paid $495 million in federal taxes, and $509 million in state and local taxes. The ancillary impact of the industry generated a total $970 million in federal taxes paid and $1 billion in state and local taxes.
- Giving Back: Third-party collection agencies and their employees contributed $85.2 million and volunteered 652,000 hours to charitable community causes.
“Our nation was built on the premise that those who provide credit, goods and services to consumers have the expectation of being repaid,” said ACA International President Mark Neeb. “Recovering these debts helps organizations survive; prevents layoffs; keeps cost down and credit, goods and services available; and reduces the need for tax increases to cover government budget shortfalls.”
To review the complete ACA / Ernst and Young report, “The Impact of Third-Party Debt Collection to the National and State Economies,” please visit www.acainternational.org/impact.
View this article at ACA International.
MINNEAPOLIS (December 5, 2011) – Holiday season can be stressful for consumers, especially if the prospect of buying gifts will add to an already burdensome debt load.
ACA International offers the following personal finance tips for consumers this holiday season. “Careful planning and active communication are important tools to effectively managing personal finances, particularly if a consumer is struggling to make payments on their current debt obligations or being contacted by a debt collector,” said ACA Chief Executive Officer Patrick Morris.
- Plan and Budget: Holiday gift giving doesn't need to break the bank; after all, it's the thought that counts. Determine what you can reasonably afford, create a budget and plan for gifts, and stick to it. Keep in mind that purchases on credit will need to be repaid at some point in the future.
- Track your Spending: Keep tabs on how much you spend to help stay within the guidelines of your “holiday budget.”
- Protect your Identity: Be careful about giving personal information including a credit or debit card number over the phone and online. Monitor your accounts and immediately report any suspicious or unauthorized purchases to your bank or credit card company. Consumers should monitor their credit and are entitled to a free credit report each year at www.annualcreditreport.com. If you believe your identity has been stolen, contact your local police department.
- Communicate with Creditors: Having trouble making payments on an existing debt? Contact the creditor to discuss alternative payment arrangements. It won't eliminate your debt but it can make things more manageable. Communication is particularly important if you are behind in payments to a creditor (e.g., credit card, loan, mortgage, medical) to avoid having the debt appear on credit reports.
- Communicate with the Debt Collector: In the event you hear from a debt collector, avoiding a letter or call won't make the debt disappear. The reason for the contact cannot be resolved without the ability to communicate; whether it's to pay an owed debt, verify an alleged debt or confirm that the debt collector has reached the wrong person.
- Consumers have Rights: Consumers deserve to be treated respectfully and have rights under federal and state law. For more information about consumer rights in debt collection or to ask questions, visit www.askdoctordebt.org. Created by the ACA International Education Foundation, It's a free resource that does not require a log-in or sharing of personal information and is available in English and Spanish.
Additional consumer resources are available from State Attorneys General, the Federal Trade Commission, the Consumer Financial Protection Bureau and Jump$tart.
ACA International, the Association of Credit and Collection Professionals, is the comprehensive, knowledge-based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members in the United States and abroad, and their more than 150,000 employees, including third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA establishes a wide variety of products, services and publications. For more information about ACA International, visit www.acainternational.org.
For more information contact Mark Schiffman at (952) 259-2124 or schiffman@acainternational.org
View this article at ACA International.
MINNEAPOLIS – (September 22, 2011) ACA International, the association of credit and collection professionals, proudly supports today's introduction of the Mobile Informational Call Act of 2011, and the leadership of its authors, Congressmen Lee Terry (R-NE) and Edolphus Towns (D-NY).
“Modernization of the Telephone Consumer Protection Act (TCPA) is among the top priorities for ACA members,” said ACA International Chief Executive Officer Patrick J. Morris. “Given the explosive growth in consumer reliance on mobile devices as a preferred means for communication, this legislation will enact limited, common-sense revisions to facilitate the delivery of time-sensitive consumer information, while continuing to protect wireless consumers from unwanted telemarketing calls.”
In supporting the Mobile Informational Call Act of 2011, ACA joins a broad coalition of industries that rely on assistive technologies to convey timely and important information to notify consumers about threats such as data breaches and fraud alerts; provide timely notice of flight and service appointment cancellations and drug recalls; and protect consumers against the adverse consequences of failure to make timely payments on an account. In addition to ACA, coalition partners include:
- American Bankers Association
- U.S. Chamber of Commerce
- Community Bankers Association
- Air Transport Association
- Student Loan Servicing Alliance Private Loan Committee
- National Council of Higher Education Loan Programs
- National Association of College and University Business Officers (NACUBO)
- Education Finance Council
- Mortgage Bankers Association
- Edison Electric Institute
- Housing Policy Council
- Financial Services Roundtable
The Mobile Informational Call Act of 2011 will modernize the TCPA by exempting informational calls to wireless phones from auto-dialer restrictions; clarify the “prior express consent” requirement; and continue the prohibition against the use of assistive technologies to call wireless numbers for telemarketing purposes.
“A strong consumer-protection environment depends on appropriate communication between businesses and their customers,” said ACA International Director of Federal Government Affairs Adam Peterman. “This landmark legislation will update TCPA's outdated restrictions, while preserving its original intent to protect wireless consumers from unwanted telemarketing calls.”
ACA International is the comprehensive, knowledge-based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members in the United States and abroad, and their more than 150,000 employees, including third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA establishes a wide variety of products, services and publications. For more information on ACA International, visit www.acainternational.org.
For more information contact: Mark Schiffman, PR Director at (952) 259-2124 or schiffman@acainternational.org
View this article at ACA International.
MINNEAPOLIS - With millions of students from kindergarten to college heading back to school, adding financial literacy to your child's curriculum this fall can teach invaluable skills for today and in the future.
“It's never too soon or too late to talk with your kids about personal finances,” said Chris Wunder, chair of the ACA International Education Foundation Board of Directors.
As outlined in USA Today's special supplement on youth financial literacy, teaching children about saving, credit, debt, budgeting and discipline in managing their own finances is essential to growth and development. “From the very basic to the complex, parental involvement in helping their children better understand how to value and manage money is essential to helping them make successful financial decisions as they grow older,” said Wunder.
Helpful tips for talking to your children about financial management:
- Be a role model. Parents, siblings and grandparents are important role models for teaching financial management to children. Lead by example.
- Be honest. Building and maintaining trust with your child is essential. Admit mistakes and share how you learned from them.
- Be interactive. Effective teaching is a two-way street. Talking and listening with real life examples is important.
- Be patient. Some children may not immediately grasp the concepts you are teaching, but don't give up on your teaching efforts.
- Start with an allowance. For children, an allowance provides hands-on lessons in saving, spending, credit and budgeting.
ACA International Education Foundation is a 501(c) (3) nonprofit organization serving as the philanthropic arm of ACA International, the association of credit and collection professionals. The Foundation exists to promote the goal of increasing financial literacy in the United States. Outreach efforts include www.askdoctordebt.com, which offers free, reliable answers to consumer questions and provides helpful resources.
ACA International is the comprehensive, knowledge-based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members in the United States and abroad, and their more than 150,000 employees, including third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA establishes a wide variety of products, services and publications. For more information on ACA International, visit www.acainternational.org.
For More information contact Mark Schiffman at (952) 259-2124 or schiffman@acainternational.org
View this article at ACA International.
ACA International Education Foundation is pleased to participate in USA Today's special supplement dedicated to youth financial literacy, which is aimed at parents. The Foundation is taking its inaugural leap into paid promotion of www.askdoctordebt.com to broaden the reach of this valuable resource among consumers.
The youth financial literacy supplement will only be included with USA Today's distribution in the following select markets (Washington/Baltimore, New York, Chicago and Philadelphia), representing 458,446 copies with a readership estimate of 1 million consumers.
ACA Foundation exists solely because of the generosity of ACA International members. The promotion of Ask Doctor Debt and the Loomer-Mortenson Scholarship wouldn't happen without your support.
Please, take a moment to get be an active part of the Foundation's important industry reputation initiatives. For more information on the Foundation or to make a tax-deductible contribution, visit www.acainternational.org/foundation.
View this article at ACA International.
ACA International's PPMS Certification Program
Celebrates 10 Years
MINNEAPOLIS (Aug. 23, 2011) – ACA International is pleased to announce the 10th anniversary of its Foundational Training on the Professional Practices Management System (PPMS), which offers members another valuable tool in quality assurance. Obtaining PPMS certification demonstrates an agency's commitment to compliance and the highest standard of operations.
“ACA's PPMS program was tailored to my company's specific needs,” said Tom Haag, chief executive officer of State Collection Service in Madison, Wisc., whose company received PPMS certification in 2001. “Over the past decade we've seen firsthand that PPMS greatly reduced the number of mistakes and has helped our employees work more efficiently.”
PPMS is a management system for collection agencies based upon developing, implementing and adhering to a set of industry-specific professional practices and policies to guide operations. Created in 2000 with extensive involvement by ACA members, the original program included 17 basic elements to help agencies standardize how they are managed and run. In 2008, ACA enhanced PPMS by adding an 18th element, which deals with physical and data security. Currently, there are 59 PPMS certified ACA members.
“Maintaining PPMS certified status requires an annual commitment by each company to document that they are continually meeting program standards,” said ACA International Chief Executive Officer Patrick J. Morris. “We applaud the program pioneers who are celebrating a decade of excellence and all of the organizations that have followed in their footsteps as standard bearers for high quality.”
- Williams & Fudge Inc. (03/03/01)
Rock Hill, S.C.
www.wfcorp.com
- State Collection Service, Inc. (07/07/01)
Madison, Wis.
www.statecollectionservice.com
Fairport, N.Y.
www.conserve-arm.com
- AMCOL Systems Inc. (12/04/01)
Columbia, S.C.
www.amcolsystems.com
To find how your agency can work toward PPMS certification, e-mail ppms@acainternational.org or call (952) 928-8000.
ACA International is the comprehensive, knowledge-based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members in the United States and abroad, and their more than 150,000 employees, including third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA establishes a wide variety of products, services and publications. For more information on ACA International, visit www.acainternational.org.
Contact: Sara Bobrowski, PPMS Coordinator
Tel. (952) 928-8000, or ppms@acainternational.org
View this article at ACA International.
MINNEAPOLIS – (July 26, 2011) ACA International, the association of credit and collection professionals, supports the Federal Trade Commission's recently finalized policy statement bringing clarity to the complexities of collecting on a decedent's debt.
“The FTC's policy recognizes the challenges with estate administration and provides much needed clarity on how collectors may communicate with people to find those authorized to settle outstanding debts from a decedent's estate,” said ACA International Chief Executive Officer Patrick J. Morris.
The FTC's policy statement clarifies the 1977 Fair Debt Collection Practices Act (FDCPA), which determines whom debt collectors may contact after a relative has died such as the deceased person's spouse and the executor or administrator of the deceased person's estate. “The FTC showed great wisdom in updating the FDCPA to be consistent with the complexities of state probate law,” said Morris.
ACA International agrees with the FTC guideline that rightfully owed debt should be collected from an estate respectfully, without misleading relatives or by using deceptive or abusive tactics. As outlined by the FTC, family members are typically not obligated to pay the debts of a deceased relative from their own assets.
Consumers seeking information on their rights in debt collection can visit www.askdoctordebt.com, a free resource to answer questions. In addition, the FTC has information for consumers about debt collection involving a deceased relative: Paying the Debts of a Deceased Relative: Who Is Responsible?
ACA International is the comprehensive, knowledge-based resource for success in the credit and collection industry. Founded in 1939, ACA brings together more than 5,000 members in the United States and abroad, and their more than 150,000 employees, including third-party collection agencies, asset buyers, attorneys, creditors and vendor affiliates. ACA establishes a wide variety of products, services and publications. For more information on ACA International, visit www.acainternational.org.