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 Scams

Con artists are increasingly targeting the collections industry. In fact, about once a month I hear of another company in our industry that's been victimized. The targets are usually collection agencies and law firms. Real bank accounts are often used. And the amounts of money involved are sometimes significant. What can you do?
  • Be wary of faxes and emails peppered with poor grammar, although more and more of these scams are looking quite sophisticated.
  • Be suspicious of companies reaching out with opportunities that seem too good to be true.
  • Read comments and exchange information on our Collection Industry Internet Scams bulletin board.
  • Ask ALQ if you have doubts. we may be able to provide a thumbs up or thumbs down based on our knowledge of the industry and our contacts throughout the country and around the world.
Thomas W. Hamilton




 Industry News


DBA International approves Debt Buyer Certification Program; mandatory for membership
InsideARM.com
DBA International, the voice of the debt buying industry, recently announced that DBA members have amended the organization's bylaws making Debt Buyer Certification a requirement for DBA membership by 2016. Beginning in March 2013, DBA will be accepting applications for company and individual based certifications.
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FTC releases large multiyear debt buying study
insideARM.com
The Federal Trade Commission in January announced the results of the first empirical study of debt buyers. The report, "The Structure and Practices of the Debt Buying Industry," found there is room for improvement in the information collectors have when they contact consumers and try to collect.
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Asia Pacific credit and collection management practices
by Neil Wood
The Asia Pacific region constitutes the world's largest population, with the fastest expanding consumer spending capacity; and with its technology and low cost labor forces available, AP continues to attract both investment and manufacturers from Europe and North America wanting to capitalize on the business opportunities offered by the region. It is necessary for credit, collection managers and their lawyers and staff to understand the differences that exist in each of the countries they are dealing with, and importantly, to also appreciate that what works in the States will not always work in a foreign country.
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4 tips to maximize debt recovery
by Steven J. Greeley, Jr., Esquire
Creditors who want the most amount of money collected on their debts should consider taking these four important steps. And, not only is it important to have these procedures in place, but the creditor should take care to be sure that they are being followed consistently from the beginning of a customer relationship to allow for the best possible recovery should there be a failure to pay.
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Why debt collectors should not 'friend' debtors on Facebook
CreditandCollectionNews.com
Recent press attention to a case in which a debt collector sent a debtor a message through Facebook raises a question: How can debt collectors use social media? The answer: They'd better not.
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Debt collection operation shuttered by FTC
Collections&CreditRisk
A U.S. district court closed a Houston-based debt collection operation that allegedly illegally used insults, lies and false threats to collect on payday loans, according to the Federal Trade Commission.
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What our clients have to say:
Just a brief note to express our sincere appreciation for the services that you have provided to CMCS for more than 25 years. You have quite an operation going. Tom, Nancy and your entire staff have always been there for us. It is a pleasure dealing with professional, competent and enthusiastic people. Whenever we have needed to find a listee, even in those tough areas, the ALQ has provided an answer and supplied first rate representation. Thank you so much for all that you have done for us. Keep up the good work!

— Richard M. Brownlee, Vice President/Operations, CMCS, Inc., Brighton, Mich.

Since we have become an ALQ listee we have been receiving regular enquiries and commercial cases year over year from different collection agencies and law firms where the debtor is located in the Middle East and North African countries. This clearly shows that there are many different customers and ALQ listees as well who are using ALQ as a reliable source to find collection services in different parts of the world while at the same time ALQ protecting the forwarders through its insurance program. Frankly we as an ALQ listee are very glad that we are among good and reliable law firms and collection agencies. Our appreciation goes to Tom and his great team for their excellent and quality service and dedication to their listees. We highly recommend ALQ as an excellent source of generating business.

— Ebrahim F. Jawad, Managing Director, Al-Nabaa Commercial Services, Kingdom of Bahrain


Upcoming Events

March 19, 2013
CLLA Eastern Region 2013 Installation Dinner
The Water Club, New York City

April 11-14, 2013
Commercial Law League of America 83rd Chicago/Spring Meeting & 119th National Convention
Westin Michigan Avenue Hotel — Chicago

May 8-11, 2013
National Association of Retail Collection Attorneys Spring Collection Conference
Caesar's Palace — Las Vegas

Complete schedule of events


TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Mike Ginsberg on the future of collections (insideARM.com)
Temporary suspension extends time to collect aged bad debt in New York (Jocelyn R. Nager, Esq., President, Frank, Frank, Goldstein & Nager, P.C., New York)
Does an IRS lien trump your interest in a debtor's property? (Amanda R. Yurechko, Attorney, Weltman, Weinberg & Reis Co., LPA)
Now we know: How much proof do you need for that unsecured claim? (Weltman, Weinberg & Reis Co., LPA)
A mechanic's lien isn't good enough so protect yourself with a bonded stop notice (Howard Goodman)

Don't be left behind. Click here to see what else you missed.


 

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Thomas W. Hamilton, Executive Vice President, ALQ
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John Medellin, Content Editor, 469.420.2628   
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