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It's tough being a collection agency these days. But a good law list can make life easier and more profitable for you, the 4,100 debt collection agencies in the United States, plus all the other agencies around the world. For example, an established law list such as can:
  • Help you find experienced attorneys interested in handling commercial collections on a contingent basis — even in remote areas.
  • Match specific law firms with particular agencies. (Examples: "can handle large volume," "retail," "bankruptcy," etc.)
  • Provide problem-solving leverage and third-party mediation if necessary.
  • Deliver favorable wholesale rates thanks to our large volume of business.
  • Provide bonding coverage up to $3.5 million on its listees.
  • Keep you informed by acting as the eyes and ears of the industry.
  • Become an extension of your legal forwarding department.
Let me know if you need more information.

Thomas W. Hamilton

 Industry News

California sues JPMorgan Chase over credit card debt collections
JPMorgan Chase, one of the banks that forked over $26 billion to the states for mortgage foreclosure irregularities involving bogus documents, has allegedly applied some of the same finely honed techniques to credit card debt collection.
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CFPB revises rule protecting consumers sending money internationally
The Consumer Financial Protection Bureau recently revised its rule that creates certain protections for consumers who transfer money internationally. The revisions are intended to preserve the new consumer protections provided under the rule while facilitating industry's compliance with the rule. The rule will take effect Oct. 28.
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FCC proposes ridiculously fast in-flight Internet speeds
In a slam dunk 4-0 vote, the Federal Communications Commission just proposed kicking off a process that could eventually make your experience cruising the Interwebs at 30,000 feet considerably less, shall we say, sedate. How? By auctioning off the rights to recently freed up airwaves, and allowing Internet service providers to share those airwaves with satellite companies.
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Russia's repo man on a roll
Business New Europe
With consumer lending booming even as the economy slows, Russia's level of bad debt is creeping up. And banks anticipating trouble are increasingly passing on their problem loans to dodgy credit collection agencies. Express loans to consumers were rising by just under 40 percent last year and keeping Russian consumption afloat. But as the economy stalls, loans are starting to go bad.
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Partner profits rise as law firms cut equity partners, statistics confirm
ABA Journal
A decade of statistics confirm that America's top law firms are shrinking their proportion of equity partners relative to overall lawyers, and the cuts are often improving profits per partner. The American Lawyer analyzed the numbers for 97 law firms in the top 100 for 2012 that were also among the top 200 firms in fiscal 2002.
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Consideration of IRS Form 1099-C in the settlement of disputed debts
by Eamonn N. Sullivan and Donald W. Seeley, Jr.
Collection attorneys are in the business of settling disputed debts. Typically, two factors drive these settlements: The settlement figure and the payment schedule. The parties negotiate their settlement, payments are made and the debt is settled. Or is it? In addition to honoring the settlement terms, certain creditors have federally imposed requirements to report settled debt to the IRS. These obligations exist even when the debtor disputes the debt and may result in additional tax consequences for the settling debtor. At the heart of this issue lies IRS Form 1099-C.
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What our clients have to say:
As the Trinidad & Caribbean listee of ALQ for many years, I continue to be impressed with the integrity and quality of their claims and client service.

— Albert V. Knowles, A.V Knowles & Company Ltd, Trinidad and Tobago

After relying on the ALQ to connect us with highly qualified domestic legal referrals for many years, we have found them to be even more instrumental in recent years when providing excellent referrals throughout the world as we have embraced the Globalization that has taken place within our industry. The ALQ has shared with us their unique prospective on international collection practices and the attorneys who are most equipped to represent us in over 75 countries across the globe. We have forged a lasting partnership with the entire ALQ team over the past 30 years and will continue to count on them to bring the best legal talent to the our attention in the years ahead.

— Robert Lenardson, President, Commercial Collection Consultants, Inc., Encino, Calif.

Upcoming Events

July 13-14, 2013
IACC Midyear Conference
Manchester Grand Hyatt – San Diego

July 14-16, 2013
ACA International Annual Convention & Expo
Manchester Grand Hyatt — San Diego

Aug. 8-11, 2013
National Association of Bankruptcy Trustees
The Greenbrier — White Sulphur Springs, W.Va.

Complete schedule of events

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

    The ABCs of telephone collections (by Bob Tharnish)
The Fair Debt Collection Practices Act — Hope on the horizon for debt collectors? (JD Supra Law News)
Fair Debt Collection Practices Act: CFPB Annual Report 2013 (Consumer Financial)
A dwelling may be sold in California to satisfy a judgment even though subject to a homestead exemption (by Howard Goodman)
Developing and nurturing commercial client relationships (WW&R)

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


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