DebtConnection.com 5/29/2009

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Friday, May 29, 2009

This Week Articles:

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CONGRESS TO CREDIT INDUSTRY: NO MORE CARD TRICKS
There may not be immediate results from lawmakers' attempts to stem foreclosures or unemployment, but there could be a direct impact from their focus on another populist cause: cracking down on credit card companies.
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FTC BEGINS RULEMAKING TO ADDRESS UNFAIR AND DECEPTIVE MORTGAGE PRACTICES
In an effort to better protect financially distressed homeowners, the Federal Trade Commission has initiated a rulemaking proceeding involving foreclosure rescue and loan modification services.
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CREDIT CARDS' UNINTENDED SECURITY HOLE
In one of the most delicious ironies in retail today, the single most significant element that makes it easier for cyber thieves to steal consumer credit and debit card information from retailers is something the credit card companies themselves cooked up.
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MORE BAD DEBTS MEAN MIXED BAG FOR COLLECTORS
Due to the recession, debt collectors have seen an increase in business over the past six months, with the retail sector generating the most paperwork.
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TROUBLED MORTGAGES HIT RECORD HIGH
NEW YORK (CNNMoney.com) -- Despite all the hand-wringing and attempts to contain the foreclosure plague, the problem still spread during the first three months of 2009, as the number of foreclosure actions started hit a record high, according to a quarterly report.
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CUOMO SHUTS DOWN ABUSIVE COLLECTOR
It began as a threatening phone call during Daniel Robinson's lunch break two years ago. The Brooklyn Web site editor received a call from CMC Recovery Services, a Buffalo collection agency, which claimed he owed $245 in credit card debt immediately.
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NCO GROUP ACQUIRES COMPLETE CREDIT MANAGEMENT LIMITED
HORSHAM, PA, 05/27/2009 - NCO Group, Inc. ("NCO" or the "Company"), a leading provider of business process outsourcing services, announced today that its pan European subsidiary, NCO Europe Limited, completed the acquisition of Complete Credit Management Limited ("CCM") from Severn Trent Services Group. CCM is a leading supplier of credit management and specialized collection services focusing predominantly on the utility sector in the United Kingdom. Commenting on the acquisition, Nick J. Ford, Managing Director of NCO Europe Limited, stated, "The CCM transaction presents NCO with a unique opportunity to continue its expansion into new sectors of the European market." About NCO Group, Inc. NCO Group, Inc. is a leading global provider of business process outsourcing services, primarily focused on accounts receivable management and customer relationship management. NCO provides services through over 100 offices throughout North America, Asia, Europe and Australia.
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ATTORNEY GENERAL CUOMO LAUNCHES INQUIRY INTO DEBT COLLECTORS ACROSS NEW YORK STATE
NEW YORK, NY - Attorney General Andrew M. Cuomo today announced that his office has launched a statewide inquiry into debt collection companies. As part of the inquiry, the Attorney General's Office obtained a court order against Lamont Cooper and his two debt collection companies, Emanee Development, Inc. and Dial Tech LLC, under which the companies will shut down and Cooper will be forced to pay restitution to consumers statewide.
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CAPITAL ONE CEO: IMPLEMENTATION OF CARD LAW TO CAUSE 'SHOCK'
NEW YORK -(Dow Jones)- Capital One Financial Corp. (COF) will thrive under a new, more-restrictive credit card law, its chief executive told investors Thursday.
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CUSTOMERS BENEFIT FROM GLOBAL CONNECT'S STAND-ALONE DATA CENTER IN TORONTO, CANADA
Mays Landing, NJ - For years, Global Connect has been offering a fast, simple, effective way to deliver messages to thousands of contacts within minutes, and the company continues to offer Canadian customers an additional benefit: the security and privacy of a Canadian data center. Since Global Connect opened its Toronto data center in January, 2008, voice messaging clients in the Canadian market have jumped at the chance to use this secure, all-Canada storage and networking platform, which improves their ability to comply with Canadian data privacy laws.
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DebtConnection.com is a searchable database of collection products and services.
The following Updates and New Entries occured since the last At A Glance was sent:

Portfolios For Sale

$25,454,042.00     Judgments
Stirling Capital Management
http://www.debtconnection.com/portfolio.asp?706
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3791

$8,098,804.00     Credit Cards
Stirling Capital Management
http://www.debtconnection.com/portfolio.asp?705
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3791

$10,537,058.00     Credit Cards
Stirling Capital Management
http://www.debtconnection.com/portfolio.asp?702
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?3791

Agency

A P SOLUTIONS
716-725-0290

Debt Buyers

KELLY FINANCIAL SERVICES
970-214-7745

STIRLING CAPITAL MANAGEMENT
561-791-8555

Debt Sellers

STIRLING CAPITAL MANAGEMENT
Edward Forbes
561-791-8555
More Information

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DOUBLE HELIX SERVICES, INC.
877-318-3003

Industry Events

2009 Collections Conference
Consumer Bankers Association
Westin Galleria
Dallas, TX
June 8 - 10, 2009
More Information

IACC 21st Annual Mid Year Management Conference
International Association of Commercial Collectors, Inc.
Wynn Las Vegas
Las Vegas, NV
June 13, 2009
More Information

Recovery Management Strategies & Techniques
Resouce Management Services, Inc.
Hyatt Rosemont
Chicago, IL
June 16 - 17, 2009
More Information

NACTT 44th Annual Meeting
National Association of Chapter 13 Trustees
Marriott Copley Place
Boston, MA
July 1 - 4, 2009
More Information

ACA Int'l's 70th Annual Convention & Expo
ACA International
Wynn Las Vegas
Las Vegas, NV
July 13 - 15, 2009
More Information

Debt Connection Symposium and Expo® 2009
Resouce Management Services, Inc.
El Conquistador Resort & Golden Door® Spa
El Conquistador, Puerto Rico
September 15 - 17, 2009
More Information

Recovery Management Strategies & Techniques
Resouce Management Services, Inc.
Hyatt Place Ontario Mills
Ontario, CA
October 6 - 7, 2009
More Information

Buyer/Seller 101
The Debt Marketplace, Inc.
Embassy Suites
Downey, California
October 13 - 14, 2009
More Information

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