DebtConnection.com 11/16/2011

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Wednesday, November 16, 2011

Mid Week Articles:

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S&P/EXPERIAN CREDIT DEFAULT INDICES
NEW YORK, Nov. 15, 2011 /PRNewswire/ -- Data through October 2011, released today by S&P Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed that first mortgage default rates rose to 2.08% in October from September's 1.99%. Auto loans and second mortgage default rates decreased slightly; auto loans moved down from 1.29% in September to 1.22% in October, and second mortgages from 1.32% to 1.29%, respectively. Bank card default rates declined the most, from 5.36% in September to 4.85% in October.
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NOBLE SYSTEMS AND POSSIBLENOW FORM CONTACT CENTER
Atlanta, GA - November 16, 2011: Noble Systems Corporation, a global leader in unified contact center technology solutions, and PossibleNOW, the leading provider of compliance and marketing
solutions for direct marketers, today announced the formation of a renewed partnership to offer a broader, more effective suite of services to contact center and direct marketing clients.
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LAST REMAINING DEFENDANTS IN
The Federal Trade Commission has obtained a settlement against the remaining defendants in an allegedly fraudulent mortgage modification scheme that will permanently ban them from the mortgage assistance business and force them to return ill-gotten gains to consumers.
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YOU DID IT! ARM INDUSTRY DONATIONS TOP $27,000 FOR MILITARY VETERANS
Collingswood, NJ: ARMing Heroes (www.armingheroes.org), the accounts receivable management industry's non-profit dedicated to serving U.S. military veterans (hence "ARM" in "ARMing"), raised a total of $27,157 from the industry for the organization's Second Annual No Debts for Vets Charity Fundraising Drive ("the drive"). This exceeds by more than 8% the organization's stated goal of raising $25,000 between September 11, 2011, and Veterans Day, November 11, 2011. Here are the people and companies supporting military veterans in 2011 through this industry-specific effort:
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CAPITAL ONE TO KEEP HSBC WORKERS, ADD 400 IN CALL CENTER
In its bid to purchase HSBC's domestic credit card business, Capital One Financial Corp. plans to add 400 jobs in Sioux Falls next year.
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U.S. BANK RANKED IN TOP 100 MILITARY FRIENDLY EMPLOYERS(R) BY G.I. JOBS MAGAZINE
U.S. Bank is honored to be recognized as a top employer for active and retired military - and honored to call these heroes our colleagues," said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp, the parent company of U.S. Bank. "We owe our freedom to military veterans and the men and women who are currently serving in the armed forces and National Guard and Reserves. Their patriotism, work ethic, leadership and dedication inspire us every day."
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I.C. SYSTEM, INC. IS PPMS CERTIFIED FOR TENTH CONSECUTIVE YEAR
St. Paul, MN - I.C. System recently passed a third-party audit to maintain its status as a Certified Agency through ACA's Professional Practices Management System (PPMS) program. PPMS is a management system for collection agencies based upon developing, implementing, and adhering to a set of industry-specific professional practices and policies.
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PCI GROUP FORMS PARTNERSHIP WITH REVSOURCE SOLUTIONST, LLC - OFFERING REVSOURCE'S INNOVATIVE ONLINE PAYMENT SOLUTION, REVEXPRESST
PCI Group (www.pcigroup.com, Fort Mill, SC), one of the nation's leading document delivery and rapid outbound mail service providers, and RevSourceT Solutions, LLC (www.revsourcesolutions.com, Muncie, IN), a leader in innovative, integrated solutions for revenue maximization, have formed a partnership whereby PCI will now be offering its clients an online payment option for their customers, debtors or end-users. Specifically, PCI will be enabling its customers, which include collection agencies and collection law firms, financial and healthcare institutions and utilities, the option to use RevSource's RevExpressT payment product - a powerful, personalized, automated online payment option.
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ASSET ACCEPTANCE CAPITAL CORP. ANNOUNCES NEW CREDIT FACILITY
Asset Acceptance Capital Corp. (NASDAQ: AACC), a leading purchaser and collector of charged-off consumer debt, today announced the completion of a new senior secured credit facility. The new facility was led by a syndicate of banks with J.P. Morgan Securities LLC and RBS Citizens N.A. acting as lead arrangers. Berenson & Company, LLC served as the Company's financial advisor.
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NCO GROUP ANNOUNCES THIRD QUARTER 2011 RESULTS
NCO Group, Inc. ("NCO" or the "Company"), a leading provider of business process outsourcing services, announced today that for the quarter ended September 30, 2011, it reported net revenues, excluding reimbursable costs and fees, of $304.0 million and Adjusted EBITDA of $37.1 million. The Adjusted EBITDA excludes $7.6 million of restructuring charges and $6.3 million of non-cash allowances for impairment of purchased accounts receivable portfolios. This compares to net revenues of $292.2 million and Adjusted EBITDA of $32.0 million for the quarter ended September 30, 2010. The Adjusted EBITDA for 2010 excludes $7.4 million of restructuring charges and $1.2 million of non-cash allowances for impairment of purchased accounts receivable portfolios.
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CAPGEMINI ENHANCES ITS LEADERSHIP IN FINANCE & ACCOUNTING BPO THROUGH THE ACQUISITION OF VENGROFF, WILLIAMS & ASSOCIATES, INC.
Capgemini, one of the global leaders in consulting, IT services and outsourcing, today announced the acquisition of the Order to Cash (OTC) business from USbased Vengroff, Williams & Associates, Inc. (and certain of its affiliates), a leader in the accounts receivable collections market worldwide.
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CALIFORNIA EXPANDS ITS HOMEOWNER RELIEF PROGRAM
California's Keep Your Home California program is relaxing some of its eligibility restrictions and increasing the amount of assistance it provides struggling homeowners.
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FTC WELCOMES A NEW PRIVACY SYSTEM FOR THE MOVEMENT OF CONSUMER DATA BETWEEN THE UNITED STATES AND OTHER ECONOMIES IN THE ASIA-PACIFIC REGION
The Federal Trade Commission welcomed the approval by the forum on Asia-Pacific Economic Cooperation (APEC) of a new initiative to harmonize cross-border data privacy protection among members of APEC. The initiative is designed to enhance the protection of consumer data that moves between the United States and other APEC members, at a time when more consumer information is moving across national borders.
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FHA RESERVES SINK FURTHER BELOW LEGAL LIMIT AMID TALK OF BAILOUT
An annual audit of the Federal Housing Administration's (FHA) books has concluded there is a 50-50 chance the government mortgage insurer will need a bailout from taxpayers within the next 12 months.
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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

$926,109.00     Payday Loans
Wellington Acquisition Group
http://www.debtconnection.com/portfolio.asp?1815
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?5079

$2,994,581.00     Other
Wellington Acquisition Group
http://www.debtconnection.com/portfolio.asp?1814
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?5079

$2,099,929.00     Consumer Loans
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?1812
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690

$24,837,602.00     Telecommunications
Wellington Acquisition Group
http://www.debtconnection.com/portfolio.asp?1813
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?5079

$5,087,828.00     Credit Cards
WorldWide Debt Exchange
http://www.debtconnection.com/portfolio.asp?1811
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1690

$598,031.00     Payday Loans
Bay Capital Management Group
http://www.debtconnection.com/portfolio.asp?1809
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4866

$762,000.00     Payday Loans
Bay Capital Management Group
http://www.debtconnection.com/portfolio.asp?1810
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4866

$746,471.00     Payday Loans
Bay Capital Management Group
http://www.debtconnection.com/portfolio.asp?1808
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4866

$29,799,486.00     Auto Deficiencies
MATTIA & ASSOCIATES
http://www.debtconnection.com/portfolio.asp?1805
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?2999

$938,994.00     Credit Cards
PMD Financial Group, LLC
http://www.debtconnection.com/portfolio.asp?1806
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4252

$1,156,310.00     Credit Cards
PMD Financial Group, LLC
http://www.debtconnection.com/portfolio.asp?1807
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4252

$2,410,662.00     Credit Cards
Argonaut Financial, LLC
http://www.debtconnection.com/portfolio.asp?1798
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?1826

$318,306.00     Payday Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?1797
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4820

$156,925.00     Payday Loans
Bayview Solutions LLC
http://www.debtconnection.com/portfolio.asp?1796
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4820

$677,661.00     Credit Cards
Bay Capital Management Group
http://www.debtconnection.com/portfolio.asp?1793
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4866

$950,000.00     Payday Loans
Bay Capital Management Group
http://www.debtconnection.com/portfolio.asp?1795
More information about this company can be found here:
http://www.debtconnection.com/moreinfo.asp?4866

Agency

EMPIRE COLLECTION AUTHORITIES, INC.
Alonzo Cole
360-532-2484
More Information

DORTON GROUP
704-307-2911

Debt Buyers

ATLANTIC CREDIT & FINANCE
Jaideep Ganguly
800-888-9419
More Information

CASCADE RECEIVABLES MANAGEMENT, LLC
Lee Brockett
888-417-1531
More Information

Debt Sellers

WORLDWIDE DEBT EXCHANGE
Mandy L. Silva
866-332-8648
More Information

PARK FINANCE LLC
Mark Rice
646-580-7423
More Information

CASCADE RECEIVABLES MANAGEMENT, LLC
888-417-1531

Industry Events

Southern Region Conference
Commercial Law League of America (CLLA)
J.W. Marriott Hotel
Houston, TX
March 2, 2011
More Information

NASP 2012 Subrogation Litigation: Skills and Management Conference
National Association of Subrogation Professionals (NASP)
Wild Horse Pass Resort and Pass
Phoenix, AZ
March 22 - 25, 2012
More Information

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