debt collection

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DAKCS Introduces Compliance Conversation Series with Industry Advocate, Joann Needleman.
CFPB has issued Notice of Proposed Rule. DAKCS is excited to introduce attorney and industry advocate Joann Needleman as guest compliance thought leader. Joann brings experience and insight as a navigator and strategist to assist in the regulatory changes the debt collection industry is facing today. Recently PDCflow interviewed Joann Needleman as she is making ...
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Putting Your Security at the Forefront.
DAKCS battens down the hatches to allow customers to have a better night’s sleep. Commitment to security and compliance have always been integral blocks of the DAKCS DNA and a huge part of the #DAKCSdifference. In our recent Grow With DAKCS article series we address five main reasons SaaS is important for your business, and ...
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Who is Ready with a Tax Season Strategy?
For collection agencies and ARM companies, tax season may feel like the real Christmastime. Tax season is in full force. Having a tax season strategy in place allows agencies to collect more money. Of the significant number of consumers who are expecting a tax refund this year, nearly a third plan to spend their refund ...
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What is Dynamic Caller ID?
Dynamic Caller ID in QwikDial Can Improve Your Contact Rate. We have focused on recent features added to our Contact Software Solution, QwikDial. We continue with QwikDial Month introducing our latest feature, Dynamic Caller ID. This added feature allows businesses to offer more localized numbers and provide better contact information for consumers. We continue these ...
How Long Will it Take for my Business Credit Score to Bounce Back after Settling Debts?
Businesses seldom incur major credit damage from large purchases because they properly position their finances beforehand. In addition, the contentious business consistently monitors its D&B or Experian credit file for any problems that could manifest with vendors, suppliers or others entities that it relies on to extend credit. But, it’s important to remember that even minor ...
How the New FICO Score 9 Enhancements Impact Businesses
With the recent rollout of the new FICO Score 9 credit scoring system, many business owners are curious, if not anxious, to know how it will ultimately affect their ability to extend credit to customers. Let’s look at what the FICO system is and is not. While many people think of FICO as the arbiter ...
Massachusetts Division of Banks clarifies that a written request from the consumer would not be necessary to initiate an obligation of response.
The Massachusetts Division of Banks clarified in a July 18, 2014 written opinion that a debt collector’s receipt of an oral request for records is sufficient to trigger the “five business day” period set forth in the Division’s validation of debt rule in Section 18.18(3). Section 18.18 of the Division’s Conduct of the Business of ...
Idaho Supreme Court ruling could change charges and fees
The Idaho Supreme Court’s recent decision regarding attorney’s fees could change how you charge collection fees. The Idaho Department of Finance recently issued guidance to help licensed collection agencies comply with the Idaho Collection Agency Act. 
In May, the high court unanimously ruled that collection agency Medical Recovery Services could not ask for attorney’s fees ...
Consumer Rights in Debt Collection
In today’s economy, debt is a fact of life for millions of people. This is evidence by statistics such as those from a Corporation for Enterprise Development study, which shows that 44 percent of Americans have less than three months’ worth of savings. Statistics like this make it imperative to keep people informed about their ...