Debt collection letters are critical communications used by the ARM (accounts receivable management) industry. They stand as the official and formal notice to a debtor from a business regarding bills and payments due. It includes key information and must comply with compliance regulations. While all these documents are similar, they aren’t all effective collection letters. [...]
The accounts receivable management, or ARM, industry must comply with regulations in communications to consumers. As a result, these companies send high volumes of transactional mail. Those who wish to outsource this function will need accounts receivable management compliant print and mail services. So, what does that mean exactly? And what should organizations seek [...]
Compliance is always top of mind for those in the collections and accounts receivable management (ARM) industry. The Fair Debt Collection Practices Act (FDCPA) defines permissible print and digital communications. Failure to follow the rules can result in a debtor recovering actual and statutory damages, attorney’s fees, and other costs. For organizations to ensure ARM [...]
In the modern world, efforts for debt collection need an upgrade. By leveraging multi-channel communications, you can improve your debt collection efforts. With an encrypted, certified digital platform, you can remain compliant and gain the advantages of digital mail delivery. Find out how this works so you can recover more for your customers. What [...]
New York Governor Kathy Hochul signed the Consumer Credit Fairness Act (the Act) into law. The Act will likely have substantial impact on debt collection lawsuits filed by creditors or debt collectors in New York. The Act not only reduces the statute of limitations for filing a debt collection action, but imposes new filing [...]
November 19, 2021 - Following the recent opinion in Hunstein v. Preferred Collection and Management Services, Inc. issued on October 28, 2021, the Print & Mail Coalition (the “Coalition”) reconvened to explore ways to collectively assist the accounts receivables management (ARM) industry. The Coalition believes the ARM industry plays a critical role in the American [...]
Print & Mail Coalition Files Amicus Brief in Support of Preferred Collection and Management ServicesIdentifies Key Points Not Considered in The RulingMay 28, 2021 - Following the 11th Circuit’s panel decision in Hunstein v. Preferred Collection and Management Services, Inc., the Print & Mail Coalition (the “Coalition”) filed an amicus brief in support of the [...]
Leading Print & Mail Vendors Join Forces to Support the Accounts Receivables Management Industry Banding Together to File an Amicus Brief in the Wake of The 11th Circuit Court of Appeals Decision April 29, 2021 - Following the 11th Circuit’s decision in Hunstein v. Preferred Collection and Management Services, Inc., a group of accounts [...]
The Consumer Financial Protection Bureau (CFPB) is proposing to delay the effective date of the final debt collection rule (Regulation F) from Nov. 30, 2021, to Jan. 29, 2022. The delay is proposed to allow companies more time to comply with the rule due to the COVID-19 pandemic. The CFPB issued a Notice of Proposed Rulemaking [...]
The Ohio Governor signed a bill shortening the statute of limitations for written and oral contracts as well as specifically addressing consumer transactions. Effective June 16, 2021, the statute of limitations for written contracts will be reduced from 8 years to 6 years and the statute of limitations associated with oral contracts will be reduced [...]
