Collections

EOS Consolidated remains on growth course

Wed, 01 Sep 2010 17:40:15 +0100

HAMBURG – Despite the international financial and economic crisis, in 2009/10 EOS Consolidated achieved a result slightly higher than the previous year’s figure: earnings before taxes (EBT) amounted to EUR 61.6 million in the financial year 2009/10 – compared with EUR 61.1 million in 2008/09.

EOS Consolidated receives A rating

Tue, 31 Aug 2010 17:37:47 +0100

HAMBURG – For the sixth time in succession, Euler Hermes Rating GmbH has rated EOS Consolidated with an ‘A’. This means that the agency regards EOS’ credit standing as well above the average that prevails in the economy as a whole.

Free advice for UK businesses on debt recovery in foreign countries

Tue, 31 Aug 2010 17:07:05 +0100

Cardiff, August 31, 2010 - Atradius Collections, the global expert in domestic and international debt collections, releases the latest edition of the International Debt Collections Handbook. The International Debt Collections Handbook is an essential tool for export-oriented UK businesses making decisions around debt recovery in foreign countries. In total the handbook covers 26 countries and covers the different stages of amicable settlement, financial regulations around collections, legal proc ...

Vendor and distributor credit managers will focus on future challenges and opportunities

Thu, 26 Aug 2010 20:54:58 +0100

P&A Receivables, the leading credit management and debt recovery service provider to the IT industry, is expecting ‘a lively and frank exchange’ of opinions at its forthcoming European Credit Forum (ECF) for senior credit managers from IT vendors and distributors, which takes place in Dublin on Thursday 16th and Friday 17th September.

Inland Capital Services Selects Ontario Systems Collect SAVVY

Tue, 24 Aug 2010 18:32:54 +0100

(MUNCIE, IND) – Ontario Systems, LLC, a leading provider of accounts receivable and revenue-cycle recovery solutions for the collection and health care industries, announces that Inland Capital Services, one of the premier debt collection agencies in the U.S., is now live on Ontario’s Collect SAVVY software. Leveraging Collect SAVVY in Ontario Systems’ Software-as-a-Service (SaaS) environment, Inland Capital Services will use Collect SAVVY to improve collections and provide int ...

Ontario Systems Company Announcement

Tue, 10 Aug 2010 17:40:50 +0100

Ontario Systems, LLC, a leading provider of accounts receivable and revenue-cycle recovery solutions for the collection and health care industries, announces Ryan Childers, Senior Manager of Professional Services, has been selected as co-chair of the Professional Services Champions program for the Technology Services Industry Association (TSIA), the technology services industry's largest and most vibrant association.

OnGuard Announces North American Client Win, World Shipping Inc.

Mon, 09 Aug 2010 19:21:06 +0100

New York, NY August 09, 2010 – OnGuard USA Inc., provider of credit management solutions, today announced that World Shipping Inc. has selected OnGuard’s flagship credit management platform, OnGuard ICMS. The product will help World Shipping integrate, enhance and streamline its credit management processes.

Direct Legal & Collections sustains investment in training

Tue, 13 Jul 2010 10:10:54 +0100

Leading collections solutions provider, Direct Legal & Collections (dlc) is continuing to invest in the development and training of its staff, as six more team members gained their City & Guilds Accredited CSA Diploma earlier this month.

Ten-day public sector payment not being passed along supply chain, says business group

Tue, 13 Jul 2010 09:59:17 +0100

A public sector initiative to pay invoices within 10 days is not being passed on by main contractors to smaller suppliers, the Forum of Private Business (FPB) has discovered.

OFT imposes requirements to end misleading claims

Tue, 13 Jul 2010 09:50:04 +0100

The OFT has imposed requirements on a debt management company, Carefree Group Ltd, in respect of its advertising of debt management services. The requirements also apply to an associated licensee, trading as Carefree Debt Solutions, and cover all types of advertising, including websites.

OnGuard Integrates Customer Scoring as Standard Feature in Response to North American Client Demand

Tue, 15 Jun 2010 09:45:39 +0100

OnGuard, provider of credit management solutions, has seen an upsurge in North American client interest following the National Association of Credit Management’s (NACM) 2010 Credit Congress. In response to market demand it has added enhanced customer scoring technology to its core platform as a standard feature.

Outsourced Debt Collections Industry Maintains Strong Profile and Effectiveness

Mon, 14 Jun 2010 15:42:00 +0100

CARDIFF – The latest “Global Collections Review” survey undertaken by leading credit management and collections specialist Atradius Collections, assessed the current commercial debt collection trends and practices of more than 1,700 companies in nine European countries including Great Britain.

SMEs face global late payment issue when trading overseas

Mon, 07 Jun 2010 16:33:33 +0100

As companies take advantage of the current weakness of the Pound and increase their exporting arms, many business owners and managers are encountering frustrating international payment practices, according to specialist business finance provider Bibby Financial Services.

ABC-Amega joins with Predictive Metrics to launch Net30Score for Its Credit Groups

Tue, 25 May 2010 16:52:45 +0100

BUFFALO, NY – ABC-Amega, Inc., a global leader in the commercial collection, credit information, and receivables outsourcing markets, has partnered with PredictiveMetrics℠ Inc. (PMI), a leading provider of statistical scoring solutions for the B2B market, to provide ABC-Amega’s credit group members with an industry-relevant, statistically based payment scoring analysis and reporting on their customers.

MACM Celebrates its 10th Anniversary A thank you from the director general

Wed, 12 May 2010 17:20:00 +0100

Josef Busuttil, Director General of the Malta Association of Credit Management (MACM), has sent a thank you message to association members on its 10th Anniversary.

European written off debt reaches 300 billion equivalent to the national debt of Greece

Mon, 10 May 2010 17:53:26 +0100

STOCKHOLM/BRUSSELS - Research to be released tomorrow in Brussels by leading credit management services company Intrum Justitia is set to show that European written off debt – monies owed to a business in the region but never paid – has reached the record level of €300 billion – a figure equal to Greece's national debt. This is an 8% rise on the levels recorded in 2009.

EOS Group acquires True North AR in the U.S.

Wed, 05 May 2010 19:27:53 +0100

HAMBURG – As of 30 April 2010, the international EOS Group, an Otto Group company, acquired 100 per cent of the stakes in the U.S.-American company True North AR, LLC. Established in 1968, True North provides healthcare revenue cycle solutions and debt collection services to county and municipal courts, government and other businesses.

Digital Voice Recording and integration of IPPBX with DialIntelligence

Tue, 04 May 2010 18:12:52 +0100

DialConnection, LLC, an international leader in providing the All-Inclusive DialIntelligence Contact Center Solution, has been providing their call recording suite for almost a decade and now provides client’s the ability to integrate their IP-PBX so all calls can be recorded, stored and dynamically retrieved in one compliant solution.

Bailiffs fight listless parents with cross

Tue, 04 May 2010 09:29:33 +0100

Bailiff's in the central Russian republic of Bashkortostan are using Orthodox priests in an unorthodox way of making absent fathers and mothers pay child support.

Aktiv Kapital- 1st quarter 2010 results

Thu, 29 Apr 2010 09:36:58 +0100

Oslo - Aktiv Kapital reports first quarter 2010 portfolio collection of NOK 371.9 million, compared with NOK 491.2 million in the first quarter 2009. As a consequence of few portfolio acquisitions, this decrease is in line with expectations. Operating profit was NOK 104.3 million for the quarter, compared with NOK 123.1 million the same period last year. Moving forward, Aktiv Kapital will continue to focus on operational improvements and seek attractive portfolio acquisition opportunities. ...

Insolvency Service cracks down on bankrupts who try to conceal assets

Tue, 30 Mar 2010 11:23:06 +0100

Debtors who believe they can go bankrupt yet hide some of their assets from the Official Receiver have been told to think again by The Insolvency Service.

Apex Credit Management expands to Kent

Tue, 30 Mar 2010 11:17:41 +0100

Financial services company, Apex Credit Management, based in Stratford-Upon-Avon, has expanded into Kent. The company’s Discovery Solutions division has taken a Regus serviced office at Kings Hill Business Park, near Maidstone, and hopes to create 50 new jobs in the county over the next three years.

Noble Systems releases results of contact centre survey

Tue, 30 Mar 2010 11:16:19 +0100

Noble Systems Corporation, a global leader in innovative contact centre technology solutions, today announced the results of a comprehensive survey, commissioned by Noble Systems of more than 1200 independent contact centres, the survey revealed that 97 percent of respondents expect their businesses to grow or remain stable in 2010, a sign of strong confidence in the industry.

Data show surge in consumer cases in fiscal 2009

Sun, 21 Mar 2010 22:38:53 +0100

WASHINGTON, USA – The number of new cases in federal courts related to consumer issues surged in the year ended last Sept. 30 as Americans battered by the recession fought foreclosures and downgraded debt ratings, data released Tuesday show.

FAAN Revenue Collection Concession Controversies

Sun, 21 Mar 2010 22:01:09 +0100

NIGERIA - The raging controversies over the concessioning agreement on revenue collection between the Federal Airports Authority of Nigeria(FAAN) and Maevis Nigeria Limited is getting murkier on a daily basis, since the beginning of this month when the media reported the later as complaining about some stumbling blocks within FAAN. The Commercial Department of FAAN was accused of giving waivers to some concessionaires running into several billion naira, against the terms of agreement on r ...

Rent-A-Center settles lawsuit with state

Sun, 21 Mar 2010 21:51:16 +0100

USA - A victory for local customers of Rent-A-Center furniture stores -- the company just settled a lawsuit over its debt collection practices.

Ohio Collection Agency Settles FTC Charges

Sun, 21 Mar 2010 21:44:09 +0100

USA - Credit Bureau Collection Services, a Columbus, Ohio collection agency, will pay a civil fine of $1.1 million to settle Federal Trade Commission charges that it violated federal law by inaccurately reporting credit information and pushing consumers to pay debts they often did not owe, FTC officials said today.

N.J. bill targeting abusive debt collection approved by Assembly panel

Sun, 21 Mar 2010 21:41:23 +0100

Legislation designed to combat unscrupulous debt collection practices was approved 3-2 Thursday by the Assembly Consumer Affairs committee.

Turmoil hits electricity subscribers

Sun, 21 Mar 2010 21:26:00 +0100

TURKEY - A large amount of people fail to pay their electricity bills amid the global turmoil. The electricity distribution company that offers service to 3.83 million subscribers on the European side of Istanbul sends execution letters to nearly 300,000 subscribers in 2009.

Suthers settles debt collection suit

Sun, 21 Mar 2010 19:38:26 +0100

DENVER, USA - Colorado Attorney General John Suthers has reached a settlement with four law firms, three attorneys and one associated business barring them from violating the state's debt collection and consumer protection laws.

San Jose writes off $1.7 million in debts

Sun, 21 Mar 2010 19:32:53 +0100

USA - Although San Jose is struggling with multimillion-dollar deficits, the City Council this week voted unanimously to write off $1.7 million owed to city coffers.

VTB overdue debt reaches $2 billion

Sun, 21 Mar 2010 19:26:54 +0100

In the last year the amount of VTB overdue loans has increased 50% to $2 billion, according to a report in Vedomosti.

State looks for ways to collect debt

Sun, 21 Mar 2010 19:09:36 +0100

DES MOINES, USA - Iowa lawmakers are looking to hire a debt coordinator to oversee a process of trying to recoup hundreds of millions of dollars owed to the state for unpaid court charges, back taxes or other delinquent payments.

Rwandas fund manager hires more bailiffs to curb defaulters

Sat, 20 Mar 2010 17:20:55 +0100

KIGALI, RWANDA - The Social Security Fund of Rwanda (SSFR) has recruited court bailiffs and tasked them with confiscating and auctioning property of contributors who default. Social Security Fund of Rwanda targets to collect about $45.7m (Rwf26.2 billion) as contributions and already $22.8 m (Rwf13.3 billion) has been realised in first semester.

LG advises on third Dubai liquidation in the DIFC

Thu, 18 Mar 2010 11:21:39 +0100

International business law firm Lawrence Graham LLP (LG) has advised Shahab Haider, the Liquidator of Orion Holding Overseas Limited, which was ordered to be wound up on 11 January 2010. Orion was previously known as a leading financial services firm in the Middle East and North Africa region. It is only the third liquidation case to be heard by the DIFC court.

Aspect positioned as leader in Contact Center Infrastructure Magic Quadrant

Wed, 10 Mar 2010 18:50:24 +0100

CHELMSFORD, Massachusetts - Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced it has been positioned by Gartner, Inc. in the leaders quadrant of the 2010 Magic Quadrant for Contact Center Infrastructure, Worldwide report.

Foundation of the IPF Association

Mon, 08 Mar 2010 17:15:40 +0100

On Wednesday 24 February 2010, in London, 21 leading banks, clearing houses and associated payment service providers formed the International Payments Framework Association (IPFA).

New Edition: International Debt Collections Handbook!

Wed, 03 Mar 2010 23:49:00 +0100

AMSTERDAM – Atradius Collections, the global expert in domestic and cross-border debt collections, releases today the new extended edition of its International Debt Collections Handbook.

Aktv Kapital maintains profitability in challenging market

Fri, 26 Feb 2010 11:58:34 +0100

OSLO - Aktiv Kapital reports fourth quarter 2009 portfolio collection of NOK 402.8 million, compared with NOK 531.6 million in the fourth quarter 2008. Total operating expenses in the quarter were reduced 26 percent year-over-year, to NOK 187.4 million.

AIK - Presentation of Aktiv Kapital's fourth quarter results 2009

Mon, 22 Feb 2010 17:23:15 +0100

Aktiv Kapital's Q4 2009 results will be released on Friday 26 February 2010. In connection with the release, a teleconference/webcast will be held as described below:

FTC Returning $1.6M to Victims of Phony Debt Collection Scam

Fri, 19 Feb 2010 16:13:54 +0100

USA - The Federal Trade Commission is sending $1.6 million in recovered funds to 24,916 consumers it said were scammed each for about $100 or more by phony debt collectors who harassed and threatened their victims.

Collection Industry Employment Growth Expected

Fri, 19 Feb 2010 12:20:07 +0100

USA - In spite of today's tough economy and high unemployment rate, many people are finding work in the debt collection industry. According to the 2010-2011 edition of the Bureau of Labor Statistics' Occupational Outlook Handbook, the number of debt collection jobs in the United States is projected to grow 19 percent by 2018, a rate that exceeds the average for other occupations and provides hope for job seekers in a gloomy hiring market.

Jewelers Alert launches debt collection agency

Fri, 19 Feb 2010 12:17:11 +0100

New York, USA - Jewelers Alert, which operates a Web site that provides real-time credit information for the trade, has launched the Jewelers Alert Collection Corporation (JACC), a licensed debt collection service for the U.S. diamond and jewelry trade.

Council must use debt collectors as waste bill dodgers rack up 22m

Fri, 19 Feb 2010 12:14:18 +0100

IRELAND - Rathdown County Council is to employ a debt collection agency to obtain over €22m owed by residents and businesses for waste services.

Credit and Collection Executives are Doubtful About Economic Recovery in 2010

Fri, 19 Feb 2010 12:07:53 +0100

USA - Confidence in the economic recovery has eroded in the accounts receivable management industry (ARM), according to the results of insideARM.com's quarterly Credit & Debt Collection Industry Confidence Survey.

Capitec Bank in South Africa selects Experian for debt management and collections

Fri, 19 Feb 2010 12:05:56 +0100

SOUTH AFRICA - Capitec Bank has selected Experian, the global information services company, to help it enhance its debt management and collections activities.

Brazil's GRV Solutions SA Plans IPO On The BMFBovespa

Fri, 19 Feb 2010 12:00:44 +0100

SAO PAULO, BRAZIL - Brazil's GRV Solutions, a provider of credit management and processing services, said Thursday that it plans to hold an initial public offering on the Sao Paulo Stock Exchange, the BMFBovespa.

Minnesota AG sues 6 debt settlement companies

Fri, 19 Feb 2010 11:56:49 +0100

MINNEAPOLIS, USA - The state attorney general sued six out-of-state debt settlement companies Thursday for alleged violations of Minnesota law that left consumers already struggling with their debt in worse shape than when they started.

Number of FDCPA Cases Reaches All-Time High

Mon, 08 Feb 2010 12:43:58 +0100

USA - Total number of FDCPA cases increased more than 55 percent in 2009.

Comerica Bank Selects CGI for Global Trade and Supply Chain Services Processing

Wed, 03 Feb 2010 17:30:32 +0100

USA - CGI Group Inc. today announced a 5-year partnership with Comerica Bank to implement CGI’s Proponix360 global trade platform software which will help the bank reduce costs and enhance customer service.

Tax bailiffs raking it in at airport

Wed, 03 Feb 2010 11:54:36 +0100

COPENHAGEN, DENMARK - Passengers travelling through Kastrup airport with undeclared money can expect the taxman to be there waiting for them.

Apollo launches TrueCollect Express as a more affordable web collections technology

Tue, 02 Feb 2010 08:01:31 +0100

Irvine, California January 26, 2010 -- Apollo Enterprise Solutions, Inc ("Apollo") announces its launch of TrueCollect™ Express, a reduced-featured version of its award-winning market-leading TrueCollect technology.

Two year anniversary of SEPA Credit Transfers...

Thu, 28 Jan 2010 15:31:25 +0100

Jonathan Williams, Director of Strategic Development for Experian Payments, comments on the second anniversary of SEPA Credit Transfers.

FTC releases video offering debt collection advice

Fri, 22 Jan 2010 17:00:29 +0100

USA - The Federal Trade Commission released a video recently offering advice to consumers facing debt collectors.

ZRA collects K9.678 trillion in taxes

Fri, 22 Jan 2010 16:48:39 +0100

ZAMBIA - The Zambia Revenue Authority (ZRA) collected K9.678 trillion in taxes last year against the revised parliamentary target of K9.6 trillion, recording a surplus of K78.6 billion.

Ninth Circuit interprets the FDCPA

Fri, 22 Jan 2010 16:42:46 +0100

USA - In Donohue v. Quick Collect, Inc, the Ninth Circuit interpreted two sections of the Fair Debt Collection Practices Act (“FDCPA”) and held that a collections agency did not violate the FDCPA because the original payment terms between the appellant and her dental practice did not constitute a forbearance agreement under Washington State law. Additionally, the court held that the collections agency did not violate the FDCPA when it mislabeled the interest owed on the debt. ...

Uganda tops EAC states in revenue collection at 22.9%

Wed, 20 Jan 2010 17:56:23 +0100

UGANDA - Uganda Revenue Authority (URA) performance for the first half of the financial year indicates that Uganda is collecting slightly more taxes than its other EAC counterparts.

Debt collectors expect to recover with the economy

Wed, 20 Jan 2010 17:47:13 +0100

AUSTRALIA - Debt collectors expect to thrive now that the worst of the crisis is over, as falling unemployment not only means that consumers and businesses will start spending again, but also that it should be a little easier to recover what is owed.

Octempos new global cash flow management service suits SMEs

Wed, 20 Jan 2010 16:32:42 +0100

U.K. - Cash flow management specialists Octempo:RM believe an expansion of their international collections service will provide SMEs with a viable alternative to faceless credit insurance giants.

Outsourced Debt Collections Industry Maintains Positive Image

Mon, 18 Jan 2010 15:37:52 +0100

AMSTERDAM - In its recent "Global Collections Review" of over 3,500 companies across four continents, leading credit management and collections specialist Atradius assessed business requirements for outsourcing business-to-business collections services.

The FTC does its own collecting on debt chasers

Sun, 17 Jan 2010 12:35:31 +0100

USA - The Federal Trade Commission has just wrapped up a case that should send shivers down the spines of managers working in the debt-collection industry.

Debt law firm's fall brings chaos

Sun, 17 Jan 2010 12:25:09 +0100

USA - Maryland regulators and courts grappled Friday with the chaos created by the failure of a debt-collection law firm, as consumers endeavored - often with no luck - to figure out where to send payments or make good on court-ordered settlements.

Process server admits fraud

Sun, 17 Jan 2010 12:18:42 +0100

USA - A Long Island-based process server who was accused of leaving thousands of New Yorkers unaware that they had been sued for unpaid debts, subjecting many of them to surprise judgments, liens and wage garnishments, has pleaded guilty to fraud.

TCS posts sector leading performance for third consecutive quarter

Fri, 15 Jan 2010 15:21:45 +0100

MUMBAI, INDIA - Tata Consultancy Services reported its consolidated financial results according to US GAAP for the quarter ended December 31, 2009.

Major milestones achieved-FIRCA

Wed, 13 Jan 2010 17:13:02 +0100

FIJI - The Fiji Islands Revenue and Customs Authority said major milestones have been achieved as far as tax revenue collections are concerned for 2009.

ICICI Bank and First Data Enter Merchant Acquiring Alliance

Wed, 06 Jan 2010 11:30:42 +0100

MUMBAI – ICICI Bank, India’s largest private sector bank, and First Data, a global leader in electronic commerce and payment services, have formed a merchant acquiring alliance named ICICI Merchant Services, which has acquired ICICI Bank’s merchant acquiring portfolio.

Israeli Bailiff's Office figures

Mon, 04 Jan 2010 17:49:53 +0100

ISRAEL - The Bailiff's Office (Hotza'a lafo'al) collected NIS 920.2 million from January to November 2009, 1.8% less than in the parallel period in 2008.

Ontario Systems Announces Collect Savvy for Debt Collection Agencies

Mon, 04 Jan 2010 12:59:01 +0100

MUNCIE, IND., USA - Ontario Systems, a leading provider of accounts receivable and revenue cycle management solutions for collection and health care industries, announces the introduction of Collect Savvy, a new software solution designed for better debt collection management.

Interim Report on Creditor Claims in Arbitration and in Court

Mon, 04 Jan 2010 12:54:11 +0100

USA - The Searle Civil Justice Institute (SCJI) at Northwestern University School of Law released an Interim Report by its Consumer Arbitration Task Force on Creditor Claims in Arbitration and in Court. The Interim Report seeks to compare the outcomes of the American Arbitration Association (AAA) debt collection arbitrations to the outcomes of debt collection cases in court to evaluate arbitration as a means of resolving consumer disputes. ...

Iowa targets outstanding court debt

Mon, 04 Jan 2010 12:41:21 +0100

DES MOINES, IOWA, USA — Gov. Chet Culver is spearheading a new effort to get scofflaws who owe the state money to make good on their debt.

Parliament: Debt collectors cant use violence

Mon, 04 Jan 2010 12:39:27 +0100

KUALA LUMPUR, MALAYSIA - Debt collectors appointed by financial institutions cannot use violence and harass loan-takers, Deputy Finance Minister Datuk Chor Chee Heung said.

Supes consider hiring agency to collect fines

Mon, 04 Jan 2010 12:30:22 +0100

USA - The Oktibbeha County Board of Supervisors is considering whether or not to hire a collection agency to recover more than $1.1 million in unpaid taxes and fines from county residents.

North American Credit Services gives collections break during Christmas week

Mon, 04 Jan 2010 12:28:05 +0100

CHATTANOOGA, TN, USA – For some, a bill collector may conjure up images of a nasty, threatening character. Some who might even visualize as the "Grinch" during the holiday season, but Dallas S. Bunton, Sr., CEO and Chairman of North American Credit Services and Medical Services of Chattanooga, is tired of being lumped in with the Grinches.

Judge bans closed debt collection firm

Mon, 04 Jan 2010 12:25:48 +0100

Baton Rouge, USA - A Baton Rouge debt collection company that the Louisiana Attorney General’s Office says has been the subject of dozens of complaints from at least 30 states since 2001 was prohibited Tuesday from doing business.

Banks to create center for processing complaints against collection agencies

Mon, 04 Jan 2010 12:22:10 +0100

KYIV, UKRAINE - The Association of Ukrainian Banks (AUB) and the Independent Association of Ukrainian Collection Agencies (IAUCA) intend to create a center for processing complaints against debt collection agencies, according to the Web site of the AUB.

Revenue Management Corporation Awarded Multi-Year Contract

Mon, 04 Jan 2010 12:17:08 +0100

Chicago, IL – Revenue Management Corporation, a wholly owned subsidiary of RMK Holdings Inc. was awarded a multi-year RFP contract for Emergency Medical Services (EMS) Debt Collection Services from the City of Bloomington Fire Department.

Suits allege unscrupulous debt collection tactics

Mon, 04 Jan 2010 12:15:44 +0100

Three more people have filed federal lawsuits alleging unscrupulous practices by debt collectors.

More credit card issuers ditch mandatory binding arbitration

Mon, 04 Jan 2010 12:05:54 +0100

Even more customers can expect relief soon from a once nearly universal provision of credit card agreements that many debtors and their advocates consider profoundly unfair.

Swedes reach new peak in mountains of debt

Mon, 04 Jan 2010 12:01:35 +0100

Swedes are further in the red with the national debt collection agency (Kronofogden) than ever before, with accumulated debts currently totalling 64 billion kronor ($9 billion).

Courts hangover follows debt binge

Mon, 04 Jan 2010 11:54:59 +0100

There was no let-up in the rate at which finance companies dragged defaulting debtors into court in the eight months to the start of December.

Law vs. harassment of debtors 'must be passed'

Mon, 04 Jan 2010 11:50:48 +0100

Five months ago, Sen. Miriam Defensor Santiago proposed the Prohibiting Credit Card Debt-Collection Harassment bill aimed at “addressing numerous complaints on how credit card companies, through their counsels or collecting agencies, use unfair collection practices that range from harassment to borderline illegal."

Petitions against luxury car tax dismissed

Sun, 03 Jan 2010 21:54:33 +0100

THE Lahore High Court on Thursday dismissed hundreds of identical petitions challenging the levy of two per cent luxury tax on imported cars having engine bigger than 2000 CC.

Business Payments Continue to Decline, According to Experians Latest Business Benchmark Report

Fri, 18 Dec 2009 18:36:50 +0100

Experian®, the leading global information services company, today announced the results of its monthly Business Benchmark Report. During the month of November, the majority of measurements in the report show that payment performance is continuing to deteriorate nationwide across most industries, geographies and businesses of all sizes.

ExpertoCredite Signs Letter of Intent to Acquire TimeFinans ABs Debt Collection, Volex Inkasso AB

Fri, 18 Dec 2009 18:04:33 +0100

Experto Credite Ltd announced today that it has signed a letter of intent for the proposed acquisition of Volex Inkasso AB (former subsidiary of TimeFinans AB being part of Halens Postorder in Borås-Sweden).

Aspect leverages unified communications to lower hold time by 76 percent

Thu, 17 Dec 2009 11:11:45 +0100

Aspect, a unified communications (UC) solutions provider, today announced it has seen measurable results in its support call centre through the use of unified communications capabilities and the Seamless Customer Service UC application for the contact centre.

Businesses See Massive Rise in Foreign Debt in 2009

Tue, 15 Dec 2009 09:06:59 +0100

2009 saw a colossal increase in the value of foreign debt being chased by UK exporters. New data from Lovetts, the law firm specialising in commercial debt recovery and litigation, has found that in the first quarter of the year, businesses were experiencing a shocking 475% increase in the value of debt from overseas customers compared to the same period in 2008.

Fees owed to San Diego city top $4 million

Mon, 14 Dec 2009 10:51:02 +0100

As it struggles to close a $179 million city deficit, San Diego has failed to collect more than $4 million in fees owed by private companies and public agencies that sought development approvals, according to a new audit.

Intrum Justitia Creates Strategic Alliance with Coface in France

Mon, 14 Dec 2009 10:19:29 +0100

Intrum Justitia enters into a joint venture with Coface in France. The purpose is to jointly run B2C collection business, currently owned by Coface Services. Coface has global presence with 7 000 employees in 67 countries. The subsidiary Coface Services is a French leader in credit information and credit services.

DialConnection LLC granted signatory status to the collection technology open standard

Fri, 11 Dec 2009 09:44:07 +0100

DialConnection has become a Signatory to the Collection Technology Open Standard (CTOS), a best practices document that defines what it means for collection technology to be open. The Signatory designation indicates that DialConnection supports and adheres to the CTOS.

Bailiffs auction off dacha of MMM financial pyramid mastermind

Fri, 11 Dec 2009 09:33:06 +0100

MOSCOW (Itar-Tass) - Bailiffs sold the village house of MMM financial mastermind Sergei Mavrodi in the Tver region, to meet the compensation claim from defrauded investors.

Adeptra achieves global PCI DSS compliance

Wed, 09 Dec 2009 20:04:59 +0100

Adeptra, the recognised leader in automated contact and resolution services to financial institutions, today announced that it has achieved global compliance with the Payment Card Industry Data Security Standard (PCI DSS) and ISO27001, the international information security standard. Adeptra was the first Interactive Voice Messaging organisation to be accredited to the highest data protection standards mandated by the Payment Card Industry, and uniquely, has now achieved this globally. ...

Bailiff Fired For Using Unnecessary Force

Mon, 07 Dec 2009 09:31:10 +0100

Iris Tisby was arrested in July for assaulting a law enforcement officer, and a bailiff in juvenile court said Tisby also attacked him in the courthouse.

Police raise fees

Mon, 07 Dec 2009 09:27:48 +0100

All Fijian police clearance and vetting fees will increase from January 1, 2010. This means that anyone seeking clearance from the Fiji Police Force for a variety of services including migration, work permits, and licences for liquor, bailiff, hotel and Public Service Vehicles will have to pay more from next year.

Octempo:RM speaks OH2's language when it comes to chasing payments

Wed, 02 Dec 2009 10:10:48 +0100

A translations business is getting the help they need to become established in the UK from a unique cash flow management specialist, which can chase invoice payments in up to 27 different languages.

What is the European Commission doing about e-Invoicing?

Mon, 30 Nov 2009 17:37:41 +0100

In 2007 the Commission worked with a wide range of stakeholders - companies, banks, other financial service providers, standardisation organisations - to develop a common understanding of the problems and to agree the best way forward.

Imaginary girl used by Russian bailiffs turns real and sues them

Thu, 26 Nov 2009 09:31:23 +0100

A 26-year old Moscow woman wants bailiffs from the Russian republic of Udmurtiya to pay her 5 million rubles for using her photos from social networking sites in a trap to catch tax-dodgers.

MasterCard Launches MasterCard Mobile Payments Gateway to Spark Mobile Commerce Globally

Mon, 16 Nov 2009 17:28:26 +0100

MasterCard today announced the introduction of the MasterCard Mobile Payments Gateway, a mobile payments processing platform that enables financial institutions and mobile network operators to deliver end-to-end mobile payments solutions through the MasterCard Worldwide Network.

Malaysian debts chased

Mon, 16 Nov 2009 16:24:31 +0100

Selangor's Mentri Besar Incorporated (MBI) is to launch a massive debt collection exercise to recover some RM450 million from its subsidiary companies.

Czech bankruptcies rise

Mon, 16 Nov 2009 16:21:24 +0100

The number of Czech bankruptcy filings rose 71 percent year on year, a research by debt collection and research firm Creditreform showed on Monday.

Debt figures grim - Baycorp

Mon, 16 Nov 2009 15:00:04 +0100

A grim picture of Kiwi debt has been painted in new figures by debt collection company Baycorp.

Telstra overspends $1.5b on IT transformation

Mon, 16 Nov 2009 14:58:18 +0100

Telstra’s IT transformation budget is over by $1.5 billion on the original $12 billion forecast when the project commenced in November 2005.

Boom times for debt collectors

Mon, 16 Nov 2009 14:53:59 +0100

The recession may be over but figures released by transtasman debt collection agency Baycorp show its impact is still hitting profit and loss accounts nationwide.

GAO Report Says IRS Debt Collection Efforts Ineffective, Costly

Mon, 16 Nov 2009 13:20:44 +0100

The U.S. Government Accountability Office recently released a report confirming what has long been obvious to members of the credit and collection industry– the IRS doesn't do debt collection nearly as well on its own as it does when partnering with professional debt collectors.

AG seeks greater authority over debt collectors

Mon, 16 Nov 2009 13:19:16 +0100

Florida Attorney General Bill McCollum has requested the Legislature to provide expanded authority to sue abusive debt collectors.

VocaLink restructures company to support international growth

Mon, 16 Nov 2009 11:19:31 +0100

VocaLink, the payment transaction specialists, today announced a restructuring of the company in response to international market demand for modern payment services.

Trade matching to settlement made easy

Mon, 09 Nov 2009 12:37:30 +0100

Euroclear Bank and Xtrakter are launching immediately the means for mutual clients to automate transaction information flows from trade matching through to settlement.

A rating for EOS consolidated

Mon, 09 Nov 2009 10:45:47 +0100

For the fifth time in succession, Euler Hermes Rating GmbH has awarded an ‘A’ rating to EOS consolidated. This means that the agency regards the company’s credit standing as well above the average that prevails in the economy as a whole.

Aspect named Leading IP Contact Centre Vendor in Customer Survey

Tue, 03 Nov 2009 17:37:58 +0100

Aspect, a unified communications (UC) solutions provider, today announced it has won the 2009 PilotHouse IP Contact Center Award based on a customer survey report from Nemertes Research, a research-advisory firm.

Russian bailiffs mark their first professional holiday

Sun, 01 Nov 2009 22:34:22 +0100

Russian bailiffs mark their professional holiday for the first time this Sunday. President Dmitry Medvedev established the professional holiday in early September 2009.

Aktiv Kapital with stable performance in a challenging market

Wed, 28 Oct 2009 09:12:39 +0100

Aktiv Kapital reported a pre-tax cash flow per share of NOK 6.18 in the third quarter 2009, an increase of 12 percent compared to third quarter 2008. The NOK 1.75-1.85 billion collection target for 2009 is maintained. The Group experiences a significant increase in acquisition opportunities.

Aspect Appoints Peter Nicol as Vice President of Sales, Northern Europe

Thu, 22 Oct 2009 17:54:11 +0100

Aspect, a unified communications (UC) solutions provider, today announced the appointment of Peter Nicol as vice president of sales, Northern Europe.

Survey Reveals Delays in Pay Declining for U.S., Global Businesses

Tue, 20 Oct 2009 16:43:56 +0100

For U.S. businesses, getting paid for their products and services during the global economic recession is not a black-and-white issue-it's about staying out of the red.

Canadian bailiff pleads guilty to fraud, handed house arrest

Mon, 19 Oct 2009 17:58:11 +0100

A process server, from Kamloops, Canada, accused of defrauding or stealing from clients pleaded guilty in B.C. Supreme Court Friday.

End of imprisonment for debt urged by Irish law reform group

Mon, 19 Oct 2009 12:38:50 +0100

ENDING THE use of imprisonment for debt, preventive measures to address personal debt at an early stage, new non-judicial debt settlement procedures and the redrafting of the law on debt enforcement are among the provisional recommendations from the Law Reform Commission in its latest discussion paper.

Atradius Collections Launches International Debt Collection Handbook

Mon, 19 Oct 2009 12:31:39 +0100

Atradius Collections, the global expert in domestic and cross-border debt collections, releases today its comprehensive resource bank on debt collections procedures and practices around the world.

Charges against 12 US debt collectors

Mon, 19 Oct 2009 12:29:27 +0100

Attorney General Andrew M. Cuomo today announced the filing of criminal charges against 12 employees of several Buffalo-area debt collection companies for posing as law enforcement officials and threatening to have consumers thrown in jail unless they immediately paid off the debts that they supposedly owed.

Irish HSE to collect debts

Mon, 19 Oct 2009 12:24:53 +0100

The HSE expects to save a minimum of E3.5 million a year when the new National Credit Management Unit (NCMS) is fully operational, Irish Medical Times has learned.

Harare Improves Debt Collection

Mon, 19 Oct 2009 12:15:26 +0100

HARARE City Council which is owed US$28 million by ratepayers has introduced a special concession as part of its drive to get all residents in arrears to pay up.

Accounts Receivable Management Company Adding 600 New Employees

Mon, 19 Oct 2009 12:09:50 +0100

As the global economic collapse of last year settles out, most U.S. companies consider themselves fortunate to remain profitable. But during each recession, there are always those like United Recovery Systems who flourish in turbulent times.

Colorado Changes Web Address Required in Initial Collection Notices

Mon, 19 Oct 2009 12:06:21 +0100

The administrator for the Colorado Fair Debt Collection Practices Act (CFDCPA) issued a memorandum advising collection agencies the Web site address for the Colorado attorney general's office has changed to http://www.coloradoattorneygeneral.gov/ca.

Advent International acquires majority stake in financial service provider GFKL Financial Services

Mon, 19 Oct 2009 12:01:48 +0100

Apollo Launches TrueCollect

Wed, 14 Oct 2009 10:07:34 +0100

Apollo Enterprise Solutions, Inc., the leading provider of web-based payment, debt collection and debt recovery technologies, today announced the consolidation of its market-leading web collections solutions into one comprehensive offering, branded TrueCollect™.

Advent International acquires majority stake in financial service provider GFKL Financial

Mon, 12 Oct 2009 18:40:22 +0100

Advent International, the global private equity firm, has signed agreements to acquire a majority stake in GFKL Financial Services AG, a leading independent financial service provider for debt collection and debt purchase in Germany from a consortium of institutional investors. In addition, Advent will participate in a capital increase to strengthen GFKL’s equity base and to realise further growth. The purchase price was not disclosed. The acquisition is subject to closing conditions inclu ...

Court upholds decision to sell Telenor's stake in VimpelCom

Wed, 07 Oct 2009 18:28:31 +0100

A Moscow court rejected on Tuesday an appeal from Norway's Telenor to suspend an order by Russian bailiffs to auction its 26.6% stake in Russia's second largest mobile phone operator, VimpelCom.

Russian Court Adjourns Telenor Suit

Wed, 30 Sep 2009 18:12:41 +0100

A closely watched Russian lawsuit against Telenor ASA was adjourned again Thursday, prolonging a year-long legal battle and weakening the Norwegian company's position in negotiations with co-investor Alfa Group.

Commission consultation shows general support for end-date for SEPA migration

Tue, 29 Sep 2009 16:01:55 +0100

The European Commission has published the results of a public consultation launched in June 2009 (IP/09/884) on whether and how deadlines should be set for the migration of existing national credit transfers and direct debits to the new Single Euro Payments Area (SEPA) payment instruments.

Firms turn to debt collector as Dubai pay crisis deepens

Mon, 21 Sep 2009 20:30:25 +0100

Financial Solutions agency sees sevenfold jump in clients – who are chasing £7m in unpaid bills.

TouchStar CCS to Offer Enhanced Services from Noble Systems Acquisition

Wed, 16 Sep 2009 16:39:33 +0100

UK-based reseller Telecom Applications, trading as TouchStar Call Centre Software, is poised to benefit from Noble Systems’ acquisition of certain assets from Denver based TouchStar Software Corporation.

Unpaid debt surges in wake of crisis

Tue, 15 Sep 2009 22:50:58 +0100

The number of files opened by the Israeli Bailiff's Office jumped 10 percent in the first eight months of this year compared to the same period last year. This figure comes from an internal report compiled by the Bailiff's Office, the court agency that collects outstanding debts on court judgments.

FAC teams up with Chexx Inc. to provide international checks and electronic funds transfer

Mon, 14 Sep 2009 17:11:12 +0100

First Atlantic Commerce (FAC), a leading, international, multicurrency payment gateway and risk management solutions provider, and Chexx, Inc., a global remittance payment company, have joined together to offer simple, fast and affordable outgoing payment remittance and refunding solutions for FAC’s merchants around the world.

VocaLink new European centre in Amsterdam to support its growing customer base in the Benelux region

Mon, 14 Sep 2009 12:06:21 +0100

VocaLink, the international payments specialist, today announced the opening of its European centre in the World Trade Center, Amsterdam, in response to its growing customer base in the Benelux region. The new Dutch centre underpins VocaLink’s commitment to supporting clients in their local markets, whilst recognising that payment systems must provide international capability.

VocaLink pledges support for Oxfam Hong Kong at Sibos 2009

Mon, 14 Sep 2009 11:58:29 +0100

VocaLink, the international payments specialist, announced today that it will be supporting the Oxfam Unwrapped campaign at this year’s Sibos conference in Hong Kong. VocaLink aims to donate £10,000 (HK $130,000) to Oxfam Hong Kong, an Oxfam International affiliate, to support the work of the office local to the conference. The donation will be split between three Oxfam Unwrapped causes: family learning, school reconstruction and water pipe construction.

EOS Group buys Spanish debt collector

Fri, 11 Sep 2009 13:22:07 +0100

The Spanish Banco Pastor Group and the international EOS Group have reached an agreement by which EOS will acquire 100 per cent of the stakes in Acción de Cobro. Both parties have signed the contracts.

Cross-border euro payments scheme failing: EU

Fri, 11 Sep 2009 13:15:42 +0100

Countries should order banks to kickstart a flagging scheme to allow people to make quick and cheap electronic payments across European borders, the EU warned on Thursday.

Banco Pastor Group sells Acción de Cobro to international receivables management company EOS Group

Tue, 08 Sep 2009 18:01:18 +0100

VocaLink and KIR Announce Interoperability Agreement for SEPA Credit Transfers

Mon, 07 Sep 2009 16:05:33 +0100

VocaLink, the international payments specialist, today announced that it is working with KIR (Krajowa Izba Rozliczeniowa S.A.), the national clearing house for Poland, to establish a bilateral link for the exchange of SEPA Credit Transfer (SCT) payments based on the EACHA interoperability standards.

SWIFTReady accreditation for Tieto's payment solution

Mon, 07 Sep 2009 13:33:45 +0100

Tieto has obtained the SWIFTReady Payments 2009 label for its Payment Suite. The accreditation is proof of Tieto's capability to provide SWIFT-compliant solutions. This SWIFTReady label awarded by SWIFT confirms Tieto's standing as a vendor with a long track record in supplying high quality payment products.

Primorsky Krai Debtors will Face Suspension of Drivers License and Foreign Passport

Tue, 01 Sep 2009 08:56:48 +0100

Russian Government drafted a bill stipulating suspension of a debtor’s driver’s license, stated Artur Parfenchikov, Federal Bailiff Service Director, during his recent visit to Primorsky Krai.

Black Sea Fleet command calls provocative Ukrainian bailiffs intrusion

Thu, 27 Aug 2009 18:05:08 +0100

The Russian Black Sea Fleet command is indignant at Ukrainian bailiffs' penetration into the location of a Russian military unit.

5th International EOS Congress: Financial market 2009 Nothing is more constant than ...

Mon, 24 Aug 2009 17:13:59 +0100

In times of crisis, efficient receivables management takes centre stage. Which receivables management measures have the desired effect in difficult financial situations? How do I secure my company’s liquidity? These are just some of the topics for discussion at the Fifth International EOS Congress, which will be held on 15 and 16 October in the Swissôtel in Berlin under the slogan ‘Nothing is more constant than change’.

The British pay late but reliably

Fri, 21 Aug 2009 12:35:47 +0100

Scarcely two-thirds of invoices in the United Kingdom are paid within an average payment period of 31 days. This is one result from the EOS Five Nations Survey 2009 ‘European Payment Practices’.

Russia bailiff sees 'issues' with Telenor fine

Wed, 19 Aug 2009 18:42:00 +0100

Russian bailiffs said there are "issues" with the forced sale of Vimpelcom shares held by Norwegia's Telenor's to pay for a $1.7 billion fine, Interfax quoted the chief bailiff as saying on Tuesday.

EOS Group remains on course of growth

Mon, 17 Aug 2009 08:55:56 +0100

The EOS Group has continued with its course of growth in the 2008/2009 financial year: between 1 March 2008 and 28 February 2009, the international provider of receivables management, marketing and risk information, as well as payment services increased its consolidated sales by EUR 54.1 million to EUR 297.4 million.

Debtors get a break with suit

Sun, 16 Aug 2009 17:11:13 +0100

A class-action lawsuit against a debt-collection company has been settled, with the result that 2,371 Nebraskans on whom allegedly illegal methods were used in trying to collect bills will get at least some of their debt wiped out.

Unifund agrees to deal in Neb. collection case

Sun, 16 Aug 2009 17:05:20 +0100

More than 2,800 Nebraskans will share in a $148,625 settlement that a debt-collection firm agreed to pay because of questions about its practices.

Aktiv Kapital - Second quarter report for 2009

Thu, 13 Aug 2009 09:07:09 +0100

Aktiv Kapital achieved operating revenue of NOK 300.5 million (NOK 377.1 million) in the 2nd quarter of 2009, and an operating revenue of NOK 649.1 million (NOK 747.6 million) in the 1st half of 2009.

EOS Group with new Board member for Eastern European region

Mon, 10 Aug 2009 11:28:39 +0100

As of 1 August 2009, Dr Axel Steuernagel joined the Board of Directors at KG EOS Holding GmbH & Co and assumed responsibility for the Eastern Europe region. In the region, EOS is present in twelve countries and holds leading market positions. Mr Steuernagel is replacing Klaus Engberding, who was responsible for this business unit on a provisional basis from mid-2008 onwards. Mr Engberding will continue to be responsible for the Germany business unit.

Norway's Telenor loses appeal in Moscow court

Sun, 09 Aug 2009 20:24:38 +0100

Norway's Telenor lost another round of its Russian legal battle on Thursday, when a Moscow appeals court rejected its latest attempt to delay the enforcement of a $1.7 billion fine owed to Russian telecoms firm Vimpelcom.

Firstsource earnings news

Wed, 29 Jul 2009 17:33:43 +0100

Firstsource Solutions Limited, among India's leading pure-play BPO companies, reported its consolidated financial results for the quarter ended June 2009 according to Indian GAAP.

EOS Five Nations Survey 2009

Wed, 29 Jul 2009 17:18:43 +0100

Three out of four invoices (77%) are paid on time in Germany – in southern Germany the figure is even 79%. Furthermore, the average payment period of 25 days that is granted to clients by German companies is shorter than in any of the other four countries surveyed.

Telenor loses Moscow suit on Vimpelcom stake sale

Wed, 29 Jul 2009 09:48:14 +0100

Norway's Telenor lost a lawsuit on Tuesday to block a forced sale of its stake in Russian mobile firm Vimpelcom but promised to appeal the decision.

1.9m Foreclosure Filings Reported on More Than 1.5 Million U.S. Properties in First Half of 2009

Thu, 16 Jul 2009 16:45:24 +0100

RealtyTrac, the leading online marketplace for foreclosure properties, has released its Midyear 2009 U.S. Foreclosure Market Report, which shows a total of 1,905,723 foreclosure filings -- default notices, auction sale notices and bank repossessions -- were reported on 1,528,364 U.S. properties in the first six months of 2009, a 9 percent increase in total properties from the previous six months and a nearly 15 percent increase in total properties from the first six months of 2008. The report al ...

Action on foreign debt rises by 19% - tips to deal with foreign late payment

Wed, 15 Jul 2009 17:29:58 +0100

Legal action to secure payment from foreign debtors is on the rise according to Lovetts, one of the UK’s leading debt recovery law firms. The number of Letters Before Action (LBAs) being issued on behalf of UK businesses to foreign debtors has increased 19% Q1 2009 vs Q1 2008.

Swiss-Made Direct Debits for Europe - SIX Group Launches new SEPA Service for the European ...

Thu, 09 Jul 2009 16:53:14 +0100

SIX Group, the Swiss financial market infrastructure provider, will offer a SEPA-compatible direct debit service in cooperation with the SECB Swiss Euro Clearing Bank, Frankfurt, starting November 2, 2009.

Council advertises for bailiffs to clear Traveller's sites

Wed, 08 Jul 2009 18:20:48 +0100

Basildon council has published a notice seeking expressions of interest from bailiffs to potentially carry out the eviction of Travellers at Dale Farm and Hovefields Drive.

Academy Collection Service Sold to Senior Management Group

Wed, 08 Jul 2009 09:26:55 +0100

Academy Collection Service, Inc., a Philadelphia-based third party collection agency, was sold to three of its senior managers through a newly formed holding company, Monarch Recovery Management, Inc.

Equifax Launches New Debt Freedom Product

Tue, 07 Jul 2009 16:53:38 +0100

Equifax today launched Debt Wise(TM), an innovative product that uses information from the Equifax Credit Report(TM) to empower consumers to free themselves from debt--faster.

EOS opens new company in Croatia

Wed, 29 Apr 2009 09:13:11 +0100

EOS Group has entered the Croatian market. The new local company EOS Matrix d.o.o. has, since March 1, been offering debt collection, debt purchase as well as collection training and consulting to clients.

Storebrand Bank extends its agreement with EDB

Wed, 15 Apr 2009 10:19:19 +0100

Storebrand Bank ASA has extended and expanded its agreement with EDB Business Partner ASA for the delivery of payment services and bank operating solutions to the bank. The agreement runs to January 2014, and represents total contract value of around NOK 100 million.

Telenor Served With Claim for $1.7 Billion in Norway

Mon, 06 Apr 2009 15:04:13 +0100

Telenor ASA, the biggest Nordic phone company, said it won¹t pay a $1.7 billion fine linked to a Russian court case, after a claim was served by a Norwegian bailiff.

Anglian Water chooses Experian for arrears management

Wed, 01 Apr 2009 08:49:03 +0100

Anglian Water, which serves six million industrial, commercial and domestic customers in the east of England, has chosen Experian's Tallyman debt management and collection software to help manage customers in arrears and collect unpaid bills.

SunGard and Experian extend address verification

Tue, 10 Mar 2009 10:10:55 +0100

SunGard Higher Education and Experian QAS have expanded their relationship and product integration to help higher education advancement offices improve data entry efficiency, mail delivery rates, and communication with alumni and other constituents.

EU - Payment Services Directive

Mon, 09 Mar 2009 22:52:04 +0100

There are only eight months remaining for payment service providers to prepare for the Payment Services Directive (PSD), a new EU harmonisation law that will impact all payments, particularly those made into and out of bank current accounts.

Aktiv Kapital - Lindorff kickstarts collections in Spain

Sat, 07 Mar 2009 10:30:52 +0100

Lindorff has kickstarted its greenfield operations in Spain as of March 3, where a former Aktiv Kapital collections centre in Barcelona with 38 employees has been transferred to Lindorff.

Experian appoints Simon Waller to lead collections business

Tue, 03 Mar 2009 09:21:56 +0100

Experian, has confirmed the appointment of Simon Waller as its Head of Collections, UK and Ireland.

Aktiv Kapital staff cuts, offices close, profits down, collections strong

Thu, 26 Feb 2009 08:30:35 +0100

Leading debt buyer Aktiv Kapital announced its Q4 2008 results and end-year figures earlier this morning in Oslo.

VAT rules on invoicing

Tue, 24 Feb 2009 22:11:34 +0100

The European Commission has recently proposed a review of the VAT rules on invoicing with a view to reduce burdens on business and to help Member States to tackle fraud.

Experian increases collections insight with new data enhancement service

Wed, 18 Feb 2009 14:04:32 +0100

Experian, the global information services company, today launched a new data enhancement service for the UK collections market. Powered by Experian’s data and analytics, the new service will help lenders and collections houses improve customer insight by scoring and appending a range of valuable information to customer files.

Orange Poland upgrades fraud management capability

Tue, 17 Feb 2009 14:29:52 +0100

Orange Poland is celebrating the ‘go live’ of its new fraud management solution provided by risk management software vendor Neural Technologies.

PIC Solutions agency management service boosts collections returns

Sat, 14 Feb 2009 19:56:24 +0100

By taking advantage of Agency Management Service, the latest addition to the PIC Solutions market leading product range, credit providers can improve their net collections return by up to 14%. PIC Solutions demonstrated this improvement by analysing a South African retailer’s 24-month billing information and compared results with current industry best practice.

Tieto profitability on track

Tue, 10 Feb 2009 14:22:16 +0100

Tieto's fourth-quarter net sales remained at the same level as in the fourth quarter of 2007 and amounted to EUR 492.0 (491.3) million. As 27% of Tieto's net sales are generated in Sweden, the weakened Swedish currency (SEK) had a negative impact on net sales in euros. In local currencies, net sales grew by 4%. Operating profit, excluding one-off items related to the Performance Improvement Programme, amounted to EUR 42.4 (39.1) million, representing a margin of 8.6% (8.0).

Sidetrade turnover up 20%

Tue, 10 Feb 2009 13:58:01 +0100

Sidetrade, the European leader in optimisation solutions for credit management provided as SaaS (Software as a Service), has announced 2008 results confirming the growing success in the SaaS model.

EU Expert Group on E-invoicing calls for removal of barriers

Tue, 10 Feb 2009 13:50:04 +0100

The Expert Group on Electronic Invoicing published its interim report today, which sets out a vision for a European Electronic Invoicing (EEI) Framework. Despite having great potential, the Expert Group asserts that e-invoicing, the electronic transfer of billing and payment information between supplier and buyer, is still held back by a number of barriers before it could achieve mass-adoption. The mid-term report sets out a number of initial recommendations to remove or reduce these barriers.&n ...

Aktiv Kapital UK new country manager

Wed, 04 Feb 2009 10:31:45 +0100

We are pleased to announce that David Sheridan is appointed and has accepted the role as Country Manager for Aktiv Kapital UK. Aktiv Kapital UK is based in Bromley outside London and in Chester.

PIC Solutions opens Abu Dhabi office

Tue, 27 Jan 2009 13:49:20 +0100

PIC Solutions, the leading credit risk management consultancy in the Middle East and Africa region, will expans its footprint in the Middle East with the opening of a new office in Abu Dhabi on 1 February 2009.

Neural Technologies and DirecTV fraud project wins award

Tue, 20 Jan 2009 20:54:28 +0100

Risk management software solution provider, Neural Technologies, has been presented with an Organisational Excellence Award from the British Computer Society (BCS) for the work it carried out with DirecTV, the US’s leading digital TV entertainment provider.

Aktiv Kapital will reduce annual cost with more than NOK 100m

Mon, 19 Jan 2009 16:17:35 +0100

Aktiv Kapital is committed to reduce the cost base with more than 10 percent to improve profitability and prepare the Company for more financially challenging times.

Transcom appoints new president and CEO

Thu, 15 Jan 2009 12:34:18 +0100

Transcom WorldWide S.A., the global outsourced services company, today announces that Keith Russell, President and Chief Executive Officer, will leave the Company and will be replaced by Pablo Sanchez-Lozano as the next President and Chief Executive Officer of the Company.

PIC Solutions partners with leading Pakistani systems integrator

Tue, 13 Jan 2009 16:26:59 +0100

PIC Solutions, the leading specialist credit risk solutions company in the EMEA region, has forged a partnership with respected Pakistani systems integrator, National Data Consultant Pvt. Limited (NDC).

New insolvency rules do not go far enough

Tue, 13 Jan 2009 16:14:24 +0100

Four in five UK suppliers may have to write off unpaid debt due to ineffectual new rules for pre-pack insolvency arrangements; where a buyer is lined up before an insolvency technically occurs and without creditor agreement.

SME credit insurance service launched

Mon, 05 Jan 2009 11:19:39 +0100

With insolvencies set to increase in 2009, some 20% more of SMEs have turned to credit insurance this year to protect their balance sheet than in 2007. In response, the UK’s leading credit insurance broker Aon Trade Credit has launched Aon Tradeability.

TietoEnator establishes a new Performance Share Plan and share ownership guideline

Thu, 18 Dec 2008 17:40:46 +0100

The Board of Directors of TietoEnator Corporation has approved a new share-based incentive plan (Performance Share Plan 2009-2011) to be offered to the president and ceo and other members of the leadership team, share ownerships guideline for the president and ceo and other leadership team members and decided to continue preparations to launch an Option Plan for the key personnel of TietoEnator.

Outlook for Polish debt management is good

Wed, 17 Dec 2008 16:38:02 +0100

Piotr Krupa, chairman of KRUK SA, has no worries about the way debt management is going in Poland.

Schools, building industry and lawyers worst affected by late payments

Fri, 12 Dec 2008 00:00:00 +0100

The European business community is missing out on a record amount of minimum €250 billion as a consequence of overdue invoices.