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CPS to Pay $5.5 Million to Settle FTC Charges

The FTC charged the subprime finance source with using illegal tactics to service and collect on consumer loans, including collecting money consumers did not owe, harassing consumers and third parties, and disclosing debts to friends, family and employers.

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Vehicle Acceptance Corporation joins NIADA National Member Benefit Program

VAC’s entrance into the program will provide NIADA members across the country with cash advance and collection services.

Better Collections Through Technology

Repossessing a vehicle is never a good thing, but technology has certainly come a long way in helping dealers do just that. The Special Finance Coach discusses how to keep customers on time with their payments, as well as how social-networking sites like Facebook can help when they’re not.

NACM Sees Marked Improvement in Credit Performance

While there’s been some signs of improvement in credit availability and retail sales, there’s been little positive news regarding payment on debt and the number of accounts placed for collections. That changed in September for the first time since the economy started to seriously bottom out, according to the National Association of Credit Management (NACM)’s Credit Managers’ Index (CMI).

PROCON Inc. Launches New Payment Assurance Technology Brand

PROCON Inc. unveiled LoanPlus, a new payment assurance brand, which uses GPS telemetrics, customized Web services and customer service teams to support financial lending institutions in their collections and operations management.