2011

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2011

  1. 1. VOLUME 6, ISSUE 1 The Official Newsletter of National Recovery Agency January/February 2011NRA Today“A Responsible Revenue Recovery Company™” 2007 ~ 2008 ~ 2009 ~ 2010New Mexico Attorney General Releases Rule Regarding CollectingTime-Barred DebtDBA International 12/15/10 1. “We are required by New make any payment of the debt; Mexico Attorney General Rule sign a paper in which you admit On Dec. 15, 2010, the New to notify you of the following that you owe the debt or in whichMexico Attorney General released information. This information is not you make a new promise to pay;a rule concerning the collection of legal advice.”; sign a paper in which you give uptime-barred debt in New Mexico. 2. The debt is or may not be (“waive”) your right to stop theThe rule requires debt collectors enforceable through lawsuit debt collector from suing you into determine whether a debt is because the applicable statute of court to collect the debt.time-barred and provide certain limitations has or may have expired; In written communicationsdisclosures when collecting time- 3. If the debt is time-barred, the the disclosure is required to bebarred debt in New Mexico. The consumer cannot be required pay clear, in plain language andrule defines time-barred debt as through a lawsuit; conspicuously placed on the front“any debt that is not enforceable 4. Admission, affirmation orin a judicial proceeding because acknowledgment of the debt,the applicable statute of limitationshas run.” A copy of the final rule, a promise to pay the debt, payment of the debt or a waiver Inside this issue:as well as the Attorney General’s of the consumer’s rights regardingstatement regarding adoption the expiration of the statute ofof the rule, is available on ACA’s limitations is not required; and New Mexico AG Releaseswebsite. 5. The consequences of reviving Rule Regarding Collecting The rule is effective Dec. the statute of limitations by Time Barred Debt 15, 2010. In response to a request acknowledging the debt, promising P.1by ACA, the Attorney General to pay the debt or waiving the will delay enforcement of the rule statute of limitations. NRA Kicks off Healthyuntil March 15, 2011. However, The rule provides a model Employee Contest P.2ACA’s Compliance Department disclosure deemed to be in is currently reviewing whether compliance with the rule (ITALICS NOT REQUIRED): SSAE 16 Overview P.3a consumer may immediatelyenforce this new rule. ACA We are required by New Mexicomembers should immediately Attorney General Rule to notify you Harrisburg ranks amongreview this new rule and undertake of the following information. This top 10 cities for business P.4appropriate internal review of information is not legal advice:their policies and procedures to This debt may be too old for New Federal Law Bansdetermine steps to comply with the you to be sued on it in court. If it is Caller ID Manipulation P.6rule. too old, you can’t be required to If the debt collector has pay it through a lawsuit. Social Security Checksreason to know or knows a debt You can renew the debt and start the time for the filing of a going electronic P.7is time-barred, the collectormust inform the consumer of the lawsuit against you to collect thefollowing: debt if you do any of the following: © 2009-2010 National Recovery Agency. All Rights Reserved.®
  2. 2. NRA TODAY January/February 2011 Volume 6 Issue 1 METHODS OF ACCEPTABLE PAYMENT: National Recovery places great emphasis on the importance of recovering our client’s portfolio. In addition to traditional methods of payment such as cash, money orders, personal, bank, and certified checks, we accept the following methods of debtor payment over the phone; as well as the ability to pay online at www.nationalrecovery.com. • Western Union/Quick Collect • Credit AND DEBIT Cards • MoneyGram • Bank Wire • Check By Phone NRA KICKS OFF ITS BIGGEST LOSER CONTEST ON FEBRUARY 4, 2011NRA is in its final stages of developing its NEWconsumer site at www.nationalrecovery.com. For many people, adding lean protein to the dietImplementing the new site is expected to be may promote healthy weight loss. Protein lends amade available to the public by March 1, 2011 feeling of satiety—especially when combined with fiber—and also provides a platform for exercise. Experts believe protein helps with weight loss in part because of an increase in thermogenesis, NRA RECOGNIZED AS: meaning the body burns more calories just to digest higher–protein foods. Today, challenge yourself to learn protein basics and up your protein intake. Remember: Not all proteins are equal—replace high–fat foods and highly refined carbohydrates with lean protein sources only. Sponsored by: THE WALL STREET JOURNAL © 2009-2010 National Recovery Agency. All Rights Reserved.®
  3. 3. NRA TODAY January/February 2011 Volume 6 Issue 1CONSUMER REPORTS MAGAZINE SSAE 16 OverviewSURVEY STATISTICS Statement on* One-third of Americans do not own a credit card. Standards for Attestation* 54% pay their balance in full each month. Engagements (SSAE) No.* 33% carry balances up to $10,000 (median balance: 16, Reporting$2,254) on Controls at a Service* 13% carry balances over $10,000 (median balance: Organization,$17,366) was finalized by the Auditing* 21% of consumers said they were treated unfairly by card Standards Boardcompanies and 32% have paid off and closed a card since of the AmericanJanuary 2008. Institute of Certified Public Accountants (AICPA) in* 16% canceled their cards in response to the actions of January 2010. SSAE 16 effectively replaces SAS 70 ascredit-card issuers cutting limits, hiking rates, or imposing the authoritative guidance for reporting on servicefees. organizations. SSAE 16 was formally issued in April 2010 with an effective date of June 15, 2011. You can order* 45% of survey respondents say they are charging less. a copy of SSAE 16 from the AICPA’s online store at http://www.cpa2biz.com - publication number 023035.* 11% are charging more than they did a year ago. SSAE 16 was drafted with the intention and purpose of updating the US service organization reporting standard so that it mirrors and complies with the new LET US “HOOK” YOU UP BY international service organization reporting standard TURNING YOUR OUTSTANDING – ISAE 3402. DEBT INTO LIQUID CAPITAL. For service organizations that currently have a SAS call us today!! 70 service auditor’s examination (“SAS 70 audit”) performed, some changes will be required to effectively reporting under the new SSAE 16 standard. 1/800-360-9953 OR VISIT US ONLINE AT Additional information on SSAE 16 and Service WWW.NRAGROUP.COM Organization Control reports can be viewed at the AICPA’s new web page (http://www.aicpa.org/soc). IDENTITY THEFT, FRAUD* The number of U.S. identity fraud victims rose 12% National Recovery Agency will be “Bowling forto 11.1 million adults in 2009. Kids’ Sake” for the third consecutive year. This annual fundraiser benefits Big Brothers Big Sisters* Women were 26% more likely to be victims of of the Capital Region.identity fraud than men. Bowl For Kids’ Sake is more* The average fraud resolution time dropped 30% than a couple of hours ofto 21 hours. bowling. It’s Big Brothers Big Sisters’ THANK YOU* Arizona has the highest and South Dakota has the for helping raise funds forlowest identity theft complaints per 100,000 people. mentoring programs! © 2009-2010 National Recovery Agency. All Rights Reserved.®
  4. 4. NRA TODAY January/February 2011 Volume 6 Issue 1 Hours a day Americans in debt worry about money NAVIGATE WEBINAR Conducted by Trish Moritz, Director Client Service 4 hours FEBRUARY 23, 2011 at 2:00 E.S.T. or more 22% Must register by Friday February 1-3 hours 18, 2011 - REGISTRATION IS FREE! 63% 0 hours Register via email to Trish 15% tmoritz@nationalrecovery.com An invite and instructions for the Average Go To Meeting will be sent on Hours: 3.3 Monday February 20, 2011 Source: FreeScore.com surveyHarrisburg ranks among top 10cities for business VIEW YOUR ACCOUNTS ON-LINE WITH “NAVIGATE”. WWW.NRAGROUP.COMWednesday, December 22, 2010 THIS IS A USER-FRIENDLY AND SECURE SITE THAT YOU CANBy Eric Veronikis USE TO CHECK THE STATUS OF YOUR ACCOUNTS, UPLOAD FILES AND MORE. NAVIGATE IS A CONVENIENT SITE FOR OURHarrisburg ranked ninth in the U.S. on a financial CLIENTS.information and news website’s Best Cities for Business FOR LOGIN INFORMATIONlist. PLEASE CONTACT CLIENT SERVICES!Marketwatch.com included 102 cities in its annualsurvey. Scores are based on the concentration ofbusinesses within a metro area and other metrics,including unemployment, job growth, populationgrowth, personal income and local gross domesticproduct. Total scores are made up by company score Bankruptcyand economic score for each city.Harrisburg jumped 25 spots on the list this year with the Filings Jump In 2010help of metrics included in the survey, the HarrisburgRegional Chamber and Capital Region Economic The number of U.S. consumers who filed forDevelopment Corp. said yesterday. The city ranked in bankruptcy in 2010 topped 1.5 million last year,the top third of cities surveyed in tourism and military up 9% compared with 2009 as high long-termGDPs, and it ranked among the top 10 cities with the jobless rates and depressed home prices drovehighest personal income levels. Harrisburg benefits from more households to seek court protection.being a small city with a few influential companies in itsbackyard, according to marketwatch.com.Washington, D.C., topped this year’s list. © 2009-2010 National Recovery Agency. All Rights Reserved.®
  5. 5. NRA FILE TRANSFER VERIFICATION FORMPLEASE FORWARD THIS INFORMATION TO THE INDIVIDUAL WHO PLACES YOURACCOUNTS WITH OUR AGENCY.Effective immediately, the following process applies to any and all clients who are referring accountselectronically to NRA. When referring an account file electronically, please use the format belowto ensure timely download/upload of your data. It is suggested that you save this page and submitit with each electronic file.FILE NAME:DATE OF TRANSFER: CLIENT NAME: CONTACT NAME: CONTACT PHONE: CLIENT NUMBER: PLACEMENT TOTALS TOTAL NUMBER OF ACCOUNTS PLACED DOLLAR VALUE OF ACCOUNTS PLACED $ PLEASE SUBMIT THIS FORM TO INTSUP@NATIONALRECOVERY.COM If you have any questions, please feel free to call IT Support at 1-800-360-9953 x 6736
  6. 6. NRA TODAY January/February 2011 Volume 6 Issue 1Continued from page of the page. If the communicationis oral, the disclosure must be New Federal Law Bansmade verbally immediatelybefore or after the first statement Caller ID Manipulationrequesting payment. If no requestfor payment is made during oral The Truth in Caller ID Act of 2009communication, the disclosure was signed into law Dec. 23, 2010.must be made immediately after The Act amends the Telephonethe first reference of the debt. Consumer Protection Act by The disclosures are required adding a new section that prohibitsfor both initial and subsequent any person, in connection withcommunications. any telecommunications service or Importantly, the rule Internet Protocol-enabled service, January Februaryspecifically states the above from causing a caller ID service to Penni Lee Robin Kirkpatrickdisclosures must be given only to knowingly transmit misleading or Tandra Walker Shell Sharmathose consumers whom the debt inaccurate caller ID information Susan Russell Fran Simmonscollector reasonably and in good with the intend to defraud, cause Brandi Clark Sandra Ortizfaith determines owe a debt that is harm or wrongfully obtain anything Faith Farr Kevin Portertime-barred. of value. Mallory Herman Biancha Tatum Janet HernandezLastly, if a debt collector makes an The Truth in Caller ID Act broadly Schkira Washingtonerroneous determination regarding applies to any person attempting Yvonne Rubythe status of a debt, the collector to manipulate a caller ID service, Tiffany Risermay not be liable for a violation of including third-party debt Shantee Williamsthe rule if the collector exercised collectors, creditors and asset Melvin Rojoreasonable efforts to determine buyers. Dashea Chesterwhether the debt was time-barred. The Federal Trade CommissionDocumentation must be provided is in charge of developing andin support of the collector’s implementing regulations relateddetermination for the defense to to the Act no later than June 23, 2011.stand. Seven States RaiseA violation of the rule constitutes aviolation of the New Mexico Unfair Minimum WagePractices Act. UPCOMING EVENTS DOL.gov - Dec. 9, 2010ACA, the New Mexico CollectorsAssociation, and other groups such Minimum wage rates will change inas DBA International submitted Arizona, Colorado, Montana, Ohio,comments opposing the rule and DBA International 14th Annual Oregon, Vermont, and Washington,offering alternative solutions when Conference as of Jan. 1, 2011. The Departmentthe rule was originally proposed in The Mirage Casino Hotel of Labor notes the states’ averageearly 2009. Although the final rule Las Vegas, NV increase is 10 cents per hour. Increasesadopted or incorporated certain February 8 - 10, 2011 of 12 cents per hour in Colorado andsuggestions and commentary from Washington top the list with the highestACA and other groups, ACA was changes set to take effect.unaware of any revised version of Platts 10th Annual Credit Andthe rule between June 2009 and Collections Conference for UtilitiesDecember 2010. ACA will continue Correction to December’s Issue:to communicate with the New Hyatt Regency Grand Cypress Jerry Livingston has been employed withMexico Attorney General’s office Orlando, FL NRA for more than 14 years.to seek clarification of the new rule March 1-3, 2011as appropriate. © 2009-2010 National Recovery Agency. All Rights Reserved.®
  7. 7. NRA TODAY January/February 2011 Volume 6 Issue 1 Soon the government save $1 billion over the next decade from phasing out paper checks, he said. check won’t be in the mail The final rules, scheduled to be unveiled Government announces Tuesday, are very similar to the proposal the government put forward in June. Ask Dr. Debt deadline for phasing out But in response to public comments, the Consumers seeking solutions paper benefit checks government has decided to allow people to debt problems have a new who are 90 and over and are still getting online resource through including Social Security Social Security benefit checks to continue Ask Dr. Debt, a financial to receive their benefits the same way. The Martin Crutsinger, AP Economics Writer, government estimates there are 275,000 education Web site that ACA On Tuesday December 21, 2010 people who fall into that category. International -- a nonprofit For people who do not have accounts at WASHINGTON (AP) -- Before too long, credit association unveiled. a bank or credit union, the government the government check will no longer “It’s essentially an online has an option that allows be in the mail. version of ‘Dear Abby’ for them to use a Direct Officials have settled “Switching now eliminates Express debit MasterCard consumers with credit and on the dates when the risks of lost and stolen issued by Comerica Bank, debt questions,” John Nemo, millions of people will checks and provides Treasury’s financial agent. no longer be able to public relations director immediate access to your More than 1.5 million get their Social Security for ACA International, money on payment day,” people have obtained and other benefit these cards, which were said in an e-mail. Nemo checks by mail. first issued in 2008. said visitors to the site New recipients of In addition to the benefits will have to will be able to search a automatic waiver from accept paperless payments starting on database of frequently asked electronic payments for those 90 and over, May 1 of next year, three months later questions and submit their people living in remote areas who might than first proposed. have trouble getting to a bank can also own. Ask Doctor Debt also Those already on Social Security will petition for a waiver from the new rules. contains interactive tools have until March 1, 2013 to make the Gregg said that the government expects switch to direct deposits or a debit to educate consumers, such fewer than 1 percent of current benefit card. as budget calculators and recipients will petition for a waiver. More than 58 million retirees, disabled Social Security Commissioner Michael J. a free personal financial people and surviving family members Astrue said that people should not wait management Web course. receive Social Security or Supplemental until the deadlines to make the switch to Security benefits. Already eight out electronic payments. of 10 people getting federal benefits “Switching now eliminates the risks of lost receive those payments electronically,DID YOU KNOW ? officials say. and stolen checks and provides immediate access to your money on payment day,” The switch to electronic payments willNational Recovery Agency Astrue said. eliminate the problem of lost or stolen is PPMS, PCI-DSS and The new deadlines for the switchover checks and also the problems faced were announced by Treasury’s FinancialSAS-70 Type II Certified by people displaced from their homes Management Service, the agency that who have to worry about getting their processes payments for the federal checks mailed to them, said Richard government. L. Gregg, the Treasury Department’s Congress passed a law in 1996 giving the assistant fiscal secretary. agency the power to halt mailing paper “Even though we have done a good checks for all government payments job of encouraging people to switch outside of refund checks from the Internal over, we still are making 120 million Revenue Service. payments by mail for Social Security To help with the switchover for those still every year and another 15 million getting paper checks, the government has annually for veterans and other types created a website, http://www.GoDirect. NRA IS LOOKING FOR of benefits,” Gregg said. org and a toll-free phone number, 1- GOOD EMPLOYEES!! Every year, the government has to 800-333-1795, that people can call for process about 600,000 claims for lost assistance. or stolen checks. Social Security will © 2009-2010 National Recovery Agency. All Rights Reserved.®
  8. 8. VOLUME 6, ISSUE 2 The Official Newsletter of National Recovery Agency Special Edition - February 2011NRA Today“A Responsible Revenue Recovery Company™” 2007 ~ 2008 ~ 2009 ~ 2010Court Rules FDCPA Applies to Communications with Debtor’s Attorneyby insideARM.com StaffJanuary 14, 2011The U.S. Court of Appeals for exempted its communications recognized for its guidance inthe Third Circuit has ruled that with the debtor’s attorney from structuring and documenting newthe federal Fair Debt Collection FDCPA liability. The Third Circuit consumer financial services products,Practices Act (FDCPA) applies to a remanded the case to the District its experience with the full range ofdebt collector’s communications Court, indicating that whether the federal and state consumer creditwith the debtor’s attorney. plaintiff had stated a viable FDCPA laws throughout the country, and claim depended only on whether its skill in litigation defense andIn Allen v. LaSalle Bank, issued on the amounts the collection avoidance (including pioneeringJanuary 12, 2011, the Third Circuit firm attempted to collect on work in pre-dispute arbitrationreversed the District Court, which her mortgage were expressly programs). For more information,had dismissed the plaintiff’s claims authorized by the loan agreement please contact group Chair Alan S.that letters sent to her attorney or permitted by law. Kaplinsky, 215.864.8544by a law firm representing the The federal courts of appeals areservicer of her defaulted home split on the issue of whether themortgage violated the FDCPAprovision making it an “unfair or FDCPA applies to communications from a debt collector to a debtor’s Inside this issue:unconscionable” practice for attorney. In ruling that the FDCPAa debt collector to collect or does apply, the Third Circuit joinsattempt to collect unauthorized the Fourth Circuit. The Second Court Rules FDCPA Appliesamounts. The Third Circuit rejected Circuit has stated in dicta and to Communications withthe District Court’s holding that the Ninth Circuit has ruled that Debtor’s Attorney P.1communications to a debtor’s statements made exclusively attorney should be analyzed to a debtor’s attorney are notfrom the perspective of a SSAE 16 Overview actionable under the FDCPA.competent attorney for purposes of Navigate Webinar Set P.2determining whether they violate Reprinted with permission from the FDCPA. Ballard Spahr LLP Court Ruling Increases The onslaught of FDCPA claims Requirements for DebtCharacterizing the FDCPA as “a in recent years and decisions Collection Lawsuits P.4strict liability statute,” the Third such as Allen show, once again,Circuit observed that “it would the need for collection firms to NRA Launches Newundermine the deterrent effect exercise extreme caution in their Consumer Website P.4of strict liability” if an otherwise operations. Ballard Spahr lawyersimproper communication could regularly consult with their clientsescape FDCPA liability because engaged in consumer debt Bill Collectors Faceit was directed to the debtor’s collection on the application Disclosure Rules P.6attorney. The Court also rejected of the FDCPA and state debtthe collection law firm’s argument collection laws.that New Jersey’s litigation privilege Ballard Spahr’s Consumer Financial Services Group is nationally © 2009-2011 National Recovery Agency. All Rights Reserved.®
  9. 9. NRA TODAY February - Special Edition 2011 Volume 6 Issue 2 SSAE 16 OverviewMETHODS OF ACCEPTABLE PAYMENT: Statement on Standards forNational Recovery places great emphasis on the importance Attestation En-of recovering our client’s portfolio. In addition to traditional gagements (SSAE)methods of payment such as cash, money orders, personal,bank, and certified checks, we accept the following No. 16, Reportingmethods of debtor payment over the phone; as well as on Controls at athe ability to pay online at www.nationalrecovery.com. Service Organiza- • Western Union/Quick Collect tion, was finalized • Credit AND DEBIT Cards by the Auditing • MoneyGram • Bank Wire Standards Board • Check By Phone of the American Institute of Certified Public Accountants (AICPA) in January 2010. SSAE 16 effectively replaces SAS 70 as the authoritative guidance for reporting on service organizations. SSAE 16 was formally issued in April 2010 with an effective date of June 15, 2011. You can order a copy of SSAE 16 from the AICPA’s online store at http://www.cpa2biz.com - publication number 023035. SSAE 16 was drafted with the intention and purpose of updating the US service organization reporting standard so that it mirrors and complies with the new international service organization reporting standardNAVIGATE WEBINAR – ISAE 3402. For service organizations that currently have a SAS 70 Conducted by Trish Moritz, service auditor’s examination (“SAS 70 audit”) per- formed, some changes will be required to effectively Director Client Service reporting under the new SSAE 16 standard. FEBRUARY 23, 2011 at 2:00 E.S.T. Additional information on SSAE 16 and Service Orga- nization Control reports can be viewed at the AICPA’sMust register by Friday February new web page (http://www.aicpa.org/soc).18, 2011 - REGISTRATION IS FREE! Register via email to Trish National Recovery Agency will be “Bowling fortmoritz@nationalrecovery.com Kids’ Sake” for the third consecutive year. This annual fundraiser benefits Big Brothers Big SistersAn invite and instructions for the of the Capital Region. Go To Meeting will be sent on Bowl For Kids’ Sake is more Monday February 20, 2011 than a couple of hours of bowling. It’s Big Brothers Big Sisters’ THANK YOU for helping raise funds for mentoring programs! © 2009-2011 National Recovery Agency. All Rights Reserved.®
  10. 10. NRA FILE TRANSFER VERIFICATION FORMPLEASE FORWARD THIS INFORMATION TO THE INDIVIDUAL WHO PLACES YOURACCOUNTS WITH OUR AGENCY.Effective immediately, the following process applies to any and all clients who are referring accountselectronically to NRA. When referring an account file electronically, please use the format belowto ensure timely download/upload of your data. It is suggested that you save this page and submitit with each electronic file.FILE NAME:DATE OF TRANSFER: CLIENT NAME: CONTACT NAME: CONTACT PHONE: CLIENT NUMBER: PLACEMENT TOTALS TOTAL NUMBER OF ACCOUNTS PLACED DOLLAR VALUE OF ACCOUNTS PLACED $ PLEASE SUBMIT THIS FORM TO INTSUP@NATIONALRECOVERY.COM If you have any questions, please feel free to call IT Support at 1-800-360-9953 x 6736
  11. 11. NRA TODAY February - Special Edition 2011 Volume 6 Issue 2Court Ruling Increases Requirementsfor Debt Collection Lawsuits NRA LAUNCHES NEW CONSUMER SITEinsideARM.com – February 10, 2011 Through the new website, consumers canA recent state appellate court ruling requiring debt communicate with NRA, 24 hours a day, 7 days a week,purchasers to provide documented proof of account 365 days a year. They are provided with payment optionsownership as part of its evidence to bring a lawsuit in resolving their debt and information on what to do ifagainst a debtor foreshadows changes for debt buyers’ they’ve been contacted by NRA. Consumers have theand collectors’ use of the court system, according to option of communicating with via email or opt to have aone ARM legal expert. representative call them with just the click of a button.On February 1, the Second Division of the Illinois FirstDistrict Appellate Court ruled that collection agencies “Consumers are looking for a way tofiling a lawsuit to collect a claim on a debt buyer’s communicate better with our staff,” said Steve Kusic,behalf must include copies of all previous owners, the Chief Executive Officer. “Today, more and moredate of assignment to those owners, and the amount consumers are using the Internet to communicatepaid by the debt buyer. and make payments. With the launch of www. nationalrecovery.com, consumers searching theTypically, collection attorneys are allowed to submit Internet for NRA will quickly find the tools they need toto the courts a list of delinquent accounts with some communicate with us.” They will also find the resourcesidentifying consumer information and amounts owed needed to assist them if they are a victim of Identity Theftto initiate a lawsuit. But in Unifund CCCR Partners v. and how to obtain credit report information.Mohammad Shah, the three-judge panel unanimouslyagreed that Illinois law requires more than an affidavitof the debt’s chain of title to prove assignment. JusticeMaureen E. Conner wrote that state law requires that an Check it out ataffidavit must accompany copies of each assignmentto ensure that the person suing someone has the legal www.nationalrecovery.comright to do so.Collection attorney Ronald Canter, of The Law Clients: for information regardingOffices of Ronald S. Canter, LLC in Rockville, Md., your accounts placed with NRA,said the court’s decision reflects a growing trend ofrequiring debt collection professionals to provide more please visit www.nragroup.com andpaperwork if they want to sue debtors. access NAVIGATE.“There is reason to believe that the trial courts in Illinoiswill follow this decision and require debt buyers who sueon purchased accounts in their own name to includethe full documented chain of title, a statement of UPCOMING EVENTSconsideration paid for the debt, and an account exhibitthat includes a specific reference to the assignmentand/or bill of sale,” Canter said.The Federal Trade Commission issued a report last year Platts 10th Annual Credit And Collections Conference forthat called the legal debt collection system “broken”, Utilitiesand encouraged states to take the lead in rectifying Hyatt Regency Grand Cypressthe perceived problems. Given the FTC’s stance and Orlando, FLpolitical interest in protecting consumers in the wake of March 1-3, 2011the housing mortgage debacle, Canter said “spreadsheet accounting is no longer going to be accepted.That’s where the trend is moving both for legislators,regulars and in court decisions.” Continued to page © 2009-2011 National Recovery Agency. All Rights Reserved.®
  12. 12. NRA TODAY February - Special Edition 2011 Volume 6 Issue 2Continued from page Mark Parsells, executive chairman of Global DebtRegistry, LLC, agreed. He said some federal and stateregulars have met with the Delaware-based debt titling VIEW YOUR ACCOUNTS ON-LINE WITH “NAVIGATE”.company to educate themselves about available WWW.NRAGROUP.COMsolutions to track and verify consumer debt. THIS IS A USER-FRIENDLY AND SECURE SITE THAT YOU CAN USE TO CHECK THE STATUS OF YOUR ACCOUNTS, UPLOAD FILES AND“We’ve met with various regulators at their request and MORE. NAVIGATE IS A CONVENIENT SITE FOR OUR CLIENTS.they’ve asked us to explain the solutions,” Parsells said.“They like the solutions and particularly like the fact that FOR LOGIN INFORMATIONour records provide an accurate chain of title at the PLEASE CONTACT CLIENT SERVICES!account level every time the account is transferred.”But Canter fears that the ruling adds an extra burdenon debt buyers and collection agencies doing businessbecause the extra paperwork will increase the cost ofthe paper and collections. Even scarier, he said, is that National Recovery Agency will be “Bowling fordebt buyers may have to reveal what they paid for the Kids’ Sake” for the third consecutive year.debt as a condition for suing. This annual fundraiser benefits Big Brothers“The public filing of price information disadvantages the Big Sisters of the Capital Region.debt buyer whose competitors can find out what pricethe debt buyer/plaintiff paid for their accounts based Bowl For Kids’ Sake is more than a couple ofon a review of court filings,” Canter said. “Public noticeof the price also will add ammunition to consumer hours of bowling. It’s Big Brothers Big Sisters’advocates who constantly complain about accounts THANK YOU for helping raise funds forsold for pennies on the dollar.” mentoring programs!Some collection agencies and debt buyers may be When: Sunday, April 3rdtempted to fight the changes. But Canter said now isthe time for the industry to change and adapt because Saturday, March 26thmore courts, legislators and regulars are likely to requirethe information because it’s available.“There will have to be an effort to make this informationavailable in a cost effective way…for it to be sold withthe account or accessed with the account,” he said.Permalink: http://www.insidearm.com/daily/debt-buy-ing-topics/debt-buying/court-ruling-increases-require-ments-for-debt-collection-lawsuits/ NRA RECOGNIZED AS: February Janet Hernandez Robin Kirkpatrick Schkira Washington Shell Sharma Yvonne Ruby Sponsored by: THE WALL STREET JOURNAL Fran Simmons Tiffany Riser Sandra Ortiz Shantee Williams Kevin Porter Melvin Rojo Biancha Tatum Dashea Chester © 2009-2011 National Recovery Agency. All Rights Reserved.®
  13. 13. NRA TODAY February - Special Edition 2011 Volume 6 Issue 2 Bill Collectors Face Disclosure Rules By SARA MURRAY “People can make old debts fresh again Bill collectors in New Mexico will by making partial payments.” be soon required to inform borrowers The Federal Trade Commission has Ask Dr. Debt urged states to take a harder line on they can’t be taken to court for Consumers seeking solutions long-overdue debts, changing collecting old debts. to debt problems have a new the landscape for consumers and “Consumers are not aware that online resource through creditors in the state. collectors cannot lawfully sue to recover A handful of states and cities on time-barred debt,” the FTC said in July. Ask Dr. Debt, a financial .”To prevent deception, collectors who have addressed the issue, which has education Web site that ACA seek to collect debt they know or should gained attention from the Federal International -- a nonprofit Trade Commission as debt-collector know is time barred should disclose that credit association unveiled. complaints have risen. they cannot lawfully sue the consumers.” Since April 2010, New York City Federal Trade Commissioner Julie Brill, “It’s essentially an online has required debt collectors to notify in a speech in July, said, “I believe that it version of ‘Dear Abby’ for is time for Congress to amend federal law consumers in writing if the debt has consumers with credit and passed the statute of limitations, to prohibit such collection efforts.” She debt questions,” John Nemo, known as “time barred.” warned of more FTC enforcement efforts public relations director Wisconsin and Mississippi have laws in this area. that not only eliminate the right to sue Debt-collection agencies say the for ACA International, new rules create unfair burdens on their on time-barred debts but extinguish said in an e-mail. Nemo industry and aren’t as helpful to borrowers the debt entirely. said visitors to the site Statutes vary by state but nearly all as they appear. will be able to search a have a time limit for credit-card debt. The disclaimer could create a false In New Mexico, Attorney General sense of comfort for consumers, David database of frequently asked Gary King adopted a rule in Cherner, legislative director of state questions and submit their government affairs for the Association of December requiring debt collectors to own. Ask Doctor Debt also inform borrowers if the loan they are Credit and Collection Professionals, said of contains interactive tools inquiring about has passed the statute the New Mexico rule. to educate consumers, such of limitations—four years for most “We’ve indirectly put them in a position credit-card debt in that state. By law, to believe the debt is not going to impact as budget calculators and their life,” Mr. Cherner said. lenders can’t go to court to collect on a free personal financial Nathalie Martin, a University of New such loans. management Web course. The rule, which goes into effect Mexico law professor, says that many in March, is designed to protect people in the state “can’t afford to pay all consumers, but collection agencies the debts that they owe, so they’re going to have to prioritize.”DID YOU KNOW ? say that it will lead consumers to believe they will escape penalties The new rules may make it tougher to convince debtors to pay their loans.National Recovery Agency entirely for not paying their debts. Instead, the debt can linger on a A survey by Ms. Martin and colleague is PPMS, PCI-DSS and Timothy Goldsmith presented nearly 150 credit report, generally for seven years.SAS-70 Type II Certified Complicating the decision for respondents with a hypothetical debt, debtors is that even a partial payment and found 34% said they wouldn’t agree on old debt can restart the clock on to a payment plan when informed the the obligation and render it no longer debt couldn’t be enforced in court. Of “time barred”—a disclosure that the those who weren’t told the debt wasn’t new rule requires debt collectors legally enforceable, just 6% said they to make. The risk of unknowingly would decline to pay. reaffirming a debt was part of the New Mexico’s rule stems from a lawsuit impetus behind New York’s rule. against Merchants’ Credit Guide Co., a “One of the abuses in the debt-collection company, for violating debt-collection industry was debt state law by failing to notify consumers NRA IS LOOKING FOR collectors who would misrepresent that it was trying to collect debts that GOOD EMPLOYEES!! to people what the risks were about had passed the statute of limitations very old debt,” said Jonathan Mintz, even though that information would be commissioner of the New York City important, or material, to the consumer. Department of Consumer Affairs. © 2009-2011 National Recovery Agency. All Rights Reserved.®
  14. 14. VOLUME 6, ISSUE 2 The Official Newsletter of National Recovery Agency March/April 2011NRA Today“A Responsible Revenue Recovery Company™” 2007 ~ 2008 ~ 2009 ~ 2010Creditors Must Be Wary of California’s Rosenthal Act and the FDCPAby Tomio Narita collecting from a California residentSimmonds Narita LLP may be violating California law.February 23, 2011 There are two significant Should creditors careabout the FDCPA? For the most exceptions to section 1788.17 of the Rosenthal Act: creditors do not need to provide consumers with ATTENTION:part, original creditors – including the “mini-Miranda” notice requiredbanks, credit card issuers, finance by section 1692e(11) of the FDCPA, THIS IS A VERYcompanies, telecommunicationscompanies, payday lenders, and nor must creditors send consumers IMPORTANT MESSAGE the validation notice mandated byother entities that extend credit section 1692g of the FDCPA. See FROMdirectly to consumers – do notoperate as “debt collectors” as Cal. Civ. Code § 1788.17. But the remaining substantive provisions of NATIONAL RECOVERYdefined by the FDCPA. For this the FDCPA, as well as the remedies AGENCYreason, when creditors are trying provided by section 1692k(a)(3)to collect money from their own of the Act, apply to creditors whocustomers, they may not pay much collect in California. Id. For the past six months, NRA has beenattention to the requirements of the The FDCPA can be an advancing its technology in manyFDCPA, or the myriad of cases that awkward fit when it is applied to ways. NRA would like to inform youhave interpreted the statute. But creditors collecting from their own that it has made a decision to upgradeignoring the FDCPA is not a good customers. Despite this, courts from CR Platinum to the Titanium OREidea for creditors who want to collect will often rely on the reasoning Collection System. This notice is themoney from customers located in employed by FDCPA decisions first in a series of notifications that isCalifornia. when evaluating Rosenthal Act intended to keep you updated and Any creditor who attempts claims filed against creditors. informed of the status of our collectionto collect a consumer debt from a See, e.g., Reyes v. Wells Fargo system upgrade.California consumer likely qualifies as Bank, N.A., 2011 WL 30759 (N.D.a “debt collector” under California’s Cal. Jan. 3, 2011) (using “least NRA is excited about the additionaldebt collection statute – the sophisticated debtor” standard flexibility that this system andRosenthal Act. See Cal. Civ. Code § to evaluate Rosenthal Act claims software offer, thus providing an1788.2(c) (“debt collector” includes against creditor); Thompson v. open receivables environment (ORE)anyone “who, in the ordinary course Chase Bank, N.A., 2010 WL 1329061,of business, regularly, on behalf of allowing us to mange collections with at *3 (S.D. Cal. March 30, 2010)himself or herself or others, engages (refusing to dismiss Rosenthal Act unparalleled scalability, simplicity andin debt collection.”). The Rosenthal claims alleging that collection calls speed.Act not only includes its own set made on Easter Sunday, Memorialof requirements regulating debt Day and Mothers’ Day were at We will be providing updatescollection, but also incorporates by “inconvenient” or “unusual” times). each Thursday as to the statusreference most of the requirements Creditors, like traditional debt and our progress regarding thisof the FDCPA. See Cal. Civ. Code collectors, must be aware of conversion.§1788.17. Thus, a creditor who fails the volume and pattern of theirto comply with the FDCPA while collection phone calls. Creditors Continued to page © 2009-2010 National Recovery Agency. All Rights Reserved.®
  15. 15. NRA TODAY March/April 2011 Volume 6 Issue 2Continued from page obviously have a legitimate need to Will courts utilize the Foticontact their delinquent customersby phone to make payment line of cases when evaluating the content of voice mail messages Inside this issue:arrangements. But the Rosenthal Act, left by creditors? The reasoning oflike the FDCPA, prohibits creditors fromthe Foti decisions likely will not make Creditors Must Be Wary ofplacing telephone calls repeatedly or sense when applied to a creditor’s California’s Rosenthal Actcontinuously with the intent to annoy voice mails messages, and to date, and the FDCPA P.1the person called. See Cal. Civ. Code there are no published decisions §§ 1788.11(d), 1788.11(e). Is there a on the issue. But creditors should Technology Upgrade P.1limit on how many call attempts a consider that California courtscreditor can make? have held that a debt collector’s ACA International To date, there are no clear failure to properly identify itself in Education Foundationanswers, because the reported a voice mail message can violate Fundraiser P.2decisions have involved calls placed both the FDCPA and the Rosenthal by traditional debt collectors, not by Act. See, e.g., Hosseinzadeh v. InsideARM Consumercreditors. But we can expect that the M.R.S. Associates, Inc., 387 F. Supp. Complaint Annual Report P.3courts will be guided by the reasoning 2d 1104,1117-18 (N.D. Cal. 2005)used in FDCPA cases, considering (collector’s failure to properly identify Mass. law boosts debtnot only the volume of the calls, itself in voice mail messages violated collection protections P.5but also the calling pattern and the FDCPA and Rosenthal Act); Josephindividual facts of the case. See e.g., v. J.J. Mac Intyre, L.L.C., 238 F. Supp. Casey rules to ensure workArteaga v. Asset Acceptance, 733 F. 2d. 1158, 1168 (N.D. Cal. 2002) reaches subcontractors P.5Supp. 2d 1218, 1229 (E.D. Cal. 2010) (same, denying motion to dismiss).(summary judgment for debt collector; Most creditors have procedures in Bowl For Kids Sake Event P.6evidence of “daily” calls not sufficientplace for dealing with consumersto support claim for intent to harass who are represented by attorneys.under FDCPA or section 1788.11 of the When a consumer notifies theRosenthal Act); Rucker v. Nationwide creditor in writing that she has (S.D. Cal. 2010) (granting judgmentCredit, Inc., 2011 WL 25300 (E.D. Cal. retained an attorney, the Rosenthal on the pleadings; monthly billingJan. 5, 2011) (refusing to dismiss claims Act prohibits the creditor from statements sent directly to representedunder FDCPA or sections 1788.11(d), initiating communications directly consumer did not violate section 1788.17(e) of Rosenthal Act where collector with the consumer – “other than of Rosenthal Act); Moya v. Chaseallegedly placed 80 calls to consumer statements of account” – in an Cardmember Service, 661 F. Supp. 2din one year). attempt to collect the debt. See 1129 (N.D. Cal. 2009) (denying motion Cal. Civ. Code to dismiss claim that monthly statements § 1788.14(c). But sent to represented consumer violatedNational Recovery Agency is holding its annual what if the creditor section 1788.14 of Rosenthal Act).fundraiser in the month of April to benefit mails a monthly Should creditors be concerned aboutthe ACA International Education Foundation. statement directly facing Rosenthal Act class actions?Donate in April - then wear the entire month of to a represented Section 1788.30 of the Rosenthal ActMay: consumer, and the does not allow for class actions, and in statement includes fact, it specifically limits consumers to language noting pursuing claims “only in an individual Jeans for $25 that the account action.” See Cal. Civ. Code §§ Sneakers for $25 is delinquent? 1788.30(a), 1788.30(b). Under section Flip Flops for $25 Unfortunately, the 1788.17 of the Rosenthal Act, however, Rosenthal Act does creditors are “subject to the remedies” Jeans Sneakers/Flip Flops for $40 not define the term of section 1692k of the FDCPA. A “statements of number of courts have held thatMoney raised will be donated to the ACA account” and the consumers may pursue class actionsInternational Foundation and will allow the courts in California under the Rosenthal Act. See, e.g.Foundation to expand its important work in are split on this issue. Abels v. JBC Legal Group, P.C., 227 See, e.g., Marcotte v. F.R.D. 541 (N.D. Cal. 2005) (grantingfinancial education. GE Capital Services, motion to certify Rosenthal Act class 709 F. Supp. 2d 994 action); Gonzalez v. Arrow Financial Continued to page © 2009-2010 National Recovery Agency. All Rights Reserved.®
  16. 16. NRA TODAY March/April 2011 Volume 6 Issue 2Continued from page Services LLC, 489 F. Supp. 2d 1140 (S.D. Cal. 2007) however, refused to grant a creditor’s motion to strike(denying motion to decertify Rosenthal Act class action). portions of a Rosenthal Act complaint that sought $1000The Rosenthal Act allows consumers to recover any per violation. See Hamberg v. JP Morgan Chase Bank,actual damages they sustain by reason of the violation. 2010 WL 2523947 (S.D. Cal. June 22, 2010).See Cal. Civ. Code § 1788.30(a). Unlike the FDCPA, What about defenses? Like the FDCPA, thehowever, the Rosenthal Act is not a strict liability statute. Rosenthal Act includes a “bona fide error” defense,Statutory penalties ranging from $100 to $1000 may which allows a creditor to prove that any violationbe recovered, but only if the consumer demonstrates was not intentional, and occurred notwithstandingthe defendant “willfully and knowingly” violated the maintenance of procedures reasonably adapted toRosenthal Act. See Cal. Civ Code § 1788.30(b). avoid the violation. See Cal. Civ. Code § 1788.30(e). If a willful and knowing violation is shown, are The Rosenthal Act also has a “right to cure” defense,the statutory damages limited to $1000 per action, as which permits a creditor, within 15 days of discoveringin FDCPA cases, or may the consumer recover $1000 any violation which is “able to be cured” or after writtenper violation? The better-reasoned decisions hold that notice of any such violation, to notify the debtor of thethe consumer is limited to $1000 per action. See, e.g., violation and to make any adjustments or correctionsScott v. Federal Bond and Collection Service, Inc., 2011 necessary to cure the violation. See Cal. Civil Code §WL 176846, at *3 (N.D. Cal. Jan 19, 2011) (Rosenthal 1788.30(d).Act statutory damages limited to $1000 per action); The Rosenthal Act has been around for decades,Marseglia v. JP Morgan Chase Bank, 2010 WL 4595549 and the statute has always applied to creditors. During(S.D. Cal. Nov. 12, 2010) (same). One California court, the past few years, however, the Rosenthal Act has become a favorite of consumer attorneys, and the trend appears likely to continue. Creditors with customers in METHODS OF ACCEPTABLE PAYMENT: California must be aware that, in light of section 1788.17 National Recovery places great emphasis on the importance of the Rosenthal Act, any attempts to collect in California of recovering our client’s portfolio. In addition to traditional must comply with the Rosenthal Act and the FDCPA. methods of payment such as cash, money orders, personal, bank, and certified checks, we accept the following Tomio Narita is a partner of Simmonds Narita methods of debtor payment over the phone; as well as LLP, a California law firm specializing in defending claims the ability to pay online at www.nationalrecovery.com. arising under the Fair Debt Collection Practices Act, the • Western Union/Quick Collect Fair Credit Reporting Act, and the Rosenthal Act. • Credit AND DEBIT Cards • MoneyGram • Bank Wire • Check By Phone InsideArm.com March, 2011 In its annual report on consumer complaints, released in March 2011, debt collection agencies resolved 84 percent of the complaints received compared to an average of 75.8 percent for all industries tracked. Collections agencies rank 19th in the number of inquiries and fifth in the total number of complaints. Overall, the BBB received 535,224 inquiries about collection agencies in 2010. Of these, 14,966 were Check out our client website at complaints and 12,568 were resolved based on BBB www.nragroup.com standards. Since 2002, collection agencies have been above the national average in resolving more than 80 percent of the complaints filed with Check out our consumer website at the BBB. www.nationalrecovery.com © 2009-2010 National Recovery Agency. All Rights Reserved.®
  17. 17. NRA FILE TRANSFER VERIFICATION FORMPLEASE FORWARD THIS INFORMATION TO THE INDIVIDUAL WHO PLACES YOURACCOUNTS WITH OUR AGENCY.Effective immediately, the following process applies to any and all clients who are referring accountselectronically to NRA. When referring an account file electronically, please use the format belowto ensure timely download/upload of your data. It is suggested that you save this page and submitit with each electronic file.FILE NAME:DATE OF TRANSFER: CLIENT NAME: CONTACT NAME: CONTACT PHONE: CLIENT NUMBER: PLACEMENT TOTALS TOTAL NUMBER OF ACCOUNTS PLACED DOLLAR VALUE OF ACCOUNTS PLACED $ PLEASE SUBMIT THIS FORM TO INTSUP@NATIONALRECOVERY.COM If you have any questions, please feel free to call IT Support at 1-800-360-9953 x 6736
  18. 18. NRA TODAY March/April 2011 Volume 6 Issue 2Mass. law boosts debt books since the Colonial era, has Casey rules to ensure work some archaic exemptions, like twocollection protections cows, 12 sheep, two swine, and reaches subcontractors four tons of hay. It has now been amended to allow each family to Central Penn Business JournalGovernor Deval Patrick keep a computer and a television. Thursday, March 17, 2011 12:16 PMBy Beth Healy “This new law will protect thousands An amendment introduced by U.S.Globe Staff / January 8, 2011 of struggling Massachusetts Sen. Bob Casey and approved by the residents, and allow them to house, Senate aims to increase accountabilityGovernor Deval Patrick yesterday feed, and support their families and by government contractors who listsigned into law a bill to provide continue to work as they struggle small women- and minority-ownedMassachusetts consumers with to pay debts and get back on their business as subcontractors.greater protection from debtcollectors who try to seize their feet after an economic setback,’’ said Robert J. Hobbs, deputy The amendment to the Small Businessbelongings and bank accounts. director of the National Consumer Innovation Research reauthorization bill,The new law updates decades- Law Center. passed Wednesday by a vote of 99-0,old property exemptions, allowing includes requirements for contractorsconsumers to keep a car worth up to Beth Healy can be reached at to tell subcontractors that they would$7,500 out of reach of collectors, up bhealy@globe.com. be listed on a bid before submittingfrom $700 in the past. Owners who for work from an executive agency,are 60 or older or disabled will get a according to a statement from Casey,$15,000 car exemption. Consumers D-Pennsylvania.also may hold on to $2,500 in a bank It also would also create a system foraccount, five times the current level. subcontractors to report potential fraud, his office said.“It’s a wonderful victory forconsumers,’’ said Barbara Anthony, The amendment came about afterundersecretary of the state’s Office senator heard concerns from smallof Consumer Affairs and Business businesses in Pennsylvania aboutRegulation. “It’s drawing a bright contractors listing minority- and women-line here in terms of debt collection owned businesses on applicationspractices. As a state, we’re not to strengthen their chances ofgoing to tolerate these shoddy, HAPPY BIRTHDAY NRA EMPLOYEES: receiving work without the potentialunscrupulous debt collection subcontractors’ knowledge.practices.’’ Craig Andrus Julius Flynn The prime contractor then might Sarah Brown Deb Sterling not allocate the work to the listedThe legislation, which was sponsored Charlene Sarver Bryan Wentz subcontractors, who never knew theyby Senator Patricia D. Jehlen and Thomas Zalonis Tasha Adams should get the work in the first place,passed by the Legislature last week, Tanisha Ellis Regina Andrews according to Casey’s office.takes effect April 7. It followed a Damon Ogden Mecca HolmanGlobe Spotlight series in 2006 that Melissa Briner Keth Blow The full Small Business Innovationfound debt collectors routinely suing April Robles Research reauthorization bill still needspeople who have fallen behind on LaDonna Fletcher to be passed by the Senate, reconciledcredit card bills, and seizing their cars with the U.S. House of Representativesand other property, often without Rashad Bennett and then sent for President Barackproperly alerting them. Small claims Michael West Obama’s signature to become law,courts have since overhauled their Tammy Rudy according to an e-mail statement fromrules, but some consumers have still Casey’s office.been subject to towing in the pastyear.A group of Massachusetts collectionlawyers did not oppose the new VIEW YOUR ACCOUNTS ON-LINE WITH “NAVIGATE”.exemptions when the bill was being WWW.NRAGROUP.COMwritten, saying that towing cars was THIS IS A USER-FRIENDLY AND SECURE SITE THAT YOU CAN USE TO CHECK THE STATUSoften counterproductive. OF YOUR ACCOUNTS, UPLOAD FILES AND MORE. NAVIGATE IS A CONVENIENT SITE FOR OUR CLIENTS.The law, which has been on the FOR LOGIN INFORMATION PLEASE CONTACT CLIENT SERVICES! © 2009-2010 National Recovery Agency. All Rights Reserved.®
  19. 19. NRA TODAY March/April 2011 Volume 6 Issue 2 National Recovery Agency third annual “Bowling for Kids’ Sake” fundraiser benefits Big Brothers Big Ask Dr. Debt Sisters of the Capital Region. Consumers seeking solutions to debt problems have a new Bowl For Kids’ Sake is more than a online resource through couple of hours of bowling. It’s Big Ask Dr. Debt, a financial Brothers Big Sisters’ THANK YOU for education Web site that ACA helping raise funds for mentoring International -- a nonprofit programs! credit association unveiled. “It’s essentially an online version of ‘Dear Abby’ for consumers with credit and debt questions,” John Nemo, public relations director for ACA International, said in an e-mail. Nemo said visitors to the site will be able to search a database of frequently asked questions and submit their own. Ask Doctor Debt also contains interactive tools to educate consumers, such as budget calculators and a free personal financial management Web course.DID YOU KNOW ?National Recovery Agency is PPMS, PCI-DSS andSAS-70 Type II Certified “NRA BOWLING STONES” NRA IS LOOKING FOR Pictured below back row: Tasey Leitzell, Michael Goodyear, Ed Stauffer, GOOD EMPLOYEES!! Penni Lee, Emma Goodyear © 2009-2010 National Recovery Agency. All Rights Reserved.®
  20. 20. NRA TODAY March/April 2011 Volume 6 Issue 2 “NRA BOWL DOGS”“NRA BABES WITH BALLS” Pictured below back row: Chris Bowen, Craig Andrus, and Tyler AndrusPictured below from Left to Right: Cathy Talalai, Tara Front Row: Yvonne Cooper, Winnie SmithGonzalez, Andrea Ross, and Autumn Ware. “NRA PIN COLLECTORS” Pictured from Left to Right: Kimberly Summerlot, Danelle O’Connor, Andrew Schwalm, Karina Goldsmith, Brad Huffman © 2009-2010 National Recovery Agency. All Rights Reserved.®
  21. 21. VOLUME 6, ISSUE 5 The Official Newsletter of National Recovery Agency May 2011NRA Today“A Responsible Revenue Recovery Company™” 2007 ~ 2008 ~ 2009 ~ 2010National Recovery Agency Acquires California Collection Agency the benefit of all of our clients, no and timely information forby insideARM.com – April 25, 2011 matter what size, both immediately outsourced business services and long term,” said Steven Kusic. companies since 1989. The firm hasSteven Kusic, President CEO completed over 130 transactionsof National Recovery Agency Founded in 1969, American representing in excess of $3(NRA), announced Monday that an Agencies has a well-established billion in shareholder value foragreement has been reached with foundation as a leader in the a variety of clients – from smallthe shareholder of ACA Receivables, collection industry for over 40 family businesses to FortuneLLC d/b/a American Agencies years. Having a diversified client 500 companies. In 2011 Kaulkin(AA) to acquire the assets of the base, licensing and authority Ginsberg is celebrating twentyCalifornia-based consumer accounts across the United States, American years in the ARM industryreceivable management firm. NRAwill operate American Agencies as a Agencies is a national collectionwholly owned subsidiary. Terms of agency leading in commercial andthe transaction were not disclosed. consumer collections. Inside this issue:“NRA is an impressive organizationwith visionary leadership that made National Recovery Agency, with NRA Acquires CA Agency P.1the transaction seamless. over 350 employees, is a leading nationwide provider of receivables USPS Rate Hikes P.2NRA plans to immediately leverage management and businessAmerican Agencies sales team with process outsourcing solutions. Regulation Z Amended P.2representatives in 14 different states Headquartered in Harrisburg, PA,and offices in Provo, Utah and Los the company offers outsourced CR Software collections P.3 collections, payment processing, and receivable certified Angeles, CA, to expand its national and call center services to footprint. NRA expects that NRA’s Biggest Losers - Win Big P.3this acquisition will immediately healthcare facilities, governmentalbe significantly accretive to its entities, utility companies, retail NRA Joins IPI Trade Association P.5earnings”, noted Michael D. Lamm and direct marketing, financialof Kaulkin Ginsberg, an MA services, higher education Featured Book of the Month P.5advisor on the transaction. institutions, and debt buyers. NRA has offices in Harrisburg, PA; Foreclosure Activity“With the acquisition of American Mechanicsburg, PA; Provo, Utah; Decreases in First Quarter P.6Agencies, NRA is able to further Los Angles, CA; Panama City, Panama and Pune, India. Compliance Alert P.7strengthen our infrastructure toenhance our collection services for Kaulkin Ginsberg is the leading source of MA, strategic advice, © 2009-2011 National Recovery Agency. All Rights Reserved.®

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