Category Archives: Compliance

What is an “itemized statement” for debt collection purposes?

Southern is a third party debtor collector as defined by the federal Fair Debt Collection Practices Act (FDCPA) and as such we have certain legal obligations when … Continue reading

CRA’s Implement Significant Reporting Changes September 2017

Equifax, Trans Union, and Experian, the three largest consumer credit reporting agencies (CRA’s) entered into an agreement with multiple states attorneys general and the federal … Continue reading

Welcome to the Top 3%!

Perhaps the most-oft heard word in the credit and collection industry in the past five years is “compliance”.  ACA International, the national trade association of collectors, has … Continue reading

Keeping Documents in Order

Pressure has been growing in our industry that has created an environment in our industry that requires more documentation, more proof of debt, and more confirmation … Continue reading

Credit Bureaus Limit Information on Consumer Reports

The three major Credit Reporting Agencies (CRA’s) Equifax, Experian and Trans Union have announced they will significantly limit or reduce the information placed on a … Continue reading

CFPB Announces Outline for Debt Collection Rules

The Consumer Financial Protection Bureau (CFPB) announced at a field hearing in Sacramento, California July 28, 2016 they plan to make it much easier for … Continue reading

Interest, late fees, and other billing charges: Are you in compliance?

Creditors need to take a good look at what their financial responsibility forms require compared to what their software programs charge.  We have encountered a … Continue reading

How do we lessen the risk of being sued? Reconciliation!

In today’s debt-collection world, creditors and debt collectors can pay significant legal fees to defend themselves when they really didn’t do anything wrong or harmful to … Continue reading