http://woodmont.insidearm.com/fusetalk/forum/index.cfm?forumid=1 FuseTalk Basic Edition http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6799 2007-07-27T07:12:39 -05.00 Chris A 5


Lawyer is acquitted after arguing income levy lacks legal foundation

Regards
-Chris A ]]> http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6619 2007-05-11T06:33:46 -05.00 Mike Bevel 1 The ARM Insider.

We're looking primarily for columnists who can write about revenue cycle management in healthcare and healthcare collections in general. But hey -- good writing is good writing, and if you have an idea that's ARM-focused, we won't turn it away.

If you're interested in contributing content, send me an email: mbevel at insidearm dot com. I'll ask for a writing sample and a list of topics or story ideas you have in mind. ]]> http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6541 2007-04-04T23:08:50 -05.00 Derek 15
"For the twelve month period ending on June 30, 2006, the average collector brought in nearly $655,162 in gross collections. This figure was calculated by dividing the gross collections for each company participating in the study (gross collections are total recoveries, including payments to creditors) by the number of collectors on staff and taking the overall average. The median gross collections taken in by collectors during this same period was $400,774."

Really?

This is the "benchmark" by which the rest of us are to compare ourselves against?

I've been in this business for 18 years. Over all those years, I found that the "average collector" generated about $8,000 to $10,000 in FEE each month, and with a contingency rate from 25% to 35%, that corresponds to an annual GROSS recovery of $300,000 to $500,000.......so I can accept K-G's findings that the "median gross collections ....was $400,774".

But wait a minute.....

The agencies named in that study are well known for purchasing debt. I find it very difficult to believe that the median gross collection was $400,000 on purchased debt. Most purchased debt has been worked over by the OC's internal collectors, then outsourced to one, two, or three agencies BEFORE it is sold off. So by the time it's sold, the paper's liquidity has dropped dramatically. If the purchased debt was bought by an investor that outsourced it to the named agencies at 45%, that would still equate to a monthly average of $15,000 in FEE per collector.

Hardly what I call "average" for purchased paper. On the other hand, if the agencies owned the debt outright, then that would result in the so-called "median gross collection" amounting to $33,000 per month, per collector.

Call me naive, but I believe that most agencies would trip over themselves to have "average collectors" that can hit $15,000 to $33,000 in FEE every month on purchased debt.

I am also not understanding the $655,000 gross recovery by the "average collector" that they found. Assuming those numbers come from paper direct from the issuer with contingency rates of 25% to 35%, that would result in an annual fee recovery of $164,000 to $229,000 which breaks down to $13,000 to $19,000 per month......in FEE. Even for fresh paper straight from the issuer, that's hardly "average". Those aren't stellar numbers, but they are certainly well above "average" based on my own experience over the past 18 years in this business.

But what if that $655k was all purchased debt that is owned by the agency? That would result in a $54,000 "average" each month PER collector. Unless I am living and working in a fog, I find it difficult to believe that an "average collector" can pull that amount every month on purchased debt.

I would LOVE to have a floor of "average collectors" that each individually pulls in $15k to $19k every month in FEE. Give me just 15 of those "average collectors" and I would be sitting in a two million dollar home by now. I have collectors that consistently hit $20,000+ in FEE each month on purchased debt, but they are considered top performers, not "average collectors", and they are hard to come by. Sorry to say, but most collectors are either "average" or "below average". Top guns are within the 5% to 10% tier of all collectors.

Have I been working in a vacuum all these years, or am I missing something from that study?
It was supposedly a "benchmark study" for the rest of us to gauge how we're performing.

If that's the case, then most of the collectors that I see must be primarily drug-dazed laggards.

Can anyone shed any light on this and embarrass me into realizing I'm really just a low-performing, mediocre moron that has deluded himself into thinking he knows a thing or two about this business?

Where can I find these so-called "average collectors" that can consistently bring in from $15,000 to $33,000 in FEE every month on purchased debt?

]]> http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6358 2007-02-12T07:05:35 -05.00 TGIF 5

Is this a sign of desperation?



Asta to pay $300 million for the mostly-credit card portfolio. The accounts are being purchased from several sellers under common ownership with whom Asta enjoys a 20 plus year relationship.
February 12, 2007
Asta Funding, Inc., (Nasdaq: ASFI), a leading consumer receivable asset management and liquidation company, announced late Friday that it has signed a definitive agreement to purchase a sizeable portfolio of approximately $6.9 billion in face value for a purchase price of $300 million. The portfolio is being purchased from several sellers under common ownership with whom Asta enjoys a 20 plus year relationship.

The portfolio is made up of predominantly credit card accounts and includes accounts in collection litigation and accounts as to which the sellers have been awarded judgments and other traditional charge-offs. Asta has given the seller, Great Seneca Financial Corp. and related entities, a $60 million deposit and will fund an additional deposit of $15 million on February 16, 2007. Asta also anticipates closing this major portfolio acquisition in 4-6 weeks, at which time management will be prepared to conduct a conference call to discuss the details of this purchase along with its first quarter results for the period ended December 31, 2006.

Gary Stern, President and Chief Executive Officer of Asta Funding, commented, "We are very excited about the signing of this significant portfolio purchase as it further validates our leadership in the debt buying industry. Portfolios of this magnitude are rarely seen in the marketplace and our business model allows us to make an acquisition of this magnitude almost seamlessly. It is important to note that this purchase arises from a close relationship we have cultivated over many years. This purchase in particular, truly highlights the value of Asta's solid relationships. I look forward to updating the investing public on this news after we close this transaction."
]]> http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6307 2007-02-01T14:24:24 -05.00 Mike Bevel 1
Do you have a story idea?

Know of someone in the industry moving and shaking his or her way to the top?

Is there a topic you'd like to hear a roundtable of individuals discuss?

This is the thread to drop your ideas in. The Editorial Team (Patrick Lunsford and myself -- so, it's not a very big or menacing team) will use the ideas you list here to pursue story topics for the website and the ARM Insider.

You're our audience, and we want to make sure we're bringing content that matters to you. Additionally, you can submit story ideas to mbevel at insidearm dot com or editor at insidearm dot com. ]]> http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6286 2007-01-29T12:43:34 -05.00 charliebaltimore 2 http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6278 2007-01-25T10:15:59 -05.00 TX Debt Atty 1 http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6273 2007-01-24T11:28:43 -05.00 Vanderbilt Group LLC 1 http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6161 2006-12-14T12:59:30 -05.00 RCooper 1 Just wanted to make everyone aware that the Skip Tace Association is now signing up CHARTER MEMBERS.

Our mission is to provide a home for the skip trace industry.

Visit us at Skip Trace Association

Charter members recieve a 20% discount and the ability to help set the foundation so that the association is truly based upon the needs of the skip trace industry.

Regular membership will be made available March 1, 2007.

Thanks,
RCooper

]]> http://woodmont.insidearm.com/fusetalk/forum/messageview.cfm?catid=16&threadid=6120 2006-12-07T17:17:38 -05.00 Derek 3 Had a prospect contact us today looking for a new agency to place accounts with. She claimed that her agency, Diversified Collection Services, went out of business.

Diversified is HUGE. Did I miss something?

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