Celebrating 6 Years of SOC 2 Type 2 Compliance: EverChain’s Dedication to Data Security
EverChain’s Dedication to Data Security Today, we’re proud to mark a significant milestone – six years of unwavering SOC 2 Type 2 compliance. It’s not just a badge of honor; it’s solid proof of our commitment to keeping your data safe and sound. Let’s dive into what this means and why it’s so important, especially […]
Webinar – Reviving Financial Resilience – TransUnion’s Recovery Model & Legal Strategies Unveiled
Reviving Financial Resilience RMAi recently presented a TransUnion-sponsored webinar titled “Reviving Financial Resilience: TransUnion’s Recovery Model and Legal Strategies Unveiled,” which focuses on TransUnion’s recovery model and legal strategies for debt collection. It highlighted using data to build predictive models, which replace manual reviews and provide empirical results. Key elements include credit, demographic, non-traditional credit, […]
The Buy Now, Pay Later Phenomenon
The Rise of BNPL: A Financial Revolution In our dynamic financial era, the Buy Now, Pay Later (BNPL) model isn’t just a trend—it’s a revolution. Projected to boost global consumer spending to an astonishing $437 billion by 2027, BNPL is reshaping not just consumer behavior but also the very fabric of financial decision-making. Understanding Buy […]
Resuming Student Loan Payments Will Affect Consumer Credit Risk
Resuming Student Loan Payments Will Affect Consumer Credit Risk A recently released white paper from BCG and TransUnion explores the impact that resuming federal student loan payments will have on consumer credit markets and provides lenders with guidance to mitigate the increased risk. “How Resuming Student Loan Payments Will Affect Consumer Credit Risk” (November 2023), […]
The Landscape of Debt in America: Insights & Figures for 2023
Let’s dive into a topic that touches almost every American: debt. We’re nearing the end of 2023, and the financial landscape has some staggering numbers to digest. The total household debt in the U.S. soared to a jaw-dropping $17.06 trillion in the second quarter of 2023, with credit card debt alone reaching $1.03 trillion, according […]
Mastering Compliance: Strategically Elevate Your Regulatory Game Amid CFPB’s Enforcement Expansion
Mastering Compliance in a Changing CFPB Landscape: EverChain’s Approach In recent announcements from the Consumer Financial Protection Bureau (CFPB), we’ve learned about significant staff increases, particularly within its Enforcement Division. Currently, their Enforcement branch comprises approximately 150 enforcement attorneys and support staff. With the addition of 75 new full-time employees to this division, there will […]
Team Spotlight with Deborah Everly, Debt Sales Vice President
Team Spotlight with Deborah Everly For this month’s “Team Spotlight,” we are delighted to highlight one of EverChain’s newest team members, Deborah Everly. Deb’s been a leader at Viking Payment Service, Sequium Asset Solutions, Azimut Advisors, and Asset Acceptance Capital, and she takes great pride in developing and maintaining strong relationships with clients. We asked […]
From Sale to Success: How Robust Post-Sale Support Transforms Debt Buying Partnerships
From Sale to Success: How Robust Post-Sale Support Transforms Debt Buying Partnerships Following a debt sale, there are frequent requests for post-sale documents and media. Tracking a portfolio’s putbacks, buybacks, and communications can create a massive headache for both the seller and the buyer in the years that follow. As we often say, “A debt […]
Navigating the Complexities of Debt Sales: How Brokers Add Value
Navigating the Complexities of Debt Sales: How Brokers Add Value Creditors today are keen on expanding their recovery strategy. This often includes exploring debt portfolio sales to third-party buyers. But the process of selling debt often involves some hurdles, especially in establishing a fruitful, long-term relationship with a [fusion_tooltip title=”What’s a debt buyer?” class=”” id=”” […]
Liquidating Your Consumer Debt: How Creditors Benefit from Selling Charge-Offs
Liquidating Your Consumer Debt: How Creditors Benefit from Selling Charge-Offs Author: Matt Stone Navigating the complexities of consumer lending often leads creditors to an unavoidable challenge: charge-offs. While these defaulted accounts are typically written off as losses, they can actually become valuable assets when sold to debt-buyers. With EverChain’s expertise, lenders have successfully transformed these […]
