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The legal collections industry is at a turning point. Rising consumer debt, heightened regulatory scrutiny, and growing digital expectations are transforming how law firms specializing in recovery engage consumers and manage risk. To stay effective, many legal teams are reevaluating every Continue Reading
Litigation used to be enough for driving a consumer towards debt resolution? But today's debtors need more motivation besides the traditional legal pressure which creates a crisis for law firms across the country. Continue Reading
By Joel Rosenthal, ProVest VP, Head of Credit Collections Business Development & Client Relations Collection litigators often face a common issue: a backlog of accounts that have proven difficult to serve. These accounts, while still within the statute of limitations, may Continue Reading
Collection law firms face a fundamental problem. While they specialize in legal judgments and complex collections that require court action, most of their incoming calls are simple payment arrangements from people who received notices. Continue Reading
By Joel Rosenthal, ProVest Vice President, Head of Credit Collections Business Development & Client Relations Credit card charge-offs and loan delinquencies have experienced another quarterly decrease. According to first-quarter 2025 data, credit card charge-offs decreased to 4.29%, down from... Continue Reading
By Stephanie Iyayi, Legal Counsel, ConvergentDS Artificial intelligence (AI) is rapidly transforming the legal and financial services landscape. From predictive analytics to automated customer communications, AI presents real opportunities for law firms and creditors’ rights professionals to enhance Continue Reading
By Joel Rosenthal, ProVest Vice President, Head of Credit Collections Business Development & Client Relations Introduction: In today's technology-driven world, the significance of personalized and efficient customer service should not be overlooked. This article explores the vital role of... Continue Reading
By Joel Rosenthal, ProVest Vice President, Head of Credit Collections Business Development & Client Relations Recent data reveals a slight decrease in credit card charge-off rates, marking the first decline in the post-COVID era. The charge-off rate has dipped from 4.61% to 4.58%. While... Continue Reading
By Joel Rosenthal, ProVest Vice President, Head of Credit Collections Business Development & Client Relations Credit card charge-offs and credit card loan delinquencies hit a 13-year high, according to the Federal Reserve’s third-quarter report. Third-quarter 2024 data reveals that... Continue Reading
Any law firm that has a collections program would benefit from digital customer engagement methods that lower their servicing costs per file while generating more customer engagement, leading to increased revenue potential and earning more placements from clients. Initial Demand Letters (IDL) or... Continue Reading
By Joel Rosenthal, ProVest Vice President, Head of Credit Collections Business Development & Client Relations In today's tech-heavy world, reaching a person ready and able to assist is rare. While several vendors work in the creditor rights industry, not all are equal. What distinguishes an... Continue Reading
According to Federal Reserve’s Q2 Data By Joel Rosenthal, ProVest Vice President, Head of Credit Collections Business Development & Client Relations Credit card charge-offs and credit card loan delinquencies continue to be at a more than 12-year high, according to the Federal... Continue Reading
