Volume 62, March 2009

In This Issue: Differences between Retail collection and Subrogation So, You Know Retail...What About Subro? Press Releases Upcoming Events

Differences between Retail collection and Subrogation by Jeff Baill, Yost & Baill Over the last thirty years, the subrogation industry has undergone massive changes.  The most significant of these changes has been the formation of dedicated subrogation units within companies whose sole focus is to promote the recovery of subrogation dollars.   These units have discovered that some of their claims against uninsured tortfeasors can be handled efficiently by people previously identified with the collection industry.  There are more people with a collection background involved in subrogation today than ever before.  However, there are distinct differences between the issues involved in subrogation and collection. The main difference between the two types of collection activities lies in the nature of the claim that must be proven.  Retail collection involves a breach of contract. To prove a breach of contract you must prove  the existence of a contract; a breach of the contract; and damages.  Subrogation involves tort law.  Proving a tort requires proof of a duty owed, a showing that the duty was breached, and that the breach was the proximate cause of resulting damages.  These are very different claims to prove. Read the complete article, Differences between Retail collection and Subrogation.

So, You Know Retail...What About Subro? By Kimberly L. Rathbone, Javitch, Block & Rathbone, LLP Have you thought about branching out from retail, but you're just not sure?  The current economic climate has us all considering what business we are doing and how we are doing it in order to stay afloat.  For those deciding whether to expand from the retail world into more contingency work in the subro world, it is very doable with an education approach.  It's not all square pegs into round holes. 1.  Not all subro.  What many moving into the subro world do not think about is that there are different types of subro, not all of which equate easily into the retail world.  The type of subro that most easily relates to the retail world is uninsured auto subrogation.  The legal process mirrors that in retail, and your expertise in post-judgment collections will be seen as a benefit to your clients and will help you to make the most of your portfolio.  Moreover, the pressure of a license suspension will help to provide the stability of getting your demand paid before the average retail demand.  Many states even provide the opportunity for pre-suit license suspensions.  In addition, the insurance uncovered in the lawsuit of a previously-considered "uninsured" file makes that file economy-proof. Property subro is more labor intensive, as is [the] insured auto work, and can easily be neglected without restructuring your firm.  I would recommend this at a later stage after your belief in the subro world is more solid.  To stay consistent with the retail business model, stick with uninsured auto in the beginning. Read the complete article, So, You Know Retail...What about Subro?

Press Releases IAT to Release CT Center 7.0 at Annual User Conference IAT announces it will release version 7.0 of CT Center, its site-premised product, at the IAT Annual User Conference in April. A Utah-based dialing technology company, IAT provides both site-premised and hosted dialing solutions for the collection industry. CT Center combines both predictive dialer and broadcast messaging capabilities on a single Windows® platform. It's scalable to fit any agency's size and needs and is the successor of IAT's legacy predictive dialer, Smartdial.® Read the complete press release, IAT to Release CT Center 7.0 At Annual User Conference. FTC Report Urges Reform and Modernization of Federal Debt Collection Law; Agency Also Issues Annual FDCPA Report to Congress The Federal Trade Commission issued a report today recommending that the debt collection legal system be reformed and modernized to reflect changes in consumer debt, the debt collection industry, and technology. The report describes the changes the FTC believes will provide better consumer protection without unduly burdening the debt collection industry. The Commission also issued its 31st annual report to Congress on the Fair Debt Collection Practices Act, which summarizes its enforcement of the FDCPA during 2008. Read the complete press release, FTC Report Urges Reform and Modernization of Federal Debt Collection Law; Agency Also Issues Annual FDCPA Report to Congress. IAT Celebrates 23 Years of Dialing Technology Success IAT celebrates 23 years of success in the dialing technology industry on March 6, 2009. They attribute this unusual longevity and success in the industry to a focus on customer service and a drive to provide the very best in collection-specific products and services. "I am extremely optimistic about IAT's future," said Dave Rudd, IAT President and CEO. "We have worked hard to become recognized as one of the collection industry's top providers of technology. IAT is prepared to meet the challenges necessary to maintain our leadership position." Read the complete press release, IAT Celebrates 23 Years of Dialing Technology Success. Analytics expert to speak at IAT Annual User Conference On April 14th, during the IAT User Conference in New Orleans, R. Fred Houston, President and CEO of Columbia Ultimate, will explain how to use analytics to help a collection business succeed. A Utah-based dialing technology company, IAT offers a choice of site-premised and hosted dialing solutions for the collection industry. At the Annual User Conference, IAT trains customers on their dialing technology and provides guest speakers to cover other important topics of interest to clients.  Houston has more than 25 years of experience in the collections industry and is a well-regarded expert and speaker on debt recovery and analytics. He will teach attendees how to use analytics to find solutions to complex business problems and identify what needs to change in their business-and how to change-while positively impacting ROI. Read the complete press release, Analytics expert to speak at IAT Annual User Conference.

 REMINDER

To satisfy our insurance policy requirements, notification to The National List Inc., MUST be received within 35 days of placing the claim with the receiving attorney for the claim to be covered by OUR $3.5 MILLION insurance policy. 

Claims received past the insurance company's 35 day requirement are not covered by The National List's insurance policy.

 PredictiveMetrics is the leading provider of statistical-based predictive scoring metrics and analytical decision solutions for the B2C and B2B markets. Our custom analytics and industry/finance decision technology span many industries, types of financing, and debt.

Harvest Strategy Group is a National Legal Network and Accounts Receivable Management firm which employs proprietary strategies to manage large volumes of accounts through the collection process and deliver returns well above market norms.

 The YouveGotClaims® service electronically delivers new collection claims to an unlimited number of law firms and other service providers, and then allows the senders of the claims to track, manage and analyze both the collection portfolios and the vendors servicing those portfolios.