November 2001

February 20, 1996, this was the first Credit Bureau organized, quarterly educational seminar designed and presented with the goal of providing clients and businesses the tools to become better and more effective with reducing their accounts receivables.

This first seminar found us with a medley of presenters engaging in matters from better practice management skills to insurance challenges and claim preparation to internal collection procedures and legal rights involved with collecting receivables. Today nearly six years later countless improvements have been made, some that include splitting the seminar into two separate beginner and advanced presentations in a one-half day time frame each.

Over the years hundreds of attendees have learned the skills of our trade. We have taught the secrets and promoted the confidence required to be the most expert collector. We have provided insight on how to better prevent past due receivables in the first place. We always invited our attorney Paul Ingber who has been collecting the Credit Bureaus legal accounts with great success for nearly 15 years to attend and provide the seminar with a legal edge that all in attendance have found to be a fine compliment to the instruction.

These are just some highlights from those who have found our series of collection skills essential. Don't worry if you have missed out on the benefit of attending, simply keep an eye on our "upcoming events" section posted in each of our Newsletters.

The next series is Collection Skills I, February 12, 2002 then Collection Skills II will follow up on March 15, 2002. Take advantage of attending either or both as they are designed to stand on their own. Join the ranks of those who have obtained the confidence required to reduce the bottom line and gain the edge to collecting receivables. Register today, call one of our representatives 1-800-710-4821, your $75 will go a long way!

Tom Oldani, General Manager

Enjoy the football this Thanksgiving!
Go Lions!!!

Collection Skills Chronicles

House of Representatives Passes Fraud Bill

The House Financial Services Committee approved in early August a bill that would create a new anti-fraud network linking the nation's 250 federal, state, and local financial regulators.

More than 500,000 people in the U.S. were victims of fraud last year, with identity theft leading the way. Rep. Mike Rogers (RMich), who authored the bill, says many criminals run fraud scams by moving around, since regulators typically don't share information. Electronically linking regulators and law enforcement would close the loophole and help avert fraud schemes.

The bill was inspired by the recent case of Martin Frankel, who allegedly defrauded insurance companies in several states of hundreds of millions of dollars after he was barred from the securities industry.

Collections & Credit Risk,

September 2001

Meet the Gang- Laura J. (Sandusky) Stover

Continuation on a series of Articles introducing our clients to our staff:
College Siena Heights University Bachelor in Business Management, Associates in Child Development.
Age 26,
Marital Status-Married Brandon Sandusky, September 23, 2000.
Children Austin age 4 1/2 years who is pre-kindergarten this year.
Hometown Morenci.
High School Morenci.
Position Receptionist Adrian Credit Bureau.
Length of time in that position 1 1/2 years.
Primary Job Responsibilities Take payments, enter new business, answer phones and bookkeeping.
Previous Experience in this Field Credit Reporting Division with Adrian Credit Bureau for approximately one year.
Favorite Aspect of the Job Working with people.
Least Favorite Aspect of the Job Angry debtors.
Funniest event at this Job Excuses people use for why they can not pay.
Greatest Success at this Job Standing up to those angry debtors.
Best Business Advice Always give your all and treat others the way you want to be treated.
Quality You Most Admire in a Person Trust and someone who cares about and helps children.
People who influenced you the most My parents.

Credit Stats

By early 2001, consumer credit card debt equaled $644 billion. The average amount of credit card debt carried over month to month by households rose to $8,123 in 2000, up 7 percent from 1999. (Source: www.cardweb.com)

Thirteen percent of families in the United States have credit card debt that exceeds 40 percent of their income. ("Household Debt Grows Precarious As Rate Increase," www.collectionindustry.com, May 15, 2000)

The total household debt service burden in the fourth quarter of 2000 totaled 14.29 percent of income, 7.83 percent of income going to consumer credit and loans and 6.46 percent going to mortgages, according to the Federal Reserve Board. The household debt-service burden is an estimate of the ration of debt payments to disposable personal income. Debt payments consist of the estimated required payments on outstanding mortgage and consumer debt. By the end of June 2000, outstanding consumer debt totaled $1.456 trillion. ("U.S. Consumer Credit Expanded $12 billion in June," Dow Jones Newswires, Aug. 2000)

Seventy-eight million of the 105 million households in the United States had at least one credit card last year. Bank credit card loans in the U.S. totaled $568.4 billion in 2000, up 16.0 percent from 1999's figure of $490.1 billion. Americans charged more than $1.2 trillion on their VISA, MasterCard, Discover and American Express cards during 2000. There were 506 million VISA, MasterCard, Discover and American Express cards in circulation in the United States in 1999. There were another 800 million debit and credit cards in circulation. (www.cardweb.com)

High Payment of the Month

High payment honors go to Our Pre-collect service this month so the Credit goes to the Owner Bob Barden. This service collected $3300 for a local Masonry Company and the fee was only $5! Congratulations Bob!

Our Offices

Adrian Credit Bureau
(517) 265-8161

Ann Arbor Credit Bureau
(734) 665-6173
(800) 710-4821

Jackson Credit Bureau
(517) 787-5333
(877) 787-6273

Saginaw Credit Bureau
(989) 799-3800

Welcome to Our New Clients

• Reed & Hoppes, Inc.
• Ann Arbor Door Systems
• Dansby Wrecker Service
• Westland Car Care Center
• Garden City Medical Center
• Mayflower Auto Transport
• Canton Facility
• Huron Ophthalmology
• Rockford Ambulance, Inc.
• Baker Heating & A/C

Upcoming Events

Collection Skills I-Ann Arbor
February 12, 2002

Collection Skills II-Ann Arbor
March 15, 2002

$75.00 each. To Register:
Call 800-710-4821

Over the next six weeks collectors in all three of our collection division offices will be competing in hopes to win one of three grand prizes. It's that time of year that the debtors reluctance to pay is at its highest so our Company is promoting a collector contest throughout the month of November.

The contest is designed to encourage teamwork, improve higher recoveries, bolster payment in full and help increase work levels at a time that is most difficult in our industry for recovery.

Prizes from weekend trips to exotic faraway places to some very fine electronics help us provide the incentives necessary to help us recover the most of your problem accounts this time of year. Tune in to next months issue for the winners and the prizes awarded.

Good luck to all the collectors!

Thomas Oldani, General Manager
Collector Contest

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Ann Arbor Credit Bureau, Inc.
311 N. Main   Ann Arbor, Michigan   48104
800.710.4821     734.665.6173
info@a2cb.com