publisher's memo - forwarders list · 2013. 6. 7. · and "babylon" is an excellent example of why...

5/28/13 The Forwarders List of Attorneys January Newsletter

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Publisher's MemoWe'll Take You There

As the clock struck midnight on New Year's Eve and people weredoing their usual resolutions, I couldn't get the line "if you want it,come and get it" out of my head. It's a line from the song"Babylon" by one of my favorite musicians, David Gray. The mostimportant quality for me in a musician is their song writing abilityand "Babylon" is an excellent example of why David Gray is awinner in my books. Music is meant to inspire or move us in aparticular way. In thinking about even the song title, is it a placeor a state of mind? Is it a city of great luxury or place of captivity?Does the title even have anything to do with what the songwriter issaying? The conversation could go on into the new year! But, thatsingle line stuck with me. It reinforced my belief that if any of uswant anything, we have to go out and get it. So as the new year

rang in, I decided that for every item on my wish list for the Forwarders List this coming year,I'm just going to have to go out and get it. Opportunity doesn't come knocking at our doors very often. But more importantly, if it does,we have to be able to recognize that it is actually an opportunity. Here at Forwarders List,we've been a trusted source of referrals and business connections for the credit and collectionindustry since 1922. We don't wait for things to happen, we make them happen. And weknow what opportunity looks like and we go get it to serve our clients well. In 2013, Forwarders List will continue to be out there and visible. We'll continue to improve ourservices and deliver better results for our clients. There will definitely be changes andimprovements in the coming year and hopefully 2013 will prove to be a landmark year for us.Continue this journey with us and we'll take you to that place you're looking to go. Best wishes for a successful 2013. Regards,

Gary

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Mike Ginsberg: My 2013 Predictionsfor the ARM Industry

As another year passes by, I have been asked to provide mypredictions for the future of the ARM industry. Like yearspast, I will list my top predictions for the coming year in thispost. However, I must confess that writing this feels differentto me this year. Perhaps this is because of the significant regulatory,economic, political and operational influences that have beenconverging upon all facets of credit and collections, but Idon't think that's the reason. Writing this feels different thisyear because today is the first week after anotherunspeakable tragedy has struck yet another smallcommunity in America, this time taking the lives of veryyoung, sweet children. When my own children ask me thesame question we are all left asking, "Why does somethinglike this happen?", I am reminded how precious life is andhow trivial my predictions are. I am very fortunate to have meaningful opportunities tointeract with professionals from virtually every aspect ofcredit and collections. Owner/operators share with me theirperspective because they know that will maintainconfidentiality. An owner's perspective is critical but it is notthe only one that I value or seek. Throughout the year, Ispend time with collectors, debt buyers, attorneys,accountants, vendors, economists, recovery managers,those who establish credit policy, regulators, enforcementagents like state's attorneys general, conferencecoordinators, reporters and investors. Many of theprofessionals I interact with reside outside the UnitedStates. Continue Reading.

Credit Card Delinquencies Fall toLowest Level Since 1994 Consumer delinquencies continued to decline in the thirdquarter of 2012, with bank card delinquencies falling to an18-year low as consumers strengthen their financial baseamid economic uncertainty, according to results from theAmerican Bankers Association's Consumer CreditDelinquency Bulletin. During the third quarter, bank card delinquencies dropped totheir lowest levels since 1994, falling 18 basis points to 2.75percent of all accounts, well below the 15-year average of3.89 percent. The composite ratio, which tracks delinquencies in eightclosed-end installment loan categories, fell 8 basis points to

In This Issue

Mike Ginsberg: My 2013

Predictions for the ARM

Industry

Credit Card Delinquencies

Fall to Low est Level Since

1994

Three Costly Mistakes Debt

Collectors Should Avoid in

2013

What do YOU think?

Gary's Calendar of Events

WELCOME!

Welcome to the newestmembers of The

Forwarders List! Clickhere to request a list of

these firms.

Food for Thought

"The secret of getting

ahead is getting started.

The secret to getting

started is breaking your

complex overwhelming

tasks into small

manageable tasks and

then starting on the first

one."

-Mark Twain

"What is not started

today is never finished

tomorrow."

-Johann Wolfgang

von Goethe

TRIVIA

How big is the

Time Square New

Years' Eve Ball?

Answer: Today the

ball weighs 11,875

pounds and is 12

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2.16 percent of all accounts in the third quarter, below the15-year average of 2.40 percent. The ABA report defines adelinquency as a late payment that is 30 days or moreoverdue. Keep Reading.

Three Costly Mistakes DebtCollectors Should Avoid in 2013 Here's something we all know: 2013 will be unlike any otheryear in the history of debt collection in the United States. Itis known. The most obvious reason is that the largest ARMcompanies in the country will be subject to federalexamination for the first time ever. And that should probablybe enough. But there's more. In their latest episode of ARM industry legal podcast, TheDebt Collection Drill, attorneys John Rossman and MikePoncin discuss specific ways debt collectors can take toavoid costly mistakes in 2013. In addition to preparing forCFPB supervision (read Rossman's article on that here),Rossman and Poncin talk about the appropriate way toaccept checks by phone (hint: many companies may bedoing it incorrectly) and little known licensing issues causingclass action headaches. Listen Here.

What do YOU think? Which 2012 event had the most impact on you? A. London OlympicsB. Presidential ElectionC. School Shooting in ConnecticutD. Fiscal CliffE. Super Storm Sandy To participate in our poll questions, submit your answer andthe reason(s) why by clicking here.

We will select one winner at randomwho will receive a $25 Gift Card.

The results will be posted in next month's issue of

"Moving Forward."

Last month, we asked what is your favorite holidaytradition that gets you most excited for the season?

Congratulations to our December winner, Irene

feet in diameter. It is

adorned with 2,668

Waterford crystals.

Click here to receive a copy ofour printed directory and/orsend claims through The

Forwarders List.

Receive Our E-Newsletter

Your Opinion

Matters!

Comments?

Suggestions?

We want to hear fromyou. Tell us how we're

doing and whatimprovements you would

like to see by clickinghere.

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Vogelei-Ubil from GB Collects.Thanks to everyone who participated.

Gary's

Calendar of Events

If you would like to meet with Gary Tier at any event he isattending*, please click here to request a meeting, or click

on the event title for more information.

*IACC Annual Convention 2013

Eden Roc Renaissance Miami Beach, Miami Beach, FL

January 16-18, 2013

NARCA 2013 Attorney Workshop

Nashville, TN

January 20-21, 2013

*16th Annual DBA International Conference

Aria Resort & Casino, Las Vegas, NV

February 5-7, 2013

*The 2013 Eastern Region Installation Dinner

The Water Club, New York, NY

March 19, 2013

*17th Annual National Collections & Credit Risk Conference

Hyatt Regency New Orleans, New Orleans, LA

March 20-22, 2013

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