The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.
ARTICLE SHINES SPOTLIGHT ON NCO GROUP, CALLING IT THE ‘WAL-MART OF DEBT COLLECTION’
- Among the articles published in a joint report by The Center for Investigative Reporting and Consumer Reports magazine is a feature on NCO Group, one of the largest collection agencies in the country. Calling it the “Wal-Mart of debt collection,” the article shares the history of how NCO came to be the size it is today. The article shares an anecdote about how one individual signed up to attend auto repair school, only to back out at the last minute. NCO ended up suing the individual – and his father, who co-signed for the financial aid – for not paying back the tuition. The article goes on to share how practices similar to the lawsuit mentioned above “have gotten NCO into trouble with both federal and state authorities.” There was no mention in the article that NCO was contacted for comment or its side of the story.
COLLEGE IN TROUBLE FOR GOING AFTER STUDENTS WHO ENROLL, BUT DO NOT ATTEND CLASSES
- A Pennsylvania community college is alleged to have engaged in “predatory” debt collections for going after individuals who enrolled for classes but never attended them. There were nearly 1,800 students who left the college during the most recent Fall semester, owing more than $1.7 million in unpaid tuition. The county that oversees the college has announced it will begin an audit of the college’s finances and operations.
OBAMA INSIDERS SEEK APPROVAL TO PURCHASE UNIVERSITY OF PHOENIX
- A group of individuals and organizations with close ties to the Obama administration, or who used to work in the federal government, are pushing the Education Department to allow them to purchase the University of Phoenix. The university is currently being investigated by a number of state and federal regulators for its enrollment and debt collection practices. Some believe that the Obama administration’s push against for-profit colleges has lowered the University of Phoenix’s stock price and made it an attractive takeover target.
WORTH NOTING: More credit unions are working with delinquent debtors to help them avoid defaulting … 32 college majors where graduates don’t end up doing what they expect … A map to show how legalized marijuana is sweeping the United States … Finance, technology, and healthcare are the industries that will drive the most wealth for individuals during the next decade … 24 executives share the daily habits that they say give them an edge … How to be as successful as Henry Ford … 71% of Americans think the economy is “rigged” … How Under Armour is trying to dethrone Nike … Data theft by employees affects nearly 70% of all businesses … Nearly half of U.S. workers consider themselves underemployed.
A great white shark is caught napping for the first time
A highlight reel double play
If you have a tip or item you would like to share, or are interested in sponsoring the Daily Digest, please contact me at mike@canvasbusinessmedia.com.
The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.
