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          5240 Mendenhall Park Place, Memphis, TN  38115


 

Thank you to all who are serving and who have served.  We would not have the freedom we have if it were not for  
YOUR SERVICE!

 

Consumer Loan Delinquencies Decline in Fourth Quarter

Home loan and bank card delinquencies declined in the fourth quarter of 2015, according to the American Bankers Association’s latest Consumer Credit Delinquency Bulletin released Thursday.

Closed End Loans

Personal loan delinquencies fell from 1.52 percent to 1.44 percent.
Direct auto loan delinquencies rose from 0.74 percent to 0.75 percent.
Indirect auto loan delinquencies rose from 1.51 percent to 1.54 percent.
Mobile home delinquencies fell from 3.59 percent to 3.16 percent.
RV loan delinquencies rose from 0.95 percent to 0.96 percent.
Marine loan delinquencies rose from 1.09 percent to 1.14 percent.
Property improvement loan delinquencies rose from 0.87 percent to 0.92 percent.
Home equity loan delinquencies fell from 2.91 percent to 2.68 percent.


Click below to read the full article

      http://www.acainternational.org/creditors-consumer-loan-delinquencies-decline-in-fourth-quarter-39191.aspx

CFPB AND CREDIT REPORTING

Most of our cllients prefer accounts be reported to the Credit Bureau's and we agree!  However, it is vital that we follow the guidlines of the CFPB.  The following article will help explain some of the challenges we and all agencies are facing.  Keep in mind in order to report anything we MUST have a COMPLETE Social Security Number.  Without it, we will not be able to report that debt.
 
The Consumer Financial Protection Bureau (CFPB) remains extremely interested in the activities of data furnishers and the accuracy of information contained in consumer reports. The CFPB recently released Bulliten 2014-01 which highlights the obligations of data furnishers to investigate disputed information contained in consumer reports.

Executive Summary
Bulletin 2014-01 specifically raises concerns about the practice of deleting disputed information instead of conducting an investigation as required under the Fair Credit Reporting Act (FCRA). The bulletin cautions that simply deleting a credit report item is not an appropriate response to a dispute. The CFPB also held a recent Consumer Advisory Board meeting that centered on consumer reporting issues. These recent activities further exemplify the CFPB’s heightened focus on credit reporting, making it critical that all data furnishers take necessary steps to ensure compliance with their credit reporting obligations.

If you have additional questions about the CFPB, please give us a call.

Community Involment

We offer programs & services in three major areas to help end child abuse and family violence.

CHILD ABUSE & FAMILY VIOLENCE

We address issues of family violence and how it affects both children and adults. Our staff helps families learn how to identify and deal with family violence while offering clients a protected venue for child visitations

PARENTING EDUCATION

Through parenting education, we address the conflicts that arise from stressful parenting situations and divorce.

ANGER MANAGEMENT

We address the issue of anger and explore alternative problem-solving skills, communication skills, the causes of anger, and reactions to anger as well as its aftereffects

The Exchange Club of Memphis
2180 Union Avenue • Memphis, TN info@exchangeclub.net
(901) 276-2200

The Boys & Girls Clubs of Greater Memphis (BGCM) is all about creating opportunities for children through after-school education. We serve nearly 4,000 members between the ages of 6 and 18 each year by providing the fun experiences and critical guidance kids need to build bright futures.

Through a variety of academic and recreational programs, BGCM empowers members to make productive use of their time and wise decisions in their lives. It’s how we’re opening doors for Memphis kids every day, at the positive place for kids.

Be a Part of Boys & Girls Clubs of Greater Memphis Join All boys and girls ages 6 through 18 may join. The parent or guardian will need to fill out a membership application available at a Club near you. Members are free to come and go as they choose and membership dues are kept low, so anyone can afford to join—or even work to earn their membership. Join now!

 

 

There were three men on a hill with their watches. 

The first man threw his watch down the hill and it broke. 

The second man threw his watch down the hill and it broke. 

The third man threw his watch down the hill, walked all the way to the bottom, and caught it. 

The other two men were puzzled and asked the third man how he did it. 

The third man said, "Easy. My watch is 5 minutes slow!"

 

When you have the weight of the world on your shoulders and need to talk to us about one of your consumers:

Call Donna Strickland
at 901-869-2633
Or Terry  Lewis
at 901-869-2631.

This will keep your call from going to a floor collector and expedite your service.
Thanks,
Eddie