CFPB and FTC Launch Actions Against Different Payday Lenders; Debt Sales Implicated

September 20, 2014 By Leave a Comment

The Federal Trade Commission and the Consumer Financial Protection Bureau both announced enforcement actions Wednesday against separate payday lenders for very similar behavior, namely funding unapproved loans for consumers who did not request them and then taking payments directly from checking accounts, also without approval. And for questionable debt sales and collection practices, of course.

The FTC said that it had sued and won a temporary restraining order against Timothy Coppinger, Frampton (Ted) Rowland III, and a web of online companies they owned or operated.  The court order gives the FTC and the receiver immediate access to the companies’ premises and documents, and freezes their assets.

The FTC’s complaint stated that the companies, operating under the umbrella of CWB Services, LLC, used personal financial information bought from third-party lead generators or data brokers to make unauthorized deposits of between $200 and $300 into consumers’ bank accounts. Often, the scheme targeted consumers who had previously submitted their personal financial information – including their bank account numbers –to a website that offered payday loans.

After depositing money into consumers’ accounts without their permission, the defendants withdrew bi-weekly reoccurring “finance charges” of up to $90, without any of the payments going toward reducing the loan’s principal, the FTC alleged. The defendants then contacted the consumers by phone and email, telling them that they had agreed to, and were obligated to pay for, the “loan” they never requested and misrepresented the true costs of the purported loans. In doing so, the agency alleged, they often provided consumers with fake applications, electronic transfer authorizations, or other loan documents purporting to show the consumers had authorized the loan.

Over one eleven-month period between 2012 and 2013, the defendants issued $28 million in payday “loans” to consumers, and, in return, extracted more than $46.5 million from their bank accounts, the FTC alleged.

In many instances, if consumers closed their bank accounts to make the unauthorized debits stop, the defendants sold the supposed “loan” to debt buyers who then harassed consumers for payment, the FTC contends.

The CFPB’s announced action was very similar. In fact, it was filed in the same district court as the FTC action and is presided over by the same judge.

Richard Cordray, CFPB Director, noted in a press call Wednesday that the cases were separate, but that the two agencies cooperated in the investigations.

“We have coordinated here to best use our resources to pursue our separate actions against these bad actors and to provide a common front against this grave misconduct,” said Cordray. “I commend the FTC on its case and its dedication to ferreting out consumer harm in this area, a goal our agencies share.”

The CFPB also won a temporary restraining order against its defendants Richard F. Moseley, Sr., Richard F. Moseley, Jr., and Christopher J. Randazzo, who control the Hydra Group. The lawsuit alleges that the defendants operate the business through a maze of corporate entities created to evade regulatory oversight. Their collection of roughly 20 businesses includes SSM Group, Hydra Financial Limited Funds, PCMO Services, and Piggycash Online Holdings. The entities are based in Kansas City, Missouri, but many of them are incorporated offshore, in New Zealand or the Commonwealth of St. Kitts and Nevis.

Like in the FTC’s action against CWB, the CFPB alleges that Hydra would get personal information from online lead generators that match consumers with payday lenders. The company would use the information to access consumers’ checking accounts to deposit unauthorized payday loans, and then begin debiting unauthorized fees.

The CFPB alleges that over a 15-month period, the Hydra Group made $97.3 million in payday loans and collected $115.4 million from consumers in return.

Even when consumers successfully close their deposit accounts, the Bureau alleges that in many cases the Hydra Group sells the bogus debt to third-party debt collectors. Though there is no legitimate basis for the debt, consumers are still contacted and pursued for loans they never agreed to.

Both companies’ assets, and those of the owners, are currently frozen pending further legal action.

CFPB and FTC Launch Actions Against Different Payday Lenders; Debt Sales Implicated
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Accounts Receivable Management

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CFPB Proposes Guidelines for Non-Bank Auto Finance Regulation and Supervision

September 20, 2014 By Leave a Comment

The Consumer Financial Protection Bureau (CFPB) Wednesday announced it is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.

“Many people depend on auto financing to pay for the car they need to get to work,” said CFPB Director Richard Cordray. “Nonbank auto finance companies extend hundreds of billions of dollars in credit to American consumers, yet they have never been supervised at the federal level. We took action after we uncovered auto-lending discrimination at banks we supervise. Today’s proposal would extend our oversight, allowing us to root out discrimination and ensure consumers are being treated fairly across this market.”

In conjunction with the proposed rule, the CFPB released a supervision report that details the auto-lending discrimination that the Bureau has uncovered at banks. The report highlights that the Bureau’s supervisory actions against banks will result in about $56 million in redress for up to 190,000 consumers harmed by discriminatory practices.

Currently, the Bureau supervises large banks making auto loans, but not nonbank auto finance companies. Today the CFPB is proposing to extend its supervision authority to the larger participants of the nonbank auto finance market. Under the Dodd-Frank Act, the CFPB has authority to supervise certain nonbanks the Bureau defines through rulemaking as “larger participants” in a market.

The CFPB has already used its “larger participants” rule to initiate supervision of nonbank student loan servicers, debt collectors and credit reporting agencies, and companies in other markets.

The proposed rule would generally allow the CFPB to supervise nonbank auto finance companies that make, acquire, or refinance 10,000 or more loans or leases in a year. The Bureau estimates that about 38 auto finance companies would be subject to this new oversight. These companies originate around 90 percent of nonbank auto loans and leases, and in 2013 provided financing to approximately 6.8 million consumers.

The CFPB said that any new proposed rules and supervisory activity would focus broadly on three areas:

  • Fairly marketing and disclosing auto financing: The Bureau wants to make sure that auto finance companies who market directly to consumers are not using deceptive tactics to market loans or leases. The Bureau is also looking to ensure that consumers are getting terms they understand and accept.
  • Providing accurate information to credit bureaus: The Bureau wants to make sure that information provided to the credit bureaus is accurate.
  • Treating consumers fairly when collecting debts: The Bureau wants to make sure that auto finance companies are not using illegal debt collection tactics. The Bureau has received complaints from consumers who say that their autos have been repossessed while they are current on the loan or have a payment arrangement in place. The Bureau also is looking to ensure that collectors are relying on accurate information and using legal processes when they collect on debts or repossess autos.

The proposed rule is open for comment for 60 days after the rule is published in the Federal Register.

CFPB Proposes Guidelines for Non-Bank Auto Finance Regulation and Supervision
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Accounts Receivable Management

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ARM Firms Jumpstart Campaign for Veterans

September 20, 2014 By Leave a Comment

ARMing Heroes, the collection industry’s charity for military veterans, today announced that a handful of accounts receivable management companies have already pledged or donated amounts totaling nearly $20,000 in just the first few days of the organization’s fifth annual No Debts for Vets Charity Fundraising Drive, which runs from September 11th through Veterans Day, November 11th, every year.

These donations came from across the country, starting with National Credit Services, of Woodinville, Washington.  Owner Haidari Sarajy was presented with an award for his previous contributions at an ARMing Heroes event in Washington, DC, earlier this year, and remains a key supporter of this worthy cause.

Tom Gillespie, President of Access Receivables in Maryland, has also been a long-time supporter of ARMing Heroes.  His firm is holding an ongoing drive in which Access will donate 25 cents out of every payment received to ARMing Heroes. “So many of our returning heroes are hampered by debt issues that are created out of hardship. Access wants to support these special men and women and let them know that their sacrifice does not go unappreciated.  It also is a way for our employees to feel good about their part in raising awareness and contributing to this special cause,” he stated.

Other firms making early pledges or donations to help veterans include F.H. Cann in North Andover, Massachusetts, and HS Financial out of Cleveland, Ohio.  Employees of large industry player I.C. System even voted recently to direct funds raised at a recent charity golf outing to ARMing Heroes.

This year, the organization has made it easier than ever for companies to successfully institute a company-wide fundraiser by offering an Employee Fund Drive Starter Kit. In four easy steps, the kit outlines what is needed to announce, manage, and complete a successful employee drive. Any company that participates in a fundraising drive and donates to the charity at specified threshold levels will receive Donor Dog Tags, customized military-style dog tags for employees to commemorate their support of military veterans. Interested companies can learn more about the Employee Fund Drive Starter Kit and Donor Dog Tags here.

Tax-deductible donations are now being accepted online at www.armingheroes.org and via mail to PO Box 353, Collingswood, NJ 08108, payable to ARMing Heroes. Pledges may be made to info@armingheroes.org.

Last year’s fund drive generated more than $50,000 in donations, the largest amount of funds raised since the organization’s inception in 2009. As a result, dozens of grants were awarded to struggling military vets and their families, most of which were disbursed to the creditors of grant recipients at the end of the year, just in time for the holidays. Typical grant awards averaged $1000 to $2000, with the largest grant in the amount of $5000.  Stories of past grant recipients remind us all how rewarding this program can be.

About ARMing Heroes

ARMing Heroes was founded and began operating in March, 2009.  The organization’s mission is to serve the needs of U.S. military veterans, including their spouse and children. ARMing Heroes fills a charitable niche by linking people identified with employment, credit, and financial counseling needs with the accounts receivable management industry, an industry uniquely poised to help in these areas.  Persons interested in volunteering their time and others interested in applying for benefits or pledging other forms of support are encouraged to contact the organization at www.armingheroes.org.

What Can I Do Right Now to Help?

  • Visit www.armingheroes.org and donate now.
  • Friend us and post this article to your page on Facebook.
  • Tweet about this article on Twitter.
  • Join our group on LinkedIn, the ARMing Heroes Veterans Charity Supporter / Assistance Center.
  • Comment on this article online and ask us to contact you.
  • Forward this article via email to your key contacts.
  • Print this article and fax it to your local congressional office and ask them to post our website on theirs as a resource for vets.

 

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Accounts Receivable Management

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Georgia-Based Hollis Cobb Announces Expansion into Chicago and Mobile Markets

September 20, 2014 By Leave a Comment

Hollis Cobb Associates, a Norcross, Ga. based accounts receivable management company is excited to announce its physical expansion into the Chicago and Mobile, Ala. markets. The expansion begins with over 200 employees and centers on recent acquisitions in each market.  In 2012, Hollis Cobb purchased long-time industry leader, Bonded Collection Corporation in Chicago, and most recently Medcore, Inc. based in Mobile, Ala.

Establishing a foothold in these locations builds upon Hollis Cobb’s strategy of “committing to locations with a long history of quality employees who can best serve our clients”, according to Greg Hocutt, President and Chief Executive Officer of Hollis Cobb Associates, further adding “Hollis Cobb prides itself on offering extremely competitive salaries and aggressive bonus plans with some of the best benefits in the industry along with significant career advancement opportunities.”

Once fully staffed, Hollis Cobb Associates will boast worldwide headcount approaching 350 people across four locations including 35 collectors in Managua, Nicaragua.

“None of this would be possible without the great partnerships we have developed with our hospital clients over the years.  We like to establish employee bases within a logical reach of our largest clients, and this announcement furthers that effort” according to Alan Cobb, Chairman of Hollis Cobb Associates.

“With our significant new expansion comes the need for more experienced collectors and the commensurate collection management team. We bring a unique culture and a high level of customer care to our new partners”, said Alan Cobb, Chairman. Greg Hocutt, President and Chief Executive Officer added, “This new expansion positions us to be one of the leading providers of collection services in the markets we serve. We expect the expansion to be complete by the end of Q1, 2015.”

About Hollis Cobb

Hollis Cobb Associates is a professional collections service agency founded in 1977 by Hollis L. Cobb following his twenty-eight years of experience in the credit and collection industry. His philosophy from the beginning was to offer a personalized quality service second to none. Today we continue to build on that philosophy by working closely with our clients to address and fulfill their ever changing needs.

Georgia-Based Hollis Cobb Announces Expansion into Chicago and Mobile Markets
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Accounts Receivable Management

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Douglass v. Convergent: The Envelope Debate

September 20, 2014 By Leave a Comment




Take Our Poll

Have you guys had a chance to read over the recent Douglass v. Convergent decision? It’s the case where a consumer complained that the account number was visible through the envelope window. We’re asking you to weigh in with your thoughts on the decision in this week’s poll.

Additionally, if you’re looking for specific operational help around Collection Letters, there’s a webinar for you: insideOperations: Collection Letters. Join John Rossman of Moss & Barnett and Mike McDonnell of RevSpring as they give you the latest compliance information regarding how to communicate with consumers via letter and email.

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Accounts Receivable Management

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Consumer Group Calls for CFPB Oversight of Medical Debt Collection in Report

September 13, 2014 By Leave a Comment

The National Consumer Law Center this week published a report calling for the CFPB to supervise larger collection agencies that focus on medical accounts, effectively changing a conclusion the Bureau had already reached with regard to healthcare debt.

The report, “Strong Medicine Needed: What the CFPB Should Do to Protect Consumers from Unfair Collection and Reporting of Medical Debt,” explores medical debts that enter into the collection system and specifically focuses on debt collection, credit reporting, and billing practices. One of the main recommendations is that the CFPB include revenue from medical accounts in its calculation of collection agency size for the purpose of supervision.

Under the Dodd-Frank Act, the CFPB has supervisory authority over “larger participants” in a market for consumer financial products and services, including debt collection. For the debt collection market, the CFPB has defined “larger participants” as any debt collector with receipts over $10 million.

But the CFPB rule excludes medical debt from the $10 million threshold of receipts. The NCLC says that this means that a debt collector that only collects medical debts, or has just a few non-medical debt accounts, escapes CFPB supervision. To protect consumers who are being dunned for medical debt, the CFPB should include medical debt collectors in its scope of supervision, says the report.

The CFPB excluded medical debt from the $10 million threshold because its supervision is limited to collection of debt resulting from “consumer financial product or services,” and the Bureau believed some types of medical debt did not fall within that category. The NCLC report argues that the CFPB could have included supervised medical debt collectors under a separate category, as furnishers of information to credit reporting agencies.

The CFPB could have done that, but it didn’t, a point noted by debt collection industry trade group ACA International in its statement on the report.

“ACA members welcome the opportunity to help patients gain greater access to available healthcare and financial assistance programs,” said CEO Pat Morris. “Unfortunately, yet predictably, the NCLC’s myopic report attempts to associate its concerns with only one of several stakeholders in the resolution of medical accounts – consumer debt collectors. As such, it disingenuously calls for the Consumer Financial Protection Bureau to exert authority it does not have. Instead of focusing on real solutions to real problems, the NCLC continues to be focused on vilifying the legitimate and critical debt collection industry.”

ACA noted that it has partnered with the Healthcare Financial Management Association and other stakeholders to develop best practices for resolution of medical accounts.

Other recommendations for the CFPB made by the NCLC report include:

  • Giving consumers notice before a debt is “parked” on a credit report.
  • Requiring a minimum period between when a medical bill is first sent to a consumer and when it can be reported to a credit reporting agency.
  • Protecting consumers’ credit scores and provide protections when consumers dispute medical debts that result from billing errors or insurance disputes.
  • Prohibiting collectors from dunning for excessive chargemaster prices if the consumer is low-income or qualifies for charity care/financial assistance.

The report also called for the passage of legislation that would give the CFPB the explicit authority to take the recommended actions, in addition to the passage of the Medical Debt Responsibility Act.

 

Consumer Group Calls for CFPB Oversight of Medical Debt Collection in Report
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Accounts Receivable Management

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Collection Agency in Visible Account Number FDCPA Case Requests Rehearing

September 13, 2014 By Leave a Comment

A collection agency that late last month lost an appeal in the Third Circuit has filed a petition for a rehearing, according to ACA International. The case involved an account number being visible through the clear window of an envelope.

A three-judge appellate panel, in a precedential opinion, unanimously overturned a district court ruling in Douglass v. Convergent Outsourcing on August 28. The question before the Court was whether a visible account number ran afoul of the FDCPA’s section 1692f(8).

On Wednesday, the collection agency filed a petition for rehearing en banc (before all judges in the circuit) or by another three-judge panel.

Convergent sent a collection letter for a past due mobile phone bill with the debtor’s account number – a number used internally, which the defendant referred to as a tracking number — visible through the transparent address window of an envelope. Convergent had previously won a summary judgment in the Eastern District of Pennsylvania ruling that the account number was “benign language.”

But the Third Circuit panel disagreed, writing, “The account number is a core piece of information pertaining to Douglass’s status as a debtor and Convergent’s debt collection effort.  Disclosed to the public, it could be used to expose her financial predicament.  Because Convergent’s disclosure implicates core privacy concerns, it cannot be deemed benign.”

The panel overturned the district court’s decision and ruled that the disclosure did violate the FDCPA.

In its rehearing petition, Convergent argues that the Third Circuit panel erred in concluding that the tracking number could have disclosed that the letter was pertaining to debt collection. The company wrote, “every shred of evidence presented to the District Court revealed that the number was innocuous, Douglass was not harmed by the disclosure of the sequence of letters and numbers, and neither Douglass nor her ’expert’ could provide any manner in which Douglass could be harmed by such disclosure.”

The appellate panel had noted that the question before them may have been made easier as the plaintiff was seeking only statutory damages. It therefore did not need to make a determination on actual damages, leaving it up to the district court to decide how to proceed in the class action.

The company asserts in its rehearing petition that the “issue of whether the information in question was benign requires a factual determination.”

Collection Agency in Visible Account Number FDCPA Case Requests Rehearing
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Accounts Receivable Management

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FTC Staff Provides Comment to CFPB on Mobile Financial Services

September 13, 2014 By Leave a Comment

The staff of the Federal Trade Commission filed a comment in response to the Consumer Financial Protection Bureau’s request for information on the use of mobile financial systems by consumers and their potential benefits for the financial lives of underserved consumers.

The FTC staff’s comment highlights five consumer protection issues posed by mobile financial services and the steps taken by the FTC to address them.

The issues highlighted in the comment include the potential liability for unauthorized charges using prepaid or stored value products; unfair billing practices on mobile carrier bills; the privacy of consumers’ personal and financial data; the security of consumers’ personal and financial data; and the potential use of consumers’ information by data brokers and other third parties.

The comment notes the FTC’s authority and activity in the area of mobile commerce, including enforcement actions, public workshops and reports issued by the Commission.

The Commission vote authorizing staff to file the comment was 5-0.

FTC Staff Provides Comment to CFPB on Mobile Financial Services
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Accounts Receivable Management

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Executive Change: Pyramid Healthcare Solutions Names New Chairman and CEO

September 13, 2014 By Leave a Comment

Salient Business Solutions, the revenue cycle management and business outsourcing consulting arm of the India-based Avantha Group, has announced leadership changes for its fully owned subsidiary Pyramid Healthcare Solutions, a leading provider of revenue cycle management services for the healthcare industry based in Clearwater, Fla.

Manoj Malhotra, CEO of Salient Business Solutions, has been appointed Chairman of the Board of Directors at Pyramid Healthcare Solutions; Malhotra will continue to serve as its president. B Hariharan, Group Finance Director for Avantha Group, and S. Sanjay San, Group Human Resources Head for Avantha Group, were elected to the Pyramid board.

Alan Santos has been appointed new Pyramid CEO and will lead U.S. operations for the company, reporting to Malhotra.  Santos previously was Vice President for Pyramid’s Pharmaceutical Compliance & Related Services line of business, responsible for directing the company’s newly created offerings for drug manufacturers, distributors, wholesalers and retailers.

“While continuing in his role as CEO of Salient, Manoj, as Chairman of Pyramid’s Board, will focus on further positioning both companies toward greater strategic growth and financial success in our chosen segments of U.S. healthcare revenue cycle management and India retail CRM services,” said Gautam Thapar, Chairman of Avantha Group.

In making the announcement on Santos’ appointment as Pyramid CEO, Malhotra said, “As Pyramid continues to focus on providing value added consultative revenue cycle management services within the hospital information and patient financial space for U.S. healthcare providers, we are confident that Alan, with his proven leadership and organizational skills, will lead Pyramid on its path toward becoming both a ‘provider’ of choice for our clients and an ‘employer’ of choice for our people.”

Santos joined Pyramid this past February after more than 26 years with the U.S. Drug Enforcement Administration, most recently in the Senior Executive Service level position of Associate Deputy Administrator for the Office of Diversion Control. In that position, Santos was one of the leading controlled substance regulators for the nation and served as liaison to the pharmaceutical industry, international and state governments, and federal, state and local agencies.

“I am honored to assume this new role and responsibility at Pyramid Healthcare Solutions, an organization with a rich history in providing optimum revenue cycle management solutions to its clients,” Santos said. “I look forward to working with the exceptional Pyramid team to expand our presence throughout the healthcare community and continue to focus on what we do best – partnering with our customers to provide outstanding service and value.”

For more information about cancer registry services, health information management and revenue cycle management from Pyramid Healthcare Solutions, visit its website at www.pyramidhs.com.

About Pyramid Healthcare Solutions

Founded in 1985, Pyramid Healthcare Solutions partners with healthcare providers to assess, validate and resolve gaps in their revenue cycle, leading to improved and sustainable financial results. Pyramid offers a complete best-practice suite of revenue cycle solutions, including coding services (on-site and remote), HIM services, cancer registry, revenue cycle, revenue discovery, charge capture, accounts receivable management, patient financial services, human resources, managed care services, and education and training. Headquartered in Clearwater, Fla., Pyramid employs more than 300 credentialed, knowledgeable healthcare professionals and best practices developed with more than 500 clients. For more information on Pyramid Healthcare Solutions, visit www.pyramidhs.com.

About Salient Business Solutions

Salient Business Solution is a niche business process solution provider having global clients in diverse vertical and horizontal streams such as Customer Relation Management, Health Care, Financial Services, Human Resource and Knowledge Process Outsourcing. SBS offers cost effective, technology-enabled solutions to streamline knowledge-intensive business processes for its clients. A combination of domain, technology and process expertise allows Salient to offer end-to-end processing  services  that  reduce  costs,  increase  productivity,  ensure compliance  and  augment  the  quality  of  employee  services. The company focuses on stringent service delivery standards, continuous value addition to   make   the   process   more  efficient,  and  a  robust  delivery  and implementation  strategy. Further, Salient is backed by sophisticated IT systems and a state-of-the-art telecommunications network, including independent IPLC and sound internal networking, which ensure uninterrupted communication. For more information on Salient Business Solutions, visit www.salientbpo.com.

About Avantha

The US$4 billion Avantha Group is one of India’s leading business conglomerates. Its successful entities, in addition to Pyramid Healthcare Solutions, include BILT, Crompton Greaves, Avantha Power & Infrastructure, The Global Green Company, Biltech Building Elements, JG Containers Sdn Bhd, Solaris ChemTech, and Salient Business Solutions. With an impressive global footprint, Avantha operates in more than 20 countries, employing over 22,000 people worldwide. The Group has business interests in diverse areas including power transmission and distribution equipment and services, paper and pulp, energy and infrastructure, insurance food processing, glassware, chemicals, farm forestry, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors. For more information on Avantha group, please visit www.avanthagroup.com.

Executive Change: Pyramid Healthcare Solutions Names New Chairman and CEO
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Accounts Receivable Management

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ARMing Heroes Announces Donor Dog Tags Promo with Start of Annual Fundraiser

September 13, 2014 By Leave a Comment

ARMing Heroes, the collection industry’s charity for military veterans, today announced the start of the organization’s fifth annual No Debts for Vets Charity Fundraising Drive, which runs from September 11th through Veterans Day, November 11th, every year. Tax-deductible donations are now being accepted online at www.armingheroes.org and via mail to PO Box 353, Collingswood, NJ 08108, payable to ARMing Heroes. Pledges may be made to info@armingheroes.org.

Last year’s fund drive generated more than $50,000 in donations, the largest amount of funds raised since the organization’s inception in 2009. As a result, dozens of grants were awarded to struggling military vets and their families, most of which were disbursed to the creditors of grant recipients at the end of the year, just in time for the holidays. Typical grant awards averaged $1000 to $2000, with the largest grant in the amount of $5000.

ARMing Heroes relies on the generosity of ARM industry companies across the country to make this grant program possible. This year, the organization has made it easier than ever for companies to successfully institute a company-wide fundraiser by offering an Employee Fund Drive Starter Kit. In four easy steps, the kit outlines what is needed to announce, manage, and complete a successful employee drive.

ARMing-Heroes-dog-tagsIn addition, any company that participates in a fundraising drive and donates to the charity at specified threshold levels will receive Donor Dog Tags, customized military-style dog tags for employees to commemorate their support of military veterans. Interested companies can learn more about the Employee Fund Drive Starter Kit and Donor Dog Tags here.

ARMing Heroes is building momentum for its fifth annual fund drive based on its remarkable success over this past year.  Earlier in 2014, ARMing Heroes held its first-ever annual awards ceremony in Washington, DC, to celebrate top donors to the charity and raise awareness of the needs of military veterans facing collection problems. At the event, the organization awarded its inaugural Force Multiplier designation to Tech Lock for its exceptional commitment to the ARMing Heroes charity. Several other top-performing ARM industry companies were recognized and honored at the ceremony for their support in helping vets with financial struggles.

During its five years of service, ARMing Heroes has provided grants to nearly 100 military veterans and their families. Most grant recipients struggle with service-connected disabilities, unemployment, and delinquent debt, and have turned to ARMing Heroes for much-needed help to ease their financial burdens and get their lives back on track.

As one example, for one highly-decorated vet, Aaron Olivas, this couldn’t be more the case. The grant Mr. Olivas received allowed him to focus on improving his credit, work toward applying for a VA loan, and offered him hope in finally making his family’s dream of home ownership come true.

Stories of past grant recipients like Aaron Olivas, as well as dozens of other vets remind us all how rewarding this program can be. However, none of it would be possible without the support of generous donors like you. The charity’s flagship No Debts for Vets Charity Fundraising Drive kicks-off today, September 11th, and continues through Veterans Day, November 11th. Companies interested in getting involved are urged to visit www.armingheroes.org for more information.

About ARMing Heroes

ARMing Heroes was founded and began operating in March, 2009.  The organization’s mission is to serve the needs of U.S. military veterans, including their spouse and children. ARMing Heroes fills a charitable niche by linking people identified with employment, credit, and financial counseling needs with the accounts receivable management industry, an industry uniquely poised to help in these areas.  Persons interested in volunteering their time and others interested in applying for benefits or pledging other forms of support are encouraged to contact the organization at www.armingheroes.org.

What Can I Do Right Now to Help?

  • Visit www.armingheroes.org and donate now.
  • Friend us and post this article to your page on Facebook.
  • Tweet about this article on Twitter.
  • Join our group on LinkedIn, the ARMing Heroes Veterans Charity Supporter / Assistance Center.
  • Comment on this article online and ask us to contact you.
  • Forward this article via email to your key contacts.
  • Print this article and fax it to your local congressional office and ask them to post our website on theirs as a resource for vets

ARMing Heroes Announces Donor Dog Tags Promo with Start of Annual Fundraiser
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