Database marketing: from promise to practice

Article Abstract:

Database marketing can be a very effective medium for credit institutions. In addition to being economically feasible, this practice can help credit lenders identify potential borrowers quite easily with the use of basic screening techniques, track their own marketing performance over time, and create predictive models that can be used to improve their marketing efforts and cost effectiveness. Unfortunately, like other marketers that have come to expect database marketing to be a panacea, many lenders fail to reap the promised benefits of this medium. Database marketing initiatives fail because many credit institutions have yet to overcome the 'get me a list and mail it' mentality, because they do not have the right decision-making tools or because of organizational barriers. Some suggestions are offered to help credit institutions improve their database marketing practices.

Marketing, Consumer credit, Commercial credit, Database marketing

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ICA reaches out with new member benefits

Article Abstract:

The International Credit Assn's (ICA) latest member benefits are the online service LEGI-SLATE and a two-hour ICA Audio Bankruptcy Seminar.The association has concluded an agreement that will give its members access to The Washington Post Co's LEGI-SLATE service at discounted rates. This service provides state and regulatory information, including state legislative, regulatory and industry developments; congressional and regulatory information; and news services. The bankruptcy seminar, to be held on Oct 29, 1997, will be conducted by bankruptcy expert William Mapother of the law firm Mapother and Mapother. He is expected to discuss such issues as the functions of bankruptcy management, creditors' rights in bankruptcy and the latest developments of the Bankruptcy Review Commission.

Professional Organizations, Professional Membership Assns, Services, Associations, Professional associations, International Credit Association

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Creditors - you are your collector's keeper! How to stay out of the headlines

Article Abstract:

Creditors should never believe that they are protected from liability for the abusive and illegal collection practices of their third-party collectors. The number and severity of collection practice lawsuits, as exemplified by the 'Driscol v. Allied Adjustment Bureau' case, should serve as a wake up call to creditors under the false impression that they are immune. In the aforementioned case, both the creditor and agency were found liable and required by the jury to pay $11 million. Although creditors are not covered by the federal Fair Debt Collection Practices Act, they are not exempt from debt collection practice statutes in several states and common law. Guidelines that creditors may consider using to stay out of legal trouble are presented.

Business Support Services, Credit & Collection Services, Credit Reporting and Collection, Cases, Financial information services, Collection (Accounting), Collection agencies

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