Webinar: The Impact of Coronavirus and the Economic Downturn on the Debt Buying and Collections Industries

Michael Flock Uncategorized Leave a Comment

Michael Flock, CEO of FLOCK Specialty Finance, and panelists who are experts in the debt buying and collections industries hosted a webinar on Thursday, April 9, 2020. The panelists debated the positive and negative impacts of the COVID-19 crisis on agencies and debt buyers alike.

The expert panelists included Irwin Bernstein, an industry leader with compliance, finance, and accounting, and owner of CMS (Compliance Made Simple); Matt Maloney, President of First Financial Asset Management (FFAM) a recognized debt buyer and ARM company; and Greg Paulo, the former President of Redline Recovery, and currently VP of Business Development at FLOCK Specialty Finance.

Panelists included:

Topics of discussion included:

  • Current views about the legislative initiatives that impact collections and debt buying
  • Volatility in the valuation of debt portfolios
  • Changes in creditor behavior
  • How collection agencies can cope with the new environment of teleworking and operational ways to maximize results and minimize the risks

Whether or not you were able to attend the live event – we have made both the recording and transcript of the webinar available to the public below.

Click here to download the transcript. (.pdf)

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