Credit Cards Online Information

CHAMPIONSGATE, Fla. -- TransUnion, a leading global information solutions company, today led a general session panel discussion entitled "Gearing up for Bankruptcy Reform - A Unique Industry Perspective" at the 14th Annual Credit Card Collections Conference in ChampionsGate, Florida.

The panel was comprised of industry leaders from Citibank; the Association of Independent Consumer Credit Counseling Agencies; Money Management International, a credit counseling company; and a leading bankruptcy law firm. Participants discussed their respective roles in preparing for the bankruptcy reform laws that went into effect today. The panel also addressed new technologies and processes aimed at helping lenders, collection agencies and credit counseling companies more effectively work together in the post-reform environment.

Addressing a crowd of more than 200, panel moderator Mike Rosenthal, director of Debt Management Solutions at TransUnion, initiated the discussion by saying, "some innovative tools have entered the marketplace to assist credit grantors in devising treatment strategies that match an individual consumer's financial situation. Our panelists today represent industry leaders who are adapting and improving their roles based on this technology and on the needs of both consumers and businesses."

Earlier this year, TransUnion announced a debt management model, which credit counseling companies can use along with their core services to quickly assess whether consumers exhibit strong indicators for rehabilitation through temporary budget restructuring or a debt management plan. The score also assists lenders in making objective decisions to offer improved concessions, such as lower minimum payments, reduced interest rates or the removal of late penalty fees to those consumers who are most in need.

# posted by Medical Information : 2:06 AM