Marian Sangalang, Vice President of The Bureaus, Inc., was invited to participate in The Compliance Forum 2018 as a featured presenter on the panel: The Debt Sales Market is Heating Up Again, But This Time With a Remarkable Difference.
Marian Sangalang and her Co-Presenters, Van Millis and Kelly Knepper-Stephens, shared the recent changes in the debt marketplace and why creditors should be considering a debt sale strategy. Among the various influences in the timing of the market, Mrs. Sangalang also stressed the importance of Receivables Management Association International (RMA) Certification and adherence to RMA standards that guide the industry.
Marian Sangalang, a well-respected veteran in the receivables management industry, has years of experience with the purchase and sale of debt portfolios as the Vice-President of The Bureaus, Inc. With her vast knowledge of the market, the presentation focused on the variables that influence the timing and pricing of a debt portfolio sales strategy. Among those considerations are the return of mid-size banks and other creditors into the marketplace, the impact of Fintech, actions of the big banks, the roles of active and passive debt buyers, and other market trends. All of these are important influences and offer important insights when creditors are considering a sale strategy to maximize resources.
Another important factor is RMA Certification. The Receivables Management Association International provides certification to both individuals and companies to create a uniform code of ethics and industry standards of best practice that meet or exceed what is required by law. These RMA standards provide an impactful guide to the actions within the purchase and sale of debt portfolios. Working with RMA Certified individuals and/or companies assures adherence to standards that focus on the protection of the consumer.
“It was an honor to present at this year’s Compliance Forum,” says Vice President Marian Sangalang. “It is an optimal time for creditors to be re-evaluating portfolios; however, with the changes in the debt sales marketplace, we must maintain the highest standards of quality and excellence while ensuring compliance with the rules and regulations that govern our industry. Working with RMA Certified individuals and companies is imperative because it assures stringent adherence to standards as well as continued participation in educational offerings and webinars to maintain certification. When considering a debt sale strategy, we urge creditors to seek partners with RMA Certification to help drive the marketplace in the right directions.”
About The Compliance Forum
Tailored specifically to the credit and collection industry, the Compliance Forum is a networking and educational event that draws hundreds of creditors. This annual event provides insightful and innovative educational offerings that provide attendees the opportunity to share information and interact with compliance professionals. This year’s Compliance Forum was presented by RightAway, LLC and was held in St. Charles, MO from October 16-18, 2018.
About The Bureaus, Inc.
The Bureaus, Inc. is a master servicer for accounts receivable portfolios. Combining cutting-edge technology, internally developed proprietary tools, and technological strategies with data mining capabilities, The Bureaus identifies opportunities not usually found by other asset management firms. Marian Sangalang, Vice President at The Bureaus, Inc., currently serves as President-Elect for RMA International and is a Master Servicer and Certified Receivables Compliance Professional (CRCP). The Bureaus, Inc. was founded in 1928 and is headquartered in Northbrook, Illinois.