The IRS announced it is delaying processing individual tax returns until January 30th. The IRS’s software systems are being tested and tax forms are being updated to reflect changes mandated by the so-called fiscal cliff bill. This is over a week later than usual. With individual tax return processing delayed, tax refunds will be issued later too—February 8th at the earliest. The delay in tax refund payments could easily extend the “most wonderful time of the year” for online lenders and call centers. Typically by the third week of January, new loan volume abruptly slows as the holiday shopping season ends and consumers climb over the financial spending hump in the first couple weeks of the year. Some times loan customers rely on tax refunds to pay off any online loans they took out during the holiday season or first of the year.

Call centers experience their heaviest volume of the year between Thanksgiving and the second week of January. Payday loans are flying out the door as consumers turn to lenders for their holiday shopping cash. Once the presents are open, consumers apply for payday cash advances again to get them through the first couple weeks of the year. Lenders’ loan caps are in place throughout the year, however, it can be a rare occasion to reach them. It’s a different story during the holiday rush when lenders can hit these caps by 2:00 pm every day.

Currently, there is no limit to the number of payday loans a Delaware resident can take out over any given time period. But that will change on January 1, 2013 when a new law, patterned after similar laws in Washington and Illinois, takes effect. Payday lenders are anticipating changes in their systems and reporting as more states could follow in Delaware’s footsteps.

It’s Call Me Now—Centrinex’s Pioneering Web Call Back System

When a loan application lead comes into your call center, a 5-minute response time is good. Two minutes is better. But what if your representatives made instantaneous contact with applicants? That would have an unprecedented and phenomenal impact on your sales and operations. And now it’s possible with Centrinex’s Call Me Now.

Call centers generate massive amounts of data—data that is too often funneled into programs and reports that rarely see the light of day. Which is unfortunate to say the least. Never before has the need to not only store that data, but also actually make productivity and profit changing been greater. A call center’s data is where the heart of the operation thrives… or flounders.

FiSCA is a national trade association comprised of over 7,000 neighborhood financial service outlets. These financial service centers offer quick, convenient and reliable access to the financial services consumers want and need. FiSCA continually expands the number of available services to meet customer needs within...

The CFPB is a Federal Bureau that ensures consumer financial products and services work fairly for Americans. The CFPB educates consumers about abusive practices; supervises banks, credit unions and other financial companies; enforces Federal consumer financial laws; and analyzes financial information to better understand consumers,...