Account Recovery

MAY 14, 2021

FRANKLIN, MA – May 13, 2021 – Interactions, one of the world’s largest standalone conversational artificial intelligence (AI) companies, today announced that Aargon Agency, a leading accounts receivable management (ARM) company that works with major hospital systems and medical offices, is deploying an Interactions Virtual Collection Agent (VCA) to (..)

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Account Recovery

MARCH 16, 2021

FRANKLIN, MA – March 16, 2021: Interactions, one of the world’s largest standalone conversational artificial intelligence (AI) companies, today announced that NRA Group, a leading accounts receivable management (ARM) company, has deployed a sophisticated Interactions Virtual Collection Agent (VCA) in record time.

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Direct Recovery

APRIL 18, 2023

Commercial debt collection describes the process of hiring a professional collection agency to recover debts that are owed to your business. In most cases, some qualifications and credentials will be required to distinguish that you are working with a reputable collection agent.

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Direct Recovery

APRIL 16, 2023

The first step in implementing a wage garnishment is for the collection agent to obtain a judgment against the debtor. Once the wage garnishment is in place, a debtor can still negotiate with the collection agent to set up a repayment plan. If you need to catch up, try to work with collection agents.

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Payment Savvy

OCTOBER 6, 2021

However, there are some things that collection agencies can do to promote repayment quickly. Collection agents should listen to what the debtor has to say. Collection agents can also make the debtor feel better about repayment by changing the language they use. Listen to the Debtor. Send Payment Plan Confirmation.

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Direct Recovery

JUNE 7, 2022

Getting hassled about an outstanding collection account over social media is the last thing any consumer wants to deal with. Still, many collection agents argue that it is the most productive means of communication in 2022. Consumers also have the option to opt out of any form of communication with a debt collection agency.

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UK debt collections

FEBRUARY 3, 2023

Arvato Utility Debt Collection Agents The investigation by The Times revealed how utility debt collection agents working for Arvato Financial Solutions (on behalf of British Gas) had forcibly entered a single father-of-three’s home to install a prepayment meter. They are designed to help avoid late payments.

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Direct Recovery

MARCH 27, 2020

Having a licensing system in place would also implement serious consequences for any debt collectors who choose to disregard established rules and regulations like those stated in the Fair Debt Collection Practices Act. Less Rogue Debt Collection Agents. Fewer Consumer Complaints. Eventual Industry Consolidation.

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Direct Recovery

SEPTEMBER 16, 2022

In fact, it is considered reasonable for debt collectors to attempt to reach a consumer by phone one time each week, unless the consumer has provided the collection agent with a specific written request that they stop trying to contact them by phone. Send Letters (But Not Too Many).

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True Accord

JANUARY 19, 2021

In fact, 78% of collection agents see their calls blocked, and 74% of collection agents see their calls marked as “Spam or Fraud.” And advances in mobile technology (e.g., call blocking) have made it easier for consumers to screen calls. As a result, right-party contact rates are low and continuing to decline.

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The Kaplan Group

JULY 15, 2020

If collection agents like me are calling you, you need to reduce your debt. To avoid your account being sent to collections, you need to find ways to reduce your debt. If others owe you money, send them to collections. A trained collection agent can resolve the issue faster than your staff.

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Direct Recovery

JANUARY 17, 2021

There is no shortage of ways in which the COVID-19 pandemic has changed the way business is done around the world in 2020, and that is definitely true for anyone operating in the collections industry. Let’s break down some of the things top agents are doing to get the job done. Understanding the Situation. Keep Detailed Records.

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Direct Recovery

SEPTEMBER 4, 2022

Like anything else in the world, there are ways to get around those collection accounts if you really want to, and the first step is to make sure that any collections on your account are legitimate. If there are legitimate collections on your account that still carry balances, work with the collection agent on a payment plan.

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Debt Recoveries

MAY 14, 2023

As a debt collection expert, it’s evident that outsourcing debt recovery to a professional debt collection agent has become increasingly popular among smart companies. Here are 6 reasons why: Reason #1 – Outsourcing debt collection reduces costs.

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Direct Recovery

FEBRUARY 7, 2021

However, as you will see shortly, there are quite a few ways that the updated legislation either doesn’t go far enough to ensure protection against predatory collection agents or simply doesn’t include all of the forms of communication available today. Defining Types of Communication. Remember the Original FDCPA Rights.

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Troutman Sanders

SEPTEMBER 18, 2023

Solar Service Experts, LLC highlights the potential pitfalls for solar energy providers and their collections agents. A recent decision by the California Court of Appeals in the case of Hagey v. In Hagey , the plaintiff purchased a home the prior owner had equipped with a solar energy system.

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Debt Recoveries

SEPTEMBER 5, 2021

When we put the action on hold, we will contact any Collection Agent or solicitor that we have appointed and tell them the action is on hold. . Standards for collecting money . When we, our Collection Agent or solicitor, first communicates with you about any money owed, then we will ensure that .

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True Accord

JULY 1, 2021

With automated communications and the consumer’s ability to self-serve, TrueAccord collection agents can service 80,000 accounts at a time, compared to the typical 1,000 to 2,500 accounts that a traditional agent manages on behalf of the financial institution client.

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Collection Industry News

JUNE 24, 2023

Compliance with data protection regulations, such as the General Data Protection Regulation (GDPR), is also important, particularly for international collections. Training and Professional Development: Providing ongoing training and professional development for collection agents is vital.

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UK debt collections

FEBRUARY 9, 2022

Experience of Debt Collection. Most Debt Collection Agents are well versed in the ways that debtors will try and attempt to evade payment. It can deter any potential would be ‘non-payers’ if they know you collaborate with a Professional DCA solution. Nobody wants to deal with somebody that is not going to pay them!

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Direct Recovery

APRIL 16, 2023

Establish and Maintain Quality Relationships The essential component of any successful collection, regardless of the current economic environment, is the existing relationship between the collection agent and the consumer.

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UK debt collections

JUNE 8, 2022

Guidelines on debt recovery letter phrasing warn against using “potentially misleading” words such as “enforcement” in trading names so as not to deceive debtors.

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Direct Recovery

JANUARY 27, 2023

A statute of limitation is a legal term that defines the specific length of time before a debt is considered “time-barred” and is no longer legally collectible by either the original creditor or a collection agent.

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Better Credit Blog

APRIL 4, 2022

They play with your emotions, tapping into your existing fears and stigmas about debt collection. Agents can simply imply threats, and that’s often enough to prompt payment, such as threatening to call your employer and set up wage garnishment arrangements. Don’t Allow Them To Provoke You. Get a Free Copy of Your Credit Report.

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Sawin & Shea

FEBRUARY 1, 2023

Under the FDCPA (Fair Debt Collection Practices Act), third-party debt collection agents are not allowed to contact you asking for payment once you have filed for bankruptcy. Give the caller your case number. If calls (or letters) continue, contact your bankruptcy attorney. It is illegal.

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Payment Savvy

JULY 21, 2021

If you don’t know the differences between agent-facing vs. self-service gateways – you should! What are Agent-Facing Payment Portals? Agent-facing payment portals allow collection agents to process debtor payments over the phone. This allows each agent a custom set-up.

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Direct Recovery

AUGUST 9, 2021

In many cases, collection agents will find themselves investing hundreds of hours getting all the information into a specific format, only to find that the software is missing a critical component for delivering that information to the right place at the right time.

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Credit Management Company

APRIL 5, 2022

One way is to hire collection agencies. Finding the best collection agency partner is a reliable way to get the money your business needs. With effective collection agents, you can get paid faster and increased legal protection. So, how can you get the money your customers owe? Comparing Costs and Total ROI.

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National Service Bureau

APRIL 6, 2015

2,906 complaints were filed against debt collection companies in 2014 regarding false or misleading statements that a collection agent had made. An example of dishonest medical collection tactics is the placement of a debt collection agent in the hospital emergency room without making it known that they are a collector.

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The Kaplan Group

JANUARY 19, 2021

You can read more tips for dealing with collection agents here. Facing the problem and working it out within your financial constraints is likely the lowest cost option. Call a lawyer if necessary if the collector is violating the law. The post FDCPA: 6 Things to Know About Regulation F appeared first on The Kaplan Group.

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FFGN COLLECT NY

APRIL 20, 2021

The signature of the creditor’s collection agent would not bind the creditor to the agreement unless a power of attorney was separately executed by the creditor granting the collection agency the power to sign on the creditor’s behalf.

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The Kaplan Group

JUNE 25, 2020

Be proactive to keep the debt being sent to a collection agency which has an even bigger negative impact. If a collection agent calls you, don’t ignore it. While this strategy can buy a little time, it will hurt your credit rating. Try to work out a payment plan with your vendor.

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Nexa Collect

JUNE 20, 2020

Your collection agency will analyze your contract(s) and see where the breaches have occurred, if there are potential penalties or incentives that might be used to motivate the debtor to pay, and even help you better understand how to protect yourself in the future.

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Debt Recoveries

DECEMBER 14, 2020

Get your collection agent to conduct a credit report on potential clients. Charge interest and a recovery fee and make sure this is made clear on your credit application forms and on each invoice. Choose your customers carefully and be very clear about what you expect.

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Taurus Collect

JANUARY 14, 2021

By establishing contact with your debtors, collection agents are able to undertake a realistic and professional assessment of their situation and their chances of actually making payment of the debt.

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The Kaplan Group

OCTOBER 12, 2020

As collection agents, negotiation is at the heart of everything we do. However, negotiating just because you can could make you look petty and difficult. Negotiate if you should be getting paid more based on comparable salaries and your qualifications.

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Credit Management Company

OCTOBER 5, 2018

Collection efforts are not a zero sum game. A successful collection can benefit both the agency and the individual or family getting out of debt. Investing in the community is in everyone's best interests. Debt Relief.

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