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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Accounts Receivables Management Collection Agent Collections 147

Account Recovery

AUGUST 7, 2024

Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. A bill is before New York Gov. The bill pass both houses of the New York legislature back in June.

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Taurus Collect

MAY 24, 2022

However, a bankrupt customer is a massive blow to the collection agent, as debt recovery becomes a long, tedious process. Looking for a reputed debt collection agency to assist your business in conducting a hassle-free collection of debts? In such cases, generally, collateral is kept against the given debt.

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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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Direct Recovery

JULY 31, 2024

Attempt to Collect Time-Barred Debts Commercial debt collection agencies are also going to be held to the same rules and regulations as anyone else when it comes to time-barred debts. The post 5 Things a Commercial Debt Collection Agency CANNOT Do to Help You appeared first on Direct Recovery.

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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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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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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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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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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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Account Recovery

AUGUST 19, 2024

Bill Banning Social Media Debt Collection Passes N.Y. Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. Legislature A bill is before New York Gov. More details here.

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Account Recovery

AUGUST 19, 2024

Bill Banning Social Media Debt Collection Passes N.Y. Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. Legislature A bill is before New York Gov. More details here.

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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

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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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

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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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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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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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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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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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

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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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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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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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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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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National Service Bureau

MARCH 29, 2015

2012: The NY Times reported on a national collection agency exposed for aggressive tactics in Minnesota hospitals. Company documents allegedly indicated tactics such as embedding collection agents in emergency rooms and attempting to coerce payment upfront.

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PDC Flow

FEBRUARY 27, 2025

What are some other debt collection practices that can protect you from call baiting? Ensure your collection agents take detailed notes on their calls, especially those who mention representation. If a caller is still working with a lawyer, ask them for the contact information and end the conversation.

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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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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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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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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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Fico Collections

FEBRUARY 1, 2021

were made in 2020 in order to create a robust digital collections experience? Did the economic uncertainties at the early stages of the pandemic cause you go out and internally hire teams of collection agents or give the green light to your 1st or 3rd parties to do the same?

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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

DECEMBER 20, 2018

When making collection calls during the Christmas season, make sure the patient understands that the call is about working to resolve his or her debt, not just about collecting a payment. A patient who’s interested in working out a new payment arrangement is interested in keeping the cash flowing.

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Re:Ceeve

MAY 28, 2020

We are going live with multiple clients and feel that we can drive the necessary change in the collections industry with our solution. We need to work together with clients to get away from thinking like collections agents. Their customers expect more. They want choices in digital channels and to be treated fairly.

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Re:Ceeve

JUNE 12, 2020

When a customer is experiencing financial hardship or facing a challenging situation in their personal life, the last thing they want to do is pick up the phone and discuss it with a debt collection agent or team member.

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