Direct Recovery

APRIL 18, 2023

But that debt can quickly become an anchor weighing down the entire company if growth sputters, and the resulting collections can be even more problematic than the debt in the first place. Of course, there is also the fact that you’re probably more concerned with running your own business than collecting from a failed one.

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Account Recovery

AUGUST 4, 2020

As might be expected, customer service representatives, a category of workers that include collection agents, were among the hardest hit during the early days of the pandemic, according to research that was published by the Federal Reserve Bank of St.

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Direct Recovery

APRIL 16, 2023

Wage garnishments are the ultimate threat posed by every debt collection scenario, but finding yourself on the wrong end of one doesn’t have to be a financial death sentence. The first step in implementing a wage garnishment is for the collection agent to obtain a judgment against the debtor.

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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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UK debt collections

FEBRUARY 9, 2022

Whilst the UK struggles to recover from the pandemic , its never been a better time for Businesses to use a Debt Collection Agency. Debt Collection Agencies do not just act for Businesses, there are many Debt Collection Agencies for individuals also. The cost of using a Debt Collection Agency can vary. Time saving.

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PDC Flow

JANUARY 19, 2024

The virtual conference for frontline and upper management debt collectors hosted several experts including debt collection industry professional Harry Strausser III. He spoke on maintaining a positive professional image–something that can be especially difficult in the collection industry. PDCflow can help.

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True Accord

JANUARY 19, 2021

The following is an excerpt from our recent ebook, Ten Critical Questions: The Buyer’s Guide to Digital Debt Collection Solutions. For lending organizations, the end result of these changes is that digital collections have shifted from a “nice to have” into a must-have. To download the full ebook, click here. Source: ACA ).

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Direct Recovery

MARCH 27, 2020

Understandably, this news sent shock waves through the debt collection community, and it was met with a very strong positive reaction from Senator Wieckowski’s constituents. If that should happen, what changes would we be likely to see to the California debt collection landscape? Less Rogue Debt Collection Agents.

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Collection Agent Collections Debt collector Collection Agencies 52

Direct Recovery

SEPTEMBER 4, 2022

Once you establish the basics like having some credit history and making your payments on time, the most significant factor that negatively impacts the average credit score is having a collection on your record. Are All Collections Reported to Credit Rating Agencies? How Long Do Collections Stay on a Credit Report?

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UK debt collections

JUNE 8, 2022

Letters being sent by a Debt Collection Agency to drivers who fail to pail Tyne Tunnel fees are “initimidating and misleading” debt charities have warned. The Debt Collection letters advise of potential fines and even criminal convictions. Marston Recovery and Court Enforcement Services, which is part of the CDER group.

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Collections Collection Agencies Collections Agency Collection Agent 75

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. If they don’t collect, they don’t get paid!

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Collections Collection Agent Debt Recovery Collection Companies 40

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. Collect on unpaid invoices. If others owe you money, send them to collections. Most reputable collection agencies work on contingency.

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Nexa Collect

JUNE 20, 2020

Business discussions often revolve around making and saving money, cutting costs and building upon wealth, but fewer tackle one of the embarrassing experiences of being in business: collecting money owed. What happens when they dread pursuing collections because it’s become their full-time job? Serving Nationwide. Contact us .

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Collection Industry News

JUNE 24, 2023

Risk mitigation strategies in debt collection are measures and practices implemented by collection agencies or creditors to minimize potential risks associated with debt collection activities. Here are some common risk mitigation strategies in debt collection: 1.

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Direct Recovery

APRIL 16, 2023

That one factor alone could have a substantial impact on the collections industry, and that’s before you factor in the price of gas! How Does This Impact Collections? What Can Collection Agencies Do? The post How Sky-High Vehicle Prices Could Impact the Collections Industry appeared first on Direct Recovery.

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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

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. The post Debt Collection Statute of Limitation in California appeared first on Direct Recovery.

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Collections Debt collector Legal Collections Collection Agent 59

Payment Savvy

OCTOBER 6, 2021

Collection agencies often find themselves in a tough position when attempting to collect on a delinquent account. 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. Listen to the Debtor. Convenience is key!

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The Kaplan Group

JUNE 25, 2022

When it comes to collecting commercial debt, getting mad almost never leads to getting even. How to be 30% less effective in collecting business debt. But there are concrete, research-backed reasons not to let anger take the wheel in any scenario involving debt collection – or, in fact, in any aspect of your business dealings.

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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. Reviewing the Fair Debt Collection Practices Act.

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The Kaplan Group

JUNE 25, 2020

Commercial collection agencies like ours specialize in collecting on B2B debt. If your business is getting calls from a collection agency, you may wonder how this will affect your business credit. Like personal debt, being sent to collections can affect your credit rating. If a collection agent calls you, don’t ignore it.

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Collections Collection Agencies Collections Agency Collection Agent 64

Taurus Collect

JANUARY 23, 2023

Tax season can be incredibly stressful for business owners, with many wondering how the financial decisions they make today could affect their future debt collection. In this article, we’ll explore what you need to know about taxes and debt collection to ensure that your organisation remains solvent as tax season approaches.

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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. The reason for this is that collection agencies take a percentage of the debt they collect.

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Collection Agencies Collections Agency Collections Collection Agent 52

Fico Collections

FEBRUARY 1, 2021

One area that is often left behind in digital transformation initiatives, but that has also been a focus over the last year due to uncertain economic conditions is collections. How would you rate yourself when it comes to your collections transformation? were made in 2020 in order to create a robust digital collections experience?

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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. The class action complaint alleged that the defendant violated California’s Rosenthal Fair Debt Collection Practices Act (RFDCPA) and several other state consumer protection statutes.

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Re:Ceeve

JUNE 12, 2020

Today, companies must think about the bigger picture by listening to customer needs, especially when it comes to debt collection. For years, companies have treated the debt collection process not as an opportunity, but as a relentless process of retrieving outstanding balances at all costs. What is customer self-service (CSS)?

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Re:Ceeve

JULY 21, 2020

“Software is capable of delivering extensive gains before you need to even consider debt collection agents!”. Debt collection isn’t a media darling, and you rightfully may know very little about it. Regardless of what experience you may have had with debt collection, you probably know even less about the players in this segment.

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Collections Legal Collections Collection Agent Financial Institution 63

The Kaplan Group

NOVEMBER 9, 2020

In collections, we often have to weigh risk and reward and make similar calculations. That is not always true with collections. Perhaps the biggest risk/reward scenario in collections is going to court. However, the biggest risk is the ability to actually collect. What are you risking if the deal doesn’t go well?

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Debt Recoveries

SEPTEMBER 10, 2020

Let’s face it, snail mail is dead, so your internal debt collection processes should start with some good debt collection email templates. So here are 3 debt collection templates that are guaranteed to get your customer to sit up and take notice: 1. Talk to us about your debt collection concerns via Skype at debtrecoveries.

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Collections Debt Recovery Collection Agent Credit Management 59

Credit Management Company

OCTOBER 5, 2018

The common perception of the debt collection industry in modern times is almost overwhelmingly negative. Debt collection has a significant positive impact on the economy in both a micro and macro sense, and collectors abide by regulations that maintain the dignity of consumers. Collection efforts are not a zero sum game.

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True Accord

FEBRUARY 3, 2022

We sat down with TrueAccord’s Chief Growth Officer, Sheila Monroe , who has held numerous executive-level positions at TrueAccord on top of a multi-decade career in collections, to learn more about the economics of collections and what new lending players should look for when considering a collections solution.

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Credit Management Company

DECEMBER 20, 2018

Patient collections can be a challenge any time of the year, but are particularly stressful during the Holiday season. Some collection agencies make the mistake of pausing collection efforts during this time of the year to avoid increasing tension between the healthcare provider and the patient. Timing is Everything.

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Collections Healthcare Collection Agent Collection Agencies 53

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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Re:Ceeve

MAY 28, 2020

How can a business continuously improve its collections processes and further grow? We are working with their subsidiary, Pactum Collections GmbH ("Pactum"), who are focused exclusively on collections as a master servicer and portfolio manager. Utilising AI-based decision making to optimise collections messaging.

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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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Direct Recovery

FEBRUARY 7, 2021

In what is supposed to be an increase in protections offered to consumers, an updated version of the Fair Debt Collection Practices Act (FDCPA) was passed in the fall of 2020 that brings that iconic piece of legislation up to date with modern forms of communication. This has long been a point of confusion among consumers and agents alike.

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National Service Bureau

MARCH 29, 2015

Debt collection horror stories are all too common. Threats of jail time, obscene language, stalking and harassment are frequently in the news, and CFPB statistics show a large rate increase in 2014 debt collection complaints as compared to 2013 when they started publishing data.

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