Expert insights. Personalized for you.
We originally got started in the debt collection industry because we knew that FIRMS would make an impact on the debt collection industry in a very crucial way. How is your current debt collection company working for you? Do they customize their services to fit your company’s needs and wants? That’s because FIRMS has created something unique; a debt collection company that cares. At FIRMS we take great pride in our customer satisfaction. MORE
During times of change, it’s more critical than ever for companies to embrace an innovation strategy to continuously deliver on changing customer needs. But it hasn’t always been a common practice in the debt collections space, where incumbents have historically lagged in adopting new approaches. These three product leaders made the case for why, now more than ever, debt collections providers must function like high-tech startups in order to thrive. MORE
At FIRMS we realize that some of our potential clients have never worked with a debt collection company before. When to hire a collection agency. Most companies send accounts to a collection agency when they are between 90 and 120 days past due. Generally, it’s time to start thinking about hiring a collection agency if: New customers do not respond to your first attempt to collect the debt. Choosing a collection agency. MORE
New Mexico’s Attorney General Hector Balderas announced on September 29 that his office has filed three lawsuits against debt collection companies. MORE
In reality, debt collection agencies are the most useful means to get someone who has a legitimate contractual obligation to make good on their promise so that the honest businessman (perhaps yourself or your company) on the other side of the trade doesn’t get left holding the bag. Choosing the right debt collection agency is an important decision that can have both positive and negative repercussions for your business. Research the Company. MORE
The same is true of the debt collection industry. I had never given the debt collection industry much thought but once I had started doing some investigating into the industry I quickly realized all the ways I could improve upon the experience and services that were being offered by the industry leaders. One of the main area’s we researched was finding out the top complaints people had filed against other debt collection companies. MORE
Due to regulatory concerns and a general wariness of adopting new technologies, the debt collection industry has historically been slow to change. As companies across other financial industries continue to make it easier for consumers to access their own finances, that resistance may finally be waning. Point of Sale finance companies like Affirm and Afterpay are making it simple for consumers to pay for more expensive goods in installments. MORE
Article 6 Investment Law 2020 stipulates that “Debt Collection Service” is one of the businesses that are prohibited from investment. This regulation will come into force on 1 January 2021, whereby service contracts for debt collection concluded before that will be invalidated. Banning against debt collection service has resulted from that many enterprises, for recent years, have taken advantage of this business to appropriate assets or practice usury. MORE
Hence, using a collection agency is your best bet at recovering past due balances. We send letters and follow up with the debtors over the phone, diligently, efficiently and with a prime focus on collecting the outstanding amount. It has been noted that the younger generation prefer using this medium and also helps those who are not keen discussing their debt with collection agencies over the phone. If you are looking for a collection agency , look no further than us. MORE
So here are some tips and tricks that can save you some serious money and keep you away from a Debt Collection Company this X-Mas and New Year Season: Set an Affordable Budget for Spending. Collect discount coupons and codes and use them to the maximum to save the maximum on all your festive purchases. If you are a little careful and plan well in advance, you can make sure that you follow your budget strictly which will keep you away from the debt collection companies. MORE
A lot has been written about the number of complaints turning up at the CFPB regarding debt collection companies. It’s important to take the statistics with a grain of salt because the sheer number of complaints is not (in and of itself) an indicator of either good or bad debt collection behavior. As it stands, the CFPB takes complaints from consumers about the behavior of particular debt collection companies. CFPB complaint debt collection MORE
To better understand the effect this uncertainty has had on debt collection, we analyzed data from over 12 million consumers of major banks, issuers, eCommerce companies, and direct lenders. In our upcoming report, Consumer Debt in the Age of COVID-19, we use this data to review consumer repayment trends, the role of stimulus checks in that process, and what debt collection companies will need to do to adapt. What’s next for debt collection? MORE
District Court for the Western District of New York against several debt collection companies and their owners and managers, alleging violations of state and federal law, including the CFPA, the FDCPA, and New York’s UDAP statute, for debt collection practices dating back to 2015. Under the Consumer Financial Protection Act (CFPA), companies cannot engage in deceptive debt collection acts and practices, and FDCPA violations are themselves violations of the CFPA. MORE
The Middle District of Pennsylvania recently held that including line items for interest and fees in a debt collection letter when no interest or fees are sought does not violate the Fair Debt Collections Practices Act (“FDCPA”). ACS”), seeking to collect a consumer debt. MORE
AFS Acceptance is a debt collection company that pursues people for payments on outstanding debts. The presence of a collection account on your credit report can impact your credit score for up to seven years, even after you have paid off the debt. Collections MORE
If you forget to pay a bill, the original creditor may move the debt to collections. This means that you may start to get phone calls from a debt collector like AAA Collections, harassing you to repay the debt. What is AAA Collections? Dealing with AAA Collections. MORE
It also means that they have opened a collections account on your credit report. Having collection accounts on your credit score is incredibly damaging to your credit health. A collection entry can cause your credit score to drop by as much as 100 points if you leave it unchecked. MORE
Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. That is why it is so important for organizations to choose a collection agency that falls on the right side of the fence in what is otherwise a huge grey area. MORE
AG Sues Collection Agencies appeared first on AccountsRecovery.net. MORE
ITASCA, IL – Brown & Joseph / Altus, the leading Commercial Collections company in the U.S., is very pleased to announce that Ellen Reinhardt has joined… The post Brown & Joseph Welcomes Ellen Reinhardt appeared first on Brown & Joseph, LLC. Articles News news MORE
The Consumer Financial Protection Bureau (CFPB) releases raw data every year regarding complaints and collection agencies. At National Service Bureau we pride ourselves on ethical collection processes. We take extra care when dealing with sensitive accounts receivable by emphasizing the importance of customer relationships and context throughout our collection efforts. If a debtor has a complaint about collection agency behavior, the CFPB is where they report it. MORE
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. However, when the stakes don’t involve just a temporary financial inconvenience or a negligible bad occurrence, but instead, go high enough where the cash flow of the business is threatened, the resources expended to cover the financial hole drain the company’s finances and staff. MORE
While it’s smart to initially attempt collection on your own, there’s only so much work you should do. Trying to collect a bad debt is draining on your time and your resources. Eventually, it makes sense to pass the task on to a professional debt collection company. MORE
If your accounting team outsources its bad debt or unpaid receivables to a collections agency, it's also important to protect your brand. Quite simply, a negative experience with a collections company could sour business relationships and your branding. MORE
WFLA) – Carolyn Matinzi turned to Better Call Behnken for help with a 4-year-old hospital bill that her insurance company claimed it already paid. Matinzi turned to Better Call Behnken for help after receiving bills from a debt collection company that is threatening to send the debt to credit bureaus. Matinzi’s insurance company, Humana, has provided documentation that clearly shows the bills were paid in full by Humana. DADE CITY, Fla. MORE
R1 RCM Inc. [ NASDAQ:RCM ], one of the nation’s largest medical debt collection companies, has been hit in a ransomware attack. The company has more than 19,000 employees and contracts with at least 750 healthcare organizations nationwide. The company has access to a wealth of personal, financial and medical information on tens of millions of patients, including names, dates of birth, Social Security numbers, billing information and medical diagnostic data. MORE
Have you noticed a company called Aargon Agency Inc shows up on your credit report? Being pursued by Aargon Agency Inc will be accompanied by a collection account on your credit report and a drop in your credit score. Collections MORE
A number of groups, including two debt collection companies, have filed briefs with the Supreme Court in support of Facebook in a Telephone Consumer Protection Act Case that seeks to define what constitutes an automated telephone dialing system once and for all. MORE
Hiring a collection agency to help with your cash flow is an important decision you need to make for your organization. Will a collection agency damage my reputation? If you hire the wrong company, that is a real possibility. How much will a collection agency cost my business? MORE
Successfully collecting past-due accounts is a large source of revenue for organizations. For healthcare companies in particular, collecting from patients accounts for 88% more revenue than it did in the past. Improving collections, however, can require a significant amount of effort, persistence, and resources. Companies ultimately have two choices: collect past-due accounts in house or hire an outsourcing service. Possible Reasons to Collect In-House. MORE
The Plaintiff contends the defendant collection company routinely obtained skip traced phone numbers for debtors and loaded them into an autodialer for collection efforts. The post Skip Tracing TCPA Problem for Debt Collector: Court Denies Class Certification; but Gives Plaintiff a Second Chance appeared first on Collection Industry News. Well, here’s something you don’t like to see. MORE
As one of the top leading debt collection agencies in the industry, FIRMS makes it a practice to contact a portion of our clients from time to time in order to find out some of the problems they had faced in the past with other debt collection agencies and how FIRMS can perform at a higher level to meet our customers needs and wants. There had been debt collection companies in place for years that were not performing to our needs as a business.”. MORE
Debt Collection Debt Collection Company Personal Finance Debt Collection Agency Debt Collection Business Debt Collection Companies Debt Free Finances FIRMS How To Spend Medical Debt CollectionRecently BuzzFeed ran an article with one of its editors in which she set out to save money over the course of two weeks by only using cash to pay for her necessities and to put her credit card away. During the first week she set a budget of under $60. MORE
Top Complaints of a Debt Collection Agency. In 2015 there were a number of complaints against various debt collection agencies all around the United States. Of these, 1,346 related to credit card collections and 1,057 had to do with healthcare collections. FIRMS is a premier debt collection company that specializes in caring for our customers and making sure we always stand above the rest of the companies in the industry. MORE
The world of business and sales has continually developed over the years and successful companies have gone from trying to aggressively sell their products and services to potential customers to realizing and understanding that it is far more important to help their customers find a solution to their problems. FIRMS is a debt collection company that specializes in helping our customer work through difficult situations. Helping People To Get Results. MORE
Under the federal Fair Debt Collection Practice Act, a debt collector generally is a person or a company that regularly collects debts owed to others, usually when those debts are past-due. Debt collectors include collection agencies or lawyers who collect debts as part of their business. There are also companies that buy past-due debts from creditors or other businesses and then try to collect them. MORE
Debt Collection Debt Collection Company Personal Finance Business Cash Debt Debt Collection Agency Debt Collection Business Debt Collection Companies Emergency Fund Finances Greenbacks Money Saving Saving Cash Saving MoneySaving For An Emergency. A great way to get out of debt is to save and pay off your debts. Right? Sounds simple enough. MORE
Collection Companies Related Topics 
Enterprise Recovery
OCTOBER 23, 2020
If your accounting team outsources its bad debt or unpaid receivables to a collections agency, it's also important to protect your brand. Quite simply, a negative experience with a collections company could sour business relationships and your branding.
Account Recovery
SEPTEMBER 16, 2020
A number of groups, including two debt collection companies, have filed briefs with the Supreme Court in support of Facebook in a Telephone Consumer Protection Act Case that seeks to define what constitutes an automated telephone dialing system once and for all.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Firms
MARCH 12, 2016
The same is true of the debt collection industry. I had never given the debt collection industry much thought but once I had started doing some investigating into the industry I quickly realized all the ways I could improve upon the experience and services that were being offered by the industry leaders. One of the main area’s we researched was finding out the top complaints people had filed against other debt collection companies.
Firms
MARCH 25, 2016
At FIRMS we realize that some of our potential clients have never worked with a debt collection company before. When to hire a collection agency. Most companies send accounts to a collection agency when they are between 90 and 120 days past due. Generally, it’s time to start thinking about hiring a collection agency if: New customers do not respond to your first attempt to collect the debt. Choosing a collection agency.
National Service Bureau
APRIL 6, 2015
Debt collection companies walk a fine line between business efficiency in their primary function (accounts receivable management), while at the same time needing to respect the fact that the debtor is a valuable client to the business for whom they are running collections. That is why it is so important for organizations to choose a collection agency that falls on the right side of the fence in what is otherwise a huge grey area.
Firms
MARCH 15, 2019
Hence, using a collection agency is your best bet at recovering past due balances. We send letters and follow up with the debtors over the phone, diligently, efficiently and with a prime focus on collecting the outstanding amount. It has been noted that the younger generation prefer using this medium and also helps those who are not keen discussing their debt with collection agencies over the phone. If you are looking for a collection agency , look no further than us.
Firms
FEBRUARY 27, 2016
Top Complaints of a Debt Collection Agency. In 2015 there were a number of complaints against various debt collection agencies all around the United States. Of these, 1,346 related to credit card collections and 1,057 had to do with healthcare collections. FIRMS is a premier debt collection company that specializes in caring for our customers and making sure we always stand above the rest of the companies in the industry.
Firms
MARCH 12, 2016
As one of the top leading debt collection agencies in the industry, FIRMS makes it a practice to contact a portion of our clients from time to time in order to find out some of the problems they had faced in the past with other debt collection agencies and how FIRMS can perform at a higher level to meet our customers needs and wants. There had been debt collection companies in place for years that were not performing to our needs as a business.”.
Firms
FEBRUARY 19, 2016
Debt Collection Debt Collection Company Personal Finance Business Cash Debt Debt Collection Agency Debt Collection Business Debt Collection Companies Emergency Fund Finances Greenbacks Money Saving Saving Cash Saving MoneySaving For An Emergency. A great way to get out of debt is to save and pay off your debts. Right? Sounds simple enough.
Firms
MARCH 5, 2016
Debt Collection Debt Collection Company Personal Finance Debt Collection Agency Debt Collection Business Debt Collection Companies Debt Free Finances FIRMS How To Spend Medical Debt CollectionRecently BuzzFeed ran an article with one of its editors in which she set out to save money over the course of two weeks by only using cash to pay for her necessities and to put her credit card away. During the first week she set a budget of under $60.
Firms
DECEMBER 6, 2016
So here are some tips and tricks that can save you some serious money and keep you away from a Debt Collection Company this X-Mas and New Year Season: Set an Affordable Budget for Spending. Collect discount coupons and codes and use them to the maximum to save the maximum on all your festive purchases. If you are a little careful and plan well in advance, you can make sure that you follow your budget strictly which will keep you away from the debt collection companies.
Firms
FEBRUARY 27, 2016
The world of business and sales has continually developed over the years and successful companies have gone from trying to aggressively sell their products and services to potential customers to realizing and understanding that it is far more important to help their customers find a solution to their problems. FIRMS is a debt collection company that specializes in helping our customer work through difficult situations. Helping People To Get Results.
Account Recovery
OCTOBER 1, 2020
AG Sues Collection Agencies appeared first on AccountsRecovery.net.
Brown and Joseph
AUGUST 3, 2020
ITASCA, IL – Brown & Joseph / Altus, the leading Commercial Collections company in the U.S., is very pleased to announce that Ellen Reinhardt has joined… The post Brown & Joseph Welcomes Ellen Reinhardt appeared first on Brown & Joseph, LLC. Articles News news
Collection Industry News
SEPTEMBER 29, 2020
District Court for the Western District of New York against several debt collection companies and their owners and managers, alleging violations of state and federal law, including the CFPA, the FDCPA, and New York’s UDAP statute, for debt collection practices dating back to 2015. Under the Consumer Financial Protection Act (CFPA), companies cannot engage in deceptive debt collection acts and practices, and FDCPA violations are themselves violations of the CFPA.
Collection Industry News
AUGUST 4, 2020
WFLA) – Carolyn Matinzi turned to Better Call Behnken for help with a 4-year-old hospital bill that her insurance company claimed it already paid. Matinzi turned to Better Call Behnken for help after receiving bills from a debt collection company that is threatening to send the debt to credit bureaus. Matinzi’s insurance company, Humana, has provided documentation that clearly shows the bills were paid in full by Humana. DADE CITY, Fla.
True Accord
JULY 2, 2020
To better understand the effect this uncertainty has had on debt collection, we analyzed data from over 12 million consumers of major banks, issuers, eCommerce companies, and direct lenders. In our upcoming report, Consumer Debt in the Age of COVID-19, we use this data to review consumer repayment trends, the role of stimulus checks in that process, and what debt collection companies will need to do to adapt. What’s next for debt collection?
Troutman Sanders
OCTOBER 7, 2020
New Mexico’s Attorney General Hector Balderas announced on September 29 that his office has filed three lawsuits against debt collection companies.
True Accord
OCTOBER 29, 2020
During times of change, it’s more critical than ever for companies to embrace an innovation strategy to continuously deliver on changing customer needs. But it hasn’t always been a common practice in the debt collections space, where incumbents have historically lagged in adopting new approaches. These three product leaders made the case for why, now more than ever, debt collections providers must function like high-tech startups in order to thrive.
Debt Collection Answers
MARCH 18, 2016
Under the federal Fair Debt Collection Practice Act, a debt collector generally is a person or a company that regularly collects debts owed to others, usually when those debts are past-due. Debt collectors include collection agencies or lawyers who collect debts as part of their business. There are also companies that buy past-due debts from creditors or other businesses and then try to collect them.
Troutman Sanders
JULY 31, 2020
The Middle District of Pennsylvania recently held that including line items for interest and fees in a debt collection letter when no interest or fees are sought does not violate the Fair Debt Collections Practices Act (“FDCPA”). ACS”), seeking to collect a consumer debt.
Collection Industry News
SEPTEMBER 8, 2020
Article 6 Investment Law 2020 stipulates that “Debt Collection Service” is one of the businesses that are prohibited from investment. This regulation will come into force on 1 January 2021, whereby service contracts for debt collection concluded before that will be invalidated. Banning against debt collection service has resulted from that many enterprises, for recent years, have taken advantage of this business to appropriate assets or practice usury.
National Service Bureau
JUNE 26, 2015
A lot has been written about the number of complaints turning up at the CFPB regarding debt collection companies. It’s important to take the statistics with a grain of salt because the sheer number of complaints is not (in and of itself) an indicator of either good or bad debt collection behavior. As it stands, the CFPB takes complaints from consumers about the behavior of particular debt collection companies. CFPB complaint debt collection
National Service Bureau
JUNE 10, 2015
In reality, debt collection agencies are the most useful means to get someone who has a legitimate contractual obligation to make good on their promise so that the honest businessman (perhaps yourself or your company) on the other side of the trade doesn’t get left holding the bag. Choosing the right debt collection agency is an important decision that can have both positive and negative repercussions for your business. Research the Company.
Collection Industry News
AUGUST 18, 2020
R1 RCM Inc. [ NASDAQ:RCM ], one of the nation’s largest medical debt collection companies, has been hit in a ransomware attack. The company has more than 19,000 employees and contracts with at least 750 healthcare organizations nationwide. The company has access to a wealth of personal, financial and medical information on tens of millions of patients, including names, dates of birth, Social Security numbers, billing information and medical diagnostic data.
Collection Industry News
AUGUST 4, 2020
The Plaintiff contends the defendant collection company routinely obtained skip traced phone numbers for debtors and loaded them into an autodialer for collection efforts. The post Skip Tracing TCPA Problem for Debt Collector: Court Denies Class Certification; but Gives Plaintiff a Second Chance appeared first on Collection Industry News. Well, here’s something you don’t like to see.
American Profit
SEPTEMBER 30, 2020
Hiring a collection agency to help with your cash flow is an important decision you need to make for your organization. Will a collection agency damage my reputation? If you hire the wrong company, that is a real possibility. How much will a collection agency cost my business?
Credit Management Company
FEBRUARY 19, 2019
Successfully collecting past-due accounts is a large source of revenue for organizations. For healthcare companies in particular, collecting from patients accounts for 88% more revenue than it did in the past. Improving collections, however, can require a significant amount of effort, persistence, and resources. Companies ultimately have two choices: collect past-due accounts in house or hire an outsourcing service. Possible Reasons to Collect In-House.
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. However, when the stakes don’t involve just a temporary financial inconvenience or a negligible bad occurrence, but instead, go high enough where the cash flow of the business is threatened, the resources expended to cover the financial hole drain the company’s finances and staff.
Better Credit Blog
SEPTEMBER 14, 2020
It also means that they have opened a collections account on your credit report. Having collection accounts on your credit score is incredibly damaging to your credit health. A collection entry can cause your credit score to drop by as much as 100 points if you leave it unchecked.
Nexa Collect
AUGUST 6, 2020
While it’s smart to initially attempt collection on your own, there’s only so much work you should do. Trying to collect a bad debt is draining on your time and your resources. Eventually, it makes sense to pass the task on to a professional debt collection company.
Better Credit Blog
OCTOBER 2, 2020
Have you noticed a company called Aargon Agency Inc shows up on your credit report? Being pursued by Aargon Agency Inc will be accompanied by a collection account on your credit report and a drop in your credit score. Collections
National Service Bureau
APRIL 2, 2015
The Consumer Financial Protection Bureau (CFPB) releases raw data every year regarding complaints and collection agencies. At National Service Bureau we pride ourselves on ethical collection processes. We take extra care when dealing with sensitive accounts receivable by emphasizing the importance of customer relationships and context throughout our collection efforts. If a debtor has a complaint about collection agency behavior, the CFPB is where they report it.
Better Credit Blog
SEPTEMBER 30, 2020
If you forget to pay a bill, the original creditor may move the debt to collections. This means that you may start to get phone calls from a debt collector like AAA Collections, harassing you to repay the debt. What is AAA Collections? Dealing with AAA Collections.
Better Credit Blog
SEPTEMBER 30, 2020
AFS Acceptance is a debt collection company that pursues people for payments on outstanding debts. The presence of a collection account on your credit report can impact your credit score for up to seven years, even after you have paid off the debt. Collections
True Accord
JUNE 19, 2020
Due to regulatory concerns and a general wariness of adopting new technologies, the debt collection industry has historically been slow to change. As companies across other financial industries continue to make it easier for consumers to access their own finances, that resistance may finally be waning. Point of Sale finance companies like Affirm and Afterpay are making it simple for consumers to pay for more expensive goods in installments.
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