Does Your B2B Debt Collections Company Offer Brand Protection?

Enterprise Recovery

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.

Collection Companies Among Group Filing Briefs Urging Supreme Court to Narrow ATDS Definition

Account Recovery

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.

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FIRMS: A Better Debt Collection Company

Firms

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.

When and How to Hire a Debt Collection Company

Firms

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.

Top 6 Complaints Against Debt Collection Companies

National Service Bureau

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 – The difference maker in your collections!

Firms

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.

Top Complaints Of A Debt Collection Agency

Firms

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.

Customer Interview

Firms

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.”.

Saving For An Emergency

Firms

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.

How To Save Money With Cash

Firms

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.

Avoid Debts During X-Mas / New Year Season through Wise spending Habits – Some Tips & Tricks

Firms

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.

Helping People To Get Results.

Firms

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.

N.M. AG Sues Collection Agencies

Account Recovery

AG Sues Collection Agencies appeared first on AccountsRecovery.net.

CFPB, NY AG Sue Alleged Collection Scammers

Account Recovery

Brown & Joseph Welcomes Ellen Reinhardt

Brown and Joseph

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

CFPB and NY AG Sue over Debt-Collection Practices

Collection Industry News

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.

Insurance company, debt collector review Dade City woman’s 4-year-old hospital bill

Collection Industry News

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.

Consumer Behavior During COVID-19 Crisis Provides Insights Into a New Era of Debt Collection

True Accord

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?

New Mexico Joins Operation Labeled “Corrupt Collector” and Sues Three Collection Agencies

Troutman Sanders

New Mexico’s Attorney General Hector Balderas announced on September 29 that his office has filed three lawsuits against debt collection companies.

Trade 52

Webinar Recap: TrueAccord Discusses the Future of Digital Debt Collections

True Accord

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.

Mar 18, What is a debt collector?

Debt Collection Answers

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.

Collection Letter Showing a Zero Balance for Interest and Fees Did Not Violate the FDCPA

Troutman Sanders

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.

Concerns over prohibition against debt collection service

Collection Industry News

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.

Trade 40

Keeping Debt Collection Complaints in Perspective

National Service Bureau

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

3 Tips for Hiring a Debt Collection Agency

National Service Bureau

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.

Medical Debt Collection Firm R1 RCM Hit in Ransomware Attack

Collection Industry News

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.

Skip Tracing TCPA Problem for Debt Collector: Court Denies Class Certification; but Gives Plaintiff a Second Chance

Collection Industry News

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.

On the fence about hiring a collection agency?

American Profit

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?

In-House vs. Outsource - What Makes Sense for Your Collection Operation?

Credit Management Company

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.

Debt Collection Process: Using a Revenue Recovery Service

Nexa Collect

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.

How to Remove Waypoint Resource Group from Your Credit Report

Better Credit Blog

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.

How Do I Send Debt to Collections?

Nexa Collect

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.

How to Remove Aargon Agency Inc from Your Credit Report

Better Credit Blog

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

Debt Collection Complaints: Year in Review

National Service Bureau

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.

How to Remove AAA Collections from Your Credit Report

Better Credit Blog

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.

How to Remove AFS Acceptance from Your Credit Report

Better Credit Blog

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

How are Fintech startups changing debt collection?

True Accord

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.