American Profit Recovery

APRIL 7, 2022

Our team here handles medical debt collections for a wide range of medical practices around the country. In our industry, there seem to be changes all the time when it comes to how and when we are able to deal with consumers. Here is a summary of the new credit reporting for medical debt in 2022.

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Collection Agencies Collections Agency Collections Government 176

Qualco

APRIL 15, 2024

THE NEW ERA OF CONSUMER LENDING In today ’ s rapidly evolving financial landscape, the significant increase in consumer lending presents new challenges for financial institutions, particularly in managing collections.

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Collections Financial Institution Debt Recovery Unsecured Debt 78

American Profit Recovery

MARCH 4, 2022

National Consumer Protection Week in 2022 is March 6-12 and is meant to educate everyone about how to improve finances, avoid scams and fraud as well as educate consumers about their rights. Everyone here at American Profit Recovery understands that as a collection agency we need to be as transparent as possible.

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Debt collector Collection Agencies Collections Agency Education 207

Nexa Collect

JUNE 18, 2023

A medical collection agency will send written demands and make persistent phone calls to your patients. They use tools like skip tracing and data scrubbing for improved performance. Since debt collectors are on the phone all day long, they know every tactic to get paid. Need a Medical Collection Agency?

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Collection Agencies Collections Agency Collections Healthcare 130

Collection Industry News

MARCH 30, 2024

The use of AI in the sector only looks set to grow; even though just over 10% of collections firms currently employ AI-driven tools in the US, around 60% are considering implementing them. There exists undeniable risk of bias within the data that AI tools make decisions upon. But what are the ethical concerns? For example, Skit.ai

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Collections Debtor Financial services 40

PDC Flow

FEBRUARY 29, 2024

For many consumers, a tax return is the perfect opportunity to take control of outstanding debts. That’s why tax refund season is one of the busiest times of the year for debt collection agencies. Lots of companies might want to establish a tax time collection campaign but don’t know how to prepare.

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Collections Debt settlement Collection Agencies Collections Agency 96

PDC Flow

JANUARY 19, 2024

This is a quote from Leslie Bender , Senior Attorney of Health Privacy and Consumer Financial Privacy during her presentation at Collector Live , a yearly event hosted by Mike Gibb of AccountsRecovery.net. He spoke on maintaining a positive professional image–something that can be especially difficult in the collection industry.

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Collections Debt collector Creditors Collection Agent 85

FFGN COLLECT NY

JUNE 4, 2023

Are you using artificial intelligence to support your debt collection efforts? Despite fears that AI will replace all human functions, AI won’t replace your collections department. However, your collections department can work together with AI to achieve improved results.

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Collections Creditors 86

PDC Flow

AUGUST 11, 2023

Email for debt collection is more popular than ever and there are good reasons why. Types of Emails for Debt Collection Debt collectors know email serves consumers better–and many have chosen tools to make this happen. But just buying a tool isn’t going to guarantee more recoveries.

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Debt Recovery Collections Collection Agencies Collections Agency 88

Nexa Collect

JULY 1, 2021

The staff of moving companies and self-storage warehouses is not trained to go after delinquent customers professionally, nor do they access the tools needed to trace the person. There are several complex legal laws involved, even when you want to collect your own money. Consumer protection laws can be very tricky and vary by state.

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Collection Agencies Collections Agency Collections Debt collector 130

Nexa Collect

AUGUST 8, 2020

Collecting outstanding debt isn’t an easy process. If a consumer has allowed their obligations to go into delinquency they’re usually either experiencing significant financial difficulty, they’re grossly irresponsible, or they have no intention of paying. None of these situations are amenable to fast debt recovery.

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Collection Agencies Collections Agency Collections Debt Recovery 130

FFGN COLLECT NY

DECEMBER 10, 2023

Did you know that the debt collection industry in the US is valued at $20.3 With a growth rate of 4.4%, finding a solution to expedite the debt collection process is crucial. Individuals and businesses involved in debt collection must overcome numerous hurdles, including the legal consequences and technological hurdles.

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Collections Debtor Debt collector Financial services 52

Nexa Collect

JULY 28, 2020

Collecting outstanding debt isn’t an easy process. If a consumer has allowed their obligations to go into delinquency they’re usually either experiencing significant financial difficulty, they’re grossly irresponsible, or they have no intention of paying. None of these situations are amenable to fast debt recovery.

Collection Agencies 130

Collection Agencies Collections Agency Collections Debt Recovery 130

Troutman Sanders

MARCH 4, 2024

On February 29, the Consumer Financial Protection Bureau (CFPB) issued a circular to law enforcement agencies and regulators explaining how companies operating comparison-shopping tools can break the law when they steer consumers to certain products or lenders because of kickbacks. For information, click here.

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Financial services Law Firms Acquisition Debt collector 52

FFGN COLLECT NY

JANUARY 10, 2024

On Tuesday, January 9, New York Governor Kathy Hochul delivered the 2024 State of the State address, discussing certain changes that will affect debt collection within the state. The governor will also give the New York Attorney General and others more power to stop exploitative tactics and expand consumer protection laws.

Garnishment 52

Garnishment Collections Debt collector Student loans 52

American Profit Recovery

DECEMBER 27, 2021

It doesn’t matter if you come to us for commercial debt collections or medical collections, we want to make sure that your journey with our team Is one that impresses you and resolves your cashflow challenges. We mentioned the way we answer our phone as a collection agency. You can hear it in their voice.

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Collection Agencies Collections Agency Debt collector Collections 220

PDC Flow

SEPTEMBER 21, 2021

Digital debt collection, while not a new idea, has been difficult for many to implement compliantly in the past. Now, through Regulation F and the emergence of new technologies, the debt collection industry is finally beginning to see a digital transformation. Digital Debt Collection Channels.

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Collections 73

Payment Savvy

NOVEMBER 10, 2021

When a consumer defaults on payment, you first contact them about the missed payment. To collect debt more quickly, many businesses utilize collection agencies. One of the tools agencies employs when a consumer goes MIA is skip tracing. Interested to learn more about the tool?

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Collection Agencies Collections Agency Debtor Collections 98

American Profit Recovery

FEBRUARY 18, 2022

We recognize and we are sure you have experienced this over time, that many consumers are not prepared to pay at the time of service. If your organization serves customers on short notice, check out our expert tips on how to get paid quicker before implementing debt collections. It can be part of just serving customers quickly.

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Collection Agencies Collections Agency Collections 200

PDC Flow

AUGUST 10, 2021

The pandemic disrupted business operations and transformed debt collection security and compliance procedures. Standards that have been in place for a decade or more were no longer viable and agencies were forced to adopt digital collection practices almost overnight. What is Digital Collections? Digital Channels.

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Collections Collection Agencies Collections Agency Creditors 83

American Profit Recovery

DECEMBER 4, 2020

If your organization has had challenges in getting customers to pay or pay on time, you have most likely taken the steps to work with a collection agency. The right agency will help you get back on track as well as help your customers find a solution to their ongoing debt. Submitting accounts. Monitor your progress.

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Collection Agencies Collections Agency Collections Credit Bureau 164

True Accord

MAY 19, 2021

Ohad Samet, CEO and cofounder of TrueAccord Group, has been named to the inaugural debt collection advisory committee of the California Department of Financial Protection and Innovation (DFPI). Consumer protection will be especially important this year, as we emerge from the pandemic and direct economic aid to consumers decreases.

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Collections Financial Institution Debt collector Lender 94

Troutman Sanders

SEPTEMBER 26, 2023

These powerful tools were designed to inform industry professionals about the latest state and federal legislative and regulatory developments in order to aid organizations with their compliance management systems and initiatives. Please tune in to learn more about receiving this valuable tool for your organization.

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Collections 52

Troutman Sanders

MARCH 11, 2024

On March 4, the Small Business Administration (SBA) announced the next generation of the SBA’s Lender Match tool for small businesses to connect to capital through SBA’s network of approved banks and private lenders. toward the plaintiff’s litigation expenses and will publish a new Federal Register notice for proposed information collection.

Financial services 52

Financial services Garnishment Lender Banks 52

PDC Flow

FEBRUARY 16, 2024

Your staff works hard during the busy tax season and throughout the year to settle past-due accounts and collect payments for your debt collection agency. Without measures in place to prevent chargebacks, though, many of your payments could end up being disputed by consumers.

Banks 78

Banks Collection Agencies Collections Agency Collections 78

True Accord

SEPTEMBER 8, 2022

The world of regulatory compliance can be a complicated place, especially when it comes to debt collection. A debt collector may be able to assert a “Bona Fide Error Defense” in a lawsuit alleging violations of the federal Fair Debt Collection Practices Act (FDCPA). . An essential in the modern business world.

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Collections Fair Debt Collection Debt collector Government 91

True Accord

AUGUST 25, 2020

Banks are accelerating their adoption of new digital debt collection tools in anticipation of a “tidal wave of consumer debt issues” when government stimulus programs end and financial institutions stop offering forbearance and loan deferral options.

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Collections Financial Institution Banks Construction 91

FFGN COLLECT NY

JUNE 14, 2023

When a debtor owes a creditor money and the creditor is seeking assistance collecting the amount owed, the creditor can either use a collection law firm or a collection agency. Law firms and collection agencies serve the same purpose initially.

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Law Firms Collection Agencies Collections Agency Third-party Debt Collectors 52

Qualco

NOVEMBER 7, 2023

To identify the best solution for Non-Performing Loans (NPLs) , stakeholders such as lenders, servicers, and debt collection agencies need to deploy all available tools, starting a thorough appraisal of the NPL portfolio via a dedicated Workout Unit. A significant factor to consider is regulatory compliance.

Financial Institution 95

Financial Institution Debtor Loans Collateral 95

True Accord

OCTOBER 10, 2023

We’re approaching the end of the year and fall is in the air – along with consumer financial uncertainty. Economic stressors persist and are likely contributing to many consumers relying on credit to cover expenses, while the resumption of student loan payments adds another financial obligation to the mix. trillion.

Student loans 82

Student loans Student Loans Loans Personal loans 82

Taurus Collect

JUNE 15, 2023

Are you a business owner struggling to properly manage accounts receivable and collect past-due payments? It’s no surprise that debt collection is an increasingly competitive field, so understanding and leveraging the right tools could give your company the edge it needs.

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Collection Agencies Collections Agency Collections Debt collector 52

Credit Management Company

MAY 31, 2022

You may think your company has a handle on collecting past-due accounts, but the world of consumer and commercial debt collection is vast and complicated. Here are five reasons using a debt recovery service can benefit your business. In-house debt collection is complex and time consuming.

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Debt Recovery Collection Agencies Collections Agency Collections 52

Credit Corp

FEBRUARY 9, 2024

If you successfully dispute a charge, the bank will notify the merchant and return funds to the issuing consumer via a chargeback. That’s why it’s important to understand what a credit chargeback is and whether this tool is the best option at your disposal. Can a Merchant Try to Collect the Money From You After a Chargeback?

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Banks Legal Rights Collections Trade 59

PDC Flow

NOVEMBER 17, 2022

Creating a digital omnichannel strategy for debt collection is essential for the future. Technology is readily available and there are compliant ways to use it to better connect with consumers. VP Global Strategies Cedar Financial What Does Digital Collection Mean? Any collections as a result of electronic means.".

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Collections Financial services Bankruptcy 71

PDC Flow

FEBRUARY 9, 2021

Negotiation expert Joshua Weiss spoke about negotiation tactics front line collectors can use to improve call outcomes and Joann Needleman of Clark Hill discussed digital communication with consumers. Why Use Mental Rehearsal in Debt Collection? What consumers want. Science of Collections: Proven Facts.

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Collections 88

Fico Collections

MAY 2, 2023

However, any organisation affected by the new Consumer Duty updates must step back and appreciate the sheer scale of what’s required. However, it's also undeniable that there is often an alignment between consumer expectations and what will help to achieve better performance for a financial service organisation.

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Financial services Banks Lender Collections 52

PDC Flow

JANUARY 24, 2023

Like other Accounts Receivable professionals, Franklin found his career by accident when he accepted a collection job after college in 2005. He has a wide range of experience, including consumer, commercial, international and legal collections. At Cedar, many different departments work together to keep things running.

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