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CFPB Debt Collection Rules: What You Need to Know

Credit Management Company

This rule limits how often a collector can contact a debtor while also establishing rules around social media and what information must be included in a voicemail. Credit Management Company provides full-service accounts receivable and collection management programs for healthcare companies.

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Common Myths About Using a Collection Agency

Credit Management Company

However, the FDCPA only protects consumer debtors. It offers no protection to commercial debtors such as a company. Since we’ve dispelled some of the myths about collection agencies, we hope you can see these collectors aren’t evil, greedy groups and offer several means to help both businesses and debtors.

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Finding A Collection Agency

Credit Management Company

Make sure that the account collection services you look into are making contact with debtors from a domestic office. Such as healthcare services , credit cards, insurance, and so on. When you are on the hunt for the best collection agency, be sure to look for a company that will work with you to leverage your in-house processes.

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How a Debt Collection Agency Can Help Your Cash Flow

Credit Management Company

Hospitals and other healthcare providers are the most common type of organization with this problem, yet many of them have yet to get the help they need. Monitoring when certain debtors become solvent. Beyond these tactics, professional collectors know how to speak with debtors in a way that encourages payment.

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Collections at Christmas Time - Tips for Collecting During this Notoriously Difficult Season

Credit Management Company

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. However, this approach can be extremely counter intuitive - outstanding receivables affect the bottom lines of both the healthcare providers and the agency.

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Finding A Collection Agency: Part 1 - The 5 First Steps

Credit Management Company

For example, if you’re an ambulatory service or healthcare facility, you need an agency with experience working in the medical field. Find out how they track debtors. Credit Management Company has the ability to resolve payment challenges quickly with superior communications. Ask to see a typical script.

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How to Spot a Scam Call

Credit Management Company

Our patient account representatives do not threaten, shame, interrogate or otherwise show hostility toward the debtor. Not only will doing this get the collector labeled as a scammer by many debtors, but it is an illegal act that can incur severe penalties. This is why many healthcare facilities outsource their debt collections.