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Is a collection agency a great place to work?

American Profit Recovery

We are often asked the question of whether working in the collection industry is a smart career choice. And there is no better evidence than earning a spot on the Best Collection Agencies to Work For list for 14 straight years now. Especially being in the collection industry. Working in debt collections during COVID-19.

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Impact of The GLBA on Collection Agencies

Nexa Collect

As per FTC, starting June 9, 2023 all collection agencies will be treated as financial institutions. This means all collection agencies must secure consumer data nearly the same way as banks. Failure to comply with GLBA can have severe consequences for the collection agency, especially the owners and/or the CEO.

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The Critical Role of Payment Options in Maximizing Collections

Account Recovery

This behavior, observed in the retail world, is a crucial lesson for collection agencies, debt buyers, fintechs, banks, and credit unions. The lesson for debt collection professionals? This disparity leads to higher abandonment rates on brand-specific sites. Learn more.

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Small business needs you every day, not just Saturday

American Profit Recovery

At the far end of the spectrum, numerous small retail shops and restaurants closed for good and those that did survive through the pandemic suffered tremendous losses that they now need to work day and night to make up for. What would your downtown look like without small retail shops? Pay a small business on time.

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Q3 Industry Insights: Inflation and Interest Rates Drop, Christmas Comes Early

True Accord

Tired of paying higher prices, consumers increasingly turned to cheaper alternatives, bargain hunted or simply avoided items they found too expensive, pressuring retailers to accommodate them or lose their business. The National Retail Federation is forecasting that winter holiday spending is expected to grow between 2.5%

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How a Debt Collection Agency Can Help Your Cash Flow

Credit Management Company

Everything from waste and inefficiency to poor sales and conversions can cause this problem, but the failure of clients or customers to pay what they owe is a unique issue with a clear and effective solution: professional debt collection. Types of Businesses that Benefit from Debt Collection. Return on Investment.

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Industries with the Best and Worst Recovery Rates

Nexa Collect

It is recommended to assign accounts for collections roughly when they are between 60-90 days past due for a maximum recovery rate. Based on clients we came across last year (2021), here is the average recovery rate we have seen, along with our collection agency partner(s). Retail/Consumer Misc. House Rent Collection.