Payment Savvy

JANUARY 7, 2021

When an account goes past due, many send the account to a reputable and compliant collection agency to obtain monies on their behalf. Even during debt collection, agencies should deliver exceptional customer service and, ultimately, end the relationship with a satisfied customer. Personalize the Collection Process.

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Direct Recovery

APRIL 18, 2023

But that debt can quickly become an anchor weighing down the entire company if growth sputters, and the resulting collections can be even more problematic than the debt in the first place. Of course, there is also the fact that you’re probably more concerned with running your own business than collecting from a failed one.

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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. What happens when they dread pursuing collections because it’s become their full-time job? Serving Nationwide. Contact us .

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Account Recovery

AUGUST 19, 2024

Bill Banning Social Media Debt Collection Passes N.Y. Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. This bill does far more than is necessary to avoid the potential for problematic collection techniques.

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Account Recovery

AUGUST 19, 2024

Bill Banning Social Media Debt Collection Passes N.Y. Kathy Hochul, that if signed, would prohibit the use of social media platforms to collect debts, for creditors or the collection agents working on their behalf. This bill does far more than is necessary to avoid the potential for problematic collection techniques.

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UK debt collections

JUNE 8, 2022

Letters being sent by a Debt Collection Agency to drivers who fail to pail Tyne Tunnel fees are “initimidating and misleading” debt charities have warned. The Debt Collection letters advise of potential fines and even criminal convictions. The initial penalty is £60 on top of the original £1.90

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Collection Industry News

JUNE 24, 2023

Risk mitigation strategies in debt collection are measures and practices implemented by collection agencies or creditors to minimize potential risks associated with debt collection activities. Here are some common risk mitigation strategies in debt collection: 1.

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Direct Recovery

MARCH 27, 2020

Understandably, this news sent shock waves through the debt collection community, and it was met with a very strong positive reaction from Senator Wieckowski’s constituents. If that should happen, what changes would we be likely to see to the California debt collection landscape? Less Rogue Debt Collection Agents.

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Payment Savvy

OCTOBER 6, 2021

Collection agencies often find themselves in a tough position when attempting to collect on a delinquent account. However, there are some things that collection agencies can do to promote repayment quickly. Collection agents should listen to what the debtor has to say. Listen to the Debtor.

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Debt Recoveries

MAY 14, 2023

As a debt collection expert, it’s evident that outsourcing debt recovery to a professional debt collection agent has become increasingly popular among smart companies. Here are 6 reasons why: Reason #1 – Outsourcing debt collection reduces costs. If they don’t collect, they don’t get paid!

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The Kaplan Group

JUNE 25, 2020

Commercial collection agencies like ours specialize in collecting on B2B debt. If your business is getting calls from a collection agency, you may wonder how this will affect your business credit. Like personal debt, being sent to collections can affect your credit rating. Why Worry About Your Credit Rating?

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The Kaplan Group

JULY 15, 2020

If collection agents like me are calling you, you need to reduce your debt. To avoid your account being sent to collections, you need to find ways to reduce your debt. Collect on unpaid invoices. If others owe you money, send them to collections. Most reputable collection agencies work on contingency.

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Direct Recovery

JUNE 7, 2022

Getting hassled about an outstanding collection account over social media is the last thing any consumer wants to deal with. Still, many collection agents argue that it is the most productive means of communication in 2022. Reviewing the Fair Debt Collection Practices Act.

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Direct Recovery

APRIL 16, 2023

That one factor alone could have a substantial impact on the collections industry, and that’s before you factor in the price of gas! How Does This Impact Collections? What Can Collection Agencies Do? The post How Sky-High Vehicle Prices Could Impact the Collections Industry appeared first on Direct Recovery.

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The Kaplan Group

JUNE 25, 2022

When it comes to collecting commercial debt, getting mad almost never leads to getting even. How to be 30% less effective in collecting business debt. But there are concrete, research-backed reasons not to let anger take the wheel in any scenario involving debt collection – or, in fact, in any aspect of your business dealings.

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Direct Recovery

JANUARY 17, 2021

There is no shortage of ways in which the COVID-19 pandemic has changed the way business is done around the world in 2020, and that is definitely true for anyone operating in the collections industry. Let’s break down some of the things top agents are doing to get the job done. Understanding the Situation. Keep Detailed Records.

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Credit Management Company

OCTOBER 5, 2018

The common perception of the debt collection industry in modern times is almost overwhelmingly negative. Debt collection has a significant positive impact on the economy in both a micro and macro sense, and collectors abide by regulations that maintain the dignity of consumers. Collection efforts are not a zero sum game.

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Debt Recoveries

JUNE 1, 2021

Unless you are actually a debt collection expert like Debt Recoveries Australia , there is a good chance that you have quite a few higher priorities than managing your company’s accounts receivable. You might even delegate that task out to an assistant or employee without much thought to collect debts fast. CC the CEO or CFO.

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Credit Management Company

DECEMBER 20, 2018

Patient collections can be a challenge any time of the year, but are particularly stressful during the Holiday season. 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. Timing is Everything.

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National Service Bureau

MARCH 29, 2015

Debt collection horror stories are all too common. Threats of jail time, obscene language, stalking and harassment are frequently in the news, and CFPB statistics show a large rate increase in 2014 debt collection complaints as compared to 2013 when they started publishing data.

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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. 5: Improper contact or sharing of information. Government.

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The Kaplan Group

NOVEMBER 9, 2020

In collections, we often have to weigh risk and reward and make similar calculations. That is not always true with collections. Perhaps the biggest risk/reward scenario in collections is going to court. However, the biggest risk is the ability to actually collect. What are you risking if the deal doesn’t go well?

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Better Credit Blog

APRIL 4, 2022

Regardless of what a debt collector might tell you, you have a lot of rights when it comes to how debt can be collected. Your rights come from the Fair Debt Collection Practices Act (FDCPA). This act lays out the rules debt collectors must follow when they attempt to collect a debt from you. Don’t Allow Them To Provoke You.

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Re:Ceeve

JULY 21, 2020

“Software is capable of delivering extensive gains before you need to even consider debt collection agents!”. Debt collection isn’t a media darling, and you rightfully may know very little about it. Regardless of what experience you may have had with debt collection, you probably know even less about the players in this segment.

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Payment Savvy

JUNE 16, 2020

Debt collection may sound simple; a consumer owes outstanding monies, so you reach out to collect on the past due balances. Every word matters in debt collection phone calls. In the same vein, the wrong word choice could open your agency to liability. The right words can get an individual to pay their debts.

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FFGN COLLECT NY

APRIL 20, 2021

You receive a callback but the person calling you is not from the firm that filed the suit, but rather is from a collection agency that claims they have authority to negotiate on behalf of the creditor. Once you receive this, you know that any settlement negotiated with the collection agency is valid. What should you do?

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Stevens Lloyd

JULY 30, 2018

The roles played by Credit Bureaus and collection agencies. The information provided by the databases helps to determine if there is a need to initiate the collection process or start litigation. there is a wide range of debt collection agencies. Collecting debts from the USA is not an impossible task.

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CSA

MARCH 24, 2021

Creditors and collections agencies have continued to signpost customers towards independent and free debt advice throughout this period, and with StepChange Debt Charity marking the week of 22 March as ? with creditors and collections agencies to the wider public on a larger scale. early engagement?

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The Kaplan Group

JANUARY 19, 2021

With the new rules, collection agencies can contact consumers more frequently. They can place up to seven debt-collection phone calls per week (and under some circumstances even more), as well as send an unlimited number of text and email messages and private social media posts. Debt collectors can call you more often.

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Taurus Collect

JANUARY 14, 2021

By establishing contact with your debtors, collection agents are able to undertake a realistic and professional assessment of their situation and their chances of actually making payment of the debt.

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Better Credit Blog

DECEMBER 2, 2020

Is your credit score suffering because of debt in collections? We’ll tell you a little more about Atlantic Credit, how debt collection works, and what you can do to get the collections agency off your credit report, stopping their calls in the process. What Debts Does Atlantic Credit & Finance Collect?

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Sawin & Shea

FEBRUARY 1, 2023

Under the FDCPA (Fair Debt Collection Practices Act), third-party debt collection agents are not allowed to contact you asking for payment once you have filed for bankruptcy. The Indiana bankruptcy attorneys at Sawin & Shea , LLCpursue collection agencies who violate the FDCPA law, during and after your bankruptcy case.

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Troutman Sanders

JUNE 21, 2023

State Activities: On June 16, Nevada Governor Joe Lombardo approved SB 276 as an update to the state’s Collection Agency Licensing Act. Originally adopted in 1969, the act provides for the licensure and regulation of collection agencies and collection agents. For more information, click here.

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Debt Recoveries

DECEMBER 14, 2020

Hi, my name is Adam Stewart, Debt Collection Expert and owner of Debt Recoveries Australia.I Profit is great, on paper, but if you have not yet collected the payments from your sales, even though your books will show a nice profit, your cash flow may well be terrible because you are still waiting for people to pay.

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Taurus Collect

APRIL 3, 2023

We will provide an overview of the legal requirements, the timeline for debt collection, potential solutions as well as key tips for achieving optimal success when trying to collect unpaid invoices owed by UK customers. Each country has its own laws and regulations, and the UK is no exception.

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Debt Recoveries

NOVEMBER 13, 2020

Hi, my name is Adam Stewart, Debt Collection Professional and owner of Debt Recoveries Australia and ADC Legal-Litigation Lawyers. Even if the business cannot pay immediately, having a guarantee makes it more likely the guarantor will talk with you, or your collection agency. Most debtors owe multiple vendors, not just one.

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PDC Flow

MARCH 16, 2021

Your payment collection agents have a lot of customer communication tasks to juggle on a daily basis. Moving from paper notices to electronic invoicing and payment collection can alleviate some of the uncertainty that many businesses currently experience – especially if the technology keeps your staff informed and in control.

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