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Creating a Successful Collection Agent Incentive Program

Payment Savvy

Over time, however, agents do lose their zeal and ambition to rectify delinquent accounts. This is where collection agent incentive programs come in to save the day. These incentive programs motivate debt collection agents to work harder and, in turn, keep your collection agency in the black. Title changes.

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Best Practices for Call Baiting in Debt Collection

PDC Flow

But what are they baiting the agent to do? Call baiting is when the debtor attempts to trick you into breaking a law. This can be a Fair Debt Collection Practices Act violation, or violation of other laws or regulations which pertain to debt collectors. A bad experience with a previous collector may cause a debtor to worry.

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Agent Word Choices in Debt Collection

Payment Savvy

Remember that there are specific laws regulating communications between a collector and a debtor. For example, the Fair Debt Collection Practices Act (FDCPA) prohibits abusive, deceptive, and unfair practices during debt collection. As such, you want agents to be well-trained before ever speaking a word to a debtor.

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Finding A Collection Agency: Part 3 - Things to Consider

Credit Management Company

One way is to hire collection agencies. Finding the best collection agency partner is a reliable way to get the money your business needs. With effective collection agents, you can get paid faster and increased legal protection. As such, companies should be transparent about their tactics for contacting debtors as well.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Department of Education and falsely promising student loan debt relief. 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.