What will the Seila decision mean for the ARM industry and the pending debt collection rule? The only concrete takeaway from last month’s Supreme Court decision in the case of the Consumer Financial Protection Bureau (CFPB or Bureau) v. Seila was that the CFPB remains a federal independent agency whose director will now answer to the President. What is still …
Build Your Consumer Connection Pyramid: One Word at a Time
Share this ArticleToday’s post is a guest blog written by Mary Shores, agency owner of Midstate Collection Solutions. The coronavirus has touched every one of us in some way and caused a great amount of fear and uncertainty. At the same time, it has required us to isolate ourselves, which means the need for true human connection has never been …
Good Communication Skills: The Future of the Collections Industry
At this time of economic uncertainty, good communication skills have become a popular topic for experts in the debt collection industry. The role of communication now and in the future of debt collection was discussed at length during last month’s special Home Edition of Collector.Live! Several presenters took advantage of their time during the day-long virtual presentation to talk about …
Debt Collection Companies: More Vital Than Ever to Consumers and the Credit Cycle
The coronavirus pandemic has been hard on the industry, causing debt collection companies to make quick decisions to keep staff safe and agencies running compliantly through remote work. Along with this, every day more news comes out about debt collection restrictions across the country. The combination of unprecedented unemployment numbers and the negative perception of debt collectors has caused some …
Collections and Servicing in the Post-Pandemic World: A Glimpse into the New Normal
Share this ArticleThis article was written by Joann Needleman and Ann E. Lemmo, and originally was published by Clark Hill Law, and is republished here with permission. The collections and servicing industry and call centers are being hit hard as a result of COVID-19. Agencies and businesses are scrambling to supply their staff with the hardware and software to work remotely …
Debt Collection Call Tips: Quality Over Quantity
Consumers are becoming harder than ever to reach. Call blocking, call screening, and consumer preference for text, email, and other digital communication methods make right-party contact on a collection call more difficult. Many debt collection industry professionals have recognized this trend. Instead of speeding through debt collector calls to increase the number of contacts made each day, many are advocating …
How to Use Email and Text in Your Debt Collection Strategy
Traditional communication methods like telephone calls and paper correspondence are becoming less popular with consumers. As new digital communication methods emerge, consumers expect companies to keep up with tech trends by offering communication methods they most prefer. Unfortunately, heavily regulated industries like debt collection have been slow to respond to this trend, fearing lawsuits due to non-compliance. During a PDCflow …
Education and Motivation for your Debt Collection Team
Share this ArticleThis is a summary of a select few presentations at Collector Live 2020. A full recording of the event which includes many additional speakers is available for purchase at Collector.live. Another Collector Live show has come and gone. This one-day virtual conference offered information to help personnel from every level of your debt collection team to improve and …
Payment Negotiation Tips for Past Due Accounts
It’s never a bad time to learn new debt negotiation tips or refresh yourself – and your team – on the best practices for negotiating payments on past-due accounts. Accountsrecovery.net hosted a webinar with three credit and collections experts to discuss payment negotiation tips for accounts receivable teams:Beth ConklinAccount Executive State Collection Service, Inc.Mike HillerVice President of Collections American Profit …
Credit and Collection Industry Experts Reveal 2019 Surprises and 2020 Trends
Last year brought on the beginning of many changes for the credit and collection industry. The Consumer Financial Protection Bureau (CFPB) announced a Notice of Proposed Rulemaking (NPR), digital communications are becoming part of the conversation for debt collection, and data privacy concerns are now front and center. Accounts Receivable professionals from all across the industry spent the end of …
How To Succeed in Healthcare Collections: Communication, Education and Empathy
Share this ArticleRecently, Accountsrecovery.net hosted a webinar on the New Dynamic of Healthcare Collections. The panelists, Jay Gonsalves, Christian Lehr and W. Judd Peak spoke about their experiences in medical collections, and what changes they’ve seen after the recent news surrounding litigation to recover unpaid medical bills. Throughout the hour-long conversation, the panel addressed provider concerns about risk to their …
How To Use Social Media in Accounts Receivable
Share this ArticleBy now, social media has become part of almost everyone’s daily life. Even for businesses, it’s expected to have a presence on at least one platform. However, using social media is tricky for those in Accounts Receivable. Does your agency know how to use social media? Do you understand why it’s so important? Why Use Social Media In …
