Successful Debt Collection Techniques to Overcome Objections

Successful Debt Collection Techniques to Overcome Objections

Dealing with stalls and objections during debt collection is just part of the job. But there’s a lot more to debtors than a simple unwillingness to pay. Kelly Parsons-O’Brien, outgoing president of the California Association of Collectors has spent years in the business learning not just how consumers stall, but why. In a webinar put on by the CAC, she …

Digital Operations Impact on Debt Collection, from Team Structure to ROI

Digital Operations Impact on Debt Collection, from Team Structure to ROI

Justin Franklin, Vice President of Global Strategy and Execution at Cedar Financial recently sat down for an interview with PDCflow’s Dawn Updike. They discussed how digital operations impact team structures and revenue, measuring ROI and more.Like other Accounts Receivable professionals, Franklin found his career by accident when he accepted a collection job after college in 2005. He has a wide …

How to Create and Measure an Omnichannel Strategy in Debt Collection

How to Create and Measure an Omnichannel Strategy in Debt Collection

Creating a digital omnichannel strategy for debt collection is essential for the future. Technology is readily available and there are compliant ways to use it to better connect with consumers. How do you know what you’re planning (or what you’ve already set up) is working as well as it could? Three digital collections experts, Pran Navanandan, Halsted Financial Services, Dianne …

Don’t Wait! Adopt Text and Email Communications, Grow Agency Market Share

Don’t Wait! Adopt Text and Email Communications, Grow Agency Market Share

Do you pick up the phone when a stranger calls? Most of your consumers don’t. So why keep trying something that doesn’t work? Three digital technology advocates and ARM industry professionals spoke with AccountsRecovery.net to share why text and email are now more than necessary. Megan Bryant, Credit Collection Partners, Wade Isbell, Professional Credit Services, and Chris Repholz, The CCS …

Experts Answer 7 Questions: How Digital Strategists Fit in Debt Collection

Experts Answer 7 Questions: How Digital Strategists Fit in Debt Collection

Digital channels for communication are common, cost effective, expected – and perhaps most importantly – wanted by consumers. But for years, debt collection has been trapped between trying to propel their agencies forward with new technologies and being held back due to compliance fears. Now, with permission given through Regulation F, those who haven’t dipped their toes into digital strategy …

What to Know About Expanding Your Business into First Party Collections

What to Know About Expanding Your Business into First Party Collections

Many debt collection agencies are looking for business expansion opportunities to bring in more revenue. As a result, first party collection and extended business office (EBO) services are becoming more popular offerings.The Difference Between First Party and Third Party CollectionsFirst party collection means you are collecting late payments on behalf of your client under their branding – before accounts become …

Top Digital Communication Tools and Leading Channels for Taking Payments

Top Digital Communication Tools and Leading Channels for Taking Payments

Accounts receivable experts are still navigating the best ways to implement digital communication tools and optimize digital strategies. Agency owners want to use email, text, web chats, payment portals and other current technology. But many people don’t know which channels are the best for them and their consumers. As webinar panelists, Jill Kennady, Resurgent Capital Services, Jordan McWilliams, Contract Callers, …

Can’t Miss Expert Takeaways to Create a Digital Communication Strategy

Can’t Miss Expert Takeaways to Create a Digital Communication Strategy

Regulation F, consumer preferences and better software options all point toward the same conclusion – having a digital communication strategy in debt collection should be the norm. However, change is hard. Many agencies are still hesitant to commit to digital strategies. In a recent Accountsrecovery.net webinar, experts Jill Kennady, Resurgent Capital Services, Jordan McWilliams, Contract Callers, Inc., and Cody Owens, …

Digital Debt Collection: How Consumer Preference Can Drive Higher Revenue

Digital Debt Collection: How Consumer Preference Can Drive Higher Revenue

Digital debt collection, while not a new idea, has been difficult for many to implement compliantly in the past. Now, through Regulation F and the emergence of new debt collection technology, the debt collection industry is finally beginning to see a digital transformation. Debt Collection agency operating models have begun to include more digital tools and the future of debt …

Debt Collection Workflow Optimization in the Digital Era

Debt Collection Workflow Optimization in the Digital Era

Workflow optimization is a trial and error process. It takes attention, time and patience to find the right system for the type of debt you’re collecting. In a recent webinar, “Developing the Optimal Workflow for Your Collection Process,” by Accountsrecovery.net, three debt collection experts discussed ways to adjust your systems, where to look for improvements and how to analyze the …

Digital Collection Strategies: The Key to Better Business Operations

Digital Collection Strategies: The Key to Better Business Operations

The events of the last year had a huge impact on the accounts receivable industry. The pandemic disrupted business operations and transformed debt collection security and compliance procedures. Standards that have been in place for a decade or more were no longer viable and agencies were forced to adopt digital collection practices almost overnight.What is Digital Collections?Agencies have now spent …

3 Effective Communication Strategy Tips for Debt Collectors

3 Effective Communication Strategy Tips for Debt Collectors

I opened my debt collection agency in 1998. From day one, the stressful phone calls started to take a toll on me. Sometimes I would lose sleep at night because I was stressed about potential lawsuits, consumer complaints, or losing clients. In 2005, all of that changed. One day, after a series of frustrating collection calls, I just looked at …