Consequences Of Debt Collection Harassment
Overly repetitive phone calls, threats, and other tactics can be considered creditor harassment. In this article we cover the consequences of harassment during debt collection.
Outstanding Debt Reduces Injury Settlements
Being injured in an accident is scary, especially when the bills start to pile up. However, going after the negligent party responsible for your injuries can result in a settlement to cover those bills. As a personal injury lawyer can share, a settlement grants financial relief to the injured party. Unfortunately, if you have outstanding … Read more
Demand Letters: 4 Things to Know
Clients often want to know about demand letters. They may consider having an attorney send a demand letter before turning it over to collections. Paying an attorney for an hour or two to write a letter is less expensive than a collection agency contingency fee. But, a letter itself may not actually get you paid. … Read more
Give Your Company More Leverage If Your Customer Does Not Pay
All too often, commercial debt collection becomes a negotiation. At that point, the stronger the position our client has, the better the deal we typically can negotiate. This could be more money, faster payments, avoiding court, or if necessary, the final outcome in court and the subsequent judgment collection process. Surprisingly, the vast majority of … Read more
FDCPA: 6 Things to Know About Regulation F
We’ve talked about the FDCPA before. This is the federal law that protects consumers from being harassed by debt collectors. As we’ve mentioned before, the law applies only to consumer debt, not businesses. The law also only applies to outside debt collectors, not companies who are owed the money for product or services they provided. … Read more
State of the Collections Industry in 2021
How did Covid-19 and the resulting economic downturn affect the collections industry? We may not know all the ramifications for a few years, but it’s clear that things have changed and will continue to do so. While delinquency levels did not spike, it is unclear how consumers will manage their obligations as the recession continues. … Read more
Collection Acronyms: 10 You Should Know
Most people think that the acronyms and terms they know are common knowledge. But the truth is that every field has its jargon and acronyms. Collections is no different. Whether you’re talking to your accounts receivable department, or hiring a collection agency, you are likely to hear a lot of terms you don’t know. You … Read more
5 Accounts Receivable Trends for 2021
What will be different about accounts receivable in 2021? Most of us will be pretty eager to leave 2020 behind. But, a lot of what we’re experiencing now, will most likely carry over into the new year. At least in terms of the economy. Here are 5 trends I’m expecting to see emerge or continue … Read more
Diversity and Office Holidays
Thanksgiving is almost here, which means it’s actually time to start thinking about your office and the winter holidays. Just like everything else, the holidays are going to be a little different this year. This year, with so many offices still working remote, trying to bring people together around the holidays is especially challenging and … Read more
Risk & Reward: A Collection Agent’s Point of View
Risk and Reward are the two sides of almost every business deal. What are you risking if the deal doesn’t go well? What will you gain if it does go well? Does the reward justify the risk? In collections, we often have to weigh risk and reward and make similar calculations. When trying to decide … Read more
