How Will Limited Content Messages Fit Into Your Collection Strategy?

How Will Limited Content Messages Fit Into Your Collection Strategy

As Joann Needleman, attorney at Clark Hill, explained in a recent webinar, the CFPB’s Notice of Proposed Rulemaking (NPR) is intended to make debt collection practices uniform. If everyone operates the same way, though, how will you stand out? This is where a customer service strategy for your collection agency can make a difference. To differentiate yourself, prepare now to …

Organize a Successful Working Group for Your Business

Organize a Successful Working Group for Your Business

For self-sufficient professionals, it can be hard to let go of control and share the workload. For some, this leads to recognition and exceptional accomplishments – if things go right. Oftentimes, though, tasks get forgotten, details are overlooked, and staff experience burnout. In the long run, working groups can be a more efficient way to solve difficult problems or finish …

First Consumer Contact: Creating a Positive Customer Experience in Debt Collection

First Consumer Contact Creating a Positive Consumer Experience in Debt Collection

Debt collectors face numerous challenges when trying to resolve accounts. For many agencies, call blocking has begun to decrease right party contacts. Once a consumer is on the phone, you then need to overcome stalls or objections to find out why their debt has not been paid. These are just a few of the reasons a successful conversation on the …

A Closer Look: Validation End Date, Email and Digital Communications

A Closer Look: Validation End Date, Email and Digital Communications

The comment period for the CFPB’s Notice of Proposed Rulemaking (NPR) is closing soon. Now is the time for debt collection industry professionals to take action. The only way to let the Bureau know what collectors are excited about (and what areas need more consideration) is to file comments before time is up. Many debt collectors are looking to industry …

How to Build Your Brand as a Debt Collection Agency

How to Build Your Brand as a Debt Collection Agency

The strategies and payoffs of marketing are clear-cut for B2C operations, but how do you build your brand if your industry is more nuanced? When you answer to your clients but interact daily with their consumers, what messages should you send? Which audience should you appeal to? Answering these questions will help you form your brand identity, putting you on …

How To Create a Credit Policy and Past Due Collection Procedure

How To Create a Credit Policy and Past Due Collection Procedure

Updated July 2022 The blueprint most businesses use to collect on accounts receivable is called a credit and collection policy. The guidelines are typically broken into two sections: a credit policy and a past due collection procedure. The framework can be as detailed or as broad as is necessary for your office. Providing this direction to your employees is essential. …

What You Should Know About Submitting a Comment to the CFPB’s Notice of Proposed Rule for Debt Collection: A Step-by-Step Guide

What You Should Know About Submitting a Comment to the CFPB

Share this ArticleReprinted from Clark Hill with permission from Joann Needleman The Consumer Financial Protection Bureau’s (CFPB or Bureau) Notice of Proposed Rule (NPR) is a dense 500-page document. In the NPR, the CFPB puts forth numerous proposals which seek to clarify numerous debt collection processes that span from communicating with consumers to providing a new validation form. Many agencies …

Who Is PDCflow? Meet Jacob Smith

Who Is PDCflow? Meet Jacob Smith

Share this ArticleEvery employee at PDCflow is willing to tackle tasks that may not typically land within their job description. After all, that’s what being a team is all about. But today’s interview highlights someone with perhaps the most unique position in the company. He does so much more than his job title implies. Who is PDCflow? Meet Research Analyst …

Accounts Receivable Management Definitions

Accounts Receivable Management Definitions

Managing the money customers owe your business is a vital – often overlooked – part of maintaining a healthy business. If your accounts receivable (or billing) department could use some attention, start with the basics. Here’s a glossary of accounts receivable management terms every AR billing professional should know. Accounts ReceivableAccounts receivable is the unpaid funds owed to a company …