Collection Boot Camp: Strategy for Success with a Collection Settlement Campaign

Collection Settlement Campaign

Share this Article With tax season around the corner, now is the best time to consider a collection settlement campaign within your agency. Collection settlement campaigns (periods during the year when collection agencies offer a discount to consumers to collect on older or unresponsive accounts) can be a win-win solution for both you and your consumers. A collection settlement campaign …

Collection Boot Camp: Chapter 13 Bankruptcy Collection Opportunities

Bankruptcy Collection Opportunities

Share this Article To a debt collector, chapter 13 bankruptcy might signify the end of the road for collecting funds owed by a debtor. But according to Gabriel Herrera, attorney at Kronick, Moskovitz, Tiedemann & Girard and guest panelist for the California Association of Collectors during their second Collection Boot Camp webinar, there are still some opportunities for you and your …

Thriving in Third Party Collections: An Interview with Richard and Tsylia Hoffman

Los Angeles Collection Service

Share this Article This edition of “Thriving in Third Party Collections” was conducted mainly with Richard Hoffman of Los Angeles Collection Service, Inc., but also includes insight from the principal collector at the agency (and Richard’s wife) Tyslia Hoffman. On December 15th, we will be celebrating our 42nd year in business. We opened our doors on that date in 1975. …

Collection Boot Camp: Bankruptcy Pitfalls and How To Avoid Them

debt collection process

Share this Article Sending a collection notice after a bankruptcy can end up costing your agency in many ways. On the surface, doing so wastes time by trying to collect on an account that cannot be collected. More importantly, if you send a collection notice in violation of a stay, your agency (and maybe even your clients) will be out …

Collection Boot Camp: Addressing CFPB Complaints

CFPB Complaints

Share this Article The Consumer Financial Protection Bureau (CFPB) is responsible for maintaining the safety of customers who interact with financial businesses. Because they create and enforce the regulations that govern the credit and collection industry, collection agencies know this organization well. But do you know the best way to handle a complaint about your business filed directly with the …

Collection Boot Camp: The Red Flags Rule and Debt Collection

Red Flags Rule

Share this Article Identity theft is an issue that all merchants should worry about, but in the collection industry, it is of even greater concern. An improperly handled claim of identity theft can damage a consumer’s credit score and sometimes take years to correct. Not only this, but you and your clients may be accused of unsafe practices that can …

Collection Boot Camp: How to Respond to Collection Disputes

Collection Disputes

Share this Article In the first Collection Boot Camp webinar, the panel, Kelly Parsons-O’Brien, June Coleman, Shawn Suhr, and Courtney Reynaud, addressed the topics of collection messages, collection telephone communications, and compliant collection letters. These subjects are the basis of running a compliant, well-functioning agency. But what happens if the debtor you speak to doesn’t agree that they owe a …

Collection Boot Camp: Creating A Compliance Management System

compliance management system

Share this Article The CFPB expects all collection agencies to have a compliance management system (CMS) in place during operation. Courtney Reynaud, President of Credit Bureau USA, and the other CAC Collection Boot Camp panelists, understand how overwhelming creating a compliant collection agency can be. “With everything else we have to do to run a successful business, compliance is probably …

Collection Boot Camp: How To Stay Compliant with Collection Letters

Collection Letters

Share this Article Collection letters are a central part of compliant debt collection. However, the CAC Collection Boot Camp panel, Courtney Reynaud, June Coleman, Shawn Suhr and Kelly Parsons-O’Brien recognize the potential liabilities inherent in drafting collection letters. Their combined expertise and Coleman’s legal know-how as the CAC’s MAP attorney provided insight and in-depth information on how to write a …

Thriving in Third Party Collections: An Interview with Brad Bingham

Third Party Collections

Share this Article This month’s installment of Thriving In Third Party Collections features CollectionCenter Inc.’s Lead Software Developer, Brad Bingham. Take a moment to get to know Mr. Bingham, and gain further insight into the personality traits and qualities that make up a successful member of the debt collection industry. I started with DAKCS software programing and tech support about …