Is An Online Payment Option Really That Important to Your Customers? (Yes!)

Online Payment Option

Share this Article It’s hard navigating the responsibilities of managing a small business. Because day-to-day operations often take priority, long-term, revenue-driving decisions tend to get pushed aside. They shouldn’t. If you want your business to grow, you need to make it as easy as possible for customers to pay you. This means you need to think about how your company …

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 …

A Guide On Charging Credit Card Convenience Fees

credit card convenience fees

Share this Article Being a merchant is expensive. Your mission is to save money or boost profits any way you can. After all, your bottom line is at stake. This concern for the health of your business can drive you toward long-term success. But, if you try to bring in more money through credit card convenience fees, there are a …

Collection Boot Camp: Telephone Collection Communications

telephone collection communications

Share this Article Have you ever had a phone call with an unhappy debtor? Does it tend to happen more than you’d like? PDCflow’s first CAC Collection Boot Camp recap covered best practices for leaving messages, as discussed in the webinar by Courtney Reynaud, June Coleman, Kelly Parsons-O’Brien, and Shawn Suhr. But collectors have to be careful of what they …

Collection Boot Camp: Leaving Messages

Collection Boot Camp

Share this Article Is that message you just left your debtor going to get you sued? The collection industry is not immune to the effects of evolving technology. Answering machines and cell phones have altered communication strategies for agents attempting to reach their debtors, and made the waters of debt collection murkier than ever. Leaving collection messages may open collection …