30 Debt Quotes: Showing Empathy and the Burden of Debt

30 Debt Quotes: Showing Empathy and the Burden of Debt

Share this Article People can accrue debt in many ways. Some take out loans for houses, cars and school. Some overspend on restaurants or travel. Others rack up debt due to medical expenses insurance won’t cover. Whatever the reason, most end up in collections the same way – an aspect of the consumer’s life changed, leaving them unable to pay …

How Will Limited Content Messages Fit Into Your Collection Strategy?

How Will Limited Content Messages Fit Into Your Collection Strategy

Share this Article 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, …

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

First Consumer Contact Creating a Positive Consumer Experience in Debt Collection

Share this Article 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 …

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

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

Share this Article 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 …

How to Build Your Brand as a Debt Collection Agency

How to Build Your Brand as a Debt Collection Agency

Share this Article 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, …

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 Article Reprinted 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 …

Call Blocking and Right Party Contact in Debt Collection

Call Blocking and Right Party Contact in Debt Collection

Share this Article This blog post is based on information discussed in a recent California Association of Collectors (CAC) webinar and was co-authored by Neustar. Spam tagging and call blocking are causing a huge problem in debt collections. In the last two years, collection agencies have seen a drastic increase in their legitimate calls being blocked or mislabeled with Spam …

CFPB Proposed New Rule: Debt Collector Do’s and Don’ts

CFPB Proposed New Rule: Debt Collector Do’s and Don’ts

Share this Article For debt collectors, the CFPB’s notice of proposed rule (NPR) is becoming the embodiment of the phrase “hurry up and wait.” The Bureau’s proposed rule released in early May. Once it became public, the reaction from many experts was appreciation for the level of detail in the 500+ page document. Weeks after the release of the rules, …

Debt Collection and Consumer Advocacy Under the New Proposed Rule

Debt Collection and Consumer Advocacy Under the New Proposed Rules

Share this Article Unclear, outdated guidelines and contradictory court rulings make debt collection compliance hard. That’s why so many industry professionals have been eagerly reading the CFPB’s new proposed debt collection rule. Clarity on expected procedures and how to use updated technology are giving collectors hope for a more direct way to fully comply. However, it became apparent during the …

CFPB Proposed Debt Collection Rules Release: First Thoughts from Industry Professionals

CFPB Proposed Debt Collection Rules Release: First Thoughts from Industry Professionals

Share this Article Just one day after the Consumer Financial Protection Bureau (CFPB) Debt Collection Town Hall, and two days after the Bureau released its proposed new rules, Accountsrecovery.net hosted a panel of trusted ARM industry professionals to discuss first impressions of the CFPB proposed debt collection rules, and where we go from here. Rozanne Andersen, Vice President and Chief …