Effective Communication Strategies for Collectors: 3 Tips to Impact the Bottom Line

Effective Communication Strategies for Collectors: 3 Tips to Impact the Bottom Line

I opened my debt collection agency in 1998. From day one, the stressful phone calls started to take a toll on me. Sometimes I would lose sleep at night because I was stressed about potential lawsuits, consumer complaints, or losing clients. In 2005, all of that changed. One day, after a series of frustrating collection calls, I just looked at …

How Listening to Customers Improves Debt Collection Recovery Rates

How Listening to Customers Improves Debt Collection Recovery Rates

Listening to customers keeps them happier, boosts retention and helps companies identify areas of improvement. In debt collection, listening is a key skill to look for in a new hire. It is an essential part of consumer interactions, determining the success (or failure) of the calls your agents make. Deep Listening Communication and collections professional Mary Shores is a vocal …

3 Quick Tips to Create a Connected Consumer Experience

3 Quick Tips to Create a Connected Consumer Experience

One of my favorite quotes is by the author Maya Angelou: “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” This is clearly a great quote for people interested in personal development because it perfectly captures the importance of leaving a lasting, positive impression …

Hunstein Decision: Collection and Consumer Attorneys Weigh In

Hunstein Decision: Collection and Consumer Attorneys Weigh In

The recent Hunstein decision has been a big talking point for debt collection since the ruling was made. Agencies are scrambling to understand the implications of this case, which found transmitting data from a debt collector to a letter vendor is a violation of third party disclosure, even as new suits are being filed. To get a handle on this …

Collection Success: The Art and Science of Mental Rehearsal

Collection Success: The Art and Science of Mental Rehearsal

Another year of Collector.Live! content is in the books, and the speakers did not disappoint. Negotiation expert Joshua Weiss spoke about negotiation tactics front line collectors can use to improve call outcomes and Joann Needleman of Clark Hill discussed digital communication with consumers. Another inspiring speaker, Mike Hiller of American Profit Recovery, discussed the benefits of mental rehearsal for improving …

4 Core Negotiation Tactics for Collections

4 Core Negotiation Tactics for Collections

Collector.Live! has wrapped up another program full of speakers, panels and inspirational knowledge. Front line collectors gained insight on everything from the impacts of Regulation F to the positive impacts of mental rehearsal on job performance. One such speaker, Dr. Joshua N. Weiss, who is a negotiation and conflict resolution expert and President of Negotiation Works, Inc., taught attendees the …

The CFPB Completes Debt Collection Rulemaking

The CFPB Completes Debt Collection Rulemaking

This article was written by Joann Needleman, Ann E. Lemmo, and Leslie C. Bender. It was originally published by Clark Hill Law and is republished here with permission. On Dec. 18, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) completed its seven-year rulemaking process for debt collection. In 2013, the CFPB embarked on an ambitious journey to write regulations to interpret the 40-year-old Fair Debt …

The CFPB Issues Regulation F, but the Debt Collection Rules Are Far From Final

The CFPB Issues Regulation F, but the Debt Collection Rules Are Far From Final

This article was written by Joann Needleman, Leslie C. Bender and Ann E. Lemmo. It was originally published by Clark Hill Law and is republished here with permission. The long-awaited Final Rule (Regulation F) for the Fair Debt Collection Practices Act (FDCPA) was issued Friday afternoon, concluding a seven-year rulemaking process. In its official press release, the Consumer Financial Protection Bureau’s (CFPB or Bureau) Director, …

A Debt Collection Compliance Minefield: Call Baiting

A Debt Collection Compliance Minefield: Call Baiting

Adapting live conferences to a digital format has created many challenges for events coordinators this year. However, trade organizations – like the California Association of Collectors (CAC) – remain dedicated to providing resources and networking opportunities for members, just as in years past. During one session, Amanda Griffith, partner with Berman, Berman, Berman, Schneider & Lowary, LLP, discussed debt collection …

Thriving in Third Party Debt Collection: An Interview With Lauren Valenzuela

Thriving in Third Party: An Interview With Lauren Valenzuela

In accounts receivable, it’s important to stay informed about upcoming legislation and other changes that will impact business (especially during major disruption, like the events happening this year). Lauren Valenzuela has been watching the trends and staying up-to-date with the latest in AR compliance as part of her job as Corporate Counsel, Performant Financial Corp. We had the pleasure of …