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, Scheinder & 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 …

Increase Debt Recovery with the ‘Goldilocks Zone of Connection’

Increase Debt Recovery with the ‘Goldilocks Zone of Connection’

Are your collectors stuck in the friend zone with consumers? In other words, are your collectors sympathetic to consumers to the point where they feel bad asking for payment and don’t collect any money or only a small amount? Or, maybe it’s the opposite problem. Are your collectors so aggressive on collection calls that their words and behavior land them …

Thriving In Third Party Debt Collection: An Interview with John Bedard

Thriving in Third Party Debt Collection: An Interview with John Bedard

This year has seen vast, unexpected change for the credit and collection industry. As many professionals work to navigate this new world of remote work and prepare for the months to come, attorney John Bedard has been a dominant voice, guiding collectors through the struggle. We recently spoke to Bedard about his journey in the industry, his observations on doing …

Positive Language: The Secret To Collecting More On Delinquent Accounts

Positive Language: The Secret To Collecting More On Delinquent Accounts

Speaking to consumers about their delinquent accounts can stir up many (oftentimes negative) emotions. This can have a big impact on your debt collection calls. Retraining yourself and staff to replace negative or neutral phrases with positive language can produce the best call outcome possible.  To optimize your consumer interactions through positivity, first focus on tone, intentional language and breaking …

The Pending Debt Collection Rule and the Supreme Court Seila Decision

The Pending Debt Collection Rule and the Supreme Court Seila Decision

What will the Selia decision mean for the ARM industry and the pending debt collection rule? The only concrete takeaway from last month’s Supreme Court decision in the case of the Consumer Financial Protection Bureau (CFPB or Bureau) v. Seila was that the CFPB remains a federal independent agency whose director will now answer to the President. What is still …

Build Your Consumer Connection Pyramid: One Word at a Time

Build Your Consumer Connection Pyramid - One Word at a Time

Share this ArticleToday’s post is a guest blog written by Mary Shores, agency owner of Midstate Collection Solutions. The coronavirus has touched every one of us in some way and caused a great amount of fear and uncertainty. At the same time, it has required us to isolate ourselves, which means the need for true human connection has never been …

Good Communication Skills: The Future of the Collections Industry

Good Communication Skills: the Future of the Collections Industry

Share this ArticleAt this time of economic uncertainty, good communication skills have become a popular topic for experts in the debt collection industry. The role of communication now and in the future of debt collection was discussed at length during last month’s special Home Edition of Collector.Live! Several presenters took advantage of their time during the day-long virtual presentation to …

Debt Collection Companies: More Vital Than Ever to Consumers and the Credit Cycle

Debt Collection Companies: More Vital Than Ever to Consumers and the Credit Cycle

The coronavirus pandemic has been hard on the industry, causing debt collection companies to make quick decisions to keep staff safe and agencies running compliantly through remote work. Along with this, every day more news comes out about debt collection restrictions across the country. The combination of unprecedented unemployment numbers and the negative perception of debt collectors has caused some …

Collections and Servicing in the Post-Pandemic World: A Glimpse into the New Normal

Collections and Servicing in the Post-Pandemic World: A Glimpse into the New Normal

Share this ArticleThis article was written by Joann Needleman and Ann E. Lemmo, and originally was published by Clark Hill Law, and is republished here with permission. The collections and servicing industry and call centers are being hit hard as a result of COVID-19. Agencies and businesses are scrambling to supply their staff with the hardware and software to work remotely …