Breaking Down Regulation F’s Debt Validation Notice

Breaking Down the Debt Validation Notice Under the CFPB’s Reg F Rule

Legal professionals for the ARM industry, like Leslie Bender and Joann Needleman of Clark Hill Law, have been addressing Regulation F implementation challenges since the rule was proposed. Since then, they have continued to be a guiding voice for debt collectors throughout the rulemaking process. Recently, they sat down with PDCflow’s Sales & Marketing Manager Dawn Updike to discuss one …

FDCPA Compliance: Answering Your Questions About Regulation F

FDCPA Compliance: Answering Your Questions About Regulation F

The implementation date for the CFPB’s Regulation F is coming. On November 30, 2021, debt collectors are expected to be fully ready to comply with this long-awaited rule. To help agencies prepare, PDCflow and financial services attorneys Joann Needleman and Leslie Bender of Clark Hill Law, recently put on a one-hour webinar, “Regulation F Implementation Challenges: Ask the Regulatory and …

Digital Debt Collection: How Consumer Preference Can Drive Higher Revenue

Digital Debt Collection: How Consumer Preference Can Drive Higher Revenue

Digital debt collection, while not a new idea, has been difficult for many to implement compliantly in the past. Now, through Regulation F and the emergence of new technologies, the debt collection industry is finally beginning to see a digital transformation. Agency operating models have begun to include more digital tools and the future of debt collection is likely to …

Credit and Collection Industry RoundUp: 12 Books for Leadership and Personal Development

Credit and Collection Industry RoundUp: 12 Books for Leadership and Personal Development

It’s impossible to measure how much a good book can influence one’s life. Reading can help you relax, teach you a new skill or even impact your career. That’s why we reached out to PDCflow customers and other Accounts Receivable industry professionals with one simple question: What book has influenced your professional development or helped you build your business? Here’s what …

Debt Collection Workflow Optimization in the Digital Era

Debt Collection Workflow Optimization in the Digital Era

Workflow optimization is a trial and error process. It takes attention, time and patience to find the right system for the type of debt you’re collecting. In a recent webinar, “Developing the Optimal Workflow for Your Collection Process,” by Accountsrecovery.net, three debt collection experts discussed ways to adjust your systems, where to look for improvements and how to analyze the …

Digital Collection Strategies: The Key to Better Business Operations

Digital Collection Strategies: The Key to Better Business Operations

The events of the last year had a huge impact on the accounts receivable industry. The pandemic disrupted business operations and transformed debt collection security and compliance procedures. Standards that have been in place for a decade or more were no longer viable and agencies were forced to adopt digital collection practices almost overnight. What is Digital Collections? Agencies have …

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 …