Thriving in Third Party: An Interview With Lex Patterson

Thriving in Third Party Interview with Lex Patterson

Share this Article Our Thriving in Third Party interview series has highlighted all types of debt collection professionals, including attorneys, educators and agency owners. Today, we’re speaking to someone from a different corner of the ARM industry – Lex Patterson, President of collection software DAKCS Software Systems, Inc.  President at DAKCS Software Systems, Inc. Read about the changes he has …

How To Use Social Media in Accounts Receivable

How To Use Social Media In Accounts Receivable

Share this Article By now, social media has become part of almost everyone’s daily life. Even for businesses, it’s expected to have a presence on at least one platform. However, using social media is tricky for those in Accounts Receivable. Does your agency know how to use social media? Do you understand why it’s so important? When you are not …

What the Lavallee Case Teaches Debt Collectors About Using Email Communications

What the Lavallee Case Teaches Debt Collectors About Using Email Communications

Share this Article Whether or not you are in the collection space, the recent decision in Lavallee v. Med-1 Solutions should catch the attention of everyone in Accounts Receivable. If you haven’t already read about the case, Joann Needleman, Practice Leader and Member of Clark Hill PLC, recently discussed What Lavallee means for the CFPB’s proposed rule and Electronic Communications. …

Safe Harbors for Email and Text Messages Under the NPR

Safe Harbors for Email and Text Messages under the NPR

Share this Article The CFPB Notice of Proposed Rulemaking (NPR) has been covered extensively in articles and webinars over the past few months. The prospect of using text and email messages is exciting for an industry that has been all but left out of using the latest technology.  The question is, how will you use digital communication safely?  Here are …

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 …