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 delinquent accounts can stir up negative emotions. Retraining yourself and staff to replace negative language or neutral phrases with positive language can have a big impact on your debt collection calls. To optimize your consumer interactions through positive communication, first focus on tone, intentional language, and breaking negative habits that impact calls.Intentional Positive Language and TonePeople …

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 Seila 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

At 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 talk about …

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 …

Debt Collection Call Tips: Quality Over Quantity

Debt Collection Call Tips: Quality Over Quantity

Consumers are becoming harder than ever to reach. Call blocking, call screening, and consumer preference for text, email, and other digital communication methods make right-party contact on a collection call more difficult. Many debt collection industry professionals have recognized this trend. Instead of speeding through debt collector calls to increase the number of contacts made each day, many are advocating …

How to Use Email and Text in Your Debt Collection Strategy

How to Use Email and Text in Your Debt Collection Strategy

Traditional communication methods like telephone calls and paper correspondence are becoming less popular with consumers. As new digital communication methods emerge, consumers expect companies to keep up with tech trends by offering communication methods they most prefer. Unfortunately, heavily regulated industries like debt collection have been slow to respond to this trend, fearing lawsuits due to non-compliance. During a PDCflow …

Education and Motivation for your Debt Collection Team

Education and Motivation for Your Debt Collection Team

Share this ArticleThis is a summary of a select few presentations at Collector Live 2020. A full recording of the event which includes many additional speakers is available for purchase at Collector.live.  Another Collector Live show has come and gone. This one-day virtual conference offered information to help personnel from every level of your debt collection team to improve and …

Payment Negotiation Tips for Past Due Accounts

Payment Negotiation Tips for Past Due Accounts

It’s never a bad time to learn new debt negotiation tips or refresh yourself – and your team – on the best practices for negotiating payments on past-due accounts. Accountsrecovery.net hosted a webinar with three credit and collections experts to discuss payment negotiation tips for accounts receivable teams:Beth ConklinAccount Executive State Collection Service, Inc.Mike HillerVice President of Collections American Profit …