Compliance and Risk Management is the Secret to a Successful Debt Collection Agency

Compliance and Risk Management is the Secret to a Successful Debt Collection Agency

Share this Article Some companies think that revenue is the most important, and compliance is a cost. “Actually, if your compliance program is working, it should be saving you money,” says Laura Knights, Gulf Coast Collection Bureau. She recently discussed the important role compliance management plays in collection in a webinar on the future of compliance management.  Gaining new business …

How To Use Recurring Billing For Your Business

How To Use Recurring Billing for Your Business

Share this Article One-time payments to your company are necessary to accept from consumers, but for many businesses – especially those that run on accounts receivable – you need a recurring billing option within your payment software too.  Recurring billing is the practice of charging a customer in installments rather than in a lump sum. These payment schedules can be …

10 Examples of Great Debt Collection Websites

10 Examples of Great Debt Collection Websites

Share this Article In the debt collection industry, if you haven’t updated your website to meet today’s consumer expectations, you’re probably already losing revenue. Within the next few years, however, a user-friendly debt collection website will become a necessity if you want to stay competitive. The proposed new rule the Consumer Financial Protection Bureau (CFPB) released this spring attempted to …

California Consumer Privacy Act Overview

California Consumer Privacy Act Overview

Share this Article Social media, websites and countless apps have expanded our worlds and made our lives easier. Now, consumers are starting to see the potential downsides to technological convenience. The Cambridge Analytica scandal and countless data breaches have made consumers – and lawmakers – weary. In 2018, the European Union (EU) led the way in data protection rules with …

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. …

PDCflow Submits Debt Collection NPR Comments

PDCflow Submits Debt Collection NPR Comments

Share this Article In May, the Consumer Financial Protection Bureau (CFPB) released its Notice of Proposed Rulemaking (NPR) for debt collection. The extensive document covered the use of text and email in debt collection, among other long-awaited topics. As part of finalizing the rule, the CFPB requested public comments in order to better understand possible ramifications of the rule and …

What Businesses Ought To Know About Credit Card Tokenization

What Businesses Ought to Know About Credit Card Tokenization

Share this Article Data breaches are becoming a big problem. In fact, there have been so many that Identity Force decided to keep a running list of all breaches reported so far in 2019. The length of the list is staggering. What can businesses learn about security from all these breaches? Credit card tokenization, encryption and other measures must be …

How To Build a Website for Your Debt Collection Agency to Reach Every Audience

How To Build a Website for Your Debt Collection Agency to Reach Every Audience

Share this Article By now, every legitimate business should have a working website. Debt collection agencies are no exception. The objectives your debt collection website should achieve, however, are unique. Debt collection agencies have three main purposes: help consumers resolve their debts, attract new clients to grow your business and to hire new staff members. The challenge is understanding how …