Posts Tagged ‘collection agency services’

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How To Recover From A Bankruptcy

In: Finance

5 Jun 2010

Bankruptcies can hang on your credit report for up to 10 years and can butcher your credit score by hundreds of points. But by using these tactics, you could improve your credit score and become creditworthy several years before the bankruptcy drops off your credit report.

Three Sure Fire Ways To Get Paid On A Past Due Account.

In: Business

5 Jun 2010

No matter what you do to try and weed out potential deadbeat customers, sooner or later one or more accounts will become past due. When you find yourself with a past due account on your hands, the worst thing you can do is ignore the problem. The more time that passes between the payment due date and the time that the customer is contacted, the less likely you are to receive the full payment. After 6 months, you statistically collect just 50% of the amount due and after a year that amount drops to only 25% of the original debt. If you are serious about turning a profit, there are three ways to handle the collection on past due accounts; in house efforts, hiring a collection agency, or taking legal action.

Today In The Collections Industry

In: Business

5 Jun 2010

The collections industry has grown quite large in the past couple of years. The reason for this is that collections and recoveries are typically outsourced business functions. It would be unthinkable for a creditor to try to handle retrieving debt from all of their accounts, so the creditors call upon the collections agencies.

What Is The Deal With Debt Collection Companies Pt. 2

In: Reference & Education

1 Jun 2010

Depending on how the person who owes money reacts to the demand will have a large effect on what additional notices (if any) the collections company will pick from its library. Voluntary resolution (e.g. making payment arrangements and/or partial payments) might result in letters with a gentler tone. Deceptive or belligerent reactions from the debtor might result in a more threatening tone.

Cali Collection Company Attempts To Get Healthy And Fit

In: Business

16 May 2010

A collection agency based in California produced a plot to motivate and educate employees to live healthier lifestyles in early January. There are twenty eight employees at the agency; more than half are currently participating in the initiative.

Collection Agencies Explore Alternative Tactics

In: Finance

17 Apr 2010

The Collections industry’s tactics may be taking a turn for the….better? In light of a number of recent lawsuits against debt collection agencies, ACA International, the largest trade group of professional creditors and collectors, says more and more collection companies are working towards training collectors to take a more empathetic position.

Bleak News As Bankruptcy Increases While Employment Rate Plummets

In: Business

17 Apr 2010

Layoffs and pay cuts pushed more people into bankruptcy last year, and analysts say that the situation will most likely not improve until the unemployment issue improves. In Wisconsin, bankruptcy filings raised to 30 percent in 2009. This came on top of a 35 percent increase in the preceding year.

Debt Collection And The Statute Of Limitations

In: Finance

17 Apr 2010

Most people are becoming increaslingly aware that they owe a debt that is being pursued by a debt collections agency, yet few know exactly how much time has passed before creditors can go after that debt. Debt Collectors are guided by what is called the Statute of Limitations.

Scams On The Increase – Jury Duty Scam Emerges

In: Business

15 Apr 2010

According to the FBI, jury scams have existed for years. What happens is that someone will call you, telling you that you have missed jury duty, and then asks for personal information to stop you from getting arrested. But if you give the conman what he wants, you could lose your identity.

Detroit To Call On Debt Collectors

In: Business

15 Apr 2010

The city of Detroit has spent almost $50 million since 2004 tearing down deserted buildings. Getting rid of the eyesores has been beneficial, but feeble collection efforts have left taxpayers footing the bill.


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