Posts Tagged ‘collection agency software’

The First Thing You Should Do If A Bill Collector Calls

In: Reference & Education

7 Aug 2010

When it comes to the subject of debt collecting, there are a lot of misconceptions and misinformation. Here are some tools of the trade that you can use if a debt collector ever calls you. When the collection agent calls, the first thing you want to do is figure out if this is a third party collection agent or an in house collection agent. Third party collection agents are hired by creditors on contingency, while in house collectors are the creditors.

Advanta Credit Card Scam

In: Finance

18 Jul 2010

I sit at my desk completely frustrated with Advanta. I opened up a business credit card with them 3 years ago and made a purchase of $6500 to help build my business credit for Rapid Recovery Solution, my Collection Agency. I have paid more then the minimum every month, on time. Three months ago I noticed that my interest rate seemed a little high. No where on my statement did it say the actual interest rate so I called the company. After 10 min or so I get a live rep on the line and they tell me it is 36.1%. Are they kidding, this must be a mistake. I have over a 750 score and never missed a payment. They said they sent me a notice in Aug that they are doing this due to a change in there lending methods. It turns out this is the second time this year they did this. I went from 8.99% in Jan 08 to 18.99 in Feb 08 to 36.1% in Aug 08.

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.

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.

Collection Industry On The Brink Of Change

In: Business

15 Apr 2010

The collections industry has grown massively in the last couple of years. The reason for this is that collections and recoveries are mostly outsourced business functions. It would be impossible for a creditor to handle retrieving debt from all of their accounts, so the creditors call the collections agencies.

Collection Industry Is Going After Young Adults

In: Finance

12 Apr 2010

The most current analysis of the American economy shows that incomes are decreasing for those just begining. The Collections Industry has reason to believe that this paradigm shift will be permanent.

All About Bankruptcy Court

In: Business

5 Mar 2010

Basically, bankruptcy cases can be voluntary or involuntary. The overwhelming majority of cases will be voluntary. In these, debtors (the people who owe money) petition the bankruptcy court. With involuntary bankruptcy creditors (the people who you money to) file the petition in bankruptcy. Involuntary petitions are usually rare and are sometimes utilized in business settings in order to force a company into bankruptcy so the creditors can enforce their rights.


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