In lieu of hiring a collection agency, some companies believe they can successfully recover debt on their own. Launching an in-house collections department can be a costly matter and expend a great amount of resources. Businesses need to budget for the physical infrastructure of adding a collections department such as leasing a separate space, implementing…
The questions in this series were formulated after considering the inherent challenges of hiring a collection agency as well as the related Google Search terms, insights into requests for proposals (RFPs), and finally, the pros and cons of existing articles on the subject. As mentioned in part one, time is of the essence in debt…
Petaluma, Calif. (April 19, 2019) — National debt collection agency Optio Solutions is participating in Collectors Challenge month for the fourth consecutive year. Organized by the ACA International Education Foundation, the April fundraiser supports educational enrichment for employees and family members in the credit and collections industry via the Loomer-Mortenson Scholarship Program. The foundation helps…
In this second article about Collection and Recovery Solutions (CRS) 2019, the spotlight shines on a special keynote address and several networking opportunities for senior-level credits (see part one). The CRS conference takes place May 8 – 10 in Las Vegas with participants from more than 175 companies and organizations. Credit unions, asset management companies,…
Many companies procrastinate hiring a collection agency because they simply don’t know what they don’t know about the credit and collections industry. Consequently, businesses often struggle to formulate a list of specific questions before hiring a collection agency. This uncertainly may lead to delay — a major factor in poor debt recovery — and consequently,…