In a country of debt-juggling practiced by the millions, determining what bills consumers pay first can have a profound effect on lending and debt collection practices. What types of debt are they willing to let fall into delinquency in order to pay for essentials? Many consumers are in situations where they must choose between two or…
Optio Solutions recently released the guide “How to Find the Best Debt Collection Agency.” This comprehensive guide is designed for business leaders who are considering hiring a collection agency, looking to add on additional agencies, and those who are currently in the process of selecting an agency. This evaluation tool provides in-depth information and strategies…
“Consumer confidence hit a 17-year high in late 2017 and holiday sales jumped nearly 5% vs. 2016, the largest year-over-year increase since 2011,” Experian stated in its 2017 State of Credit survey, that included the retail industry. The eighth annual survey provides insights about retail credit card use among U.S. consumers. Taking a closer look…
A successful debt collection agency is powered by skilled, knowledgeable leaders. Management is responsible for maintaining smooth day-to-day operations that significantly impact clients’ return on investment (ROI), brand image, and customer retention and satisfaction rates. The performance of these crucial tasks are predicated on utilizing a number of important operational, technological and analytical tools that…
In 2016, a debt collection agency report by ACA International stated that nearly $67.6 billion was returned to creditors. For companies with delinquent consumer accounts, choosing one or more high performing agencies can play a crucial role in businesses success. Business owners seeking to add an agency can evaluate each company by nine key components…
ACA International invites credit and collection professionals, clinicians, and industry executives located around the world to earn or renew professional designations at the ACA International Spring Forum & Expo. Held March 14 – 16 at the M Resort Hotel in Las Vegas, the forum offers credentialing, attorney professional development, industry insights, networking opportunities and more.…
The eighth annual HIMSS Revenue Cycle Solutions Summit will assist healthcare financial professionals in optimizing the revenue cycle at healthcare organizations through educational seminars lead by world-class speakers, special networking events and an exhibit hall staged with the latest health IT technologies. According to the Healthcare Information and Management Systems Society (HIMSS), “Revenue cycle performance…
If you’re reading this article, then there is a good chance your company is already working with one debt collection agency or more. Furthermore, you already know which contractors excel in specific areas and which ones are simply treading water. Selecting a new collection agency entails a thorough review of essential focus areas. The good…
Establishing and maintaining a favorable brand image is crucial to most companies. A single disgruntled customer who vents their frustration via social media or an internal oversight can significantly harm a firm’s reputation. Businesses performing internal debt collections without industry knowledge or failing to properly train their employees risk compliance violations, employee burnout, decreased profits…
The nuances of debt collection laws remain dynamic. Best-in-class collection agencies and businesses conducting accounts receivable management are regulated by federal laws such as the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA) and the Fair Debt Collection Practices Act (FDCPA). While the majority of state laws mirror the FDCPA, states such…