221 East Main Street, Morristown, TN 37816

info@accountresolutionteam.com

The New Normal: How REG F is Changing the Game

Posted by Emily Herrington on Sep 27, 2021 9:51:03 AM

Times are changing, and so must collection techniques. With the Consumer Financial Protection Bureau’s “Regulation F” becoming effective December 1st, partners must adapt and optimize their practices to ensure more efficient debt recovery.

Read More

Topics: Insider, Collection Strategy, Compliance, Technology, old debt, debt collections, collection agency, unpaid debt, Regulation F

The Dangers of Having Old Unpaid Debt

Posted by Emily Herrington on Apr 28, 2021 10:36:33 AM

Creating debt is incredibly easy. The ability to make purchases without realistically having the money to afford them has made a very slippery slope out of many peoples’ financial situation. Derogatory marks on credit are a serious issue and once you are on that slippery slope there are many obstacles involved that keep you on it, causing you to go further into a place of financial unrest. Knowing how being in debt can affect your life is important in both preventing future slip-ups and motivating you to take action on your current unpaid debt.

Read More

Topics: old debt, debt collections, collection agency, get out of debt, how to get out of debt, unpaid debt

What is Digital Debt Collections?

Posted by Emily Herrington on Apr 12, 2021 1:35:09 PM

For decades debt collection has relied on telephone calls and paper letters to contact and collect unpaid debts from consumers. In today’s reality, research has shown that consumers prefer to be contacted through new technology. Some methods used in digital debt collection include Email, SMS, Push Notifications, and Voicemail Drop. Some debt collection agencies may consider themselves “digital” when in actuality the only digital channel they employ is Email. While Email is a crucial collection strategy, combining it with other channels of digital debt collection creates a well-rounded multi-channel strategy.

Read More

Topics: old debt, debt collections, collection agency, get out of debt, how to get out of debt

How to Get Out of Debt

Posted by Emily Herrington on Apr 6, 2021 9:55:10 AM

The prospect of paying off your debt may be quite daunting. Between interest rates, minimum payments, and trying to budget, you are liable to get confused and overwhelmed. Becoming debt-free isn’t easy but it certainly is possible with the right plan that works for you.

Read More

Topics: Credit, old debt, debt collections, collection agency, get out of debt, how to get out of debt, student debt, unpaid debt, being debt free

Non-Financial Benefits of Being Debt Free.

Posted by Emily Herrington on Mar 23, 2021 10:33:20 AM

The psychological, physical, and relationship effects from debt are detrimental. Many Americans believe that having debt is a necessary factor of life. Whether you are going to college or buying a home, having what some may call “good debt” can assist you in going further in those goals. On the other hand, medical or credit card debt has an adverse effect on your income through interest charges that can cause a chain reaction of borrowing and more debt, all while not having the same potential advantages as a business or student loan. What you may not know is the ways debt can negatively affect your life and how being debt-free can benefit you in non-financial aspects.

Read More

Topics: Collection Strategy, old debt, debt collections, collection agency, get out of debt, being debt free

How Outsourcing Debt Collections Benefits Your Revenue

Posted by Emily Herrington on Mar 11, 2021 11:00:14 AM

Any business can face financial problems that work against the effort to maintain sufficient cash flow. One dilemma that can have a significantly negative impact on your company is issues in accounts receivable. When a service is provided and your customer does not pay, meeting your bottom line becomes difficult. It is a debt collection agency’s obligation to recover your earnings so that you can continue doing business.

Read More

Topics: Collection Strategy, Technology, old debt, debt collections, collection agency, accounts receivable, outsourcing

Why You Should Hire a Collection Agency in 2021

Posted by Emily Herrington on Mar 1, 2021 10:04:37 AM

Don’t expect anything to go “back to normal” post COVID, and what defines as “post” still remains to be seen. Some experts say that it may be 2022 before we can safely resume old activities in some semblance as they once were. The pandemic has left its mark, not only on our physical behaviors, but our financial ones as well. In these continuing uncertain times, debts rise, layoffs continue, and there is a consistent economic downturn for many businesses. Many entities are overwhelmed with the daily tasks associated with trying to make up for lost time during the shutdown and by trying to throw collection efforts into that mix only makes your employees less productive with other tasks.

Read More

Topics: Collection Strategy, COVID-19, Technology, old debt, debt collections, collection agency

The Mysterious Disappearing Client: Leaving Thousands on the Table

Posted by Emily Herrington on Feb 25, 2021 11:46:04 AM

When I was 14, I started my first job as a telemarketer for a photography company. That started decades of a career in sales and marketing. My longest stint was 20 years as the National Sales and Marketing Manager for a multi-billion-dollar manufacturing company, so you can imagine that the transition to understanding the mechanics of the debt collection industry was worlds away from what I was accustomed to. The difference is that I’m not selling products anymore, I’m selling a service. I am still learning this industry every day, but the thing that puzzles me most is the mysterious disappearing client. Let me explain.

Read More

Topics: Collection Strategy, old debt, debt collections, collection agency, unpaid debt, accounts receivable

Why 2021 Could be Your Best Year for Debt Collections

Posted by Emily Herrington on Feb 22, 2021 5:12:28 PM

Research has revealed the potential for a global crisis such as COVID-19 to lead to chaos in the realm of economy. The impact on your customers is evident in an increased level of delayed or defaulted payments, deficiency in liquid assets, and even the bankruptcy of their businesses. These challenges are part of what make debt collection unexcused from the major disruptions to the business sector. However, we have learned that there are many ways to minimize the likelihood of your business’s cash flow deteriorating as a result of COVID-19.

Read More

Topics: Collection Strategy, old debt, debt collections, collection agency

Debt Collections - Are You Doing It Wrong?

Posted by Emily Herrington on Feb 15, 2021 10:03:55 AM

Let’s talk about some of the most common responses we get when calling on new prospects. Now, before you give up on this topic from the very beginning, stick with me; it’ll be worth it. Then ask yourself this question about debt collections - are you doing it wrong?

Read More

Topics: Collection Strategy, old debt, debt collections, collection agency

Want more from Account Resolution?

Subscribe to our blog below to be the first to receive the latest news and updates.

New call-to-action

Blog Subscription

Recent Posts