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How to Collect Post-COVID

Posted by Joey Nichols on Jun 30, 2020 8:00:00 AM

From self-isolation to job loss, and most importantly, the tragic loss of family members and friends, COVID-19 has affected every individual in some way; not one person is exempt from the perils of this economic and physical state of emergency. With new restrictions hitting the headlines daily regarding debt collection, and the historical negative perception of debt collectors, many regulators called for a stop in collections activity. However, this may actually cause more stress for people impacted by financial difficulties caused by COVID-19. 

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Topics: Collection Strategy, COVID-19, Technology, old debt, debt collections, collection agency, accounts receivable, outsourcing, revenue

The Different Phases of Debt Collections

Posted by Joey Nichols on Jun 8, 2020 8:15:00 AM

Though we may not like it, debt is often a necessary part of life, meaning there's absolutely no shame in borrowing from time-to-time. Unfortunately, many people find themselves in these financial situations simply because they do not know how to handle the collection process. When this happens, debt just continues to pile up, leading to negative outcomes.

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Topics: Insider, Collection Strategy, Technology, debt collections, collection agency, accounts receivable, revenue, recovery rate

Technological Needs in Debt Collections

Posted by Joey Nichols on May 25, 2020 8:15:00 AM

Advancements in technology have left a massive impact on the business world, and this is no different for the collection industry. Technology has made it easier for collectors to stay up-to-date by tracking the status of unresolved accounts, contact debtors, and, collect payments. No matter what your business goals are—to collect, gather insights, gather questions answered, or all of the above–odds are that technology has streamlined the process including remote agents, chatbots, and online bill pay.

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Topics: Collection Strategy, Compliance, Technology, debt collections, collection agency, recovery rate

How to Collect Debt Between Generations

Posted by Joey Nichols on Mar 25, 2020 2:57:48 PM

When it comes to debt collecting, it’s incredibly important to have a clear understanding of the people from whom you are attempting to collect. Everyone has a unique set of personal values and experiences which makes it important for agencies to locate methods that works for everyone. While this can be one of the most difficult tasks of collecting, it can be made easier by examining the differences between generations: Baby Boomers, Generation X, Millennials and Generation Z.

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Topics: Collection Strategy, Technology, debt collections, collection agency, unpaid debt, revenue

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