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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.

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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.

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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.

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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.

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

Using Tax Refunds to Pay off Debt

Posted by Emily Herrington on Jan 26, 2021 9:08:37 AM

Many Americans will receive a tax return this year. While some may be tempted to put a down payment on a new car or renovate a kitchen or bathroom, they really should use that money to pay down their debt. Tax time is the best time for businesses to utilize an experienced collection agency to turn their bad debt into bottom-line revenue.

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Topics: Collection Strategy, old debt, debt collections, new practice, collection agency, tax refund, get out of debt, how to get out of debt

The Battle of the Bill: The Psychology of Unpaid Debt & Denial

Posted by Emily Herrington on Nov 2, 2020 12:22:37 PM

It’s an unopened bill, an ignored phone call, a deleted voicemail. Sticking those bills in a drawer or straight into the trashcan doesn’t make the debt go away; in fact, doing so could actually be making you and your family sick.

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Topics: Insider, old debt, debt collections, get out of debt, how to get out of debt, unpaid debt, being debt free

How Will Debt Settlement Affect My Credit?

Posted by Joey Nichols on May 19, 2020 9:45:00 AM

Your credit score is important, and if you’re like many Americans, you may be faced with unpaid debts now or in the near future as a result of COVID-19.

Unpaid debt doesn’t require much of an explanation: it’s simply a debt that has not yet been paid.  We previously discussed the dangers of unpaid debt and how it affects your credit, but what about your other options like debt settlement? Below, we will explore what debt settlement is, and how it can affect your credit score in the long-run. 

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Topics: Collection Strategy, Credit, old debt, debt collections, get out of debt, how to get out of debt, unpaid debt, being debt free, debt settlement

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