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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

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

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.

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

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

'100 Years of Collections', A White Paper

Posted by Emily Herrington on Jul 27, 2020 10:12:00 AM

Did you know that 61% of consumers have been negatively impacted by COVID-19? The greatest increase in bad debt began in March 2020, and as a result, the largest phase of third-party collections is estimated to begin in October of 2020, extending well into 2021. 

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

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

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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