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Overdue Advice is the podcast about cash flow strategies to grow your business. Each episode covers an aspect of credit management and accounts receivable. "Legal Collections (and How to Avoid Going to Court)," "Debt Doesn't Die: Estate Collections," and "How Professional Collectors Recover More," are just a few areas covered with rare industry insights. There's no show like it! Host Bryn Griffiths talks with guests including published authors, veteran collectors, accounts receivable trainer ...
 
Moss & Barnett, John Rossman, and Mike Poncin are pleased to present the audio blog series, The Debt Collection Drill. John and Mike provide sage tips and ongoing intelligence for debt professionals. In the blog archive, you can review detailed tactics on emerging issues in the credit industry and their analysis and solutions to the challenges the collection industry faces daily. John and Mike invite your readership and comments.
 
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show series
 
Disputing a bill is not terribly uncommon, and in some cases makes sense. Billing errors can happen, and it’s fair to have them resolved before paying. But imagine claiming you don’t need to pay ANY bills—or even your rent—ever, because you have special status or philosophical separation from your “debtor self” that renders financial obligations nu…
 
Regulation F contemplates debt collectors communicating with consumers using a scripted “limited content” voicemail message which contains the business name of the debt collector, but “does not indicate that the debt collector is in the debt collection business.” While consumer advocates agree that this limited content message will be extremely ben…
 
Consumer debt collection is delicate business at the best of times. Throw in a global pandemic where people’s livelihoods are in doubt, and it becomes exponentially harder. For telecommunications companies, the question becomes more than ever how to help customers, who need their phones and the Internet to work and function, but many of whom are st…
 
A debt collector must verify the identity of a communication recipient to ensure a right-party contact while also avoiding a disclosure about the existence of the debt to a third-party. Thus, a debt collector must, when asked, provide meaningful information about the purpose of a telephone call to a third-party – even when the third-party refuses t…
 
What we need is a deep breath to reset how we think about our businesses. Enter Dominic Rubio - a professional business coach, entrepreneur, host of his own podcast called The Profit Toolbelt. While this episode isn’t specifically about credit and debt recovery, we wanted to hear what Dominic Rubino has to say about planning for the future because …
 
Individuals, businesses, industries, and governments have struggled to cope with the pandemic. Understanding what’s happening, why, what the risks and dangers are, and what to do about it affects everyone. It’s glib to say, “things are mess,” or “they’re going to be different.” Of course they’re a mess and they’re going to be different, but how? Ou…
 
There’s no need to guess why it’s been months since we recorded a podcast. When the pandemic lockdown happened in March, everyone was scrambling. Well, almost everyone. Businesses without interruption, continuity, or disaster plans, scrambled to make them up as they went along, as if things aren’t hard enough. The fact that people’s incomes were lo…
 
If your customers are consumers, this episode is going to be of special interest. We’re going to pull back the curtain and have a frank discussion with debt collection specialists about how they try to resolve people’s debt problems. Most consumer debts aren’t big - a reminder or call from a third-party collection agency like MetCredit is enough of…
 
Every episode of overdue advice is aimed at providing business leaders perspective on how and why debt collection can have a positive effect on your business’s cash flow and customer relationships. By the time some companies contact MetCredit, the pressure of receivables is extreme. MetCredit can usually start collecting within a few days. If it’s …
 
The financial services sector is built on trust. The clearer the contract, the more trust. In debt collection experience is the currency of trust. Debt collection is a people business after all. And MetCredit's people know their business. If you tour MetCredit's offices, you'll see long time service awards of 5, 10, 15 and over 20 years experience.…
 
When you think about debt collection, you think about a phone call. There was a time when that was more or less true. It's 2020 and the telecom industry has shifted. Cord cutting means landlines aren't as available as they used to be, and there's no phone book for mobile phones. Text messaging have shifted when and where collectors can reach people…
 
We live in the self-help era. From books to YouTube, you can learn about anything, or learn to do anything. Restoring an old radio, or calibrating a robot motor is one thing. How do you build a team? Soft skills are hard. Debt collectors get results, but almost entirely through soft skills. Debt collection is, mostly, one person communicating with …
 
Some industries are regulated more than others. The Financial sector is one of the most high regulated sectors in the Canadian economy. And within finance, debt collection is a unique - and often - ignored corner. But it’s a corner with a lot of legal obligations…so today, we’re talking about compliance. When a company is meeting all its legal obli…
 
If you're organized and attentive to your accounts receivable, collections can be an orderly process, but it's still stressful. The general impression is that collections has a negative impact on business relationships. In fact, professional debt collection can reset and improve relationships with clients. What happens when things go really off the…
 
Credit and debt collection is as much social engineering and art as it is about business and finance. The crux of debt collection is asking for the money, but it’s not like a sales job. Tim Paulsen is an Accounts Receivable expert focused on training collectors. He’s an author of several books including the Amazon 5-star rating for “Paid in Full” a…
 
George Preece is a veteran of credit and collections in Canada. He served as President of the Credit Institute of Canada, and he was also a founding member and first president of RMA, the Receivables Management Association of Canada. He joined MetCredit in January of 2019 and works with clients in Ontario, and across Canada. George was in Edmonton …
 
The CFPB’s proposed debt collection rules envision a much-needed update and modernization to many provisions in the Fair Debt Collection Practices Act. However, the CFPB’s proposed rules include a limit of the number of debt collection calls that may be made per week without regard to the REJECTION of call frequency limits by Congress. Because our …
 
After hours-long searching online, you'll find very little information about estate collections. What you will learn about estate collections - collecting from the deceased - is that it's a specialized branch of debt collection, virtually no one offers the service, and if you want to learn more, you pretty much have to talk to our guest, JoJo Stapl…
 
Debt is egalitarian. It doesn't discriminate. Credit card and line of credit debts can inflate until they're so large the debt crowds out the rest of your life. It's not uncommon to have a house, a car, and other assets, but max out credit to the point where the bank won't talk to you. Then what? Jayde Samarzija is a mortgage broker who specializes…
 
If you think soft skills were easy, try asking someone for a few thousand dollars they owe someone else. But businesses are moving away from having their own credit managers and collections departments. The loss of internal expertise comes at a price: more bad debt, and more collections. In this episode, Andreas Schwabe talks with Benjamin Scott, C…
 
Who is a debt collector? Looking at MetCredit's career videos, you'd think they only hire shy, reserved wall-flowers who are more comfortable being in the background. You might think the biggest asset for debt collectors is nerves of steel. But being a superhuman pillar of strength isn't what's most needed in debt collection. Maturity, emotional in…
 
George Preece started his career in 1964 as a loan manager with a bank. He would go on to manage loans and collections for some of Canada's most storied institutions. At the time, even banks had what can be described as "uneven" loans and collection policies. Fast Forward to this episode and George provides perspective on how the industry developed…
 
Debt collectors defending against hyper-technical FDCPA lawsuits by consumer attorneys commonly ask the same question: “How could the consumer possibly have been harmed by this supposed violation of the FDCPA?” The question is especially poignant when the purported FDCPA violation arises from a collection letter the consumer never read or from the …
 
It might come as a surprise that issues, solutions, products and services in the financial credit sector are constantly evolving. Every two years the Credit Institute of Canada invites its members to gather and learn about new trends in the industry. MetCredit's VP of Business Development, David Hopkyns, talks about the 2019 convention in Niagara F…
 
Jobs numbers are the best they've been in a generation, but investment is down. Voters across the country have sent multiple-term governments packing. Are we on the cusp of a turnaround, or waiting for the other economic shoe to drop? It's better to be proactive than reactive. If revenue is important to your business, then uncollected revenue is af…
 
In business the bottom line is literally the bottom line. When it comes to outstanding revenue, we’ve heard time and again from experienced debt collectors: do not wait. Time is the enemy. If you want to recover as much money as possible, you need to act as quickly as possible. But that’s really the question. Act? Sure! But what to do…where to turn…
 
People are hard-wired to find patterns. Whether it’s a picture, sound, or behavior, we look for patterns in everything. Businesses are good at detecting patterns in customer behavior. They’re not so good at predicting behavior - especially when it comes to who is going to default on a payment. Katrina Nilsen is a Collection Manager, and TsiTsi Chiw…
 
As most debt collectors know, sending any collection notice into Delaware, New Jersey or Pennsylvania (the States with Federal Courts in the Third Circuit) will likely result in an FDCPA class action lawsuit against the debt collector. Typically these lawsuits assert that the validation language used in the collection letter does not require the co…
 
Most people have never experienced a call from a debt collector, but opinions about the debt collection process are many and varied. What do you really know about debt collection and how it works? Debt collection is heavily regulated in Canada, but that doesn't mean anyone understands it. any better than patent law. Debt collection is a formal proc…
 
The popular image of debt collection is a bunch of snarling, angry, vindictive trolls who find joy in making life miserable. They follow you around with a money magnet, siphoning your hard-earned cash that you want to use for other things. But debtors have already used their money for other things, and can't afford the new things. Small and medium …
 
Ask three economists their opinion on an issue, and you might get four answers back. Is the economy up? Is it flat? Is it down? You have to act when you're facing an economic downturn. Episode 3 of Overdue Advice reveals the 5 things you can do to make a down economy more tolerable for your business.…
 
Running a business is demanding. We look for processes and habits that foster stability and routine. Habits are comfortable, but they're not always efficient or good business. With trade tariffs and barrier, political instability, and even climate can further complicate matters. As margins shrink, you need to find ways to do business better; smarte…
 
Episode 1 - Overdue Advice is the podcast about dealing with outstanding debt. In the first episode, host Andreas Schwabe talks with Brian Summerfelt, President and CEO of MetCredit, Canada's leader in ethical debt collection. Episode 1 covers a lot of ground, starting with what debt collection actually is, how it works, and how Brian wants MetCred…
 
Debt collectors face an historic onslaught of FDCPA cases in Pennsylvania (and to a lesser extent New Jersey), all of which allege that statutory language in collection letters which tracks the FDCPA somehow violates the law. The Courts in these cases take the position that a consumer must be apprised that a dispute must be in writing to be effecti…
 
Collectors frequently point to contradictory language among the FDCPA and other statutes as proof that standardized debt collection rules are needed in this industry. However, even in an industry where consumer attorneys frequently make "creative" arguments, it is rare to see a claim that the FDCPA itself contains contradictory language. In a numbe…
 
Debt collectors were given clarity regarding two thorny FDCPA issues recently by decisions issued from the Seventh Circuit Court of Appeals. In the case of Portalatin v. Blatt, the Court held that a consumer was entitled to a single recovery of an FDCPA statutory penalty rather than multiple recoveries for the same alleged violation from each Defen…
 
Consumers using scripts to bait debt collectors into FDCPA violations is certainly nothing new. InsideARM has been publishing articles about this issue for years: https://www.insidearm.com/news/00006606-five-signs-that-a-debtor-is-trying-to-ent/ While the practice of consumers baiting collectors into FDCPA violations is well-established, the specif…
 
Just a few years ago, many in the collection industry were wringing their hands in frustration: the Douglass decision on innocuous information appearing in the windows of envelopes spawned hundreds of class action lawsuits; claims regarding the tax implications of settlements, voicemail message content and call frequency were on the rise; and, laws…
 
Consumer attorneys subjected debt collectors to a barrage of FDCPA lawsuits, especially in New York and New Jersey, on collection letters in 2017. This trend will continue, and likely accelerate, in 2018. Debt collectors hoping for relief from the Courts on the latest consumer attorney claims regarding collection letters may get some clarity in the…
 
Debt collectors that accept recurring payments over the phone know that Federal laws – specifically Regulation E, the Electronic Funds Transfer Act and the E-Sign Act – provide guidelines for consent and disclosures. insideARM first featured an article on those issues in January 2013: https://www.insidearm.com/news/00003889-legal-headaches-of-check…
 
Collection letters are the bane of our industry. Letters are expensive to send and - despite what a certain television pundit claims - studies prove that few consumers actually read collection letters. The CFPB, the FCC and other regulators pay little more than lip service to the urgent requests from consumer advocates to allow collectors communica…
 
First party and early-out servicing provides an enhanced customer service experience and greater responsiveness for consumers. These qualities make first party and early-out servicing beneficial for creditors as well as consumers. However, as the prevalence of this type of servicing increases, consumer attorneys and regulators seek to find ways to …
 
You want to make money, so you need customers that will pay—but how do you know which customers those are? FreeCollectionsAdvice.com’s Number One Tip: Pre-Screen your customers! Did they pay their bills with their other suppliers? Check for a business license Check for judgments Have consistent policies and procedures for screening customers…
 
Wer'e always talking in our podcasts about how important it is to keep an accurate, complete records, and how important it is to understand the collection laws in your state--and the state you're collecting in. Today we're going to really give you some specific examples of what can happen when you don't do that. There are a ton of legal issues invo…
 
The use of “scripts” by consumers to bait telephone debt collectors into alleged FDCPA violations is a calculated strategy dating back more than 10 years. Typically a consumer obtains such a script from a consumer attorney or from a website. The consumer will then make an inbound call to a debt collector and read certain questions off of the script…
 
The issue of debt collectors assessing interest on accounts was contentious and extensively litigated over the past decade. Courts, regulators and consumer advocates are uniformly opposed to debt collectors assessing interest except in specific circumstances. The Second Circuit Court of Appeals decision in Avila in 2016 further placed a requirement…
 
Debt collection is clearly one of the most heavily regulated industries in the United States. Federal, State and local regulators place onerous, duplicative and often confusing requirements on companies seeking to collect debts. Further, when collection agencies comply with the myriad of laws, many face lawsuits from consumer attorneys claiming tha…
 
“Will the CFPB be shut down? Will the FDCPA be repealed? Can I start using my dialer again? Is the Foti decision going to get overturned? While the political pundits sort through last night’s election results, the question for our industry is how President-Elect Trump will work with the Senate and House to change the debt collection industry. Attor…
 
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