Collections

Collections Face A New Reality

In the classic movie "The Wizard of Oz," Dorothy steps out of her house after experiencing a tremendous storm and says, "Toto, I've got a feeling we're not in Kansas anymore."  The same revelation applies to the collection industry, which has been weathering severe social and economic conditions.  As your...

BUMP Collection Performance

Collectors, and their interaction with the consumers, are the lifeblood of our business. Learn how to BUMP Collection results by a focus on the four fundamental components of a successful collection call. Building relationships with the customer begins the process. Communication and active listening skills are paramount for completely understanding... https://www.linkedin.com/pulse/bump-collection-performance-judy-hammond/

Omni-Channel Collections is here! Are you ready?

The majority of collection organizations, from a lender to an outsourced collections firm, are pursuing digital channel interaction and engagement capabilities to expand their consumer communication options. Driving this move is the decline in the effectiveness of traditional communication channels (letters and telephony), and the rising success of digital channel...

Debt Settlement Mini-Survey Preliminary Results Released

Resource Management Services has released preliminary survey results from their Debt Settlement Mini-Survey. The survey consisted up 9 questions, and was responded to by 77 people, representing creditors (48.68%), Debt Settlement Companies (22.37%), Industry Participant Companies, not Debt Settlement (14.47%), Agency/Attorney (22.37%), and Others (6.58%). (It was not directed at... https://new.debtconnection.com/collections/debt-settlement-mini-survey-preliminary-results-released

Some Things Have Changed… In Collection and Recovery

Some Things Have Changed… In Collection and RecoveryPart 1 – Vendor ManagementSome Things Have Changed. So, why haven’t technology advances made us smarter in our vendor management? That brings us back to the old discussion of whether collection and third party vendor management is an art or a science. The Net Back Discussion... https://www.linkedin.com/pulse/some-things-have-changed-collection-recovery-judy-hammond/

Improving Collections With A Smarter Platform

“Smart” software applications are rapidly expanding throughout the credit industry, and collections is one area that can greatly benefit from it. Reason being, there is an enormous amount of inefficiency and ineffectiveness that still prevails in collection operations today. They come in the form of manual collection activities, judgmentally driven...