Collection Industry News

When seeking to hire the most intelligent employee for a position, it’s important to consider a combination of factors beyond just intelligence. Here are some strategies to help you identify and hire highly intelligent individuals: 1. Clearly Define Job Requirements:…

Risk mitigation strategies in debt collection are measures and practices implemented by collection agencies or creditors to minimize potential risks associated with debt collection activities. These strategies aim to protect the interests of the organization, ensure compliance with regulations, and…

Here are some recommended steps to follow: 1. Gather information: Start by gathering as much information as possible about the international debtor. This may include their contact details, business information, financial records, and any documentation related to the debt or…

Here is a recommended method for collecting an overdue balance: 1. Send a polite reminder: Start by sending a friendly and professional reminder to the client, stating that their payment is overdue. Include specific details about the outstanding balance, the…

Here are some common ways defendants may choose to challenge a lien on their bank account: 1. Procedural errors: Defendants may scrutinize the procedures followed by the party seeking the lien. They can challenge the legality of the process, such…

Americans have a record amount of credit card debt right now — close to $990 billion, according to recent Fed data. It makes sense that people borrowed more in recent months, with prices going up at a quick clip and wages growing less briskly. But now with…