Category: Collections
Three Things to Know Before Publishing an RFP for Debt Collection Services
If you’re in charge of purchasing for your organization, then you’re no stranger to drafting RFPs. You might even have a tried-and-true RFP template that’s been blessed by your legal department and used for purchasing everything from construction projects to food service. But as you know, every industry has its own considerations. And unless your
Choosing a collection agency should be like hiring an employee
When you’re choosing a collection agency to take on your accounts receivable, sometimes the hardest part is finding the right fit. In some ways, it’s kind of like hiring a new employee for your team because they will be working on your behalf. What should this new employee be doing? Send letters Many don’t realize that
Get Ready to Make a Collection Phone Call
It’s okay to admit it: You really hate making those collection phone calls when a customer hasn’t paid. The fact is, few of us are accustomed to talking about money. You know if the conversation isn’t handled right, you could make a bad situation worse and lose that customer forever. At the same time, the
Plan for Collections as a Last Resort
Most customers and clients do the right thing and offer payment for the goods and services they’ve received. Unfortunately, there are always some who put you off or fail to pay altogether. If your accounts receivables are getting too high, perhaps it’s time for a hard look at your financial system, and even plan for collections work on your
Collection Fees: 9 Tips for Dealing with Collection Fees Safely
Collection fees can help offices offset the costs related to delinquent payments, but offices should take great care before applying them. On the one hand, these fees offset the tremendous cost of collecting payment from consumers with outstanding debt. On the other, the fees can run afoul of state regulators, judges, attorneys and others. When
The Importance of Self-Improvement at Any Level
Feedback is information or reactions to a product or a person’s performance of a task. It’s used as a basis for improvement. So why is it so hard to receive it? The sole purpose is to produce improvement. First, I think we need to stop viewing feedback as positive or negative. Feedback is simply feedback.
4 things to know before adopting a virtual assistant
As artificial intelligence improves and makes inroads, it’s not a surprise to see some products enter the accounts receivables market. In fact, some companies are selling virtual assistants. We don’t mean robots or artificial intelligences; we mean a system that offers a highly sophisticated option for consumers to make online payments. Such systems can be
Why a debt collection partner is a valuable asset
How can a third-party debt collector such as IC System be a valuable partner for your business? These are five of the benefits. Extra motivation: For some consumers, it may be easy to push off paying a bill. Perhaps they don’t fully understand the bill. Or perhaps you’re simply on the receiving end of their
Does your collection partner follow federal laws?
If you are concerned about collection laws and how your third-party collection partner reflects on you, it is not without reason. That’s because in 2015, a few of these companies were out of bounds: 895,158 consumers logged complaints to the Federal Trade Commission against third-party debt collectors, according to the agency’s Consumer Sentinel Network report. They were accused
Is Your Agency Putting You At Risk for TCPA Claims?
Do you have a landline? If so, you are part of a growing minority. Results from a study last year by the National Health Interview Survey suggest that more than half of all U.S. households have canceled their landlines and now use just their cell phones. The percentage is even higher among twentysomething adults, and
