Post Tagged with: "debt collection"

3 Best Practices for Training Debt Collectors

3 Best Practices for Training Debt Collectors

Best Practices, Compliance, Guides, HR, Management, Payments August 21, 2017 at 1:00 pm

Auto loan delinquency rates are at the highest level since the 2007 financial crisis, which is why auto lenders are investing more time in debt collection best practices. As such, refining and bolstering training for debt collectors has become increasingly important. Auto Finance News spoke with a few experts inRead More

8 Tips for Improving Collection Practices

8 Tips for Improving Collection Practices

Best Practices, Guides, Management, Operations, Payments August 16, 2017 at 12:18 pm

Delinquencies continue to climb to levels unseen since the financial crisis, which is why many lenders are focused on improving collections practices and bolstering their loss mitigation strategies. Auto Finance News spoke with four collections experts to pinpoint best practices and optimal strategies for mitigating losses and improving collections. HereRead More

It’s Time to Integrate Collections and Recovery Systems, FICO Says

It’s Time to Integrate Collections and Recovery Systems, FICO Says

Management, Operations July 21, 2017 at 11:50 am

Nowadays, managing a collection system and a recovery system separately proves difficult, according to a webinar hosted by FICO yesterday. Keeping two systems has become harder to defend when a single system lowers labor costs and is more efficient, FICO said. There are many similarities between collection and recovery systems,Read More

How the Supreme Court Turned Debt Collection Into a Grammar Lesson

How the Supreme Court Turned Debt Collection Into a Grammar Lesson

Compliance, Operations, Opinion July 10, 2017 at 10:30 am

On June 12, the Supreme Court settled a question about the status of debt buyers under the Fair Debt Collection Practices Act (FDCPA) that has been the subject of uncertainty for years: β€œIs a person who purchases debt for his own account a debt collector if he tries to collectRead More