Legal Recovery - Why You Are Paying Too Much and Losing Money
For the past couple decades, I have worked in banking, software, health, and government. In each of these areas, I have dealt with many aspects of legal recovery, and the...
Vendor Management
Why Q4 is the Time to Evaluate Your Collection Partners
It’s hard to believe that the year is already winding down, but consumer debt certainly isn’t. And not having the right collection partner today can equate to missed recovery opportunities...
Evaluating Your Collections Strategy? Here are Three Things You Need to Know.
It’s official: now’s the time to evaluate your accounts receivable processes, according to Kim Isaacs at JP Morgan Chase. Even lenders who had a robust accounts receivable process pre-pandemic must...
Three Things You Must Know about Using a Third-Party Debt Collection Strategy
Finding a good third-party agency partner is tedious and time consuming. But as delinquencies rise and the volume becomes too much to manage in-house, working with an agency partner could be...
The CFPB Is Unconstitutional? What the Recent Fifth Circuit Ruling Actually Means
The Fifth Circuit said the CFPB is unconstitutional! Wait. Hang on a second. The Fifth Circuit Court of Appeals did not say the Bureau itself is unconstitutional, but rather ruled...
3 Steps to Preserve Customer Loyalty through a Delinquency Cycle
It’s at least 5x more expensive to acquire a new customer than to retain an existing customer. As the layoffs mount in the tech and fintech sector and public financial institutions...
A Guide to Building a Robust Vendor Management Program in Collection
For a lot of lenders, especially newer fintechs, who have spent the last two years originating loans and lines of credit, the obvious collections strategy solution to the challenge of...
What You Need to Know about the Hunstein Dismissal (and Your Vendors)
The third-party collections industry celebrated on Friday, September 8, 2022 when the Eleventh Circuit dismissed Hunstein vs. Preferred Collection & Mgmt. Servs, Inc., a controversial case which threatened to stop...
Gen Z, Trust, and the "Frictionless" Engagement Strategy of the Future
Consumers are changing. Gen Z's share of debt is growing and their engagement preferences matter more and more. Your debt collection strategy needs to follow suit. In this ranging interview...
How to Terminate a Collections and Recovery Vendor Relationship Safely and Efficiently
Collections and loss mitigation vendor management is not easy. Finding and onboarding a new tech vendor or collection agency partner is tough work, so of course, collections & recovery vendor...