Lawsuits Against Agencies, Creditors Up Through January
An estimated 440 different collection agencies and creditors were sued between Jan. 16-31, a slight increase from 426 sued in the first half of the month, according to data from U.S. District Courts.
The statement above, from Collections & Credit Risk, is strong evidence as to why debt collectors need to follow rules and guidelines to avoid, or at least reduce the likelihood, of being sued under collection laws like the Fair Debt Collection Practices Act. Having knowlege of the correct things to say and useful forms to use makes all the difference when it comes to training and motivating collectors.
That is why I wrote the two books linked at the very end of this string of blogs...Credit and Collections Kit for Dummies and, specific to my state: Handling the Collection Case in Michigan: A Creditor's Guide. Both books contain specific check lists, scripts, forms and tons of other useful material derived from my 35 years in this business.
The statement above, from Collections & Credit Risk, is strong evidence as to why debt collectors need to follow rules and guidelines to avoid, or at least reduce the likelihood, of being sued under collection laws like the Fair Debt Collection Practices Act. Having knowlege of the correct things to say and useful forms to use makes all the difference when it comes to training and motivating collectors.
That is why I wrote the two books linked at the very end of this string of blogs...Credit and Collections Kit for Dummies and, specific to my state: Handling the Collection Case in Michigan: A Creditor's Guide. Both books contain specific check lists, scripts, forms and tons of other useful material derived from my 35 years in this business.
1 comment:
Collection of debts needs flexibility and professionalism.There has to be a nice blend of debt recovery services, processes, procedures, & time-check in order to amass the outstanding.in America, the list of collection Agencies is getting enriched day by day.And one should contrast his view in accordance with fair Debt Collection Praactice Act, otherwsie there's no point in finding a good recovery agency.
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