These Collections articles will give you the news and information you need to stay up to date in the ever changing Collections industry.
September 20, 2012 – 992 views Collections Training Resource
It’s a great feeling when the judge awards you a judgment in your favor. You can finally begin collecting the money that’s owed you. However, in order to gain a better chance of getting your money, you should wait until after the other party has a chance to file an appeal. If you ask for your money during the appeals process, you’ll only appear greedy, and legally the other party doesn’t have to pay a cent while their appeal is in process.
Your first request for money should be a polite letter in writer that states how the law handles unpaid judgments. These judgments appear on the other parties’ credit.. Full Story
September 18, 2012 – 935 views Collections Training Resource
Though many people want to trust in the inherent morality of humanity, the fact of the matter is that many people do not take responsibility for personal debt, especially when it comes to real estate. This is why courts impose judgment liens on people who fail to make a mortgage or rent payment... Full Story
September 12, 2012 – 931 views Collections Training Resource
In bankruptcy cases, a creditor should file a proof of claim to ensure a debtor and the relevant estate will be responsible for all awarded payments. Here are the steps that collection professionals, attorneys and creditors must take to file a proof of claim form... Full Story
September 4, 2012 – 1,033 views Collections Training Resource
Large financial transactions are full of complex negotiations and intricate formulas, and it takes an industry expert to navigate these complicated fields. However, common forms of payment called letters of credit are much easier to understand.
If you are a collection professional or attorney looking to learn more about letters of credit, read on for some of the basic principles... Full Story
August 23, 2012 – 1,070 views Collections Training Resource
While the United States' official policy on crime is "innocent until proven guilty," the unfortunate truth is that many people purposely commit credit fraud and try to duck out of making payments. Collection professionals are hired to procure money from people and corporations who are far past due, but sometimes these customers have seemingly disappeared. What happens when one cannot locate a debtor? Full Story
August 16, 2012 – 1,545 views Collections Training Resource
Any collections professional should be well aware of the contents of the Fair Debt Collection Practices Act (FDCPA) to avoid violations that may lead to legal action. While the process of collections may be made more difficult when the FDCPA is taken into consideration, it is an essential component of collections that professionals must review. Full Story
August 6, 2012 – 1,305 views Michael L Todd
Probably the best way to get immediate feedback from a debtor is to call them on the phone. And one of the most important skills needed when doing this is to listen. If you apply these ten listening skills - and keep accurate notes of your calls - you'll be able to hear the little intakes of breath, the slightly longer than normal silences as the debtor struggles to give you a reasonable reply to a point raised. Full Story
July 11, 2012 – 1,192 views Collections Training Resource
Telephone collections can be challenging, as receiving calls requesting the immediate payment of delinquent bills is rarely a pleasant experience for clients. Full Story