A successful debt collector can sometimes be the difference between success and failure in business. And hiring the best debt collection specialists can help your business in its goal of getting paid for goods and services provided. It is rarely so simple as a client or customer simply not wanting to pay. There could be…
While we are increasingly attached to our screens, one would be tempted to think it is easier than ever to contact someone. That of course is not necessarily the case as spam calls, texts and emails are pervasive as ever across our phones and tablets, leaving many to simply ignore calls and messages from an…
Unlike the tracers used to track motion in the military, medicine or science, debt collection skip tracing involves searching for consumers or business owners who have gone missing. These individuals may be evasive debtors or those who have inadvertently dropped off the grid for a variety of reasons. The U.S. Postal Service, for example, estimates that nearly 30% of “undeliverable” mail is sent to people who have not left a forwarding address after moving to a new residence.
Having “the right feet on the street” is critical to any venture, but especially when it involves launching a tax season collection strategy. In this case, the feet translate to having a qualified collection agency design and implement a plan for the upcoming tax season. Ideally, agencies will launch a strategy in time for the…
Auditing third party collection agencies is standard procedure among corporate clients in today’s business world. The reason for conducting audits is simple. Clients want to confirm that agencies are protecting their interest with compliant practices and efficient collection efforts that result in a favorable return on investment, brand protection, and customer retention. Auditing third party…
“Be Prepared” has been the motto of the Boy Scouts of America ever since the youth organization was founded in 1910. It should also be the motto of any tax season collection strategy. To a scout, the motto translates to being ready and equipped for any life situation. To a third party collection agency, “be…
For the second consecutive year, college-bound children of employees at Optio Solutions and affiliate CrossCheck were awarded scholarships from the ACA International Education Foundation (ACAEF). Trevor Arco (Texas) finished in second place while Nicholas Siembieda (Calif.) was among the fourth-place winners. The recognitions were part of the foundation’s Loomer-Mortenson Scholarship, an annual program that recognizes…
There is only one season that really matters to the debt collection industry — the tax season that runs from late January to mid-April. Hence the need for planning a tax season collection strategy. There are others types of seasons, however, including those recognized by people living in a variety of places around the world.
Individuals from tropical regions often refer to the dry season and rainy season; most of the world follows the astronomical seasons (spring, summer, autumn and winter) of the Gregorian calendar; and numerous cultures recognize six seasons that roughly translate to early spring, spring, high summer, late summer, autumn and winter in western countries, or spring, summer, monsoon, autumn, early winter and late winter in south Asia.
Third party collection agencies maintain clean desk policies to protect the confidential, personal or sensitive information belonging to agency clients and consumers. A component of compliance management systems (CMS), clean desk policies work in concert with secure controls over networks, file transfer protocols, data storage, backup systems, employee training programs, authorized access to buildings and…
Auto lenders received some sobering news in May 2019 regarding the repayment of auto loan debt. The euphoria created by the recent record highs in newly originated auto loans and the average price per vehicle was tempered by the announcement that delinquencies continue to increase for some borrowers. Specifically, serious delinquencies (90 days or longer)…