Debt collection is similar to tug of war. Here you are at one end, straining your every fiber to pull those dollars closer to you. Meanwhile, the debtor is at the other end, striving to ensure the money doesn’t end up in your hands. It’s a task that’s full of challenges, frustration, and at times, looks like it’s a waste of time. But do not fret, because there are strategies that can be used to ev... »
Collectors Have All The Fun As a Collection Manager you are constantly juggling your responsibilities, making sure that you are meeting your goals, but also making sure that your staff is happy. CMs can do this by using contests for collectors, or implementing a generous bonus structure to keep the hard workers motivated. Something that happens a lot is the way the rest of the company feels about ... »
Happy Monday everyone! We decided to start this week off with a post that is true to any good negotiator’s heart, the problem with leaving money ON THE TABLE! Before we dive into the post, take a half of a minute to watch the below video. This is something that is a perfect visual display of collectors’ reactions when they find themselves leaving money on the table. Don’t let thi... »
DBA International 18th Annual Conference: Passport to the Future Well, as you all know, we’re really big on education for industry professionals. I mean, it’s in our company values for crying out loud. So it’s only natural that we let you know about a conference that’s coming up this February. It includes a whole lot of educating and networking opportunities. If you aren... »
Why Consumers Should Thank Debt Collectors Yep, we said it. It’s not written incorrectly, but popular to contrary belief, debt collectors actually help consumers. And not just the consumers they speak to on the phones, but ALL consumers. What debt collectors and debt collection companies do, adds tremendous value to our United States’ economy. And that’s exactly why consumers sho... »
“What’s my goal this month?” is a common question you’ll hear from collectors. But then again, it depends on where they work and how their managers put their goal together. Setting effective goals for your collectors is one of, if not the most important piece of developing an effective collection strategy. Goals are the standard, the benchmark, the target. If you don’t have a good method for creat... »
One of our favorite sites for good business definitions, Investopedia.com, defines “Brand Awareness” as; “The likelihood that consumers recognize the existence and availability of a company’s product or service. Creating brand awareness is one of the key steps in promoting a product.” We want to talk to you about a different kind of brand awareness, because in the deb... »
Getting a promotion at work is a great accomplishment, anyone who has been entrusted with more responsibility and pushed further up the ranks of a company where they can truly make a difference to the organization, should be very proud. However, it’s important to know the immediate side effects of your new role. It’s not always easy to celebrate a promotion when maybe you weren’t the only one in t... »
The CLOSEOUT Myth “I let all my bills go into collections because I prefer to pay them on the last day of the month.” ~ said NO ONE, EVER! Here’s the deal, in the collections industry there is one day that is always known as the best day in collections for almost every collector in the business; the last day of the month. This isn’t something we’re going to back up with ye... »
Have you ever sat in a staff meeting or a training session discussing a new policy that was written for the collectors because of a new lawsuit under the FDCPA (Fair Debt Collection Practices Act)? I mean, you can’t blame your managers and your clients for wanting you to be prepared for every situation. Every time a debtor logs online, they get one of these in their face: Good Old Gray, FDCP... »
September 10, 2014
The debt collection industry, as almost everyone knows, doesn’t get the best coverage in the media. Here at Connection2Collections.com, we want to show support for the industry professionals and help them be confident and responsible in their work. […]
