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In House Collections Versus Using 3rd Party Collections Agency

clock December 20, 2010 11:44 by author Kyle Duncan
During any economic cycle, a certain amount of bad debt is just part of doing business, but in the current economic climate, lending has become more challenging.  If you are a creditor and you are struggling to recover money on bad loans, you may be asking yourself "should I try to recover on the loan using my in-house staff or should I work w... [More]

Mistaken Identities in Debt Collection Industry

clock September 24, 2010 11:04 by author Kyle Duncan
The debt collection industry in the US has grown from small local businesses to large companies with nationwide reach. As the industry has, it has become more regulated with the implementation of the Fair Debt Collection Practices Act of 1977. The FDCPA imposes certain rules and guidelines for debt collection and violations of the Act are enforced ... [More]

Buying Old Debts

clock July 30, 2010 09:16 by author Kyle Duncan
In recent years, some aggressive debt buyers and investors that buy multimillion-dollar debt portfolios that have been charged off by credit-card companies and other lenders for cents on the dollar with a plan to collect enough debts to turn a profit and have been actively pursuing debts that are barred by the statute of limitations. Their int... [More]

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