Skip tracing may sound like a spy technique out of a James Bond movie, but it actually has several practical daily applications for business. Anyone from lawyers to debt collectors, investigators to educational institutions may employ skip tracing to zero in on an individual's current whereabouts or track someone's activities. Lawyers s...
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It's hard to believe that The Fair Debt Collection Practices Act ("FDCPA") has been around since 1978. And it's even harder to believe that so many people still don't know what the Act does and doesn't permit and what it does and doesn't prohibit. Misconceptions abound, not the least of which is that the Act requires a collector to inve...
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Debt collection is a very dynamic, complex field and requires a disciplined approach. A collection manager’s primary responsibility is to prevent unnecessary losses while controlling costs and providing good customer service. Nowadays, a rising set back collectors are facing when attempting to collect on accounts that have defaulted is ...
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Exploring different options when trying to collect from a bankrupt debtor.
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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...
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