Monthly Archives: October 2009

WebRecon to Scrub Every Collection Database Industry-Wide for Free

They’re giving it all away, for free!  Can you afford not to take advantage of this during this tough economy? In an effort to combat the exploding number of FDCPA lawsuits plaguing American collection agencies, law firms and debt buyers, … Continue reading

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Posted in Complaints, Credit Crisis, Debt Collection in the News, Economic Crisis, Fair Debt Collection Practices Act, FAQ's, Heard on the Street..., Legislation, Recession | Tagged , , , , , | Leave a comment

Can I collect on "old" debts?

Dear Michelle, Can a Creditor (fortune 500 corporation) after 5 years notify a debtor (small corporation) that a substantial sum was just discovered in their books as unpaid.  On what grounds can the small corporation refute this claim. Sharon Dear … Continue reading

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Posted in Ask Michelle, Collections for Creditors, Compliance, FAQ's, Getting Paid - Michelle Dunn - Business Finance Columni | Tagged , , | Leave a comment

Leaving messages on an answering machine

Michelle, Is it against the law to leave a message on a persons answering machine, at the home phone number that the customer gave you if you know from previous conversations that they live there?  I have a customer that … Continue reading

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Posted in Ask Michelle, Reposession | Tagged , , , | 1 Comment

Lawsuits Citing FDCPA Jump 50% In September

On October 14, 2009, Collections&Credit Risk ran a story called Lawsuits Citing FDCPA Jump 50% In September. They stated that a total of 732 lawsuits citing Fair Debt Collection Practices Act (FDCPA) violations were filed in September, a 50% jump … Continue reading

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Posted in Debt Collection in the News, Fair Debt Collection Practices Act, Laws | Leave a comment

Top Online Collection Methods

I recently took a poll of the top methods collectors use as debt collection tools.  The top 2 answers were: Accepting debtors payments online Staying away from using the internet until the laws are changed Another important point brought to … Continue reading

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Posted in Heard on the Street..., Laws, Online Collection Techniques, Online payment options, Skip Tracing, Social Networks | Leave a comment

Common Mistakes when Using Social Networks to Collect Debts

When you use a social networking site to locate a debtor, to then try to collect from them by phone, or mail, there normally won’t be a problem.  The problems arise when someone contacts a debtor through one of these … Continue reading

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Posted in FAQ's, Online Collection Techniques, Skip Tracing, Social Networks | Leave a comment

How the FTC feels about Online Debt Collections

The FDCPA does not cover online technology in reference to debt collection.  We are hopeful that as the FDCPA is updated and changes are made that online collection techniques and technology will be specifically addressed. I would like to bring … Continue reading

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Posted in Compliance, Fair Debt Collection Practices Act, Laws, Legislation, Online Collection Techniques, Online payment options, Social Networks, Text messages | Leave a comment

Online Debt Collection Risks

Many new collectors or people new to debt collection don’t realize the implications of third party disclosure and how it affects the industry, the collectors and the consumers in the long run. On March 31, 2009, Ryan Singel wrote a … Continue reading

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Posted in Complaints, Court Judgments, Debt Collection in the News, Heard on the Street..., Online Collection Techniques, Social Networks | Leave a comment

How to use Social Networks to aid in Debt Collection

Utilize social networking sites to locate or find a debtor; get a mailing address or employment information in order to enforce any in-house collections.  With a place of employment a creditor can better evaluate someone’s ability to pay and if … Continue reading

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Posted in Collection Tools, Compliance, Fair Debt Collection Practices Act, Laws, Online Collection Techniques, Social Networks, The Life of a Bill Collector | Leave a comment

Top 8 Do's of Online debt collection

E-learning Skip tracing or locating debtors Accepting debtor payments Researching collection tools, such as software or skip tracing tools Credit reporting Use database technology to maintain account information on customers that owe you money Access consumer payments only with authorization … Continue reading

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Posted in FAQ's | Leave a comment