Welcome to Debt Collection Guide
Debt Collection Agencies Article
. For a permanent link or to bookmark this article for further reading, click here.
The Basics of Debt Collection Software
Debt collection software is a program that helps companies track debts. This software is designed to keep track of payments, fines, penalties and other matters concerning the accounts of debtors.
Benefits of debt collection software
First of all, debt collection software will help you get organized. Instead of having piles and piles of paperwork in the office, debt collection software can consolidate all the information in one place. At the same time, debt collection software can be easily updated. Once the debtor pays a certain amount, it can be easily recorded by the software. This way, you can keep better track of the activities in each account. You will have all the necessary information, including the date and time that the payment was made and the amount that was paid.
Secondly, debt collection software is a great way to keep track of your correspondence with your debtor. Debt collection software has features that allow you to record the exact day and time the collection letters were sent. In some cases, debt collection software can record portions of phone calls. If ever the case goes to court, you can use the debt collection software to show evidence that you tried to maintain correspondence with the debtor.
Lastly, using debt collection software is much cheaper than hiring people or agencies to track accounts for you. For smaller businesses, hiring an external agency or person to do organization and collection of debts will be too costly. Debt collection is a much cheaper alternative.
Features of debt collection software
When purchasing debt collection software, there are a few features that you should look for:
An accounting feature – When debt collection software has an accounting feature, it will be able to account for all payment activities that are made for each account. This way, even if the debtor insists on smaller but more frequent payments, you can still keep track of each payment.
Auto dialing – You should get debt collection software that can be hooked up to the telephone for auto-dialing. With just a single click, the computer can instantly dial the debtor’s home phone number or cellular phone. You will no longer waste time to locate contact details of the debtors.
Letter Templates – Choose debt collection software that has templates for debt collection letters. This way, you don’t have to spend too much time drafting letters. By simply plugging in the information of the client onto the template, you will be able to print the letter in minutes.
However, remember that the software should also serve your company’s needs. The software you use should help make debt collection easier. It should help you monitor the accounts. In the event that the debtor disputes the debt, you can easily use the debt collection software to verify the nature of the debt.
Debt Collection Agencies Specific links
Debt Collection Agencies News
Hospital Debt Collection A Symptom Of A Sick Health Care System - Huffington Post
Hospital Debt Collection A Symptom Of A Sick Health Care System Huffington Post Fairview Ridges Hospital is owned by Fairview Health Services, a nonprofit Minnesota chain that, until recently, contracted with Chicago-based Accretive Health, a company that manages billing and debt-collection for hospitals. |
OFT criticises Wonga debt collection practices - The Guardian
 Finance Markets | OFT criticises Wonga debt collection practices The Guardian Payday loan company Wonga has been told by the Office of Fair Trading (OFT) it must improve its debt collection practices, after it emerged it had sent letters to customers accusing them of committing fraud. The OFT said it had seen letters sent out to ... Wonga debt collection methods criticised by OFT Wonga warned by OFT over "aggressive" debt collection Wonga warned by OFT over debt collection |
Bankruptcy claim survives against former Erie debt collector - GoErie.com
Bankruptcy claim survives against former Erie debt collector GoErie.com By ED PALATTELLA, Erie Times-News As he attempts to pay off his debts through bankruptcy, the former president of a now-defunct Erie debt-collection agency still must face challenges from the state Attorney General's Office. |
ACA of Texas Receives Certificate of Excellence - EON: Enhanced Online News (press release)
ACA of Texas Receives Certificate of Excellence EON: Enhanced Online News (press release) “I am honored that our Texas Chapter was recognized for its commitment to excellence because our objective is to set the standard for our member agencies to follow. In the collections industry, it is essential that we operate to the highest level of ... |
Credit Bullies: A Collection Agency Damages the Credit of Southern ... - NBC Los Angeles
Credit Bullies: A Collection Agency Damages the Credit of Southern ... NBC Los Angeles A major collection agency damaged the credit of Southern Californians who say the company was trying to collect on phony medical bills, according to an NBC4 I-Team investigation. Fidelity Creditor Service of Glendale has been trying to collect from ... |