Are you prepared for the forthcoming tsunami of delinquencies?

LET TSI & CONVERGENT HELP YOU MANAGE THE EBBS AND FLOWS OF CONSUMER PAYMENTS Slow and non-paying accounts have been noticeably low in recent years due to corporate policies and regulations set during the pandemic, as well as an injection of income from government stimulus payments. With the stimulus and corporate leniency ending, companies are […]

Why Compliance is Critical to Effective Debt Collection

The crucial role compliance plays in effective debt collection and management cannot be ignored. This critical component impacts how debt collection is controlled and managed. Here are some key components for organizations to consider when dealing with debt collection. Compliance is Critical As regulatory complexity and cyber-security concerns continue to increase, organizations will likely need industry-leading […]

The Debt Collection Letter 101

When you send the debt collection letter is just as important as what you say. One of the most powerful tools to use in debt collection services is the debt collection letter. This technique is also one of the most regulated in the industry, along with phone calls to the past due client. While establishing […]

6 Little-Known Facts about Debt Collection Compliance

Debt collection is one of the most heavily regulated activities you will ever undertake. The debt collection industry is one of the most heavily regulated in the United States. That is precisely why it’s risky to undertake debt collections on your own; there are rules for when and how past due clients can be contacted, […]

Three Debt Collection Agency Myths

The facts show third-party debt collections provide a needed service for businesses of any size. How much do you really know about collection agencies and how they work? Unless you’ve partnered with a debt collection agency, there’s a good chance that you’ve been misled about how the debt collection process works and the impact it […]

New Challenges in Hospital Self-Pay Collections

Hospitals and medical practice providers are facing a brave new world where the realities of high-deductible insurance or no insurance at all have yielded a higher group of self-pay patients. How can hospitals stay on top of accounts receivable management with a burgeoning population of people that are sick – but cannot pay? Debt collections […]

Security Risks and Your Healthcare Organization: Driving Patient Satisfaction

Keeping data safe is one way a collection agency can protect the relationship between you and your patient. Federal law requires healthcare organizations to safeguard personal health information (PHI). As we discussed in our previous article around ransomware and insider threats, healthcare organizations may often struggle to keep data safe, and increasingly fall victim to […]

Collections for Financial Institutions/Banks and Credit Unions

Banks are required to keep data safe. What happens when that trust is breached? Banking has always been about trust. Financial institutions are tasked with managing the assets of their stakeholders; those clients put their trust in the bank to handle their cash or investments. However, it can be a delicate situation when an account […]

2018 Debt Collection in the U.S. – Technology Changes Everything

Debt collection agencies must leverage technology to become more successful in improving consumer communications. In the Consumer Financial Protection Bureau’s June 2017 report, statistics showed that American consumers are vocal in their complaints about collection efforts. Debt collection complaints make up nearly one-half of the more than 1.2 million consumer complaints the agency receives every year. […]

The True Cost of Compliance

Debt collectors are required to follow strict compliance guidelines.  It’s not surprising that top-level executives are very guarded when it comes to debt recovery. Whether they handle their collections in-house or outsource, any compliance violation can cost them – both financially, and their reputations. The Consumer Financial Protection Bureau (CFPB) is the entity tasked with […]

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