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Posts Tagged ‘collections call model’

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The CFPB Regulation F Requirements Take Effect in Less Than 60 Days – What’s Your Plan?

In less than 60 days, the CFPB Regulation F requirements take effect. In simple terms, it means collectors can: Make seven call attempts within a seven-day period Make one call within a week of speaking with the “right party.” Strategies must be altered, and creating sequencing that supports your delinquency goals and loss forecast can […]

Credit Providers Can Benefit From Newer Practices, Even in the Face of Uncertainty

“It takes time for loans to go bad and the full extent of problems to surface, so I’d predict this is likely to be a 2023 issue.” That’s what Michael Jamesson, a principal at the bank consulting firm Jamesson Associates, told American Banker when asked about the long-term impact Covid-19 economic relief might have on […]

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Bank, Credit Unions, and Other Credit Providers Must Get Ready To Prevent Loan Losses

The last 18 months surprised the collections industry as it relates to forecasting future losses for respective loan portfolios. Many banks, credit unions, and credit providers were left asking themselves, “when do we expect this to turn?” In speaking with many industry leaders in the collection space during the pandemic, they stated it was a […]

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5 Powerful Statements for Your Debt Collections Call Model

When was the last time you revisited the debt collections call model your agents follow? Is it suitable for customers who are late today – versus years ago? Customer contacts made via phone calls must become more than an ask for payment and the total amount due. Here are 5 powerful statements that must be […]