FREE WEBINAR: New Guidance From The CFPB on Credit Reporting. Sign up now to hear from compliance experts John Bedard, Nicole Strickler, and Lexi Knight talk about important changes in how collection agencies should navigate the tricky road of credit reporting. The webinar will take place Thursday, May 25 at 1pm EDT and is sponsored by The Bedard Law Group.
The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.
COLLECTION AGENCY EMPLOYEE BEING HAILED AS ‘HERO’ FOR SOUNDING ALARM IN $19M FRAUD CASE
- Vicky Callahan, an employee of Kings Credit Services, is being hailed as a “hero” for pulling at a thread that ultimately unraveled a $19 million check fraud scheme involving a California school district. Callahan noticed that two separate individuals were using the same bank account number to make payments. She alerted the school district, which led to the fraud being uncovered.
OREGON TAKING STEPS TO IMPROVE DEBT COLLECTION RECOVERY RATES
- The state of Oregon has $3.3 billion in unpaid debts and are taking action to collect it. All state agencies are to begin sending those unpaid accounts to the state’s Department of Revenue, which will hopefully speed up the process. Currently, each of the state’s 130 different agencies do their own collections. More than 75% of those agencies only have one person in charge of collections.
WHY WE LIE
- Collection agents deal with a lot of people who lie. People who cover up why they are not able to make their payments or who are too embarrassed to tell the truth. Understanding why people lie is a soft skill that can help collection agents be more empathetic, help them better grasp the nature of psychology, and teach them to be better collectors. National Geographic has a cover story this month on why people lie. It’s definitely worth the read.
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The Daily Digest is sponsored by T-Max Dialer & Communications, the leader in hosted inbound and outbound dialer technology.
