A new study by The Kaplan Group shows that the debt burden has reached an all-time high for American households. We analyzed the evolution of auto loans, mortgages, credit card and student loans since 2003. Key Takeaways All-time high Auto loans, mortgages, and student loans are at an all-time high since 2003. Although the total … Read more
A new study by Kaplan shows that the average monthly search for “debt relief” on Google has grown by 49% in the past year, highlighting a national concern about managing financial obligations. This study identifies the states facing the most significant challenges and those with a potentially healthier financial landscape. Key Takeaways Search Interest for … Read more
It’s always exciting to land a new client, but when that client does not pay you and the debt adds up, excitement turns into anxiety and disappointment. It may be time to consider hiring a commercial collection agency. We all know managing a business and the cash flow process is a financial pain point. We’ve … Read more
When it comes to collecting commercial debt, getting mad almost never leads to getting even. But the concern extends well beyond your bottom line. How to be 30% less effective in collecting business debt It’s simple. Just allow yourself to get absolutely furious about the situation, and BOOM. Your ability to recollect your money drops … Read more
Yes, it’s true. Debt collectors can now contact consumers on social media. Here’s the background and all you need to know about what debt collectors can and can’t do on social media. The History In November 2021, The CFPB made some long-awaited updates to the Fair Debt Collection Practices Act. The FDCPA was enacted by … Read more
In today’s business climate, managing cash flow efficiently is more important than ever. One aspect that can dramatically affect a company’s financial health is how effectively it manages debt collection. Outsourcing this critical function to a debt collection agency can offer numerous advantages that go beyond simply recovering outstanding debts. Enhanced Recovery Rates Debt collection … Read more
