A new study by The Kaplan Group, a commercial collection agency, reveals a significant shift in the U.S. debt collection industry, which has seen notable shifts from 2019 to 2024, marked by a surge in public interest. This report explores these trends, highlighting state-level variations and national patterns as revealed by recent industry and search … Read more
Student debt has become a significant financial burden, growing faster than any other form of debt for many individuals in the United States. A new study by The Kaplan Group aims to provide an overview of student debt across various states and majors, highlighting the top and bottom states in terms of average debt, the … 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
Clients often want to know about demand letters. They may consider having an attorney send a demand letter before turning it over to collections. Paying an attorney for an hour or two to write a letter is less expensive than a collection agency contingency fee. But, a letter itself may not actually get you paid. … Read more
Risk and Reward are the two sides of almost every business deal. What are you risking if the deal doesn’t go well? What will you gain if it does go well? Does the reward justify the risk? In collections, we often have to weigh risk and reward and make similar calculations. When trying to decide … Read more
We’ve talked before about the bad rap debt collectors get in movies and television. A lot of the misconceptions about debt collectors actually come from the behavior of debt buyers. If you are looking for new ways to pursue unpaid invoices, it’s important that you understand the difference between the debt buyers and debt collectors. … Read more
Cancelled events. From personal events like weddings to trade shows, Covid-19 has hit the event industry hard. Cancellations affect event organizers, professional entertainers, marketers and attendees. For some businesses, an annual trade show is where they make most of their sales. Being out the new sales and potentially the deposits on the show can hit … Read more
