Debt collection is a complex industry, and those within it should be equipped with the best information possible. If debt collection is gone about in the wrong way, or without proper knowledge, then several unwanted consequences can come with it.
The industry has changed in several ways over the decades, with laws about ethical debt collection changing rapidly. There is a lot that can come back to haunt a debt collector and those that hire them if they make a mistake.
Therefore, debt collectors, and those seeking to engage debt collectors, should be as informed as they can be. The following will list the 5 best debt collection agency information websites.
The 5 best debt collection agency information websites are:
- Nexa Collections Blog – one of the best debt recovery solutions site
- insideARM Blog – fresh news daily
- FICO Blog – Trends That Raise Questions for Debt Collectors
- Kaplan Collection Agency Blog – advice & news for credit professionals
- Business – community of experts
Nexa Collections has been able to assist a wide array of businesses, and other entities (banks, medical professionals, etc.) collect on debts on past accounts that are due. While they are not themselves a collection agency, Nexa helps connect entities with reputable debt recovery agencies based on their relevant professional experience, overall performance, location of debtors & requirements of the creditor. They connect entities with the appropriate debt collection provider at no extra cost.
The Nexa Collections website serves as a digital space where knowledge can be shared regarding the debt collection process. It allows visitors to find out valuable information that enables them to get the best value out of the debt collector they engage and avoid common pitfalls.
Their blog covers several topics on debt collection. This includes how to write a credit policy, how to take legal action regarding unpaid bills, and how to file a dispute to fix errors with a credit score report.
Their founder has nearly two decades of experience working in the debt collection industry, and this depth of experience informs everything posted to the website. There are few sources of information on debt collection as valuable as Nexa. They focus primarily on medical, commercial and small business collections.
Since 2000, the website insideARM is one of the leading resources for Accounts Receivable Management (debt recovery) professionals. These professionals span a range of creditors, law firms, debt buyers, technology service providers, investors, regulators and all manner of parties with interest.
They have one of the ARM industries’ most essential e-newsletters which covers trends and perspectives on regulation and compliance in the debt recovery industry. They also have many webinars, guides, and reports designed to give valuable insight that professionals can act on regarding all aspects of the industry.
insideARM is produced by the iA institute, which is a specialist in providing insightful information that can be utilised by professionals navigating the complexity of the debt collection industry. Having grown from only publishing a humble newsletter, the firm has grown to be a significant influence in the industry.
The Fair Isaac Corporation (FICO) is one of the top software analytics companies that used large amounts of customer data to predict behaviour with the help of advanced algorithms. This technology is no doubt leveraged by debt collection programmers, and it is often used as a resource by debt recovery agents.
The FICO blog is an extensive repository of daily updated content covering the areas of customer development, decision management, fraud protection and compliance, as well as debt collection and recovery. The blog covers a range of topics on debt collection that can prove useful reading for both debt collection agencies and entities that want to engage debt recovery services for themselves.
Kaplan Group Collection Agency Blog
TKG (The Kaplan Group) exists as a specialised debt recovery provider that focuses on B2B accounts receivable management. They have an impressive track record (85% collection success) that informs the expertise present when browsing their blog. The blog is an excellent platform to find out authoritative insights on debt collection.
The blog covers an extensive range of relevant topics and looks deep into many of the ongoing and developing paradigms in the debt recovery industry. It’s safe to say that debt recovery professionals can learn a lot from this blog, as well as those thinking about engaging this industry to assist them with ARM.
Credit Management Company (CMC) Collection Excellence Blog
While their name is long, they have a long list of useful articles to make checking them out worthwhile. The company was founded back in 1966 in Pennsylvania and has been focused on helping businesses save both their time and their money by executing impressively fast debt collection strategies. This company has been successful in debt collection over the decades, despite the many legislative changes the industry has gone through during that time.
With this in mind, the CMC Collection Excellence Blog is a great resource for insights on the latest trends and critical strategic recommendations. They are certainly a good platform for anyone in the debt recovery industry to keep an eye on.