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Collection Industry News

Why it’s important for collection agencies to share what they do

There is a lot of important work done by reputable and professional debt collectors daily in this country. This work helps the overall economy, consumers that may be struggling with ongoing debt, and small businesses struggling to meet payroll and other expenses.

The debt collection industry helps larger organizations keep costs down and keeps the workforce employed.

The debt collection industry touches just about everyone. Regardless of whether we know it or not.

For many years, many in this industry flew under the radar and just did their jobs. With the media and others having an unfavorable perception of the debt collection industry, it’s no wonder.

However, debt collections serve a vital role in our economy. Those of us […]

2022-11-23T08:53:51-05:00November 23rd, 2022|Categories: Advice for Businesses, Advice for Consumers, Collection Industry News|

4 consumer myths about debt collections DEBUNKED

To say there is endless misinformation about debt collections in the media and on the Internet would be a vast understatement.

Right up front, you should know that the debt collection industry provides critical and necessary support to not only consumers and the business community but the overall economy.

Just about everyone who works in the debt collection industry fully understands that it can be an uncomfortable situation as a consumer being sent to collections. And one other thing we know. No consumer wants to be in debt and struggling to pay their bills. Consumers do not want to have their accounts sent to a collection agency.

However, it is important to point out that over the years, […]

2022-11-27T13:02:15-05:00November 2nd, 2022|Categories: Advice for Businesses, Advice for Consumers, Collection Industry News|

Debt collections in 2022-important factors to be aware of

Improving your cash flow and understanding how debt collections fit into your business should be an important part of how you operate in 2022. If you continue to struggle with customers not paying you and you feel you have an ongoing need for debt collections, you’ll want to consider how collection activity around your accounts receivable process will fit into the coming year.

This past year has seen numerous changes for businesses. From a change in customer behavior, the way we work as a result of the pandemic as well as fluid changes in regulations posed on businesses, it’s always a good idea to stay up to date on how to keep cash flow positive, […]

2021-12-21T13:04:13-05:00December 21st, 2021|Categories: Advice for Businesses, Collection Industry News|

We are “all in” when advocating for the collection industry

Since the founding of American Profit Recovery and the day we opened our doors, we have always wanted to do what was right. That includes how we can work in the best interest of the clients that hire us, the consumers that are struggling with their finances, and the overall health and effectiveness of the collection industry.

We have always wanted to do our part.

The best collection agencies not only help clients that are struggling with cash flow and late payments, but they also advocate for what is right.

We were recently recognized by ACA International-the Association of Credit and Collection Professionals and presented with the ACA All in Award. This award is presented to agencies that […]

2021-08-11T10:49:08-04:00August 11th, 2021|Categories: Collection Industry News|

6 things they don’t tell you about debt collectors

Do you know the truth about debt collectors?

Do you feel you know what a collector does?

Oftentimes we find that many people are unaware of certain facts about the collection industry and are even surprised when they learn more about the industry and the people that represent that industry. But don’t worry, we are here to tell you some of the things you may not be aware of when it comes to the collection industry.

Collectors and consumers can have cordial and productive discussions

In many cases a conversation between a debt collector and the consumer is respectful and at the same time productive. Debt collections has changed over the years. If you’ve seen nightly news shows over […]

2021-07-23T11:32:03-04:00July 9th, 2021|Categories: Collection Industry News|

Cyber-fare

Up 50% since 2015, nearly 52 percent of the world’s population (3.8 billion individuals) are now online. That’s great progress and opens up a whole host of opportunities for everyone online to experience the many benefits of being online.

But as you well know, there are still many security issues that go along with using the internet. We have in this country gotten used to online banking and shopping, and some even post things to social media that can give hackers an edge. And many of us don’t even know it. That along with passwords that should not be passwords, and we have opened ourselves up […]

2020-11-01T12:25:35-05:00August 9th, 2018|Categories: Advice for Businesses, Advice for Consumers, Collection Industry News|

Number One Call Center in the Industry

We did it! We earned the number one spot on the 2018 Best Call Centers to Work For. We always knew American Profit Recovery was the best collection agency to start and build a career in the credit and collections industry, and now we have proof. We are clearly one of the best places to work in this industry and I might add, anywhere.

And before you move on and say to yourself, “big deal, they won another award” take a moment to listen why this is an important event.Best collection agencies to work for

There are a number of industries that over time, have a long […]

2021-01-04T10:01:15-05:00June 8th, 2018|Categories: Collection Industry News, Team APR, What APR is up to|

Collection Agencies Save The Average Household 479 Per Year

A recent survey by Ernst & Young and ACA International on the health of national and state economies in the U.S. shows that they continue to rely on the recovery of rightfully owed consumer debt.

This is where third-party debt collectors come into the picture, they are key in the recovery of debts and assisting the economy on the state and national levels.

Some of the key findings about third-party debt collectors from the survey are about job creation, outstanding debt and giving back.

When it came to job creation, the collection agencies directly employed more than 136,000 people, with a payroll of $6.4 billion.

With outstanding debt, third-party debt collectors received approximately 1 billion consumer accounts from creditor […]

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