Fairway Capital Recovery Blog

4 Things Your Collection Agency Should Never Do to Collect Debts

Posted by Matt Alkire on Tue, Mar 04, 2014

Despite the fact that there are many professional, responsible and above-board collection agencies operating in the U.S., there are a few that may not be so law-abiding and conscientious. Here are four major watch-outs to consider before partnering with any collection agency:

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Topics: collection agency, debt collection services, debt collection agency, collection agencies

Rent Collection: Agency Tips for Collecting Past Due Rent

Posted by Matt Alkire on Sun, Mar 02, 2014

Landlords and property managers deal with certain challenges as part of the reality of their jobs. One of those challenges is collecting past due rent. Whether you choose to collect past due rent yourself or hire a rent collection agency, you can maximize your collections with three simple tips:

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Topics: collection agency, debt collection services, collection agencies, rent collection agency

5 Ways Collection Agencies Are Good for America

Posted by Matt Alkire on Fri, Feb 14, 2014

There’s no point beating around the bush: debt collectors and collection agencies get a bad rap. While most collection agencies are compliant with federal and state consumer protection laws, unscrupulous collectors with questionable business practices have contributed to a negative image of all debt collectors.

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Topics: ARM, collection agencies, ARM industry, debt collection industry

3 Tips for Communicating with Your Collection Agency

Posted by Matt Alkire on Thu, Feb 13, 2014

As in any successful partnership, open communication is vital when working with a collection agency. Here are three simple tips for getting the most out of your collection agency through great communication:

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Topics: collection agency, outsourcing debt collection, debt collection agency, collections agency

Quarterly Update: Accounts Receivable Management Industry News [Part 2]

Posted by Matt Alkire on Wed, Feb 05, 2014

Whether you perform collections activity in-house or outsource to an agency, it’s important to be aware of the regulatory changes and trends in the accounts receivable management (ARM) industry. This industry is highly regulated, and the rules governing debt collection practices have seen many changes in recent years. Here are some updates of which you should be aware:

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Topics: collection agency, accounts receivable management, collection industry news, ARM

Four Secrets to Successful Dental and Medical Collections

Posted by Matt Alkire on Thu, Dec 19, 2013

Consumers approach medical and dental bills differently than other bills, such as utility bills or rent. In many cases, they might feel less urgency to pay. After all, if your choices were between being evicted, having your electricity shut off or not paying for last month’s teeth cleaning, which bill would be your lowest priority?

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Topics: collection agency, debt collection services, accounts receivable management, collection agency fees, medical collections

Why Your Collection Agency Should Be Licensed, Bonded & Insured

Posted by Matt Alkire on Wed, Nov 20, 2013

You may often hear collection agencies refer to themselves as “licensed, bonded and insured”—but what do those things really mean? In this article, we’ll take a closer look at each of these concepts and why they are important.

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Topics: collection agency, outsourcing debt collection, accounts receivable management, questions about collections agencies, Collection agency license

Talking Points for Good Collection Agency Calls

Posted by Matt Alkire on Wed, Oct 30, 2013

Great debt collectors remain professional and respectful at all times, which is no mean feat considering they are in an inherently uncomfortable situation—few people enjoy talking about their finances. Besides, many of the customers they are calling are experiencing feelings of shame, frustration, anger and other strong emotions.

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Topics: outsourcing debt collection, debt collection services, Debt collector, collection agency calls

How to Build a Case for Outsourcing Debt Collection in 5 Steps

Posted by Matt Alkire on Mon, Oct 21, 2013

As with any change, the decision to outsource debt collection will require you to communicate with key stakeholders and get their buy-in before you can move forward. Follow these five steps to begin building a case for outsourcing debt collection at your company:

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Topics: collection agency, outsourcing debt collection, hire collection agency, outsourcing, accounts receivable management, debt collection agency

Four Metrics for Evaluating Your Collection Agency

Posted by Jason Greiner on Mon, Oct 21, 2013

How would you choose one collection agency over another? Your first instinct may be to go with whichever agency collects more. But the truth is, every collection agency should be able to perform the task of collection—that’s what they are in business to do. As such, there are other factors that serve as more meaningful differentiators when judging collection agencies, including the following four metrics:

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