Rob Fite is the Vice President of Collection Solutions for LexisNexis® Risk Solutions, and brings with him nearly 20 years of experience in the fields of collections, credit, and risk management. At LexisNexis, Rob is responsible for leading LexisNexis collections market strategies, product development, business direction and revenue growth.
Under the FDCPA, debt collectors are allowed to contact a debtor’s friends, relatives, or neighbors to obtain location and/or contact information. This is an important piece in the skip-tracing puzzle when attempting to find hard-to-reach consumers. But there are many very specific rules that come along with this privilege.
It happens quite a bit in collections operations; redundant collections efforts by the same agents working for the same collection entity, engaged in frequent overlapping calls and conversations with the same debtor, regarding the same debt and or other debt obligations, during the same day or week.
Collection organizations are recognizing that in order to drive better results from emerging technology, they must leverage and integrate traditional collection infrastructure that is already in place.
We have identified four primary debtor categories that collectors (from both a first and third party environment) encounter in their recovery efforts, and ways to deal with each.