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Debt Collection

Debt collection refers to the work done to recover balances from credit accounts that are past due. Most commonly, debt collection specifically references third party debt collectors whose clients include banks, credit card issuers and other credit grantors, debt buyers, governments, and any organization that extends credit or owns an account where a balance is due. Collection methods traditionally include phone calls from call center agents, e-mails, and letters, and increasingly, SMS text. If an account remains in arrears after these efforts, the collection agency may contract with a collection attorney to file suit to recover the debt, if the collection agency is not positioned to do so.

Recording Phone Calls

Free Webinar Highlights Speech Analytics Solutions for Collections

Genesys will host a free webinar on Thursday, September 4 at 2 p.m. Eastern titled “Delivering Proven Speech Analytics For Collections.” Michael Miller, Vice President, Customer Strategy – Analytics at Genesys, and Chris Bohlin, Director – Proactive Customer Communications at Genesys, will discuss how to use speech analytics to drive better, more predictable agent workflows […]

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New FDCPA Requirement for Debt Verification: Is There More to the Story?

A recent Circuit Court opinion examined the issue of what constitutes adequate verification in the context of multiple requests for validation by the consumer focused on a specific portion of a debt. While it has been argued that the case requires a debt collector to provide itemized statements whenever any request for validation is received, this interpretation is not borne out by a careful reading of the case and other applicable precedent.