This six-page primer will help explain to industry newcomers the basics of the ARM world:
- Where does debt come from?
- Who are the major players in the cycle and how do they interact (i.e. creditors, third-party collectors, debt buyers)
- The Collection Industry Plays an Important Role in our Economy
- Key ARM concepts including regulation and compliance, the significance of Consumer Financial Protection Bureau, and the creditor/collection agency relationship & brand management
The primer also includes a glossary of key terms newcomers should understand:
- Automatic dialing system
- Bad debt
- Consumer Financial Protection Bureau
- Debt portfolio
- Federal Trade Commission
- Skip tracing
- Statute of limitations
- Third-party disclosure
This is not intended to be a comprehensive training course. It's just an easy and inexpensive way to be sure that your new folks have a consistent grounding in concepts that may be new to them. Could you put this together yourself? Sure you could! But for $39, why go to the trouble? We've taken care of one of the many chores on your list.
You only need to buy this once, and are free to copy it within your company whenever you need to (please, it's just $39 -- don't send it to all of your friends at other firms, too).