Courts are finding that when consumers sign a contract with a company and establish a bargained-for exchange they can no longer revoke consent to be contacted. This has broad implications for the collections industry as it relates to an agency’s ability to contact consumers on behalf of the clients they serve.
Turning Red to Black Blog: Discussing Topics Related to Revenue Cycle Management, Debt Collection, Debt Recovery, Debt Management, Billing Operations and Billing Procedures
Organizations may think they are better off selling their debt to a debt buyer but they can make more money by utilizing a third-party agency, plus the debt buyer has no interest in preserving the reputation of the debt seller, so they may use less than desirable techniques than a debt collector.
In July of 2018 I had the pleasure of being on the team representing Simon’s Agency at the HFMA 2018 Annual Conference in Las Vegas, Nevada. I have previously attended many trade shows and conferences throughout the years in various industries as a participant, presenter and exhibitor. The professionals I met at HFMA are the top tier across the board.
We work with many clients throughout the country and every single one of them provides a valuable service to their own customers, patients, members, and clients. Many, in fact, provide an expert level of care in fact. Whether it’s the teamwork involved in prepping a patient, performing a surgery and caring for the patient during recovery or the coordination involved in securing a loan for a consumer to purchase their next vehicle or fund a home improvement, our clients provide their customers with a very high level of care. This is care they should expect to receive from their partners and vendors as well.
Through some of the toughest regulatory environment factors ever faced by third-party debt collectors, the industry is responsible for collecting approximately $78.5 billion in total debt in 2016 according to a study commissioned by ACA International all the while dealing with exceedingly fewer complaints.