Weekly Top 10 – Week of July 18, 2010
Each week we bring you 10 of our most favorite stories from around the industry.
Week of July 18, 2010
1. Debt collection lands 3 men in Utah County jail
(ksl.com, 07/22/10)
Three men rush into a home in an attempt to recoup $400.
P.S. – If you are looking for a juicy story about a collection agency violating the law you’ll be disappointed.
2. Debt Collection: A Look Inside Collection Training
(PRLog.org, 07/22/10)
Michael Brazier of Freedom Debt Management reviews six tactics that collectors are using to “manipulate” or “trap” customers. Brazier lists thinking positively as one of those methods. Seriously? Positive thinking?
3. Debt collection can be a dirty business
(Tampa Bay Online, 07/21/10)
Attorney Jeff Kaufman says about debt collectors: “You’re talking about a bunch of guys in boiler rooms…these people do whatever they want…It’s pretty dirty.” Kaufman goes on to say that collectors “prey upon the weak” and calls collectors “creepy human beings.”
Too many movies perhaps?
4. Collecting a bounced check takes 1,600 days
(HAARETZ.com, access 7/23/10)
Interesting collection statistics from Israel. Buckle up.
5. Some debt collectors turn to Facebook
(Arizona Daily Star, 07/20/10)
Consumer claims to be broke. Facebook photos show Corvette and fishing trip. Consumer decides to pay bill in full.
6. Collection Agency Welcomes New Team Members in Michigan Office
(PRLog.org, 07/19/10)
American Profit Recovery adds three to their sales team.
7. ‘RealHousewives of New Jersey’ star Danielle Staub files report with Wayne police
(NorthJersey.com, 07/19/10)
It doesn’t involve a professional debt collector, but we just couldn’t resist the story about a 30 year old debt and 50 phone calls in one day.
8. Debt Collection From the Collector’s Point of View
(The Atlantic, 07/16/10)
Editor Megan McArdle piggybacks off of CNN’s “confessions” slideshow and asserts that “The fact is, collecting money from those who owe it is a miserable job. That means that the people who do it are going to be miserable–and that it’s probably hard to attract high quality workers.” Is this really a fact? Share your thoughts.
9. New Financial Regulatory Law to Impact the Debt Collection Industry
(insideARM.com, 7/23/10)
ACA International, The Association of Credit and Collection Professionals, issued a press release concerning the Consumer Financial Protection Act of 2010 that President Obama recently signed into law. You might also be interested in FDCPA Defense Attorney Tomio Narita’s overview for collectors which can be found here.
10. CNN Spins Words of Ex-Debt Collectors into “Confessions”
(insideARM.com, 07/21/10)
insideARM.com’s managing editor Michael Klozotsky gives his two cents on CNN’s “confessions” slideshow. You don’t want to miss this post.
