The Top Key Performance Indicators for Debt Collection Success: Part Two
Metrics are the pulse of your operation. They tell you when your strategy is working, when it’sstalling, and when it’s straight-up costing you money. For debt collection agencies, knowingwhat to track is half the battle. The other half is understanding what those metrics actually meanand how to use them to create better outcomes for your […]
The Top Key Performance Indicators for Debt Collection Success: Part One
Discover the top key performance indicators for debt collection success and learn how to track, analyze, and improve your agency’s performance.
Text, Call, Email, Repeat: How to Nail Omni-Channel Debt Collection Without Getting Blocked
Learn how to master omni-channel debt collection to improve contact rates, avoid getting blocked, and stay compliant across calls, texts, and emails.
AI in Debt Collections: Staying Compliant In A Changing Landscape
AI in debt collections is no longer a futuristic concept. It’s here, it’s powerful, and it’s reshaping everything from how we engage consumers to how we ensure compliance. From AI-powered chatbots and predictive analytics to real-time compliance monitoring, artificial intelligence is helping collection agencies boost recovery rates while reducing manual workload. But here’s the catch: […]
Broken Billing Tech UX Affects Payment Rates in Debt Collections
Recently, a colleague of ours received a bill in the mail from a healthcare provider. Upon opening it, she saw that it had a QR code printed so she could quickly pay by phone. But when she tried to scan the code, nothing happened. The issue? The QR code had been printed right where the […]
Breathe In, Collect On: Managing Burnout in Debt Collections
In debt collections, pressure is part of the job. Managers juggle performance metrics, compliance rules, and difficult conversations, while agents often spend their days absorbing the stress and emotions of frustrated consumers. It’s no secret that this line of work can leave even the most resilient professionals running on fumes. That’s why managing burnout in […]
How Modern Technology Is Accelerating Debt Collections for Agencies Looking to Boost Recovery Rates
The old-school collection model with agents dialing phones, negotiating payments, and logging compliance notes is being quickly transformed. Now, agencies looking to boost recovery rates are leaning into modern technology that doesn’t just streamline the process but supercharges it. From automation to AI to smarter data usage, tech is helping agencies work faster, recover more, […]
The Hidden Power of Vendor Partners in Debt Collection Success
In debt collection, success doesn’t just happen, it’s built through strategy, technology, and, most importantly, partnerships. Vendor partners in debt collection aren’t just service providers; they are the backbone of innovation, compliance, and operational efficiency. From sponsoring industry events to providing game-changing technology and compliance insights, these partners shape the future of collections. But what […]
How Debt Collection Supports the U.S. Economy
When most people think about debt collection, they often picture endless phone calls, stacks of overdue bills, and a sense of financial stress. But here’s the reality: debt collection is vital in keeping the U.S. economy running smoothly. Without it, businesses would struggle to stay afloat, credit would be harder to obtain, and the financial […]
How Skip Tracing Helps To Reduce Wrong Numbers in Debt Collection
Reaching the right consumer can be a challenge in debt collection. With phone number reassignments happening frequently, collection agencies often end up calling individuals who have no connection to the debt they are attempting to recover. This not only wastes time and resources but also increases compliance risks. Skip tracing helps to reduce wrong numbers […]
Next-Ready Debt Collection with Platform-Agnostic Tools
Debt collection agencies that rely on rigid, single-platform solutions may find themselves struggling to keep up. The ability to adapt and integrate seamlessly with various systems is no longer optional, it’s a necessity. Debt collection with platform-agnostic tools allows agencies to maintain consistency, improve efficiency, and ensure long-term stability, regardless of changes in software or […]
Why Now Is the Time to Invest in Debt Collection Technology and Software
Higher recovery rates, increased consumer engagement, and regulatory shifts are driving collection agencies to reassess their technology infrastructure. Agencies that delay adopting debt collection technology and software risk falling behind, while those that invest now can improve efficiency, compliance, and revenue. The Growing Demand for Debt Collection Technology Consumer behavior is changing. Fewer people answer […]
Why Texting and Emailing for Debt Collection Are Game Changers for Agencies
Debt collection agencies have long relied on phone calls and letters to communicate with consumers, but these traditional methods are becoming less effective. Many consumers no longer answer calls from unknown numbers, and mailed notices are often ignored. This shift in communication preferences makes texting and emailing for debt collection an actionable strategy for improving […]
Upgrading Your Tech Stack: Payment Portals and Telephony Solutions Made Easy
Payment portals and telephony solutions have become the backbone of modern operations, offering streamlined workflows and better communication opportunities. By embracing these tools, collection agencies can optimize consumer engagement while improving payment outcomes. Assessing Your Current Tech Stack Integrating payment portals and telephony solutions requires a thoughtful approach to ensure everything works smoothly. A payment […]
Debunking Myths About the Debt Collection Industry
Ask the average person what they know about the debt collection industry, and we can assure you that the answers are grounded in many misconceptions. These myths can create unnecessary fear and mistrust, both for consumers and the collection agencies tasked with recovering unpaid debts. By debunking myths about the debt collection industry, we can […]
How Behavioral Insights Improve Debt Collection Outcomes
Debt collection methods are shifting as phone calls become less effective and more agencies turn to text messages, emails, and inbound call strategies. Understanding how people think and act is key to creating better ways to recover debts. Behavioral insights improve debt collection by helping agencies communicate more effectively and connect with consumers on a […]
Boosting Collections Agent Performance with TEC’s Solutions
TEC Services Group offers a suite of six core solutions designed specifically to boost collections agent performance, streamline operations, and drive better results. By leveraging TEC’s innovative technology, agencies can ensure that their agents are well-equipped to meet the demands of modern debt collection. This approach to boosting collections agent performance not only increases productivity […]
Boo! How to Avoid Scaring Customers During Debt Collections
Debt collection can be a tricky process, but the last thing you want to do is frighten your customers away like a haunted house on Halloween night. To avoid scaring customers during debt collections, it’s important to implement strategies that keep the interaction calm, respectful, and productive. By maintaining a positive tone and showing empathy, […]
Ghosting Debtors: The Scary Side of Unpaid Healthcare Debt
Ghosting isn’t just for haunted houses; it happens when patients vanish into thin air, leaving unpaid bills behind. The phenomenon of unpaid healthcare debt creates serious challenges for healthcare providers and debt collectors, who must figure out how to track down these “ghosting” debtors and encourage payment—without scaring them further away. But why does ghosting […]
The Spookiest Debtor Excuses and How to Handle Them
Debt collectors have heard it all—every excuse under the moon (and some even more outlandish than a werewolf’s howl). As Halloween approaches, we’re unearthing the most common debtor excuses and how to handle them. From vanishing payments to ghosted phone calls, here’s how to handle these frightful excuses with professionalism, empathy, and a touch of […]
