From beginning to end, your customers’ experience with your debt collection team can affect your brand reputation as well as your success in collecting revenue. Simple adjustments in approach as well as investments in modern technology will benefit you now and in the long run.
Without a guaranteed end date for the pandemic’s economic effects, businesses are in a unique position to modernize their collection practices in real-time while helping customers overcome their financial hurdles.
There has never been a better time to implement a new approach to collection–one rooted in empathy, collaboration, and problem-solving.
In a matter of weeks, COVID-19 has sent shockwaves through the lending industry. For banks, credit unions, direct lenders and other FinTech organizations, customers have shifted gears from aggressively planning for the future to focusing on immediate concerns.
As the pandemic adds financial strain to Americans who were already struggling to pay their bills on time, those contacted by debt collectors face heightened stress. A new survey from CCM reveals why the collection industry needs to change for the better.
In a story for CU Today, our CEO Jacob Corlyon discussed the importance of credit unions to have an effective plan in place to help members transition from forbearance to repayment, citing data from CCM’s national consumer debt survey.
CCM was ranked among the top places to work in collections by InsideARM, one of the leading publications in accounts receivable management and debt collection.
This is an attempt to collect a debt and any information obtained may be used for that purpose.
New York City Residents:
The New York City Department of Consumer Affairs requires us to document your preferred language. Please note we do not offer language access services, and we will be communicating in English. Please provide us with your language preference. The NYC DCA provides a translation and description of commonly-used debt collection terms in multiple languages on the Department's website, NYC Department of Consumer Affairs.