Welcome to Debt Collection Guide
Debt Collection Business Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
The Basics of Debt Collection Software
from:Debt collection software is a program that helps companies track debts. This software is designed to keep track of payments, fines, penalties and other matters concerning the accounts of debtors.
Benefits of debt collection software
First of all, debt collection software will help you get organized. Instead of having piles and piles of paperwork in the office, debt collection software can consolidate all the information in one place. At the same time, debt collection software can be easily updated. Once the debtor pays a certain amount, it can be easily recorded by the software. This way, you can keep better track of the activities in each account. You will have all the necessary information, including the date and time that the payment was made and the amount that was paid.
Secondly, debt collection software is a great way to keep track of your correspondence with your debtor. Debt collection software has features that allow you to record the exact day and time the collection letters were sent. In some cases, debt collection software can record portions of phone calls. If ever the case goes to court, you can use the debt collection software to show evidence that you tried to maintain correspondence with the debtor.
Lastly, using debt collection software is much cheaper than hiring people or agencies to track accounts for you. For smaller businesses, hiring an external agency or person to do organization and collection of debts will be too costly. Debt collection is a much cheaper alternative.
Features of debt collection software
When purchasing debt collection software, there are a few features that you should look for:
An accounting feature – When debt collection software has an accounting feature, it will be able to account for all payment activities that are made for each account. This way, even if the debtor insists on smaller but more frequent payments, you can still keep track of each payment.
Auto dialing – You should get debt collection software that can be hooked up to the telephone for auto-dialing. With just a single click, the computer can instantly dial the debtor’s home phone number or cellular phone. You will no longer waste time to locate contact details of the debtors.
Letter Templates – Choose debt collection software that has templates for debt collection letters. This way, you don’t have to spend too much time drafting letters. By simply plugging in the information of the client onto the template, you will be able to print the letter in minutes.
However, remember that the software should also serve your company’s needs. The software you use should help make debt collection easier. It should help you monitor the accounts. In the event that the debtor disputes the debt, you can easily use the debt collection software to verify the nature of the debt.
Debt Collection Business News
Hospital Debt Collection A Symptom Of A Sick Health Care System - Huffington Post
Hospital Debt Collection A Symptom Of A Sick Health Care System Huffington Post Fairview Ridges Hospital is owned by Fairview Health Services, a nonprofit Minnesota chain that, until recently, contracted with Chicago-based Accretive Health, a company that manages billing and debt-collection for hospitals. |
Accretive weighs dropping debt collection business amid controversy - Crain's Chicago Business
 Chicago Tribune | Accretive weighs dropping debt collection business amid controversy Crain's Chicago Business By Anthe Mitrakos May 09, 2012 (Crain's) — The CEO of embattled Accretive Health Inc., which has been accused of illegal practices by the Minnesota attorney general, said on Wednesday that the company is thinking of getting out of the debt collection ... Accretive Health may farm out debt-collection work Accretive Health, Hospital Debt Collector, To Receive Millions In Tax Benefits ... After Questions on Tactics, Accretive Cuts Forecast |
Debt collection business seen flourishing - Warsaw Voice
Debt collection business seen flourishing Warsaw Voice Kruk debt collector will likely post a record net profit of PLN 80 million in 2012, the daily Rzeczpospolita wrote citing analysts. The entire sector sported a PLN 37.6 million net profit in Q1, up from PLN 24 million in the prior year period, ... |
Chicago medical debt collector's methods chastised - Chicago Sun-Times
 Daily Beast | Chicago medical debt collector's methods chastised Chicago Sun-Times By ALEXANDRA TEMPUS April 25, 2012 5:54PM Accretive Health Inc., the Chicago-based medical debt collection company, routinely pressured patients in Minnesota hospitals to pay for services before treatment was given, going so far as to collect at a ... Minn. attorney general cites Accretive for aggressive collection tactics in ... Medical debt collector accused of too-tough tactics Accretive shares plummet after critical AG report |
NC rules a model for debt-collection company - Business Journal of the Greater Triad Area
NC rules a model for debt-collection company Business Journal of the Greater Triad Area Bill Bartmann knows some of his colleagues in the debt-collection business don't much care for him, or his efforts through the years to reform what he says are rampant unethical and illegal practices in the industry. “They don't send me Christmas cards ... |