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The accounts receivable management industry – from collection agencies to debt buyers, and even creditors – is currently enamored with using a legal collection strategy. As the economy recovers, that strategy might gain even more traction with the rise of employment, a key aspect in leveraging the legal channel through wage garnishment. But even taking [...]
Skip tracing is a high priority in any collections environment, and developing this skill set in your staff is absolutely critical. It will be even more imperative to have a retooled skip tracing strategy as new accounts flood the ARM industry in the midst of economic recovery.
This is instrumental to the U.S. economy since consumers are borrowing money at unprecedented levels and the percentage of debtors is larger than ever. In 2007, the collections industry injected $39.3 billion dollars back into the U.S. economy.
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