01 Jan How To Read Your Debt Collector’s Mind
Did you ever want to know why your debt collector does the things she does? Get free comprehensive information about the accounts receivables industry from InsideARM.com. There you will find news and analysis, blogs, industry reports and much more. Do you want to know how tightening credit in the student loan industry is predicted to cause more students to pay for tuition with credit cards? You will find that story and more at this site.
For example, I found an advertisement for a Trans Union collection service that helps your creditors prioritize their accounts. This service is called Triggers For Collection and it analyses changes in spending habits, changes in contact information and changes in available credit, to determine which accounts your creditors should spend their time and money trying to collect.
When a person moves to a new address or obtains a new telephone number, the debt collector who has that information is able to reach that person with a collection letter or call. Having up to date contact information is a top priority to being able to collect a debt and avoid endless dead end calls.
When a person applies for a new line of credit, that person could use that new credit to pay on an old debt. Likewise, if a consumer is approved for a new mortgage account, a home equity loan for debt payment could be possible. Another trigger occurs when a consumer pays off a significant debt, presumably having more money in the budget to pay another debt. Each example makes it more likely the consumer is able to pay a debt collector, according to Trans Union.
InsideARM is a publication of Kaulkin Media and its parent Kaulkin Ginsberg a company associated with the collection industry since 1989. I added this site to my favorites list.
Andy Miofsky, Esq.
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