by HealPay | Jul 20, 2023 | Blog, Collections, Posts
Like most businesses, collections firms can be impacted by changing economic cycles—fluctuations in the economy from expansion to contraction. Understanding how economic cycles impact your firm and recognizing signs of changes can help you minimize the impact to your... 
by HealPay | Jul 12, 2023 | Blog, Collections, Posts
Trust is an important part of business success. Consumers are reluctant to do business with companies they don’t trust. The consumer relationship with collection firms is different from most other consumer-business relationships. In most transactions, consumers... 
by HealPay | Jul 11, 2023 | Blog, Collections, Posts
The average consume receives dozens of messages a day. With the ease of communications, the volume of daily communications isn’t a surprise. Unfortunately, that means collection agencies have to do a little more to capture consumer’s attention—within the... 
by HealPay | Jun 22, 2023 | Blog, Compliance, Posts
The Consumer Financial Protection Bureau (CFPB) recently issued an advisory opinion clarifying the rules for lawsuits filed by debt collectors on time-barred debts. The opinion became effective on May 1, 2023. The advisory opinion emphasizes that debt collectors who... 
by HealPay | Jun 20, 2023 | Blog, Collections, Posts
When it comes to recovering debts, understanding the psychology of consumers with debt is crucial. In this article, we will explore the emotional impact of debt, the behaviors exhibited by consumers, and strategies that can be used for effective debt recovery. The...