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home | Consumer Credit Mgmt | Consumer Credit Mgmt Archives

Consumer Credit Mgmt continued

Displaying Matches 47 thru 53 of 53 Found. BACK

Quicker Payments, Better Service
Customers of one West Coast utility have several opportunities to pay their bills: They receive the regular monthly bill. Ten working days later, . . . keep reading

Preventing Bad Checks
As a retailer of motorcycles and watercraft Northwest Honda (Houston, Tex.) does a lot of business with young people and is no stranger to bad checks. "A lot of young people don't have a lot of credit background and experience," notes Corporate Secretary-Treasurer Kay Rogers. "Bad checks cost the organization quite a bit." These costs include hiring people to track down the debtors and the fees and time involved in filing with the district attorney. In this article, you'll learn...

What part of the business generates the most bad checks for Northwest Honda
The three-step program they implemented to combat bad checks
Which check verification vendor they ended up using and how the process works
What threshold is used for check coverage
The results of the procedures they established

. . . keep reading

Collection Training: Developing Self-Management Work Teams
"We have 20 skip tracers, two analysts, and one part-time employee," says one Wisconsin collection department manager. He also had a directive from m . . . keep reading

Validation Notice: A Violation of the Fair Debt Collection Practices Act?
Mary purchased a bed and defaulted on the payment plan. The ABC Furniture Co. referred the claim to a collection agency and the collection agency wrote a letter claiming both Mary and her husband Bill were liable. Bill then called the agency and told them that he and Mary were divorced, and he, therefore, was not responsible for the debt. Bill never communicated to the collection agency in writing and assumed that the matter had been closed. About three months later Bill and his new wife applied for a mortgage on a new house. When the credit reports were ordered, he learned that the debt was still being reported and not as a disputed debt. At that point Bill retained a consumer attorney and instituted a suit against the collection agency for violation of the Fair Debt Collection Practices Act. Is the agency liable?

In addition to the "basics," the three key things that a validation notice must contain
Technical interpretations being applied to the statutory language in the Fair Debt Collection Practices Act
The true test for determining if a debt collector falsely reported a consumer debt

. . . keep reading

Controlling the Credit Application Process
"Remember that a name and Social Security number could belong to anyone," cautions one credit security expert. "I once arrested one person who had in his possession 144 different IDs and credit card numbers. He also had applications for other credit cards using other peoples' names and a mail drop. That kind of thing wouldn't happen if the credit grantors did more checking." ...

Three things you should check to control the credit app process - what they are and how one expert manages this.
Precautions he takes on telephone transaction and when accepting checks
Plus: three things you must know to have recourse for a bad check

. . . keep reading

Interest on Security Deposits
"Where's my interest?" demanded Barbara when the automobile leasing company representative handed here a check returning her security deposit. "Interest?" the man replied. "That's right," she said. "You held that money for three years while I had the lease. You must have made money with it, and the law says I'm entitled to that money." The finance company management sent Barbara a letter refusing to pay her interest and stating that the sums were commingled with other security deposits, and that there was no agreement under the terms of the lease agreement requiring them to pay her any interest. At that point Barbara instituted a suit against the auto finance company claiming that the deposit was collateral, that the company was required by the Uniform Commercial Code to hold that collateral separately from other collateral, and that she would be entitled to the interest earned over the three-year period. Does Barbara have a case? . . . keep reading

Prime-Time Collecting
In the TV industry, "prime time" runs from 6:00 p.m. to 10 p.m. "Collection prime time is a little different," says Florida collection professional. " . . . keep reading

Displaying Matches 47 thru 53 of 53 Found BACK

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