As a startup founder who develops payment software to collection attorneys, this story really resonates!
Every account has a story behind it and the BEST way to collect is to personalize the settlement experience in a compliant, secure way
Having been in the space for only a few years, the depiction of the industry -pre 2010- seems incredibly accurate from what clients tell us.
Modern interpretation of the FDCPA is desperately needed. In 2014, contacting consumers via cell phone and email is against the law or at best a very grey area.
Sending letters via snail mail are mandated over email. Moreover, ACH payments are still preferred over Card payments… IMO, a 3-5 day settlement time should NOT be the standard way to move money in any industry.
Every account has a story behind it and the BEST way to collect is to personalize the settlement experience in a compliant, secure way
Having been in the space for only a few years, the depiction of the industry -pre 2010- seems incredibly accurate from what clients tell us.
Modern interpretation of the FDCPA is desperately needed. In 2014, contacting consumers via cell phone and email is against the law or at best a very grey area.
Sending letters via snail mail are mandated over email. Moreover, ACH payments are still preferred over Card payments… IMO, a 3-5 day settlement time should NOT be the standard way to move money in any industry.