TITLE

How the Web Can Boost Debt Collections

AUTHOR(S)
Browning, Michael
PUB. DATE
June 2005
SOURCE
Bank Technology News;Jun2005, Vol. 18 Issue 6, p55
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article focuses on usage of web in debt collection. Consumer bankruptcy filings increased to 1.625 million in 2003, up 5.5 percent from the previous year according to the Administrative Office of the U.S. Courts. At the same time, the government agency reported that average credit card and car loan debt reached record heights, accounting for approximately $ 12,000 per household. These alarming statistics have amplified the need for improved collections efforts by creditors. For years, mass mailings and outbound phone calls were the primary tools of the trade, which many felt were either ineffective or extremely intrusive to consumers. Previously, on-line collections solutions relied on a one-size-fits-all approach. Consumers would be directed to a Web site where they could set up standard re-payment plans with creditors.
ACCESSION #
17400420

 

Related Articles

  • BANKS, DEBT BUYERS CONTINUE SELLING CHARGED-OFF CREDIT CARD ACCOUNTS.  // CardLine;3/16/2007, Vol. 7 Issue 11, p10 

    The article focuses on the practice of banks and debt buyers selling charged-off credit card portfolios in anticipation of tougher economic times in the U.S. 2007. Roughly $799 million in new debt portfolios of all types were listed during the second week of March. In addition to banks, debt...

  • SOUTHEAST INVISIBLE SUPPLY.  // Bond Buyer;1/8/2009, Vol. 367 Issue 33037, p8 

    The article reports on issues related to sewer debt crisis in Jefferson County, Alabama. Many are riding on what happens in the first half of the year and the county's sewer system is $3.2 billion in debt. With this, most of them are in variable- and auction-rate mode, and the debt is covered by...

  • In Alabama and Jefferson County, The Bad-News Saga Just Stretches On. Sigo, Shelly // Bond Buyer;1/8/2009, Vol. 367 Issue 33037, p8 

    The article reports on issues related to sewer debt crisis in Jefferson County, Alabama. Many are riding on what happens in the first half of the year and the county's sewer system is $3.2 billion in debt. With this, most of them are in variable- and auction-rate mode, and the debt is covered by...

  • Dig your way out of debt fast. Wiesendanger, Betsy // All You;8/1/2012, Vol. 9 Issue 8, p119 

    The article offers tips on how to eradicate debt fast. The author suggests to list credit balances, to gather one's bill and to jot down creditors. Moreover, she also recommends to negotiate the interest rates with credit card firm, to save money for the emergency fund, and to eliminate one's...

  • WALLET WATCH. Kobliner, Beth // Glamour;Jul2006, Vol. 104 Issue 7, p110 

    The article presents a question and answer advisory about credit scores. A reader asked how does she boost her credit score. Author Beth Kobliner suggests that the top factor to increase her credit score is paying bills on time. Next is paying down her debt. Kobliner also indicate that signing a...

  • Study Examines Which State's Citizens Have Highest Card Debt.  // Credit Union Journal;9/1/2008, Vol. 12 Issue 35, p17 

    The article focuses on the study by the Americans for Fairness in Lending (AFFIL) that examines which state's citizens in the U.S. have highest card debt. According to such study, Alaskans hold more credit card debit than residents of any other state, and that West Virginia residents carry the...

  • CREDIT CARD DEBT ON MARKET IS 'OLD'.  // CardLine;9/28/2007, Vol. 7 Issue 39, p12 

    The article reports on the descrease in the volume of credit card debt portfolios posted on public Web sites in the U.S. Virtually all the available credit card portfolios were in the resale market. When a debt is out of statute, a creditor or collection agency can continue to try to collect on...

  • Analysing the debt dynamics across countries. Das, Kamalika; Bhardwaj, Upasna // Journal of Corporate Treasury Management;May2011, Vol. 4 Issue 2, p150 

    The world is currently in the throes of a sovereign debt crisis, which in its enormity is comparable to the Latin American crisis, which occurred two decades ago. The situation currently seems to be less toxic than a few months back when it appeared as though a real impasse had been reached....

  • Paying Down Debt? Uh-oh. Collingwood, Harris // National Journal;10/14/2011, p1 

    The article reports on the move being made by Americans to trudge toward a debt-free existence. It highlights the 8 million U.S. consumers who have stopped using credit cards in 2010. It explains the paradox of deleveraging which happens when consumers, business and government retire their debts...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics