State and federal enforcement agencies continued to aggressively enforce consumer debt collection protections during 2023. In 2023, Goodwin tracked 22 enforcement actions related to debt collection ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas ...

Commercial debt collection agencies typically charge contingency fees ranging from 15% to 50% of recovered amounts, with businesses paying nothing upfront and only when collections succeed. Collection ...

When a debt goes unpaid for long enough, it can move through a series of hands, first the original creditor, then a third-party debt collector and sometimes even multiple agencies afterward. Each ...

Utilizing data to drive the right approach in a rapidly changing environment is becoming “more impactful to recovery and collections performance than ever.” Those that do will be able to unlock ...

Phone calls and letters are still going strong in debt collections, but outreach via digital channels such as text and emails is gradually creeping up. So is the use of artificial intelligence and ...

Artificial intelligence offers debt collection companies the opportunity to vastly improve margins while achieving higher levels of regulatory compliance and maximizing scalability, writes Ohad Samet, ...

Complaints about aggressive debt collection have skyrocketed in recent months, federal data shows, a sign that more Americans are falling behind on credit cards and medical bills. The rise in ...