Article archive
Every published article, newest first. Page 12 of 12.
LicensingThe Collector Hero
Remember your childhood hero that you always looked up to? Maybe it was Superman, an athlete or even a rock star. The debt collection industry can be a tough one, but just like your childhood hero, this industry has heroes. In most offices, you'll find a Collector Hero. The Collector Hero is someone that you [...]
LicensingChoosing the Right Vendor for your Business
Does it seem like every time you turn around there are more vendors to choose from when it comes to your business? It's a job in itself to choose your next vendor partner. However, having the RIGHT vendor is critical to the success of your business. Vendors can be a great help when it comes [...]
Licensing5 Steps to Business Success
What's the definition of business success? The answer: there is no right answer. Success is defined and determined by you. What's important to your business? Is it profitability or revenue growth? What about customer satisfaction and loyalty? You generally must first determine your goals. That is how you define what it means to your business to [...]
LicensingMonthly Debt Collection Complaints Decline
WebRecon reports an increase in year-to-date consumer litigation cases, but the Telephone Consumer Protection Act continues to produce low numbers. Complaints to the Consumer Financial Protection Bureau filed against debt collectors declined 10 percent from July to August, according to the latest debt collection litigation and complaint statistics report from WebRecon. However, WebRecon CEO Jack [...]
LicensingRegulatory Updates In Massachusetts
Cornerstone received a note from the Chief Director for Mortgage Examinations this week, including regulatory updates for Massachusetts. The information received contained the following message: One of the key objectives for the Division of Banks is to complete a comprehensive review of all Regulatory Bulletins to determine opportunities to reduce unnecessary regulatory burden by streamlining, [...]
LicensingCourt Upholds Decision on Authority of FTC in Data Security Cases
The following article was originally posted on acainternational.org The Federal Trade Commission enforcement holds companies accountable for protecting consumers' privacy and data security under the FTC Act. The U.S. Court of Appeals for the Third Circuit reaffirmed a federal district court ruling that preserves the Federal Trade Commission's authority to take action against companies that [...]
LicensingChanges of Control: Cornerstone Series #2
Cornerstone Support has partnered with The National List of Attorneys to do a blog series on licensing. Cornerstone Support is a licensing service provider to the collection industry. You can learn more about The National List of Attorneys and view our blog series by visiting their website. Below is the second article in the series. [...]
BondsBonds: What's the Catch?
I gave a client a quote on his collection agency bonds last week and he did a double take, asking "What's the catch?" The quote was 33% less than what he currently pays. I assured him there was no catch. I am proud of the service and value we provide to our clients, and it [...]
LicensingLicensing 101: With The National List of Attorneys
Cornerstone Support has partnered with The National List of Attorneys to do a blog series on licensing. Cornerstone Support is a licensing service provider to the collection industry. You can learn more about The National List of Attorneys and view our blog series by visiting their website. No two licensing projects are exactly alike. In [...]
LicensingSelecting a Specialized Insurance Agent
In recent months, we have spoken with an alarming number of collection agencies and debt buyers who bought (or nearly bought) E&O policies based on questionable advice from their insurance agent. Incredibly, some of these insurance agents were with companies who claim to specialize in coverage for the ARM industry and advertise extensively in industry [...]
LicensingAre Your Windows Dirty?
Fingerprints, smudges, bug guts, and even dog-slobber are all familiar hallmarks of dirty windows. But what about bar codes? Or a corporate logo? Words, letters, or numbers? Ever see these later items obscure your window? If not, then maybe you are not loo king at your own collection letters. Consumers and courts are peering through [...]
LicensingThe CFPB Against Everybody: What we can Learn From the Latest Civil Action
In March of 2015, the CFPB filed a civil action against a host of defendants. Caught up in this legal net were several alleged debt collection agencies, a host of payment processors, and a technology vendor. The CFPB alleges that "debt collectors" engaged in schemes to defraud consumers by collecting from them debts that, for [...]
LicensingOutsourcing - Does it Make Sense?
It is interesting to me the number of conversations that I have with agencies regarding the basic tenets of outsourcing. While my conversations are specifically related to licensing, more often than not I find myself walking through the more general advantages of outsourcing - those benefits inherent to the idea of outsourcing regardless of industry. [...]