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Outsourcing vs. In-House Debt Collection: Pros and Cons

Eastern Credit Management Services

When it comes to debt collection, businesses are faced with a critical decision. Should they handle it in-house or outsource it to a professional debt collection agency like Eastern Credit Management Services (ECMS)? Resource Efficiency: Outsourcing debt collection saves your company time, manpower, and resources.

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Member Alert: DFPI Announces Advisory Committee Vacancies Submissions Due February 23, 2023

RMAi Blog

The California Department of Financial Protection and Innovation (DFPI) is currently soliciting applications for the 7-member Debt Collection Advisory Committee for the 2023-25 term. Owner, corporate officer or senior-level employees of debt collector licensees or applicants. Small and large agencies.

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How Long Does a Charge-Off Stay on Your Credit Report? 

CreditStrong for Business

Credit Karma describes charge-offs as unpaid debts that a creditor (lender) has “given up” trying to recover from the borrower. Here, lenders formally stop any direct debt collection efforts and often sell the old debt to third-party debt collectors or collections agency companies.