In some states, these include statutory
bond requirements ranging from $5,000
to $10,000.
The simplest way to deal with these
complicated circumstances is to hire a
collection industry licensing service
provider. Professional licensing services
know the requirements of each
governmental entity, and have experience
delivering the right information in the
way each entity wants it.
Build Relationships with Other Collectors
Attending networking events to meet
and build relationships with other
commercial collectors is important for
everyone, but for collection attorneys,
meetings where attorneys and people
who own or work at agencies mix are
nothing short of vital.
An attorney should never do work
assigned directly by the business that is
owed the debt, Roosen cautions.
“New [commercial collection]
attorneys need to know you never
consider going directly to a client—it’s
taboo,” Roosen said, noting that it
violates the principle of the triadic
relationship in which clients contract with
agencies, and agencies hire attorneys.
Violating this rule might bring a
short-term gain, Roosen said, but in the
long term, no agency will want to work
with you.
“You want to get your name out
there, so everyone knows who you are,
what you do, and where [geographically]
you are,” Roosen said.
Collection agencies, both domestic
and international, also have occasion to
refer client cases to each other.
“Establishing personal relationships
can both help an agency make better
referrals and increase its chances of
receiving them,” Cohen said.
.What did YOU do for the ollectors Challenge C
Don’t forget to send in your photos, videos
and stories from Collectors Challenge month.
And thank you for supporting the ACA
International Education Foundation’s scholarship
programs! We couldn’t do it without you.
For full submission information, visit
acainternational.org/collectorschallenge
