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August 2000 NewsletterUnbelievable...The things we find never cease to amaze us. The following is a reprint of an article found by our legal expert, Kim McGhee. She regularly keeps up on the latest legal news by reading online newspapers. This is just one of the articles she has found. We hope you find it as funny as we did! "How to Avoid Being Found by a Collection Agency" In this technological age, it's easy to run but hard to hide. Collectors use many different resources to find debtors. They may contact relatives, friends, neighbors and employers, posing as long-lost friends to get these people to reveal your new whereabouts. In addition, collectors often get information from post office change of address forms, state motor vehicle registration information, voter registration records, former landlords and banks. To avoid being found, follow these rules:
Consumer Law Center, © Nolo.com, 1998 What is ARC? Why Do I Need It?A few years back, I met with a client who was in a bind. They were short on staff, needed to spend time on insurance billing and day-to-day operations ñ could I help? Little did I know this would be the beginning of ARC (Accounts Receivable Contacts). Many years later, we have numerous clients using it and many more inquiring about it. What is ARC? It is a monthly statement program that allows us to monitor accounts, send statements, collect payments, and remit receivables back to our clients. If the accounts becomes past due, there is quick, concise and efficient follow-up applied to get it back on course, or transferred to another path. Why Do I Need ARC? Because it is successful! It buys you the greatest commodity around ñ time! By co-sourcing your accounts to us, we can do what we do best ñ collect your money ñ and you can do what you do best ñ take care of your customers. Another nice advantage of ARC is the ability to add interest to your accounts ñ and we keep track of it (special guidelines must be met). Who Should Use ARC? Operations that extend long term ñ longer than 90 days ñ payment arrangements. Companies that have loan agreements with the customers. Also, companies that have open accounts with their patrons. Take the time to see if we can increase your profitability ñ it will be worth it. Please call us for more information.
Tina S. Walther Protection, Privacy and PrivilegeRecently, I attended "The Morning Edition," a monthly Ann Arbor Area Chamber of Commerce breakfast. The program emphasizes a multitude of speakers from a variety of area businesses, power-packed into a short hour and a half. This particular breakfast included a presentation from Kathleen Barden-Perlberg, President of our Credit Reporting Division. Now, Kathy has always been particularly skilled in the public speaking arena. And this day her delivery carried a potent message with regard to our industry and the promises we make to our clients and customers. Through the use of three simple words, Kathy was able to convey what we are all about: protection, privacy and privilege. We encourage consumers to protect the privilege through the responsible use of credit as a tool. Kathy explained that our Credit Reporting department owns nearly 1.5 million credit files in Lenawee, Livingston, Jackson, Hillsdale, Saginaw and Washtenaw counties. This data is protected and held private to be released only when one is privileged to its access through the appropriate laws that entitle them to it. Kathy addressed several misconceptions regarding our industry. She explained that some may mistake us for "loan sharks," but we do not extend loans or accept deposits. She further extinguished the fallacy of the credit bureau as an arm of the FBI, and promptly added, "Though they wish they could have easier access to our data!" She continued with the correction of any misassumption about us having an affiliation with the Better Business Bureau. However, Kathy exclaimed, "Many of our clients believe our Bureau makes your business better!" We achieve this by collecting your bad debt and extending access to the national network of TransUnion credit files to help you make better business decisions. Kathy concluded that we are a child of the chamber established over 75 years ago. Yes, we are a family owned business and we take our responsibilities to this community very seriously. Kathy indeed captured the essence of what we do when she explained, "We are all about protection, privacy and privilege!"
Tom Oldani |
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