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COMMERCIAL COLLECTION AGENCIES OF AMERICA NEWS

Are you asking the right question?
Commercial Collection Agencies of America
Many of your companies send out requests for proposals, or requests for information, for debt recovery services.

Many of you receive telephone calls from collection agencies soliciting your business.

Are you asking the right question? Besides asking about processes, techniques and rates, are you asking,

"Is your agency certified by Commercial Collection Agencies of America?"

If not, you should.

Certification, through Commercial Collection Agencies of America, ensures that your accounts are handled by a collection agency which is properly bonded and licensed, meets rigorous, ongoing requirements and adheres to a strict code of ethics.

Commercial Collection Agencies of America has the premier certification program in the industry. Promulgated by an independent Standards Board of professionals, including corporate credit managers, the requirements are intensive, making the program unparalleled.

Don't be confused by other certification programs which do not possess the necessary requirements to create a solid certification. Don't be confused by other associations which have certified and non-certified members. Commercial Collection Agencies of America is the ONLY organization in which ALL members are certified — quite a distinction.

Agency members of Commercial Collection Agencies of America, most of which have been certified for decades, are the leaders in the commercial collection industry, restoring billions of dollars back into the U.S. economy each year on behalf of their clients, while elevating the standards of the commercial collection industry.

Whether you are asking via RFP or RFI or you are fielding a call from a collection agency sales person, make sure you are asking the right question!

For a list of certified agencies, please visit www.commercialcollectionagenciesofamerica.com or contact Executive Director Annette M. Waggoner at awaggoner@commercialcollectionagenciesofamerica.com or 847-907-4670.
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INDUSTRY NEWS


US Senate Banking chair says looking closely at Fed governance
Reuters
The head of the U.S. Senate Banking Committee said he was looking closely at a proposal that would reduce the power of the New York Federal Reserve Bank to distribute it more widely across the U.S. central bank system. "It's a proposal we are looking at very strongly," Shelby said when asked about the idea put forward by the head of the Dallas Federal Reserve Bank to have the New York Fed's permanent vote on monetary policy rotate every two years.
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Using customer meetings at trade shows to balance credit risk, opportunity
Credit Today
You can't blame the customer for trying to get the best credit terms on a big new order — or your salesman for supporting him. But risk is your responsibility. This credit veteran has found that a meeting between the three of you at a trade show can be the best place for quickly balancing risk and opportunity.
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New York bill would ban debt collectors from using social media
InsideARM
A bill introduced in the New York State Senate would make it illegal for debt collectors and original creditors to use social media in their collection efforts. The bill uses vague language in its prohibitions, but its intent is very clear. NY Senate bill 3803 was introduced Feb. 17. Sen. Kevin Parker (D-Brooklyn) noted in the bill's "purpose" language that the measure is meant to"specifically "prevent debt collectors from using online contact information as a means to collect on a consumer debt."
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Greek banking, trade links threaten Bulgaria, Balkans
Reuters
With strong trade and banking links with Greece, Bulgaria and its Balkan neighbors remain highly vulnerable to the threat of Greek financial collapse, even though dependence is lower than it was a few years ago. While Athens seems for now to have secured an extension to its bailout, the danger of an eventual euro exit still exists, with the risk that Greek banks, facing a run on deposits, will be forced to cut off funding to overseas subsidiaries.
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Stockton, California exits bankruptcy protection
The Wall Street Journal
The city of Stockton, California left bankruptcy protection on Feb. 25, bringing to close years of cost-cutting efforts that affected bondholders, taxpayers and its retired employees. Stockton leaders said the 300,000-resident city will leave so-called Chapter 9 protection — the type of bankruptcy procedure used by struggling municipalities — on sturdier financial ground.
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Archdiocese plans property sales to pay bankruptcy debts
Minnesota Public Radio
The Archdiocese of St. Paul and Minneapolis plans to sell its chancery office and three other properties to help pay creditors in bankruptcy, chief financial officer Tom Mertens told a creditors' committee meeting recently. Mertens said the archdiocese will ask a bankruptcy trustee for permission to sell a property in Northfield and three St. Paul buildings.
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Is this job candidate a devil or angel?
By Mel Kleiman
It is human nature to prefer like-minded others who share our values, assessments and opinions, but it's in your best interest to curb this tendency when evaluating job candidates. Nothing could be a bigger hindrance to your organization's success than being fully staffed by cookie-cutter replicas of top management. Think about it. Do your customers all think, look and act alike? Most certainly not. How are you going to "find a need and fill it," if no one on staff knows what that need might be? Here are a few tips to help you avoid this misstep.
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How great coaches ask, listen and empathize
Harvard Business Review
Historically, leaders achieved their position by virtue of experience on the job and in-depth knowledge. They were expected to have answers and to readily provide them when employees were unsure about what to do or how to do it. The leader was the person who knew the most, and that was the basis of their authority. Leaders today still have to understand their business thoroughly, but it's unrealistic and ill-advised to expect them to have all the answers.
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The Pillars
Annette M. Waggoner, Executive Director, 847.907.4670

Colby Horton, Executive Vice President of Publishing, 469.420.2601
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Cait Harrison, Content Editor, 469.420.2657   
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