The Elephant in the Mirror: Self-Awareness in Debt Collection Audits 

Just like elephants recognizing their own reflection—a sign of intelligence and self-awareness—collection agencies and repossession vendors must be able to see themselves clearly through audits. A strong audit process isn’t about playing “gotcha” or simply checking boxes. It’s about recognizing weaknesses, strengths, and blind spots.  Embracing the Audit as a Mirror  Let’s face it: no one enjoys being audited. Especially when the auditor is an outsider. It can feel intrusive, […]

Can a Goat be a Great Collector? 

After exploring the Plastic Owl and Antelope Theories, I began thinking about what other animals could join our wildlife-inspired series on workplace behavior. Naturally, I turned to what I know best: collection calls.  Over the years, I have listened to thousands of them. And if there is one universal truth, it is this—customers want to be heard, not judged. They want to be understood, offered solutions that fit their situation, […]

Financial Education Reimagined: Reaching Customers Who Don’t Answer the Phone, Text, or Email? 

One of the most persistent frustrations in consumer finance—especially with subprime portfolios—is figuring out how to educate customers about their financial responsibilities, credit behavior, or available support… when they won’t pick up the phone, reply to texts, or open emails. Maybe the issue isn’t that they don’t care—maybe it’s that we’re not reaching them in the right way.  Consider the financial education required during Chapter 7 bankruptcy. This is a […]

Federal Judge Blocks Efforts to Dismantle the Consumer Financial Protection Bureau

In a significant legal ruling, U.S. District Judge Amy Berman Jackson has issued a preliminary injunction preventing several actions that she determined would undermine the Consumer Financial Protection Bureau (CFPB). This decision comes in response to a lawsuit filed by the National Treasury Employees Union and other organizations challenging measures implemented by CFPB Acting Director Russell Vought under the Trump administration.  Court Ruling and Legal Justification  Judge Jackson’s 112-page opinion […]

CFPB Shifts Focus Away from Payday Lending Rule Enforcement 

The Consumer Financial Protection Bureau (CFPB) has announced that it will not prioritize enforcement of its regulation on payday, vehicle title, and certain high-cost installment loans, which is set to take effect on March 30, 2025.  Background on the Rule  Originally adopted in 2017, the rule was initially scheduled for implementation in 2019 but faced legal challenges that delayed its enforcement. A major court ruling in May 2024 upheld the […]

The Value vs. Cost Dilemma: Finding the Right Fee for a Collection Agency 

When selecting a third-party collection agency, one of the most debated topics is pricing. The temptation to choose the lowest contingency fee is strong—after all, higher fees cut into your bottom line. But is the lowest cost really the best value? The answer lies in understanding the balance between cost, performance, compliance and expectations.  The Illusion of the Lowest Fee  It’s natural to gravitate toward the agency offering the lowest […]

FTC Shuts Down Click Profit: A Business Opportunity Scam That Cost Consumers Millions 

The Federal Trade Commission (FTC) has taken action against Click Profit, a business opportunity scheme that allegedly misled consumers with false promises of substantial passive income through online sales. A federal court has temporarily halted the operation, which is accused of defrauding consumers out of millions of dollars.  Deceptive Promises and False Claims  According to the FTC’s complaint, Click Profit and its operators enticed consumers by advertising an artificial intelligence-driven […]

Congressional Subcommittee Examines Consumer Financial Protection Reforms 

The House Subcommittee on Financial Institutions is set to review the current legal and regulatory framework for federal consumer protection in an upcoming hearing on March 26 at 10 a.m. ET. Titled “A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections,” the hearing will evaluate several proposed reforms that could reshape the Consumer Financial Protection Bureau (CFPB) by focusing on funding mechanisms, oversight, and regulatory authority.   Key […]

The High Cost of Repossession: Why No One Wins

Imagine if customers truly understood what life would be like without their car. What if, for just one day, they tracked every time they relied on it—commuting to work, running errands, picking up children, or attending appointments? For many, especially those in areas without reliable public transportation, losing a vehicle isn’t just an inconvenience—it’s a crisis.  Unfortunately, this reality often doesn’t sink in until it’s too late. That’s when the […]

The Antelope Theory 

In The Plastic Owl, Bev Evancic discussed the importance of identifying new employees early to ensure they do not become a Plastic Owl. Now, I want to introduce The Antelope Theory, which helps truly understand who you’ve hired once they join your organization.  The Antelope Instinct   If you think about an antelope, what is its first instinct when approached by a lion? It runs.  If a lion approaches at night? […]