This is the second post in a new blog series highlighting the importance of text messaging for debt collections and what ARM businesses need to stay compliant. For third-party debt collectors, texting can be a scary proposition. Overlapping requirements and...
Text messaging for debt collections might seem like a bridge too far. But it’s entirely within reach today.
3 Reasons Why Text Messaging Is Essential for Collections and ARM Industry Success
1. The World Has Gone Mobile
2. Texting Offers Unparalleled Advantages
“You’re in trouble with a credit card. You’re behind, and the company keeps chasing you with letters and calls, which you stopped trying to deal with weeks back. It’s 89 days in of the 90-day window before things go to a deeper level of seriousness.
And then you get a text, which you answer. And before long, you have come to an arrangement with the finance company you were too stressed out/ashamed/embarrassed to call back.”
3. Texting Technology Can Simplify Compliance Management
If You Plan to Text, You Won’t Want to Miss These RMAI Sessions
- The New World Order—Communicating with Consumers via Email and Text—What You Need to Know (with Mike Cantrell, Solutions By Text): Wednesday, February 5, 3:00–3:50 p.m., Juniper 2
- Current Issues in Receivables Management (with Tomio Narita, Simmonds & Narita LLP, and Jackson Walker, Resurgent Capital Services): Thursday, February 6, 9:00–10:50 a.m., Juniper 2
Disclaimer: Ontario Systems is a technology company and provides this blog article solely for general informational and marketing purposes. You should not rely on the content of this material for any other purpose or as specific guidance for your company. Ontario Systems’ advice, services, tools and products described herein do not guarantee compliance with any law or industry standard. You are ultimately responsible for your own company’s actions and compliance efforts. Because everyone’s situation is different, you must consult your own attorneys, accountants, and/or other advisors to obtain specific advice on your company’s compliance, legal, tax, regulatory and/or other business needs. Despite Ontario Systems’ efforts to provide current and up-to-date information, you need to recognize that the information contained herein may become outdated quickly and may contain errors and/or other inaccuracies.
© 2020 Ontario Systems, LLC. All rights reserved. Information contained in this document is subject to change. Reproduction of this publication is not permitted without the express permission of Ontario Systems, LLC.
Ready to Text in 2020?
Text messaging for collections is complicated. It’s also mission critical. Our brief ARM industry texting guide, newly updated for 2020, has the insights and advice you need to get your digital communications program up and running.
Don’t get left behind. Download your copy today!
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