This article was written by Jeffery Hartman and originally published on Forbes Jan 13, 2020,Financial Council , about the Collection Automation in the receivables management industry.
Due to technology, operating a debt collection business from home has become easier than ever before. Modern communication tools allow contact with clients and receipt and storage of data and files without hefty mail and travel expenses. However, creating and running a successful home-based debt collection business still requires time and planning.
I have been involved with the debt collection business for about a decade. A majority of my work has been in purchasing and reselling charged-off consumer debts, as well as outsourcing collections. Based on my experience in the industry, below are some tips and key considerations when creating a collections agency from home.