Collection Boot Camp: Strategy for Success with a Collection Settlement Campaign (sponsored)

With tax season around the corner, now is the best time to consider a collection settlement campaign within your agency. Collection settlement campaigns (periods during the year when collection agencies offer a discount to consumers to collect on older or unresponsive accounts) can be a win-win solution for both you and your consumers.

A collection settlement campaign can help your agency to liquidate inventory more quickly, increase revenue for you and your clients, and increase the energy and morale on your collection floor. At the same time, your consumer gets a deal, reduces their debt, and has more money left over for other expenses.   

Collection Boot Camp panelist Shawn Suhr, CEO of Continental Credit Control, first learned of collection settlement campaign tactics from former California Association of Collectors’ (CAC) president Matt Logan. Since then, he has spent much time developing his own formula for running a successful collection settlement campaign within his agency. He shared his expert advice on the subject during the centennial CAC conference last October. Here are the best practices he proposed that can help your agency boost collection revenue.

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