Collection Agency Creates Hotline to Discourage Adverse Collection Calls

Because of the remote possibility that a debtor has not received the expected results gained from a debt collection agent’s communication, Anderson Crenshaw and Associates’s management have put into effect a hotline that a debtor may utilize in this event.  Within 72 hours a representative of our company will direct the caller to the proper member of management and address the issue/claim that has been proposed.

The importance of debt collecting and its imperative function is many times overlooked. There is a great economic aspect to collections that many Americans are not aware of, which is that the collection of debt keeps prices lower.  According to global advisory firm PricewaterhouseCoopers, “Value of Third-Party Debt Collection to the U.S. Economy: Survey and Analysis”, based on a national survey of third-party debt collection firms, the action of collecting debt is saving the average American household $351.  Studies have also shown that in 2005, $141 billion of bad debt had accumulated for private business that had extended credit to their customers.  The debt collection industry returned $39 billion of that debt back to business, thus reducing said bad debt by 22 percent.  These returns are essential in helping keep the American economy afloat as well as helping to keep reasonable prices for the customers who pay their bills.

The collection of debt not only keeps prices down, but also reduces the threat of small business bankruptcy and allows for the expansion of established businesses.  It is essential that collection agencies exists to assist in keeping our American economy afloat and our businesses thriving.

The hotline’s purpose is twofold:  to provide a streamlined investigative tool to evaluate alleged instances which may occur between the collection agent and the debtor which may not represent the high ethical and professional standards and procedures that exemplify Anderson Crenshaw and Associates, and; to provide the debtor with a ready avenue to address any concerns or fears the debtor may have so that his/her debt may be resolved.