We know scammers roam free on the web, and we know they use people's innocence to extort them for money. What's easier than calling people in a tough spot and get them to pay you money they don't really owe? It's an ugly phenomenon. It's also the reason why we always get our business customers to introduce us to their customers when a recovery process begins - there's so much to worry about, why have to worry whether you're being scammed? Turns out it doesn't stop there. Some of these scammers would rather not do the dirty work themselves, and they're looking for someone to do it for them. We never imagined it works that way in recovery services, so imagine our surprise when we got an email from a previously unknown connection, providing us with the details of a debtor and a debt and urging us to work on it. Pretty aggressively so, I must add. We won't disclose private information so there's not much we can say about Mr X, the alleged debtor. A quick investigation exposed the scammers, and we're hopeful that Mr X won't be troubled by fake collection calls. Given how easily his information was given, we're concerned it's not the last he'll hear from fake collectors. This case raises an important issue. People trade personal information too easily. Who knows where his customer's details got exposed; too many companies feel that consumers' information isn't worth protecting once they owe money. This couldn't be farther from the truth; if anything, sensitive information must be protected more rigorously when its discovery might embarrass consumers. Apparently, some players don't care and will use any chance they have to make a dime. Luckily, this time they emailed the wrong company. Finally, here are some words of advice: Contacted by a collector? Make sure you understand who that company is and how the debt was placed with them. One of the things we allow consumers to do in many cases is settle directly with their creditor, reducing their concern with paying us directly, before they get to know us. Got a suspicious email? Search for it online. Many scam catcher websites will warn you about common scams. If your identity was stolen or information about you is publicly available without your consent, it could be a violation of the law. Read about identity theft in the FTC's website, and be vigilant about sharing your information with risky websites. Did you get fake collection calls or emails? Tell us!  

Many businesses, especially web based ones, live and die by customer acquisition and growth. They invest money and time in new ways to attract new users to their service, while under investing and sometimes neglecting retention efforts. While growth is important, retaining customers is a much more profitable activity - active current customers spend more, and are more likely to use other services your offer. Within that group of current customers, customers who churn sometimes provide you with the most important feedback. Why do customers churn, and end up owing you money? There could be many reasons, and often times the least of which is some malicious intent on these customers' part. Some find that your product wasn't what they expected; some have billing issues; others had a negative service experience. What do you gain from talking to these customers? They are often your most vocal critics. While that criticism is hard to listen to or read, and sometimes even exaggerated, it stems from a genuinely bad experience. Each customer who's willing to talk to you represents dozens, maybe hundreds of others who disappear without saying a word. Listen to the content rather than the style, and you'll discover a plethora of relevant product and process feedback. They care. Some unhappy customers will pay your dues then disappear off your platform forever, without ever voicing their concerns. Some of your defaulted customers care enough, feel strongly enough, that they opt to not pay and get in trouble with you. Winning a customer like that back potentially wins you a strong brand advocate. They owe you money. Bottom line, there is revenue to be recovered by reconciling with churned customers. It starts with the money they owe you, but their life time value, if won back as customers, can provide much higher ROI on recovery activities than you may intially think. Approaching and reconciling with churned customers is an art and science. Follow our blog to learn more about how we do it!  

It was an early morning in the summer of 2012, and my phone rang. I didn't recognize the out-of-state number, and didn't pick up. I don't usually pick up unless I know who's calling. The next day, the same thing happened. In the following week I received a call every morning, each time from a different phone number. Eventually I picked up. We have an important message for you, said a robotic voice, please remain on the line. Unbelievable, they're calling me and I need to wait? Still, the calls would just continue. I stayed on the line. Within a minute I was already deep in conversation with a rude, aggressive debt collector who promptly notified that I have a late payment. I then realized why: I had forgotten to pay the balance for a card I had with one of the big retail chains. It happens, and luckily, I could afford to pay it. Not everyone can. I offered to pay with my credit card. No, said the person aggressively, that is not acceptable. I can use a debit card but that will cost me a $15 "convenience" fee. Heck, I'll just pay with a check, but I don't have my checks next to me. I'll pay later today, I told her. TODAY, she said, with an angry tone. Today, I accepted. That experience stayed with us when we started thinking about TrueAccord. Why not treat people with respect? Why subject them to robotic callers and hidden fees? Why not offer convenient, flexible ways to pay? That rude collector and the negative experience I underwent simply due to forgetting a payment has spawned a business plan. We can do better. We can help businesses get paid without creating alienation between them and their customers, and we can bring back feedback on what doesn't work and why disgruntled ex-customers are reluctant to settle a debt. We can help debtors settle without pushing them down more or making them feel disrespected. The result is what you see here. If you got an email from us, you can count on us to work with you. Debts aren't fun, but you don't want to disregard them either. We'll be fair with you, but walk you in a path that ends with your obligations met. We view it as our mission to make you successful and make sure your voice is heard. Welcome to TrueAccord!