Automatic dialing technology strengthens loan recoveries

Article Abstract:

Outbound call center technology has been a tremendous boost for the Student Loan Marketing Assn. (Sallie Mae). As a result of this technology, the agency has reported significant increases in productivity and savings in labor cost. Moreover, it has been able to implement a new strategy in collecting delinquent loans. Sallie Mae has been able to handle many student loans in a fast and efficient manner without losing the flexibility it needs to approach different cases. The strategy requires the assignment of cases into either the predicting dialing category or the preview dialing category. This frees up the collections agents to spend more time talking to clients. Before, they were too busy finding the necessary data about the clients that they hardly talked to the client. All these improvements have enabled the agency to increase the funds it recovers by as much as 250%.

Management, Innovations, Information management, Collection (Accounting), Student loans, SLM Corp.

---

Know the rules and use the tools during National Consumer Protection Week

Article Abstract:

The National Consumer Protection Week (NCPW), held on Feb 1 to 6, 1999, focused on consumer protection and education. During the celebration, advocates emphasized to consumers that they can protect themselves against credit fraud if they Know the Rules and Use the Tools, which is also the theme of the event. Organizers decided to focus the first annual NCPW on credit fraud because it has become a perennial problem for many consumers, can take the form of deceptive lending practices, stolen credit cards, assumed credit identities, and advance-fee loan hoaxes. Advances in technology have also made it easier for unscrupulous elements to perpetrate fraud. It is hoped that NCPW has helped consumers become more adept at credit management and more aware of credit fraud.

Evaluation, Consumer protection, Prevention, Consumer education, Commercial credit fraud

---

The Telephone Consumer Protection Act

Article Abstract:

The Telephone Consumer Protection Act became effective on Dec 20, 1992 following an earlier announcement of rulings by the FCC. Among the provisions of the legislation include the maintenance of a company-specific do-not-call list that will indicate parties that have expressed their wish not to be contacted further by telemarketers. Also, a fixed schedule of calling up consumers was set between 8 AM and 9 PM, while the use of Automated Dialing Recorded Message Players was banned. Calls that endanger the health and safety of consumers and that charge the caller are likewise disallowed. Unsolicited calls to facsimile machines are also prohibited. These regulations are favorably accepted by telemarketers as they are seen to improve the image of the industry.

Laws, regulations and rules, Telemarketing, Automated dialing, Automatic dialers, Predictive dialing

Similar abstracts:

• Abstracts: Educating entrepeneurs: looking at universities. International Study Program
• Abstracts: Card technology & growth: a marriage made in credit heaven. A view to the past, a vision to the future. Future speak: what lies ahead for consumer credit?
• Abstracts: Soaring toward achievement: a vision of ICA's future. ICA responds to soaring health insurance costs. A message from your chairman
• Abstracts: Alternative strategies in retailer & consumer product company loan defaults. Creating a modern credit approval environment
• Abstracts: Advancing your career in credit. Enforcement and education impact consumer fraud

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.