Debt Buyers Association International Hosts 20th Annual Conference

Debt Buyers Association International pic

Debt Buyers Association International
Image: dbainternational.org

Located in Lombard, Illinois, Asset Recovery Associates, Inc. is a debt consolidation firm that specializes in accounts receivable management and consumer debt recovery. Since April 2012, Asset Recovery Associates, Inc. has maintained membership with Debt Buyers Association (DBA) International.

Established in 1997, DBA International is a nonprofit trade organization that represents more than 575 companies that work in financial services fields, such as collection agencies, debt buying firms, and law firms. It offers its members networking, educational, and business development opportunities at a variety of events.

One of the events sponsored by DBA International is its annual conference, with the 2017 conference scheduled for February 7 through 9 at the Aria Resort and Casino in Las Vegas, Nevada. Now in its 20th year, this conference gives attendees a chance to meet current clients, establish new ones, and create new business opportunities. Typically attracting more than 1,100 attendees, the annual conference highlights more than 100 exhibitors that work in the debt buying industry. Attendees also have an opportunity to garner a total of 16 continuing education (CE) credits during the three-day event.

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What Happens to Bills in Collection

 

Asset Recovery Associates pic


Image: arainc.us

At Asset Recovery Associates, a team of professional collections agents work to resolve debts and achieve mutually acceptable results. Asset Recovery Associates strives to ensure that all parties, including debtors, understand the collections process.

When an unpaid bill goes into collection, it usually means that the original creditor has attempted on several occasions to secure the owed funds. After failing to do so, the creditor either assigns or sells the debt to a third-party organization. Such organizations dedicate their staff and resources to locating debtors and securing payments.

Collection agencies report debts to credit bureaus, but it may take 30 days for this to happen. Agencies and experts suggest that repayment before the end of this grace period is best for the debtor’s overall credit score.

If the debtor cannot pay the total amount upfront, the collection agency will typically work with him or her to determine a payment plan. Experts suggest that debtors cooperate with these efforts to avoid a lawsuit, particularly if a debtor has assets or an income that a court judgment could put at risk. Any and all agreements should be in writing and specific to the situation so as to protect the interests of all involved.