As Move in Date Approaches, Student Housing in the News

Posted by Ryan Howard on Jul 21, 2017 5:11:05 PM

The end of July means that the fall move-in dates are fast approaching for property managers of student or on campus housing. If you're considering renting to students or simply curious of the vast differences in renting to conventional tenants versus students, subscribe to the BYL Collections blog and read on to learn the latest news in the student housing market. At the end of the post, we'll also offer social media accounts to follow to stay on top of campus news. 

Read more Student and Campus Housing in the News.

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Topics: Property Management, Student Housing

Debt Collections with a Human Touch

Posted by Ryan Howard on Jul 14, 2017 5:30:48 PM

Call nearly any customer service number and there will be an option to resolve everything through an automated system. Amazon has created a grocery store concept where a consumer can complete their entire transaction without any contact from another human. A recent USA Today article stated that as more consumers are used to self-service, perhaps debt collections may one day be entirely digital as well. While some proponents say a fully computerized debt collector may cut down on abusive practices, we see things a little differently.

At BYL Collections, we prefer debt collections with a human touch and here's why.

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Topics: Collections Vendor, Debt Collection Vendor, Customer service

DRTV: Infomercials need Collections too

Posted by Ryan Howard on Jul 3, 2017 2:49:31 PM

Turn on the TV in the middle of the night or any time on certain channels and you'll see an infomercial touting everything from the latest fitness craze to the best gadgets for your kitchen. Known in the industry as Direct Response TV (a form of direct response marketing), these short and long form commercials create awareness around a product and ask the consumer to respond by purchasing directly from the company via phone or website. Often, the consumer makes a few affordable payments to own the product.


If a customer stops paying on their "as seen on TV" products, direct response retailers still have options to collect.

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Topics: Debt Collection, Small Business

What is the difference between Consumer and Commercial Collections?

Posted by Ryan Howard on Jun 22, 2017 7:00:00 AM

All collection agencies are the same, right? 


Collections agencies can be different in many ways including industry specialization and how they charge, not to mention customer service, transparency, and collection tactics. Some agencies may even choose to separate consumer collections from commercial collections, such as our spin off of Enterprise Recovery, because the collection processes and regulations are so drastically different. Depending on the client needs, one agency could be a better fit than others. 


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Topics: Debt Collection Vendor, B2B Collections

Understanding Millennials and Debt

Posted by Ryan Howard on Jun 16, 2017 12:09:49 PM

Creditors and businesses marketing to millennials need to understand that their relationship with cash, credit and debt is drastically different than boomers or generation X. The millennial generation went to high school or otherwise entered the workforce being told they needed a college degree to succeed in life. After all, that's how two generations before them ventured into adulthood. Students borrowed money with the promise of a great career and life. Then, there was a recession...

Millennials are charting a new course when it comes to managing Debt.

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Topics: Debt Collection, Rent Collection, Credit

How to Pay Bills with Little Money

Posted by Ryan Howard on Jun 1, 2017 3:12:07 PM

When money's tight, it's easy to fall into analysis paralysis and choose to ignore incoming bills. Unopened bills pile up, eviction notices, shut-off notices, and endless phone calls from debt collectors cause more stress. The shame of trying to feed a family on little to no money leads to relationship difficulties, medical problems, and an increase in drug or alcohol abuse. When there isn't enough money to cover the bills, when living paycheck to paycheck, poverty feels just a step away. 

Here are steps to manage the money you do have and continue to pay your bills on time.

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Topics: Money Management

How Rent Collection Varies by Conventional Housing vs. Student Housing

Posted by Ryan Howard on May 26, 2017 7:57:00 AM

If you're considering investing in real estate and live within the vicinity of a college campus, you may choose to become a property manager of student housing. National Real Estate Investor reported that student housing continues to outperform the rest of the market, with $1.1 billion in properties bought or sold during the first quarter of 2016. Maybe you're already a landlord and are considering moving away from student housing to more conventional housing? 

There are important differences to note between student housing and conventional housing. One of the most noteworthy? Rent collection.

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Topics: Property Management, Rent Collection, Student Housing

Guide to Finding a Local Collection Agency Near Me

Posted by Ryan Howard on May 19, 2017 10:20:30 AM

When searching for a debt collections agency, many businesses will turn to internet search engines and use the terms "local collections agency" or "collection agency near me". An agency that is located in the same geographic area as the business makes sense, as one of the qualifications of a good debt collections agency is state licensing. Licensing can be drastically different in each state and many require agencies are to be licensed in the state in which they are collecting.

Although finding a local debt collections agency is a good idea, there are valid reasons for finding a partner who is licensed nationally. 

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Topics: Debt Collection Vendor

Legal Tactics Often Used By Debt Collectors

Posted by Ryan Howard on May 9, 2017 5:34:02 PM

One of the questions asked most often by our clients is, "What debt collection tactics do you use?" This is a very good question and typically reveals that the client has some idea about consumer rights and protections. Many of the posts on this blog dive deep into FDCPA violations and how consumers can work with fair and non-abusive debt collectors. At BYL, we want to treat clients and their customers the way we'd like to be treated. Even still, some debt collection tactics may seem shadier than others. 

Here are Legal tactics most often used by debt collectors.

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Topics: Debt Collection, Customer service, TCPA

The Best Way To Improve Your Credit Score

Posted by Ryan Howard on Apr 28, 2017 10:10:03 AM

Credit scoring determines if you get a loan for a house, a car, or any other major purchase. Based on your past behavior with credit purchases and paying those debts, your credit score could also determine if lenders or creditors will trust you and, if not, charge you deposits or higher interest rates. Your credit, spending and payback history can't be erased so trying to improve your credit score may seem impossible. Ready for some good news?

Improving your credit score is possible with consistent effort and new changes from credit reporting bureaus.

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Topics: Money Management, Credit