Tag: check cashers


Collection Strategy No-No for PaydayLoans, Car Title & Check Cashers

Collection Strategy No-No for PaydayLoans, Car Title & Check Cashers

In our industry, you’d better “get” collections. Comprehending Federal and state collection practices are crucial to us. After all, we’re really a “collections business.”

So… if you get anything out of this short Blog let it be this:

Bottom line, DO NOT CALL your customer at their employer once you’re told it’s unacceptable.

Case in point, a West Virginia resident Woman sues over collection calls at work

A  West Virginia woman claims she suffered “humiliation, embarrassment, mental anguish and emotional distress after a debt collection agency repeatedly called her at her work.”

Amy Wellman filed a lawsuit Feb. 3, 2010 in U.S. District Court for the Northern District of West Virginia against Martin and Seibert .

Wellman claims she began receiving phone calls from Martin and Seibert regarding collection for her debt in July 2009.

“When Plaintiff was first contacted by a representative of Defendant at Plaintiff’s place of employment, she requested that the Defendant cease placing telephone calls to her place of employment regarding the alleged debt,” the suit states. “Despite her request, Plaintiff continued to receive telephone calls from Defendant’s representatives at her place of employment. Plaintiff often hung up the phone on such occasions, but Defendant’s representatives would call back immediately thereafter. On numerous occasions Plaintiff reiterated to Defendant’s representatives her request not to be called at work too often explaining that calls of such a nature were not allowed by her employer.”

Wellman claims Martin and Seibert violated the Fair Debt Collection Practices Act and the West Virginia Consumer Credit and Protection Act by communicating with her at her place of employment and by continuing to call her with an intent to annoy and harass her.

In the two-count suit, Wellman seeks actual and compensatory damages, statutory damages of $1,000 for each violation of the FDCPA, attorney’s fees, costs and other relief the court deems just.

U.S. District Court case number: 10-CV-5

Just imagine this strategy being used by you in your business and a friendly class action lawyer getting a hold of you?

Don’t do it! Did you read our previous “Text Messaging Article?” There are plenty of methods you can employ to perform your collection efforts. Educate yourself and your team. Proper collections activities are micro-lending 101.


Time to Use the Power of Text in Marketing and Collections for Payday Loan, Car Title…

It’s time to use the Power of Text in Marketing and Collections for Payday Loan, Car Title, Check Cashers, Pawn & More

Here is the how and why Text Messaging can help your Collection efforts INCREASE up to 25% or more and your payment defaults DECREASE by about 40%, as well as generate new leads and create repeat customers.

Our payday loan customers are inundated with “noise” from competitors and others screaming at them for their attention. Print, radio, TV, email, direct mail, billboards, phone calls, magazines… on and on and on. Every company in the micro-lending space is focused on our customer.

Now, it’s “Text Messaging” referred to as SMS. The explosion of cell phone use has brought the newest marketing and collection channel to us.

Personal cell phone use has become essential to virtually EVERYONE. All of us rely on our mobile device!

Mobile text messaging can connect you to your customer. Mobile text messaging offers a powerful alternative to all the other marketing strategies.

Those of us in the micro-lending space, that includes payday loans, car title lending, scrap gold buying, check cashing, rapid tax refunds, etc., must enter this mobile marketing and mobile collecting arena to communicate with our customers immediately.

The heaviest users of SMS are ages 18-34 at 80% and 35 -49 at 63%. Those are our demographics! 97% of all text messages are read!

So, what’s this all mean to us? INSTANT COMMUNICATION! SMS dwarfs all other features on a cell phone today!!

Reach your customer anytime and anywhere, with the Power of Text.

Why is Text Messaging SMS so successful?
More than 265 MILLION Mobile Phone Users
Easy to use
Available on 99% of all cell phones
Everyone has a phone
Direct link to your customer
Able to launch a web page
Specifically target messages to your customer
Messages to your customer are permission based; CAN-SPAM Compliant
Your customer can act on your message instantly
Present your customer with a coupon
Remind them of a payment due
Contest announcements
Announcements of sales, promotions and events


Text messaging is personal
Cell phone users keep their phones with them ALL THE TIME
90% of Text Messages are read within 8 MINUTES!
Bulk SMS is economical and you can send thousands of text messages to consumers at wholesale rates
One SMS message can be created and sent to a large group of customers
Tracking of SMS delivery and customer response is simple

It’s not uncommon to improve your collection efforts 25% or more by using SMS

A 40% increase in “on-time” payments is possible by using SMS to notify customers of their upcoming payments and appointments.

Transparent integration with your software is easy or you can use a web-based gateway.

Are you ready for more info to learn how you can get instantaneous communication with your customer AND increase your collection results?