Ken Wargo began his career in collections in 1999. He was born in California, and moved to Illinois to start his career. Between 1999 and 2002, he worked for Risk Management Alternatives as a collector and gained experience as a supervisor, trainer, and team developer. He has worked for multiple companies as a collector and he has spent years developing his knowledge and experience. There are numerous collections agencies that operate in the United States.
There are many people who use credit cards, take out loans, and have outstanding bills. If these individuals miss multiple payments, their debt may be sent to a collections agency. In some cases, the bank that owned the original debt may have given up on regaining their money, and therefore sold the debt to a collector. The collector will then reach out to the debtor in an attempt to obtain the funds.
Opening a collection agency can be a profitable business choice. Individuals who work as collectors play an important role in the process. Collectors are the individuals who reach out to the debtors. They may call or send letters to the debtors. Their goal is to get payments from the debtors. It can be helpful for these professionals to have a strong knowledge of their states’ collection laws. Most states have a set of regulations and guidelines that collectors must follow. Collectors can learn these regulations through training and experience.
Collectors can work with several different types of accounts. Some may work with student loan providers, while others may work with credit card companies. Other collectors may choose to work with independent collections agencies that purchase debts from other companies. Ken Wargo worked in collections for many years and handled medical bills, student loans, and more. He worked his way up through the field and gained experience in team building and management.
Sources:
http://www.nytimes.com/interactive/2014/08/15/magazine/bad-paper-debt-collector.html?_r=0
https://www.privacyrights.org/fs/fs27plus.htm#Wisconsin
There are many people who use credit cards, take out loans, and have outstanding bills. If these individuals miss multiple payments, their debt may be sent to a collections agency. In some cases, the bank that owned the original debt may have given up on regaining their money, and therefore sold the debt to a collector. The collector will then reach out to the debtor in an attempt to obtain the funds.
Opening a collection agency can be a profitable business choice. Individuals who work as collectors play an important role in the process. Collectors are the individuals who reach out to the debtors. They may call or send letters to the debtors. Their goal is to get payments from the debtors. It can be helpful for these professionals to have a strong knowledge of their states’ collection laws. Most states have a set of regulations and guidelines that collectors must follow. Collectors can learn these regulations through training and experience.
Collectors can work with several different types of accounts. Some may work with student loan providers, while others may work with credit card companies. Other collectors may choose to work with independent collections agencies that purchase debts from other companies. Ken Wargo worked in collections for many years and handled medical bills, student loans, and more. He worked his way up through the field and gained experience in team building and management.
Sources:
http://www.nytimes.com/interactive/2014/08/15/magazine/bad-paper-debt-collector.html?_r=0
https://www.privacyrights.org/fs/fs27plus.htm#Wisconsin