Monday, December 28, 2015

Weekly Quote

"Believing in yourself is an attitude."

Monday, December 21, 2015

Weekly Quote

"Winners never quit and quitters never win."   Vince Lombardi

Monday, December 14, 2015

Weekly Quote

"Knowing yourself is the beginning of all wisdom."  Aristotle

Monday, December 7, 2015

Weekly Quote

"Success attracts success and failure attracts failure because of the law of harmonious attraction."  Dale Carnegie

Tuesday, December 1, 2015

Weekly Quote

"Those who are quick to see their limitations generally are slow in seeing their opportunities."  Napoleon Hill

Monday, November 23, 2015

Weekly Quote

"Discipline is the bridge between goals and accomplishment."  Jim Rohn

Monday, November 16, 2015

Weekly Quote

"In the arena of human life, the honors and rewards fall to those who show their good qualities in action."   Aristotle

Monday, November 9, 2015

Weekly Quote

"An ounce of performance is worth pounds of promises." Mae West

Monday, November 2, 2015

Weekly Quote

“You may never know what results come of your actions, but if you do nothing, there will be no results.”    Mahatma Ghandi

Monday, October 26, 2015

Weekly Quote

"Quality is doing it right when no one is looking.”

Monday, October 19, 2015

Weekly Quote

"In this day and age, knowledge alone is not power, results are."

Monday, October 12, 2015

Weekly Quote

"Mistakes are the portals of discovery."  Christopher Columbus

Monday, October 5, 2015

Weekly Quote

"When you change the way you look at things, the things you look at change."    Dwayne Dyer

Monday, September 28, 2015

Weekly Quote

"Opportunity will not interest itself in the person who isn’t interested in it."  Napoleon Hill

Monday, September 21, 2015

Weekly Quote

"You don't get paid by the hour. You get paid for the value you bring to the hour.   Jim Rohn

Monday, September 14, 2015

Weekly Quote

"Experience is not what happens to a man; it is what a man does with what happens to him."   Aldous Huxley

Tuesday, September 8, 2015

Weekly Quote

“All men by nature desire knowledge.”   Aristolte

Monday, August 31, 2015

Weekly Quote

"We are handicapped by what we think we can't do"  Mark Twain

Monday, August 17, 2015

Weekly Quote

"Life has many different chapters; One bad chapter doesn't mean it's the end of the book."  Zig Ziglar

Monday, August 10, 2015

Weekly Quote

"Every day is a new beginning – never forget that."  Napoleon Hill

Monday, August 3, 2015

Weekly Quote

"Turn your stumbling blocks into stepping stones."

Monday, July 27, 2015

Weekly Quote

"The expression of the face is shown in the mirror. Soul is reflected in conversations."  Democritus

Monday, July 20, 2015

Weekly Quote

"You can do it, if you believe you can."   Napoleon Hill

Monday, July 13, 2015

Weekly Quote

"A small loan makes a debtor, a great one,a partner." Publius Syrus

Why the Collection Business is Finished: Can Anyone Collect Anymore?

Back in the day before the FCRA, collection agencies could do whatever they wanted to induce debtors to pay what they owed.  Archaic laws in some states, prevent claw-back, replevin and till taps.  Once you issue credit good luck if you do not get paid.

An owner of a collection agency told me a judge in Civil Court, New York County stated to the agency's client:  "Sir, when you go into business and give credit to others you can expect not to be paid by some".

Between that attitude from the court, the Regulators, FCRA, FDCPA, CFPB, GLBA and who knows what is next, people know they only have to pay if they want to.

Other notable events are box stores which cause many small businesses to close and of course eCommerce requiring payment before acquisition have dented the collection business. Commercial collectors are hurting the most because of these events.

Over-regulation and the new CFPB will ultimately cease collection activity, thereby driving businesses and credit grantors to stop issuing credit.

"Allowance for doubtful account" and "bad debt expense" will be so significant it could upset our tax system.  Thereby making extension of credit impossible it will cause lenders to simply write off bad debt rather than waste time and money attempting to collect what is due and owing.

The net result is a stagnating economy with stunted growth. Without liquidity economies can't function.
 

Monday, July 6, 2015

Weekly Quote

"I was smart enough to go through any door that opened."  Joan Rivers

Monday, June 29, 2015

Weekly Quote

"The people who are crazy enough to change the world, do."  Steve Jobs

Monday, June 22, 2015

Weekly Quote

"There are many who know many things, yet are lacking in wisdom."  Democritus

Monday, June 15, 2015

Weekly Quote

"Opportunity lets you put your foot inside the door of success, but it doesn’t break the door down for you."  Moraji R Desai

Monday, June 8, 2015

Weekly Quote

“Your attitude, not your aptitude, will determine your altitude.”  Zig Ziglar

Wednesday, June 3, 2015

Weekly Quote

"The best way to predict your future is to create it."

Monday, May 18, 2015

Weekly Quote

"The point is not in the fullness of knowledge, but the fullness of understanding."  Democritus

Monday, May 11, 2015

Weekly Quote

"The future is purchased by the present."  Samuel Johnson

Monday, May 4, 2015

Weekly Quote

“Remember that failure is an event, not a person.”    Zig Ziglar

Monday, April 27, 2015

Weekly Quote

"The only people who never fail are those who never try."   Galileo

Monday, April 20, 2015

Weekly Quote

"The only limit to our realization of tomorrow will be our doubts of today. Let us move forward with strong and active faith."   FDR

Monday, April 13, 2015

Weekly Quote

"If you focus on results, you will never change. If you focus on change, you will get results."  Sun Tzu

Monday, April 6, 2015

Weekly Quote

"Losers quit when they fail. Winners fail until they win"

Monday, March 30, 2015

Weekly Quote

"A positive mind finds a way it can be done. A negative mind looks for all the ways it can’t be done." Napoleon Hill

Monday, March 23, 2015

Weekly Quote

"Fear has two meanings: Forget Everything And Run or Face Everything And Rise. The choice is yours"  Zig Ziglar

Monday, March 16, 2015

Weekly Quote

"A problem is an opportunity to learn a new strategy."   Susan Nash

Monday, March 9, 2015

Weekly Quote

"You can make positive deposits in your own economy every day by reading and listening to positive, life changing content, and by associating with encouraging and hope building people."  Zig Ziglar

Monday, March 2, 2015

Weekly Quote

"You are today where your thoughts have brought you; you will be tomorrow where your thoughts take you."  James Allen

Monday, February 23, 2015

Weekly Quote

“Your future depends on what you do today."    Mahatma Gandhi

Monday, February 16, 2015

Weekly Quote

"The greatest part of our happiness or misery depends on our dispositions and not our circumstances."  George Washington 

Monday, February 9, 2015

Weekly Quote

"It doesn't matter if the glass is half empty or half full, be grateful that you have a glass, and there is something in it."    Friedrich von Schiller

Monday, February 2, 2015

Weekly Quote

"Be thankful for the bad things in your life. For they opened your eyes 
to the good things you weren't paying attention to before." Euripides

Monday, January 26, 2015

Weekly Quite

"You can think your way into or out of almost any circumstance, good or bad."   Napoleon Hill

Monday, January 19, 2015

Weekly Quote

"We may have all come on different ships, but we're in the same boat now."  Martin Luther King

Monday, January 12, 2015

Weekly Quote

"There are only two rules for being successful; one, figure out exactly what you want to do, and two, do it."  Mario Cuomo

Monday, January 5, 2015

Weekly Post

"What the New Year brings to you will depend a great deal on what you bring to the New Year." Franklin D Roosevelt