It is better that you should not vow than that you should vow and not pay.” Ecclesiastes 5:5

As can be seen from literature that is more than 2,200 years old, credit and its need to be collected has been part of humankind’s challenges for a very long time. Some societal issues aren’t new; they merely take on the different cultural and technological advancements of the time period.

Fast forward to 2014, and creditor and consumers appear to be in a constant battle of public perception. And while consumers and creditors have their fair share of proponents and opponents – the credit industry as a whole continues to serve a large purpose and important function of the American economy.

Educating both camps on the importance of improving the credit markets – from a creditor and consumer perspective – would go a long way toward returning to a level playing field. When responsible credit is both given and repaid the result is in an improved overall economy including lower interest rates, increased jobs and more disposable income.

On the creditor and debt collector side, education to help protect the creditor and the consumer can help to improve the environment that many times becomes contentious. The upcoming ARM-U training & networking seminar is another industry opportunity to share best practices in making compliance and operations work together seamlessly for the betterment of the industry.

2,200 years later Scottish philosopher Thomas Carlyle’s quote still rings true – “There are but two ways of paying debt: Increase of industry in raising income, increase of thrift in laying out.”

Mark Dobosz is Executive Director of the National Association of Retail Collection Attorneys (NARCA).


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insideARM.com’s ARM-U is a first-of-its-kind educational and networking seminar for senior compliance and operations professionals in the debt industry. No matter how you learn, how long you’ve been in the industry or how big your agency is, you need to know how to adapt to – not avoid – the evolving regulatory landscape. This is why ARM-U was formed.

Can’t make it to DC? You can still enroll as an online student and get live access to all of the panels and presentation via web simulcast. Simulcast proudly sponsored by NARCA. Register today.


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