Even though it is a fact that professionals in managerial positions at collection companies should always be searching for more excellent workers to add to their ranks, they also must keep in mind that keeping the best employees around is crucial. These are the workers that have already proven themselves motivated and capable; often they are the hardest workers and bring home the biggest commissions. Trends in the collections industry have indicated that one way of doing this is allowing tenured collectors to work from home.

For these hard workers that have put much time and energy into improving your company, it might be a wise decision to accommodate for these people’s needs considering that the number of accounts that collectors receive nowadays might be smaller, thus reducing commission. Also, personal situations such as health, stress of a commute or a need to spend more time at home with the family might drive your top collectors away. Although work-at-home programs have not become an everyday thing yet, there are a few agencies that are currently making exceptions for particular debt collectors. Typically these collectors are the best at what they do and most likely deserve to work from home a couple of days a week.

The way that work-from-home programs operate is simple enough. Usually, the bill collector will be given a computer with access to the computers at the agency and they will be given designated phone equipment to use. One of the perks for agency managers is that everything that the collector does and says can still be monitored, just as if he or she was working in the call center itself.

However, before you start to send workers to work from home, it is important to closely evaluate the good and bad qualities of each collector. Obviously, the debt collectors with the best work ethics can be trusted to work from home more than the easily distracted ones. But, research has indicated that if a debt collector is a good fit for working at home, they will likely be more productive, take fewer breaks, and without the social interactions with other employees they are free to hone in on the job itself.

Still, there are a number of problems that should be addressed before management considers allowing collection agents to work at home. First, there is the potential of data security issues. Additionally, because of the fact that there has been a large amount of recent legislation impacting the collection industry, many formal work-at-home programs may not come to fruition anytime soon. Still, researchers feel that it is not good to alienate the top workers at your agency who are asking about working from home. They predict that the collections industry will see more agencies permitting debt collectors to work from home within the next five years.

Mallory Megan works for Rapid Recovery Solution and writes articles on new york collection agencies Also published at Debt Collectors Working From Home May Be A Reality In The Future.

Don\’t pay back family members. The thing is that they can not be treated any differently than other creditors. As far as the law is concerned, relatives have the same legal status as every creditor that you owe. Therefore, relatives can not be treated differently than all of the other places. I know that stinks, but it\’s the law.

Don\’t liquidate your retirement account! They are generally exempt property under the law regardless of what chapter you file, so it\’s unnecessary to do this. Some people liquidate and still owe giant amounts of debt, and if you withdraw these funds early that means you are liable for taxes and penalties which might not be discharged in the bankruptcy.

Don\’t transfer property out of your name before you file bankruptcy. This action can be undone if a fair price isn\’t received, or if it were made with intent to defraud, delay, or hinder a creditor. Friends and relatives fall into this category too.

Don\’t use your equity line of credit to pay off your debts. Under most federal and state laws, you do have the option to claim exemption for the your home equity. That way, you can go through bankruptcy and still be able to have this equity.

So basically, if you use your equity line to pay off debt or take out a second mortgage, you will basically be converting debt that would have been discharged in bankruptcy into debt which you will still need to pay so you can keep your home.

One Do: Always tell your lawyer the truth and let them fully know all of your concerns. Courts take their rules seriously and have the ability to file criminal charges if intention fraud is committed. And even if they don\’t go that far, they can refuse to discharge a particular debt, or simply dismiss the entire case.

Mallory McGuinness works for a debt collection company. Also, she writes stories on business and finance, consumer spending, and collection agencies Grab a totally unique version of this article from the Uber Article Directory