Regulation F provides some guidance to first-party and third-party collections on how to use social media as part of a digital recovery or debt collection strategy. But in recovery and collections, where even email has not yet been universally accepted or leveraged as a customer communication channel, few organizations use social media for debt collection effectively. Many of those same organizations struggle to see how they can use social media as part of a consumer preference strategy.
In this article, you'll find out how social media can be an effective consumer communication channel in your recovery / digital debt collection strategy. But first…
Why Should You Care about Social?
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