Updated content on the Know My Debt website gives consumers solid financial literacy skills and explains how the accounts receivable management industry can help them manage their debts.
07/20/2022 10:30 A.M.
2.5 minute read
One of ACA International’s most popular consumer education resources, the Know My Debt website, now features freshly updated content on topics such as identity theft, call frequency and credit reports. You can include the link to Know My Debt on your agency’s home page and give it to collectors to share with consumers.
Developed and recently updated by ACA’s Financial Literacy Committee, Know My Debt delivers clearly worded explanations to help consumers improve their financial literacy and resolve their debts.
By including links to vetted financial literacy resources on your website, you can help consumers find the critical information they need to feel comfortable talking to your company’s representatives.
Many ACA members are using the new Know My Debt consumer education site to enhance the ways they serve consumers and, ultimately, clients.
“As we know, consumer debt is the common bond amongst us. We all encounter consumers acting off of misinformation about debt, their credit, and payment plans, for example,” said LaDonna Bohling, chief compliance officer for Contract Callers Inc., in a Collector magazine article. “Some websites are a front for signing up for a credit monitoring service or credit cards—all things that lure in the least sophisticated consumer. We refer consumers to Know My Debt because it communicates information on topics that consumers need, such as understanding their rights when communicating with a debt collector and planning their financial future, in clear terms.”
Why should you add Know My Debt to your website? Because it clearly explains:
- The laws and regulations related to debt and credit that protects consumers.
- How to work with a debt collector on delinquent debts, including specific explanations for student loan debt.
- Answers to common questions about credit reporting and credit scores.
When creating a link on your website, ACA recommends calling it Know My Debt: Explaining Consumer Rights and Navigating Debt Solutions.
“Know My Debt is very impactful and a great resource for our businesses and our staff,” said Debbie Frank, CEO of Credit Bureau Services LLC and chair of ACA’s Financial Literacy Committee. “Everyone is on a financial journey and Know My Debt is here to guide, inspire and engage people when making decisions about their money and planning for their financial future.”
Including a link to Know My Debt on your website, and encouraging your collectors to refer consumers to it in their phone conversations, ultimately builds confidence in the debt collection process.
Visit the Know My Debt website to learn more about these valuable resources.
Note: Make sure your website information is up to date! Remove any existing references to ACA’s old consumer literacy website, Ask Doctor Debt (www.askdoctordebt.com), which is no longer online.
If you have executive leadership updates or other member news to share with ACA, contact our communications department at [email protected]. View our publications page for more information and our news submission guidelines here.
