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MAXImum [283]
3 years ago
13

You recently were hired as a front line debt collection agent for a debt collection service in Michigan. Your boss assigns you t

o a fairly new client. That client shares with you several items: account ledgers showing overdue balances, checks that "bounced" or were returned for insufficient funds, and a list of dates of purchases. Most of the purchases were made more than 6 years ago. Michigan has a six year statute of limitations for the collection of debt, meaning that after six years, one cannot successfully bring a lawsuit to recover old debt. You talk to your boss who instructs you to go ahead and contact the debtors with the standard letter that offers to settle the outstanding debt for 75% of the amount owed. The letter also indicated that failure to either accept the settlement offer within 20 days, or pay off the full amount after day 20 but before day 45, would result in the filing of a lawsuit to collect the debt. As a new collection agent, you know that the Fair Debt Collection Practices Act governs behavior in the industry. Explain why this requested behavior may violate the act.
Business
1 answer:
____ [38]3 years ago
3 0

Answer:

need

Explanation:

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Managers who establish effective goals can enhance the performance of their employees and of their company. The manager in the s
Marianna [84]

Answer: See explanation

Explanation:

a. Carlos’ goal is to reduce average loan processing by fifteen percent within the next 6 months. - Reviewed goal.

Reviewed goals has to do with the goals set by an individual when the individual takes into consideration the previously set goals and he or she reviews them. This is used by Carlos as he takes into consideration his previous average loan processing.

b. Michelle is a salesperson. Her goal is to increase the number of sales calls made to potential customers. - Relevant goal.

Relevant goal simply means that the goal must be realistic and also reasonable. In this scenario, Michelle wants to increase the number of calls regarding sales made to customers. This is reasonable.

c. Sam has been reviewing customer accounts at a rate of two per day. His goal is to double that rate. That is possible, but he’ll have to work hard and be creative to reach this goal. - Achievable goals.

Achievable goal simply means a goal that it's possible for an individual to achieve and it's attainable.

d. Chen has been given a project, and his manager clearly communicated the quantity and quality expectations to him. - Specific goals

A specific goal is a goal that is well defined and also clear. This can be seen in the above example.

e. Elizabeth has just been given a project which needs to be completed within 6 weeks. - Time frame goal.

Time frame goal is a goal that has a deadline and is expected to be finished within a set date. In this scenario, Elizabeth has six weeks to complete the said project.

f. Kelly is most excited about adopting goals because it means she’ll finally have a clear measure of how well she is doing. - Measurable goal.

A measurable goal is a goal that one tracks his or her progress as one continues the project. Kelly has a clear measure of how well she's doing. This is a measurable goal.

5 0
3 years ago
If a bank is offering a higher interest rate of return to investors, the MOST LIKELY impact on borrowers from the same bank is
umka21 [38]
The answer is D. An increased interest rate.
The bank will increase the interest rates on loans to get a return on their expenses.
5 0
3 years ago
A 180-day $3 million CD has a 4.25 percent annual rate quote. If you buy the CD, how much will you collect in 180 days?
Katarina [22]

Answer:

$3,063,750

Explanation:

A 180 day $3,000,000 CD

Annual rate = 4.25%

Collection in 180 days = ?

$3,000,000 * 4.25% * 180/360

= $3,000,000 *  0.02125

= $63,750

Total amount to collect after 180 days = $3,000,000 + $63,750

Total amount to collect after 180 days = $3,063,750

8 0
3 years ago
If the exchange rate for buying Japanese Yen is 12 Yens per Dollar, how many
GuDViN [60]

Answer:

2,400 Yens

Explanation:

exchange rate for buying Japanese Yen is 12 Yens per Dollar

1 dollar : 12 Yens

how many Yens do you need to buy 200 Dollars for?

Let

x = number of Yens needed

200 dollars : x Yens

Equate the ratios to find x

1 dollar : 12 Yens = 200 dollars : x Yens

1/12 = 200/x

Cross product

1 * x = 12 * 200

x = 2,400

x = number of Yens needed = 2,400 Yens

7 0
3 years ago
What is the great advantage of competitive markets?
andrew11 [14]
Prices are very cheap
6 0
3 years ago
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