James Hill Jr. spoke to students about the accounts receivable management industry in an ethics class at Marquette University in Milwaukee, Wisconsin.
03/07/2024 2:20 P.M.
2 minute read
In February, James Hill Jr., president of Account Resolution Corporation in Chesterfield, Missouri, was invited to speak to a class at Marquette University in Milwaukee, Wisconsin, on ethical situations faced in the accounts receivable management industry.
Marquette University developed the class, “Legal and Ethical Environment of Business,” six years ago for upperclassmen to address the perceived need for added legal and ethics education for business majors.
Hill presented the ethics class with two scenarios to discuss:
- Should medical debt be included on a consumer’s credit report? Hill said the class overwhelmingly decided yes, it should. “They kept coming back to the fact that if you don’t list medical debts, what is the point and why list anything?” Hill said.
- Should you settle an account for 90% of the balance due when your client authorized you to go to 75%? “We talked about what was in the best interest of the consumer and what was in the best interest of the client,” Hill said. “Three-fourths of the class said SIF in a manner that is best for the company and ultimately for the consumer because creditors need funds. And then 25% said it would be better to go immediately to the best SIF for consumer.”
Hill said the discussions went so well that the professor asked him to teach a second class.
“It was a great dialogue and I really enjoyed it,” Hill said. “I was impressed by how much the students were able to get a working knowledge of the collection industry. The professor was a former vice president of Emory Healthcare and vice chair the Department of Radiology Emory School of Medicine, so he had some great real-world comments.”
Financial Literacy Resources
Heads up! April is Financial Literacy Month and ACA International has resources for members to support consumer education on topics such as identity theft, scams and incorrect information on credit reports. You can include the link to our Know My Debt website on your agency’s home page and give it to collectors to share with consumers.
Linking to vetted financial literacy resources on your website helps consumers find the critical information they need to feel comfortable talking to your company representatives.
Visit the Know My Debt website to learn more.
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