What's the outlook for 2024?

If your crystal ball is in the shop, check out this list of the top five debt collections trends for 2024.

We read all* the think pieces, listened to all* the webinars, and checked out all* the predictions for what 2024 might bring us, and here's what we heard:

1. Moving from "Are we doing digital outreach?" to "How can we use digital outreach to improve customer engagement?"
2. Now that we've all had our fun asking ChatGPT for new dad jokes, figuring out how to use AI to improve effectiveness and efficiency and not get left behind.
3. Keeping an eye on the CFPB - coming changes and continued enforcement (see the "Also noted" section below).
4. Are consumers overusing credit? Does that mean defaults are coming?
5. BNPL + medical debt shifts.

That should be enough to get you through your next round of small talk, but if you want a deeper dive into any of these, take a look here.

*Okay, maybe we didn't check them all out, but there sure were a lot.

Also noted:

InsideARM recaps the CFPB's 10 biggest fines and penalties from 2023.

If you want to know how to increase payments with SMS, you'll want to join this webinar with Nick Babinsky from Solutions by Text , Shantanu Gangal from Prodigal , and Justin Metacarpa from 2nd Order Solutions .