Collector - July/Aug 2021 - 19

The future of small businesses in the
accounts receivable management (ARM)
industry is bright in many ways. Technology
that was previously too expensive and
unwieldy for smaller companies can now be
purchased at scale. Lessons learned during
the pandemic have helped companies
become even more flexible and adaptable.
At the same time, it's still tough out there,
particularly because small businesses face all
the compliance and litigation risks of their
larger peers, but without the cash reserves to
defend themselves against meritless claims.
ACA members include the smallest of
businesses that operate within a limited
geographic range of a single state, as well
as the largest publicly held multinational
corporations that operate in every state.
The majority of ACA member debt
collection companies, however, are small
businesses, with nearly 85% maintaining
fewer than 49 employees and 44% with
fewer than nine employees.
New ACA International President Kevin
Baich-who is the vice president of Day
Knight & Associates in Ballwin, Missouri-found
himself facing a difficult situation
in 2018, when his small business of
13 employees sent a validation notice to a
consumer who had filed bankruptcy.
" The consumer didn't show up in our
bankruptcy scrub, " Baich said. " The consumer's
attorney did send a notice to our
client, but it was sent to an old address for
the client, so they never received it. When
the consumer received our notice, they
called and told us they'd filed bankruptcy,
so we closed the file. "
Nevertheless, the consumer sued Day
Knight & Associates, and Baich had to
decide how to proceed.
" I thought it was crazy, " Baich said. " I
knew if we settled, this guy was going to
come after us again and again and again. But
it didn't make financial sense to fight it. " '
ACA's Industry Advancement Fund
provides direct financial support to members
to help combat frivolous litigation. The
Judicial Advocacy Program provides up to
$25,000 in support for ACA members in
cases of industry-wide significance.
Photos by Barlow Productions
JULY/AUGUST 2021
19

Collector - July/Aug 2021

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Collector - July/Aug 2021 - Cover1
Collector - July/Aug 2021 - Cover2
Collector - July/Aug 2021 - 1
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