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Bankruptcy inquiries in the U.S. surged to their highest levels in five years during the first quarter of 2025, signaling a potential increase in filings this summer, according to data published last week by LegalShield. The data highlights the growing financial strain on households, with mounting debt, rising delinquencies, and inflationary pressures due to tariffs contributing to an impending wave of bankruptcies.
Business debt in the U.S. has surged over the past five yearsfueled by pandemic disruptions, stimulus borrowing, and a volatile interest rate environment. As refinancing costs rise and payment behavior worsens, companies face mounting financial pressure across sectors. This roundup captures the most important statistics and trends shaping the commercial debt landscape in 2025.
A bill has been introduced in the Senate by the chairman of the Senate Banking Committee that would expand the types of bills and debts that credit reporting agencies would use to determine consumers’ credit scores, with the objective of helping individuals considered to be “credit invisible.” S. 1465, the Credit Access and Inclusion Act, was introduced last week by Sen.
Claimants are struggling to recover Unpaid CCJs in England and Wales due to justice system failures. A body chaired by a Senior Judge has found that the CCj Enforcement is “extremely slow and ineffective” The Civil Justice Council (CJC) is chaired by Sir Geoffrey Vos and he warned that Businesses and private individuals are facing “very significant delays” in recovering what they are owed despite having CCJs awarded in the County Court.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Late payments are a growing challenge for businesses, with increasing economic uncertainty amplifying the risks associated with cash flow disruptions. In an exclusive new survey, The Kaplan Group reveals a striking trend: companies that outsource more overdue invoices to collection agencies experience substantially higher recovery success. The survey was conducted among 100 financial decision makers, including CFOs, VPs of finance, controllers, and directors of finance, representing businesses w
Credit card debt can be a huge burden on families and individuals. Many people rely on credit cards for everyday purchases, and sometimes it’s easy to spend more than planned. The end result can be a frightening mountain of debt that seems impossible to overcome. Fortunately, there are ways to achieve credit cards debt relief, and were here to help guide you through it.
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Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Credit card debt can be a huge burden on families and individuals. Many people rely on credit cards for everyday purchases, and sometimes it’s easy to spend more than planned. The end result can be a frightening mountain of debt that seems impossible to overcome. Fortunately, there are ways to achieve credit cards debt relief, and were here to help guide you through it.
APRIL 15 UPDATE: FCC GRANTS ACAS PETITION TO EXTEND EFFECTIVE DATE On April 7, 2025, the Federal Communications Commission FCC issued an order granting a limited waiver that extends the effective date for a full yearto April 11, 2026 of the revocation provisions from the February 2024 Order.The specific rule section that is being delayed is 47 CFR 64.1200(a)(10) of the Commissions Order requiring businesses to treat a consumers reasonable revocation to revoke consent as revocation for all futur
An Illinois state Appeals Court has sided with the consumer in a collection lawsuit, ruling that the consumer should not be required to initiate arbitration by filing the proper paperwork and paying the initiation fees if he wants to arbitrate the collection lawsuit filed against him. The background: The case began when the defendant allegedly defaulted on a credit card debt that was purchased by the plaintiff.
Cost-effectiveness isnt just about cutting costs. For financial institutions, its about delivering greater value for everything invested improving operational performance, reducing risk, increasing recovery, and ensuring long-term resilience with limited resources. In modern collections, this translates into the ability to scale operations without scaling complexity, automate what slows you down, and deliver measurable outcomes faster.
Student loan repayments are backand the ripple effect is real. As borrowers juggle renewed obligations, creditors across all sectors could see rising delinquency. Heres what to watch for in 2025 The post The Ripple Effect of Student Loan Defaults: What Creditors Should Be Watching in 2025 first appeared on Optio.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
In todays world, connecting with consumers requires more than just making a phone call or sending a standard email, especially in the realm of debt recovery and collection. Navigating through the various strategies often feels like wading through a sea of acronyms and buzzwords. Terms like AI, machine learning, and data science can quickly become overwhelming or even feel interchangeable, leaving you unsure of what they actually mean and how they affect your business and bottom line.
A bill has been reintroduced in the House of Representatives that would prohibit lawsuits filed to collect debts for which the statute of limitations has expired, while also placing additional conditions on time-barred debts that are sold. The Fair Debt Collection Improvement Act, H.R. 2704, was introduced again by Rep. Steve Cohen [D-Tenn.]. The bill seeks to amend the Fair Debt Collection Practices Act.
Once an execution is sent to a city marshal, fees on any monetary recovery are owed to the marshal. A question that comes up often in our debt collection practice is: What are marshal fees, and who pays them? When you think of the word “execution,” you might imagine an executioner with a guillotine. but it means something different when it comes to debt collection.
Late payments are a growing challenge for businesses, with increasing economic uncertainty amplifying the risks associated with cash flow disruptions. For the first time, an exclusive survey from The Kaplan Group reveals the preventive strategies that distinguish companies excelling in collections from those facing persistent payment delays. The survey was conducted among 100 financial decision makers, including CFOs, VPs of finance, controllers, and directors of finance, representing businesses
What’s holding finance teams back isn’t just process inefficiency. It’s culture gaps, reactive mindsets, and missed opportunities to lead real change. In an era of disruption, finance leaders can no longer afford to operate on autopilot and the most resilient teams aren’t just efficient—they’re connected, talent driven, and culture-focused. Join Melissa Hurrington for an exploration into how finance leaders can evolve beyond process and numbers to create adaptive, people-powered teams that thriv
Join George Koukis , International Business Development Director of Factoring and Supply Chain Finance at QUALCO, as he speaks with Tamara Khizanishvili , Director of Trade Finance and Factoring at TBC , about: 1 The challenges of manual factoring and the turning point for change 2 The role of technology in enhancing efficiency, security, and scalability 3 Lessons learned from TBC's digital transformation journey 4 Advice for banks looking to implement similar solutions Are you more of a reader
Efficiency, accuracy, and compliance are critical in the fast-paced world of debt collection. TrueAccord, a leader in digital-first debt collection, is leveraging Robotic Process Automation (RPA) bots to transform the industry and improve operational efficiency, compliance efforts, and customer experience. At TrueAccord, we’re not just collecting debt; we’re revolutionizing the process with this kind of cutting-edge technology.
Days before a new rule was set to go into effect, the Federal Communications Commission (FCC) yesterday granted a one-year extension for a key provision of the rule related to the Telephone Consumer Protection Act that impacts how companies were going to be required to process revocation requests from consumers. The extension delays the effective date of the requirement in 64.1200(a)(10), which mandates that a single revocation request from a consumer must apply to all future robocalls and robo
One of the most common questions when planning to shut down a business is how much does it cost to close a limited company? UK companies have several options available to them, depending on whether they are solvent or not. In this guide, we run through the approximate cost considerations from voluntarily striking off a limited company to the cost of a liquidation and everything in between.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Late last year, the Federal Trade Commission (FTC) approved a revision to 16 CFR Part 425, the rule concerning recurring subscriptions and other negative option plans. The law becomes effective May 14, 2025 unless overturned or legally challenged. Over 99% of the auto-renewal contracts that we enforce for our clients are not compliant with the new regulations.
Medical billing collection is a challenging business. Whether you are a debt collection agency, an extended business office, or the accounts receivable department that manages healthcare collections, many struggles are the same. Bad medical collection practices can damage a healthcare facilitys reputation. Bad internal communication can impact medical billing collection results.
Theres always that customer. The one whos just a few days late (every single time). The one who blames their bookkeeper. Or the one who mysteriously disappears the moment your invoice is due. Sound familiar? If you run a small or medium-sized business in Australia, chances are youve spent more time chasing payments than you. Read more » The post How to Deal with Repeat Offenders: Managing Chronic Late Payers appeared first on JMA Credit Control.
As businesses in the credit and collection industry continue to adapt to a changing landscape, its crucial to stay ahead of workforce trends that directly impact employee satisfaction, engagement, and retention. A recent Korn Ferry report, Workforce 2025, provides valuable insights that can help you optimize your workforce strategies. Heres a breakdown of key findings that can guide your approach to keeping your team happy, engaged, and productive.
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
Jacksonville, FL – Jimerson Birr is pleased to announce the addition of Attorney, Curtis Campbell, to the firms growing roster. With a strong background in catastrophic commercial litigation, construction disputes and class action litigation, Campbell brings a wealth of experience to the firms growing business litigation practice. Campbells prior experience includes addressing coverage-related issues under various insurance policies, including determining whether businesses were entitled t
By Christina Krakoff, a Trusts & Estates Attorney at McLane Middleton This article was originally published in the March 19, 2025 edition of the New Hampshire Bar News In an evolving landscape for modification of irrevocable trusts, Attorneys and Trustees should proceed with caution. In a recent decision, Wright v.
Like any other industry, law firms hope to keep up with peers in the course of business operations. This applies to more than just serving clients. Older law firm technology and outdated workflows are inefficient and cause lost revenue. Following compliance and using technology for attorneys will simplify back office operations and keep firms positioned for the future.
Youve probably felt it too. The rents gone up. Groceries cost more. Power bills have doubled. Even your morning coffee seems to be testing your credit limit. Australias cost of living crisis isnt just hitting households – its hitting businesses hard. And one of the first signs? Customers start paying late. Whether you deal with. Read more » The post How the Cost of Living Crisis is Impacting Business Payments (and What You Can Do About It) appeared first on JMA Credit Control.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
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