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The Role of Credit Management in Ensuring Business Longevity

Enterprise Recovery

Credit management is a vital aspect of financial health for any business, influencing cash flow, profitability, and overall stability. Effective credit management ensures a company can meet its obligations to suppliers, employees, and creditors while maintaining the liquidity necessary for day-to-day operations.

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Commercial Collection Agencies of America Announces Board of Directors

Account Recovery

Commercial Collection Agencies of America has elected its new Board of Directors and has announced the slate of officers of the organization. Board members include Pete Roth of CST Company, Fred Wasserspring of Lyon Collection Services, Inc., David Herer of ABC-Amega, Inc., David Herer of ABC-Amega, Inc.,

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The Role of a Credit Manager in Your Business

Enterprise Recovery

Credit managers can help your business by ensuring the smooth functioning of credit operations. They are responsible for assessing the creditworthiness of potential clients and managing credit limits to prevent late payments and minimize financial risks.

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Massachusetts AG Settles Improper Collection Case Against Mortgage Servicer

Account Recovery

Massachusetts Attorney General Andrea Joy Campbell has reached an agreement with Franklin Credit Management, a mortgage servicer, to resolve allegations of improper debt collection practices in The Bay State. It will stop collecting on $10 million worth of mortgages and pay a $300,000 fine to settle the enforcement action.

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Encore Capital Reports Strong Q3 Performance Amid Record U.S. Debt Supply

Account Recovery

The good times keep rolling at Encore Capital Group, which reported a 58% jump in new income for the third quarter of 2024, compared with the same quarter last year, driven by its Midland Credit Management (MCM) operation, which continues to capitalize on record levels of charged-off debt available for purchase.

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Appeals Court Overturns $350k Damages Award Against Collector

Account Recovery

The Court of Appeals for the Seventh Circuit on Friday reversed a jury award of $350,000 against a collector in a Fair Debt Collection Practices Act case over the collection of a time-barred debt, ruling the plaintiff lacked standing. A copy of the ruling in the case of Pierre v.

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Judge Grants MSJ in Separate FDCPA Suit Filed Over Same Account

Account Recovery

A District Court judge in Missouri has granted a defendant’s motion for summary judgment after a plaintiff filed two separate lawsuits related to two different collection letters that she received five months apart attempting to collect on the same debt. A copy of the ruling in the case of Branum v.