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A healthy debt collection process helps businesses of all sizes maintain positive cash flow which is critical for many reasons. Cash flow is the backbone of any size business and positive cash flow keeps a business healthy and strong. It allows for consistent operations, a healthy bottom line, meeting the needs of your workforce and the confidence to know that you have the resources to grow if needed.
NORFOLK, Va., March 12, 2024 — PRA Group, Inc. (Nasdaq: PRAA) (“PRA Group” or the “Company”), a global leader in acquiring and collecting nonperforming loans, announced today the appointment of Glenn Marino to the Company’s Board of Directors (the “Board”), effective March 15, 2024. Marino brings 30+ years of experience in the consumer finance industry to the PRA Group Board.
In the United Kingdom, an intriguing scenario has surfaced within the UK’s debt collection sector and the infamous Martin Lewis. This involves the controversial activities of a UK Debt Collection company, Barratt Smith Brown, who have been accused of sending emails with a signature resembling that of the globally renowned late pop singer, Michael Jackson.
Judge Grants MSJ For Defendant in FCRA Reasonable Investigation Case Bill Introduced in RI to Limit Collection Activity, Ban Credit Reporting, on Medical Debt Report Ranks States Based on Consumer Debt Litigation Benchmarks 26 Companies Seeking Collection Talent Jessica Klander Elected Chief Operating Officer of Bassford Remele WORTH NOTING: Curious how much electricity it takes […]
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?
If you’re considering bankruptcy, you may wonder which filing type is right for you. The two basic types of bankruptcy classifications for individuals and families are Chapter 7 and Chapter 13. A common question we receive regarding these forms is whether you can reaffirm a debt during the process. Fortunately, we’re here to answer frequently asked questions regarding reaffirmation agreements and reaffirmed debt.
In a case that was defended by Dale Golden and the team at Martin Golden Lyons Watts Morgan, a District Court judge in Florida has granted a defendant’s motion for summary judgment in a Fair Credit Reporting Act case, determining that the plaintiff did not provide any evidence to support his claim that the defendant […]
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In a case that was defended by Dale Golden and the team at Martin Golden Lyons Watts Morgan, a District Court judge in Florida has granted a defendant’s motion for summary judgment in a Fair Credit Reporting Act case, determining that the plaintiff did not provide any evidence to support his claim that the defendant […]
Consumer reporting dominates complaints to the Consumer Financial Protection Bureau (CFPB), according to a new report. The Congressional Research Service (CRS), a nonpartisan shared staff to congressional committees and Members of Congress, issued a report discussing the CFPB’s consumer complaint process and public database. Their review of the consumer complaints submitted to the CFPB in fiscal year 2023 revealed that the significant majority (over 80%) were related to credit reporting.
Not looking to stay on the sidelines, a member of the Rhode Island legislature has introduced a bill that would cap the interest rate that can be charged on unpaid medical debt while also banning healthcare providers from reporting information about medical debts to the credit reporting agencies.
The Federal Reserve on Wednesday held interest rates steady as expected and signaled it still plans multiple cuts before the end of the year. Following its two-day policy meeting, the central bank’s rate-setting Federal Open Market Committee said it will keep its benchmark overnight borrowing rate in a range between 5.25%-5.5%, where it has held since July 2023.
The National Center for Access to Justice has released a report and created a benchmark index that ranks each of the 50 states “on their adoption of best policies promoting fairness in consumer debt litigation” and reached the conclusion that “no state should consider that its work reforming consumer debt litigation is done.” Washington, D.C.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.
Since the early 2000s, artificial intelligence has revolutionized business, creating new roles and boosting productivity. However, its lack of human elements like creativity and emotional intelligence has increased the demand for workers with specialized skills and knowledge. Through NACM's six-level Professional Certification Program, credit profe.
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.
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