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LAS VEGAS — For anyone who has been in this industry for longer than it takes to drink a cup of coffee, you’ve no doubt heard some reference to how slow companies in credit and collections have been to adopting technology. Having a conversation during last night’s cocktail reception at RMAI’s annual conference, it was noted that as recent as five years ago, companies were still struggling with embracing digital collections, a situation which hasn’t changed much for
Unresolved business debt can wreak havoc on your company’s financial health and well-being. As a Massachusetts business owner, it is easy to get frustrated by the lack of payment. However, there is much more to this than just emotional frustration. The negative ripple through your company is also financially detrimental. Carrying bad business debt on your books affects cash flow, credit ratings and overall business sustainability.
The Consumer Financial Protection Bureau is being sued by the City of Baltimore and Economic Action Maryland Fund, challenging the administrations actions to defund the bureau. Adding to the turmoil, the CFPB has also fired several expert witnesses critical to ongoing cases against financial institutions accused of consumer harm, according to a published report, suggesting a broader retreat from its mission of protecting Americans from financial abuse.
Debt settlement, also known as debt negotiation or debt resolution, means your creditors have agreed to accept less than the full amount you owe them. If youre considering working with a debt settlement company to negotiate or settle your debts , you should ask them some essential questions before signing up. Getting these answers can help you determine if the settlement company is legitimate and if it is the best option for your financial situation.
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?
Lawmakers in in South Dakota have taken opposing actions on two medical debt bills, advancing one that prohibits reporting medical debt to credit agencies while rejecting another that sought to limit when hospitals could send bills to collections.
After a business owner submits a good faith business damage offer in a Florida eminent domain case, the focus shifts to reaching a resolution of the claim. This article examines the process of settling business damage claims, including the condemning authority’s obligations, the components of a business damage settlement, and how attorney’s fees and costs are determined.
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After a business owner submits a good faith business damage offer in a Florida eminent domain case, the focus shifts to reaching a resolution of the claim. This article examines the process of settling business damage claims, including the condemning authority’s obligations, the components of a business damage settlement, and how attorney’s fees and costs are determined.
I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de
Collectively, Americans now owe a record $1.21 trillion on theircredit cards, according to anew quarterly report on household debtfrom the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven in part by holiday spending, and are now 7.3% higher than a year ago. At the same time,credit card delinquency ratesremained elevated, the New York Fed researchers found with 7.18% of balances transitioning to delinquency over the last year.
Getting to Know Heather Taylor of State CFPB Faces First Lawsuit Over Dismantling Companies Accelerating Tech Deployments South Dakota Lawmakers Split on Medical Debt Collection Bills WORTH NOTING: Eight tools to help you get a better night’s sleep … As “Saturday Night Live” gets set to celebrate its 50th anniversary, a look back at some key moments and decisions that made the show what it is today … And here are 12 iconic moments from the first 50 years of the show
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