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Every interaction a law firm has with a client is a marketing opportunity, a chance to cement your value as a service provider And, there’s actually no better place to solidify that relationship than through your invoicing. It’s a continuous, repetitive option for remind ing your client of what you’ve done for them. It places your value proposition in stark relief.
Debt Collection Agencies could help save thousands of Small Businesses in the UK it is claimed. Almost 500,000 Small Businesses and SME’s in the UK are facing the real prospect of going bust. History shows that taking professional debt collection action can help save the number of Small Businesses from going bust. Recent reports and research make for very bleak reading for the country’s Small Business community.
Rohit Chopra, the Director of the Consumer Financial Protection Bureau, has finally gone too far, in the eyes of the U.S. Chamber of Commerce and three national banking trade groups, who yesterday started campaigns to draw attention to what they labeled as Chopra’s “radical agenda and reckless actions.” The Chamber of Commerce launched an advertising … The post Groups Launch Ad Campaign, Issue White Paper, Detailing ‘Unlawful’ Actions at CFPB appeared first on
Every now and then we will hear this when talking to a consumer and it always reminds me just how important of a role a debt collector plays in the economy. While the person owing the debt may not understand, we have to walk a very thin line at times. This means understanding why the consumer was actually sent to collections. What is our client and many other businesses experiencing across the country that brought us to this point?
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 it ain't broke, don't fix it. But do you know if your collections efforts are broken? If your business has established in-house ( first-party ) collections, accounts receivable and/or debt collection agency partners, it is still a good idea to ensure you're leveraging the best resources, technology, and vendor pricing available. Here's why and how to reassess your in-house collections and B2B collections agency partners.
Today, the Consumer Financial Protection Bureau (CFPB) issued a final rule to help survivors avoid some of the financial consequences of human trafficking. The CFPB has established, among other things, a method for survivors of trafficking to submit documentation to credit reporting companies that identifies any adverse item of information that resulted from human trafficking.
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Today, the Consumer Financial Protection Bureau (CFPB) issued a final rule to help survivors avoid some of the financial consequences of human trafficking. The CFPB has established, among other things, a method for survivors of trafficking to submit documentation to credit reporting companies that identifies any adverse item of information that resulted from human trafficking.
Many collection agencies have shut down recently due to the following reasons. Covid-19 Pandemic : Collection agencies were barred from collecting money in many states during the pandemic, impacting revenue from existing accounts. Moreover, the new business had stopped coming since people were not going to their offices and debt recovery was the last thought in their minds.
If you’re a former jet-setter who hasn’t taken a business trip in years, continue to hang in there. Business travel dropped in 2020 and 2021, and it’s still not back. U.S. hotel business travel revenue for 2022 is expected to be 23% below pre-pandemic levels, according to an April report from the American Hotel & Sally French writes for NerdWallet.
A District Court judge in Illinois has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act case, ruling that emails sent to the plaintiff by the defendant did not violate the statute. The case presents an interesting twist on standing to sue under the FDCPA and communicating with consumers via … The post Judge Grants MSJ for Defendant in FDCPA Case Over Email Sent to Represented Plaintiff appeared first on AccountsRecovery.net.
Recently we held our annual employee week and it was a long time coming! It was so refreshing to have our team together again and kick back, relax and have some much-needed fun and games. This has been an annual event for many years at American Profit Recovery but it’s no surprise that we were unable to pull it off for the past two years because of COVID-19.
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.
When your business contracts with another business, there's an expectation that both parties will honor their obligations, including paying on time. If your clients or business partners aren't following through, your accounts receivable department must devote time and resources in an attempt to collect. Or you can outsource the problem to a collections agency that focuses on this type of debt and respects your client/business relationship.
Retirement is meant to be a time when you can finally relax and do the things you want without having to worry about earning an income and paying your bills. Unfortunately, with the cost of living and other expenses skyrocketing today, more and more retirees are finding it difficult to get by on their social security, pensions, and other retirement savings.
By the time you turn 65, you probably have a good feel for what health insurance does and doesn’t cover. But Medicare is a different beast — and there are some surprising things that don’t fall under Medicare’s umbrella. Medicare is the federal government’s health insurance coverage for people age 65 and older, and other. Kate Ashford writes for NerdWallet.
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.
A District Court judge in Washington has granted a defendant’s motion for judgment on the pleadings in a Fair Credit Reporting Act case, even though the judge took the step of pointing out that the facts of the case were “disheartening,” ruling that a credit reporting agency could not be held responsible for reporting information … The post Judge Grants Defendant’s Motion in FCRA Case Over Disputed Debt appeared first on AccountsRecovery.net.
Consumers as well as the business community have been through a lot during the two-plus years of dealing with the COVID-19 pandemic. Many businesses had to drastically alter the way they conducted business and many as you know all too well were forced to shut down completely temporarily. Consumers either lost their jobs, had their hours cut back depending on the industry they worked in, or decided to take on new careers.
With the federal reserve raising interest rates for the first time in nearly 30 years, economists are expecting a slow down in business growth. They've been talking about a recession for a few years now but then we were hit with a pandemic that shook up everything from the supply chain to the location of the workforce. If you are growing a freelance business, you're likely concerned about what to do if your own business slows down.
Today the Consumer Financial Protection Bureau (CFPB) took action against the owner of a student-loan debt relief company for allegedly withdrawing hundreds of thousands of dollars from student borrowers’ bank accounts, without authorization. The CFPB alleges that Frank Gebase, Jr. controlled a company that took the borrowers’ money after obtaining their names and account information from a previous student-loan debt-relief scammer that the CFPB shut down.
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.
Collection agencies offer two types of collection services to their clients. “ Fixed Fee ” and “ Contingency Only ” service. In the Fixed fee service a collection agency sends multiple written demands only. In the Contingency service one written debt validation notice is sent followed by collection calls from an experienced debt collector.
Sitting at your desk daydreaming about bottomless mimosas and unlimited naps instead of working until retirement age in your mid-60s? It could be more than a daydream because of movements such as Financial Independence, Retire Early. Also known as FIRE, this financial movement is helping people globally achieve retirement quicker. What is Financial Independence, Retire.
The Consumer Financial Protection Bureau yesterday took its first step toward cracking down on credit card late fees, issuing an Advanced Notice of Proposed Rulemaking (ANPR) that seeks information on how effective the $12 billion that consumers pay in late fees every year are as a deterrent and how much they add to the credit … The post CFPB Publishes ANPR on Credit Card Late Fees appeared first on AccountsRecovery.net.
Here you go folks. If this doesn’t get you some money in the next 2 weeks then nothing will. Feel free to use liberally and share with anyone you think will benefit. Just add your customer’s name, your bank details and the amount and hopefully watch the $$$ roll in. Obviously the $100 token payment can be increased if needed too. $100 is historically in our experience just the most common amount almost everyone has access to at any one time.
Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
On June 10, both live and virtual at Burr & Forman’s Birmingham Office, author Peter Zeihan discussed world developments including Ukraine, supply chain issues, the impact on mid-term elections, and more. Peter’s amazing global insights and analysis always leave you wanting more and this presentation was no different. Peter Zeihan has been featured in and cited by numerous newspapers and broadcasts including The Wall Street Journal, Forbes, AP, Bloomberg, CNN, ABC, The New York T
On May 26, 2022, Florida Governor Ron DeSantis signed the Building Safety Act for Condominium and Cooperative Associations (“Building Safety Act”) into law. The Building Safety Act brings sweeping changes to Florida’s condominium and cooperative association laws, particularly regarding building inspections and reserves. This article will provide an overview of the Building Safety Act with a focus on the key changes and how the Building Safety Act will impact Florida community associations.
Ethereum is a central building block of the economy developed around cryptocurrency. Ethereum’s native token, Ether (ETH), is the second-most valuable cryptocurrency by market capitalization. And Ethereum’s underlying technology has been used to create many other high-profile projects, including additional cryptocurrencies, NFTs, and financial products.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
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