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MT. LAUREL, N.J., Sept. 27, 2021 /PRNewswire/ — Strategic Resource Alternatives (“SRA”), an industry-leading full-service receivables management and outsourcing firm, is pleased to announce the completion of an acquisition of J.J. Marshall & Associates, Inc., a Michigan-based recovery firm. SRA provides accounts receivable management, debt recovery, BPO, call center & letter service solutions, with 30 years of operating … The post Strategic Resource Alternatives C
I had worked in debt collections before when I came to American Profit Recovery six years ago, first in collections for vehicle loans, and later for collections in mortgages. I thought I knew what I was getting into—collections is collections, right? BOY was I wrong! Work life at American Profit Recovery is truly a unique atmosphere in so many ways.
If you’re concerned about receiving timely payments, you might be interested to know that your clients have preferences about receiving your invoices. When you can meet their preferences to increase your cash flow, isn't it worth it? When is the best time to send your client an invoice?
Every few days, my 8-year-old son, Neal, asks if he can “earn something” on Roblox, a popular online video game platform. That’s his way of suggesting I buy him Robux, the platform’s currency, in exchange for him doing a chore or extra academic assignment. While I usually decline these requests, his persistence made me wonder. Kimberly Palmer writes for NerdWallet.
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?
Several collection agencies have been using electronic mediums like emails, social media platforms, and SMS to contact debtors. This approach is significantly different from traditional collection calls and letters. To a standard person, it may appear that contacting a debtor either way (traditional or electronic) is the same, a contact made is a contact made regardless of the medium. right?
The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing a California-based software company and its owner of providing assistance to illegal credit-repair businesses.
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The Consumer Financial Protection Bureau (CFPB) today filed a lawsuit in federal district court accusing a California-based software company and its owner of providing assistance to illegal credit-repair businesses.
A District Court judge in North Carolina has granted a defendant’s motion to dismiss after it was accused of violating the Fair Debt Collection Practices Act by leaving a voicemail message on an individual’s cell phone that was overheard by the plaintiff’s sister, ruling that cell phone voicemails are intended to be private and if … The post Judge Grants MTD in FDCPA Case Involving Overheard Voicemail Message appeared first on AccountsRecovery.net.
Just because you’re managing and operating a small business doesn’t mean you need to act small. And that has never been truer than in the case of accounting, tracking the money that goes in and out of your business, and detailing exactly what your customers owe you. Gone are the days of verbal commitments and writing orders and changes on pieces of scrap paper.
Within an accounting department, a credit manager's job is to determine the creditworthiness and credit risk of clients. By setting up clients in this way, along with the implementation of a credit policy, your accounts receivable department can be more successful, cash flow is boosted and the risk of non-paying clients is reduced. Here are best practices for creating a business credit policy.
In this series, NerdWallet interviews people about their journey to tame debt. Responses have been edited for length and clarity. Anthony & Jhanilka Hartzog Life after paying off $114,151 Just months before the COVID-19 pandemic hit the United States, Anthony and Jhanilka Hartzog paid off the last of their $114,000 in debt. When we first. Amanda Barroso writes for NerdWallet.
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.
As many as 15% of the UK’s SMEs are rated ‘fragile’ and risk insolvency during the next four years as Covid-19 state support schemes are withdrawn, according to research by Euler Hermes. State support softened the blow of the Covid-19 shock in 2020, reducing the number of fragile SMEs by more than 8,000 in Germany, France and the UK, according to the company’s research.
“The telephone is your best friend! Don’t be scared of the phone”!!! I really wish I could shout this constantly from the rooftops to every business owner in this country. The amount of people who are petrified of calling their overdue customer is crazy. Just yesterday I received an email from someone owed $210 admitting they “were too chicken to call so I just email” This really does break my heart and I shudder to think of the hundreds of millions and millions of
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. … The post Getting to Know Shaun Ertischek
There are several reasons why organizations of all sizes would be looking for a debt collection agency. You may be a small business and have reached the point where you’re tired of chasing down late and nonpaying customers. Or maybe your organization regardless of the size has limited internal resources to handle the task of getting your customers to pay on time.
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.
The National Oceanic and Atmospheric Administration (NOAA) predicts an above-normal hurricane season. Unfortunately , we've already witnessed the power of Hurricane Ida across the country with much of its impact still to be determined. Just as we've discovered with the COVID-19 pandemic, asking for money during this time seems precarious. Is there a nice way to collect payments from clients affected by natural disasters?
Natural disasters can upend lives in an instant, but unwinding the financial damage can take many months. Still, those affected have many sources of help. Here’s how you can get help and be strategic with your resources as you begin to rebuild after a disaster. Deal with immediate needs first First things first: Contact the. NerdWallet writes for NerdWallet.
If you are having trouble collecting a commercial debt, you may wonder what you can do to make the debtor pay. The truth is, you have many tools available to you under Massachusetts law. The experienced commercial collections attorneys at the Law Offices of Alan M. Cohen LLC know how to choose the right tools for the job. If your debtor owns real estate in Massachusetts, a real estate attachment could be just the tool you need.
This is a question we get asked all the time and our answer is always the same- absolutely you should. But give them one final chance and don’t ever give them longer than 24 hours to respond or pay. Short, sharp deadlines. The time for chit chat and niceties is over. You mean business and they can either pay you today or deal with the debt collectors tomorrow.
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.
Have you seen those videos, where someone painstakingly takes clips from actors saying different words and assembles them into recreations of songs or famous speeches? Well, at the end of the day, what is recreated is still a song or a famous speech? Similarly, plaintiffs can’t parse words in collection letters and accuse a collector … The post Judge Grants MTD Over Settlement Language in Letter appeared first on AccountsRecovery.net.
In a recent decision, the Florida Supreme Court officially adopted and codified the apex doctrine in the context of corporations for lawsuits in Florida, effective August 26, 2021. See In re: Amendment to Florida Rule of Civil Procedure 1.280, No. SC21-929 (Fla. 2021). This important decision offers a key additional potential protection for Florida companies, as it limits the ability of opposing litigants to take the deposition of high-level company personnel except for in certain limited circum
After the sales team closes the deal and the goods or services have been delivered, the accounts receivable department ensures that your customers meet their payment deadlines. Receiving timely B2B payments reduces potential cash flow issues, ensuring vendors and employees are paid and the business continues growing. An accounts receivable specialist has certain defined responsibilities within the department.
If you’re a procrastinator and your passport is set to expire, hopefully you don’t have an international trip planned within the next four months (at least). The U.S. Department of State is warning of massive delays in turnaround times both for issuing new — and renewing existing — passports. If you’re renewing an existing passport. Sally French writes for NerdWallet.
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.
After the District Court for the District of Oregon dismissed a Fair Credit Reporting Act (FCRA) suit filed against Fred Meyer, Inc. , the Ninth Circuit Court of Appeals partially reversed , holding Fred Meyer had failed to comply with FCRA’s “standalone” requirement by providing, in good faith, an extraneous explanation of the applicant’s rights in its background check disclosure.
Becoming an authorized user is a common tip for individuals trying to build their credit. But what about the people who are being asked to add authorized users? How do authorized users affect you and your credit scores? As long as you’re making payments on time and neither of you run up a lot of debt, you shouldn’t see much effect on your credit reports.
A nonprofit organization in Washington, D.C. has published a report on the debt collection litigation market, outlining a series of recommendations to state and federal lawmakers to make the process “safer and fairer” for everyone. The report, published by The Aspen Institute, says the current system for collecting unpaid debts “is broken” is because plaintiffs … The post Report Calls Collection Litigation ‘Broken,’ Makes Suggestions to Reform Process ap
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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