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The amount of concerns and issues a business owner, entrepreneur or anyone in senior leadership has on their minds on any given day can be countless to say the least. From bringing in enough business, being able to handle that business, everything to do with hiring and firing, cash flow, legal matters, and so much more. And if you are in one of these positions, then you know this all too well.
When interest rates started to drop in the spring of 2020, my husband and I took notice. We watched as the rates on both fixed-rate and adjustable-rate mortgages continued to slide to historic lows. As a growing number of friends gushed about how much they’d lowered their rates and monthly payments, we decided to look. Erin Hurd is a writer at NerdWallet.
Student loan borrowers who seek to have their debt canceled in bankruptcy — what’s known as discharge — typically find it an expensive process with standards that can be difficult to meet. But recent bankruptcy court rulings and lawmakers’ support of relief for overburdened borrowers may signal a change is coming. In January, a New York. Anna Helhoski is a writer at NerdWallet.
The Consumer Financial Protection Bureau today released its debt collection rule, continuing its process of modernizing the regulation of the accounts receivable management industry. The rule — all 653 pages of it — can be accessed by clicking here. The changes announced today will go into effect one year after they are published in the … The post CFPB Releases Debt Collection Rule appeared first on AccountsRecovery.net.
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?
Does your business suffer from late paying customers? Are you a flying-by-the-seat-of-your-pants A/R department of one? Do your clients get away with paying your business late or not at all without any consequences? If you answered 'yes' to any of these questions, an accounts receivable collections policy can help you: Get paid on time. Organize your accounts receivable process so you can handle the job alone.
Unpaid bills are a huge problem for funeral homes. Recovering money from the estate or from relatives can often become difficult. The internal staff of funeral homes is able to recover money in most cases but then there are those tough 10% of the cases where recovering money gets a bit out of hand. A Collection agency for funeral homes can attempt to recover money a lot more efficiently.
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Unpaid bills are a huge problem for funeral homes. Recovering money from the estate or from relatives can often become difficult. The internal staff of funeral homes is able to recover money in most cases but then there are those tough 10% of the cases where recovering money gets a bit out of hand. A Collection agency for funeral homes can attempt to recover money a lot more efficiently.
There are many reasons collection agencies exist. And while many consumers do not like being on the receiving end of a communication from a collection agency, companies like ours provide a necessary service to organizations that have challenges in getting their customers and clients to pay or pay on time. It does not matter what size your company is.
Back in 2019, TrueAccord pledged to hire 50 new Lenexa team members every year until reaching our goal of 150. But thanks to a huge growth in business, TrueAccord has accelerated its hiring, adding 84 employees working remotely across the nation and from its Lenexa, Kansas office since the beginning of March alone. Overall, the Lenexa office has grown from 12 employees to over 118 people in under two years, and we’re still actively hiring across many functions.
Amid the COVID-19 pandemic, with millions of schoolchildren still learning remotely as the weather turns colder, some might benefit from a few investments in their at-home experience. The following items, all under $15, can help make distance learning more appealing to even the youngest learners. 1. New background decorations When your child is on screen.
You have to hand it to consumer advocacy groups. They know how to name a report that will grab everyone’s attention. The National Consumer Law Center yesterday released a report, “No Fresh Start 2020: Will States Let Debt Collectors Push Families Into Poverty In The Wake Of a Pandemic?” which grades each state on their … The post NCLC Report Calls Out States For Poor Exemption Protections appeared first on AccountsRecovery.net.
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.
Communication, especially in the time of remote work and virtual meetings, has never been more important. As a freelancer, agency or business owner, you may also feel distracted or overwhelmed when juggling work, clients and working from home. If you've found client communication especially challenging recently, we've created a few example scripts that we hope will help you.
Doctors are smart people. But even smart people make dumb mistakes sometimes. Going to medical school doesn’t guarantee that you how to handle your finances. Newly minted physicians earn high incomes but have large amounts of student debt, and generally require specialized insurance. This can get people into trouble if they aren’t aware of best practices for building and holding onto wealth.
Women often face unique challenges when managing their personal finances. One of those, for example, is the gender pay gap. According to PayScale, in 2020 women make on average 81% of what men earn in the workplace. But you don’t have to let those obstacles keep you from achieving your financial goals—check out some of these financial resources for women to help you manage your money and get ahead for the future. 1.
On October 30, 2020, the Consumer Financial Protection Bureau issued a final rule to restate and clarify prohibitions on harassment and abuse, false or misleading representations, and unfair practices by debt collectors when collecting consumer debt.
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.
Entry-level jobs are scarce for recent college graduates, which leaves the Class of 2020 in a precarious position as their student loan debt comes due. Taylor Cabrera has been job-hunting for months since graduating from the University of Mississippi last spring with dual bachelor’s degrees in biology and physics, and has moved in with family. Anna Helhoski is a writer at NerdWallet.
JUDGE DENIES MOTION FOR ATTORNEYS’ FEES IN FDCPA CASE In a ruling that was spotlighted by Barron & Newburger, a District Court judge in Pennsylvania has granted a plaintiff’s motion to dismiss his own lawsuit and denied a defendant’s motion for attorneys’ fees and costs in a Fair Debt Collection Practices Act case. COLORADO EXTENDS … The post Daily Digest – October 28.
When you're trying to learn more about your business finances, a cash flow statement is a must. This financial statement paints a clear picture of how your business is managing its cash to pay debts and fund operations. The cash flow statement can help determine the success of your business and be an important indicator of potential to an investor. What is a cash flow statement and why is it important?
For snow removal companies overdue accounts receivable is an ongoing issue. Their customers can be a small business, government, large corporates as well as private homeowners. Customer excuses may range from underbudgeting the cost snow removal work, to temporary economic problems. Not getting paid on time can quickly restrict your cash flow, that’s why hiring a collection agency when an account is 60 days past due is absolutely the right choice.
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.
Most years, the deadline to file your federal income tax is on or around April 15. In 2020, the federal government extended that deadline to July 15 because of potential delays and obstacles caused by the COVID-19 pandemic. If you miss this deadline, you can request to file on the October 15 tax filing deadline instead. There can be consequences for filing late, but the type of penalty depends on several circumstances: Did you request a tax extension?
I don’t like to have regrets in business- I think everything we do and everything we go through, good and bad, is a learning experience and life is way too short to live in the past. But there is something I did about 5 years ago that I still kick myself over. I was engaged to provide debt collection training to a major insurance brokerage here in Queensland.
Many Americans started investing for the first time during the pandemic, but even though their trades may have been free, the money involved might soon come with a bill from the IRS. If you’re a new investor, here are four things that could trigger a tax-related hit — and what tax pros say you can. Tina Orem is a writer at NerdWallet. Email: torem@nerdwallet.com.
Thanks to the team at Ballard Spahr for noticing that the Consumer Financial Protection Bureau filed an amicus brief in support of a debt collector’s position that it did not violate the Fair Debt Collection Practices Act when it included line items indicating that an individual owed $0.00 in interest and collection fees in a … The post CFPB Stands Behind Collector for Itemizing Debt in Letter appeared first on AccountsRecovery.net.
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.
In the age of social media and rapid-fire news stories, it's important for businesses to consider their brand reputation. If your accounting team outsources its bad debt or unpaid receivables to a collections agency, it's also important to protect your brand. Quite simply, a negative experience with a collections company could sour business relationships and your branding.
ADP Workforce and Square Payroll are both HR management tools that wrap several functions into a single software package. Both are highly-rated with large, established userbases, and they do more or less the same thing. However, while they share much of the same functionality, that doesn’t mean that each is right for every business. Depending on how features are implemented, the size of an organization and its software budget, one package may be a better fit than the other.
Getting a new car is a big decision, and you should choose your next vehicle carefully. But if you think finding the right car is difficult, deciding whether to lease or buy can be even more overwhelming. Start the process right by understanding the minimum credit score to lease a car and determining whether this is the best decision for you. 1. Check Your Credit.
Are you heavy in debt and need to get out from under the burden? Is debt limiting your options in life and you need a way out? Debt has a way of creeping up on all of us, especially when we least expect it. If this has happened to you, and you know it’s time to make a change, these are some simple strategies that can help you make big dents in your debt.
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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