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Hospitals and healthcare organizations have been given permission by the Department of Health & Human Services’s Office of Inspector General to sell their debts directly to RIP Medical Debt without having to go through a third-party, according to an advisory opinion released last week. The OIG’s advisory opinion was released following a petition from RIP … The post RIP Medical Debt Gets Thumbs Up From HHS OIG To Buy Directly From Providers appeared first on AccountsRecovery
Businesses and organizations are pushing through the effects of the pandemic on the economy, their industry or their customer response. At the time of writing this, there is no such thing as "after COVID-19" however experts are learning more each day. While everyone is searching for the next normal, it's important to consider how the virus has affected your client relationships and customer service.
There are many activities that help boost our economy. A healthy jobs market, business spending, banks lending money as well as consumer spending. But did you know that debt collections were also a big part of a healthy economy? For the consumer that may be in debt or having issues trying to catch up on financial obligations, they might not think so.
Invoicing is a critical part of the business cycle, but it’s oftentimes the most difficult. Customers expect to be billed for services rendered, of course, but that doesn’t mean they’re excited to receive them. Paying bills is almost universally considered a negative experience, and this is an association that’s hard to escape. As a result, there’s considerable value in working to make your invoices as painless as possible for your customers.
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?
When the House of Representative passed the $3-trillion HEROES Act on May 15, it all but guaranteed that a second stimulus check would arrive for Americans in need of financial help for COVID-19. How much that guarantee is worth and when it will be delivered is up to the U.S. Senate, which is debating the many […]. The post Details on the HEROES Act appeared first on Debt.org.
The COVID-19 pandemic has turned travel upside down, and the hotel industry has been forced to cope with a constantly changing landscape of traveler expectations. From new cancellation policies to improved cleaning and social distancing procedures, major hotel brands have scrambled to adapt to the new reality. But which hotel brands have adapted best?
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The COVID-19 pandemic has turned travel upside down, and the hotel industry has been forced to cope with a constantly changing landscape of traveler expectations. From new cancellation policies to improved cleaning and social distancing procedures, major hotel brands have scrambled to adapt to the new reality. But which hotel brands have adapted best?
A number of consumer advocacy groups have asked the Federal Communications Commission to re-think a Declaratory Ruling related to interpreting how peer-to-peer messages are defined under the Telephone Consumer Protection Act. Last month, the FCC ruled that a calling platform does not meet the definition of autodialer under the TCPA — whether it is used … The post Consumer Groups Appeal FCC’s TCPA Ruling on P2P Texts appeared first on AccountsRecovery.net.
We're all months into this pandemic and doing our best to work outside the office. Whether you're working on your own business at home or working for someone else, time management can be a challenge amidst distractions like children and chores. The "new normal" is to accomplish everything that you did before even. while. you. keep. getting. interrupted.
By Derek: Approximately four months ago, our company made the decision to close the office due to Covid-19, and provide all the employees with computers so they could continue to work from home. It was a drastic change at the time. Everyone was uncertain of what the future held for us, as well as what issues may arise from the switch to working from home.
Chapter 13 bankruptcy can wipe out most kinds of debts and leave you with a much brighter financial picture. But Chapter 13 can’t discharge all types of debt you’ve taken on. Some debts will remain after your bankruptcy, although you’ll be in a much better position to handle them. Here’s a closer look at how it works. Which Debts Can Be Discharged By Chapter 13 Bankruptcy?
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.
Credit card delinquency rates have been climbing since 2016. Average monthly balances have been trending up as well. And these figures are likely to worsen as the results of the pandemic mushroom out into the industry. The number of delinquent accounts will rise sharply, forcing companies into a defensive debt recovery position. If you find yourself in this position already, here are some tactics you can use to begin whittling these balances down.
The coronavirus pandemic is far from over, and with the United States being one of the hardest hit countries, U.S. citizens are finding themselves blocked from entering many countries during the peak of summer. Europe, which is a favorite vacation destination for many, has basically closed its borders to U.S. citizens. If you’re hoping to. Elina Geller is a writer at NerdWallet.
Spire Recovery Solutions, a professional, nationally licensed full-service debt collection agency, announces the successful completion of the extensive Service Organization Control (SOC) 1 Type 1 audit from the American Institute of Certified Public Accountants. “Our team is very excited to share the news of our SOC 1 certification,” says Spire Recovery Solutions’ Chief Compliance Officer … The post Spire Recovery Solutions Earns SOC 1 Type 1 Certification appeared first on AccountsRecover
Owning a small or medium business can be especially frustrating when your clients are paying late or not at all. It's good to note that how you respond to these situations will affect the success of the debt collections and if you can retain the client as a customer. In this post, we will offer tips to ensuring your invoices are paid on time and we will share how and when you should send a business to collections.
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.
By Austin: I was hired at American Profit Recovery in October of 2019. Before this job I have never worked in an office setting. I was either doing manual labor or just on my feet all day. When I first interviewed with Greg I honestly didn’t believe he could be a debt collector because he was too nice. Growing up, I experienced collectors calling my relatives regarding their past due debts, and (based on the stress they displayed) I developed this thought in my head that debt collectors are in
One of the things that people hear about bankruptcy is that it usually doesn’t discharge some debts owed to the government, like taxes. Even if you have a large burden of tax debt that is making it extremely difficult to reconcile your finances, bankruptcy can’t always help. However, here is some good news: You actually can eliminate and/or get some immediate relief from some tax debts in bankruptcy under certain circumstances.
Collecting outstanding debt isn’t an easy process. If a consumer has allowed their obligations to go into delinquency they’re usually either experiencing significant financial difficulty, they’re grossly irresponsible, or they have no intention of paying. None of these situations are amenable to fast debt recovery. Companies will generally try to collect on their outstanding accounts internally before passing their most egregious cases on to an external debt collection agency.
Tuition bills are coming due, and while millions of students across the country are weighing the risks of going back to college in the middle of a pandemic, the most financially strapped students carry an added burden of dwindling aid. For Americans living in the lowest income brackets, college represents a way up the socioeconomic. Elizabeth Renter is a writer at NerdWallet.
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.
The Attorneys General of California, New York, and Illinois yesterday filed a lawsuit against the Office of the Comptroller of the Currency, seeking to block the implementation of a new rule that ensures the terms of a loan remain valid after the loan has been sold to a non-bank entity, a key component when buying … The post Three AGs File Suit Against OCC to Block ‘Valid When Made’ Rule appeared first on AccountsRecovery.net.
While many businesses are trying to return to a new normal after the impacts of the COVID-19 pandemic, some have opted to move to remote work for the rest of 2020. For paper-based A/R departments, this move has been especially challenging. Sending invoices and receiving checks are necessary components to maintaining working capital and cash flow but what happens when the employees responsible are no longer in the office?
“You were very nice…You’re definitely nice to work with. You definitely made the experience that much better. Thank you.”. “Thank you very very much, you’ve been a huge help.”. “You don’t sound like a debt collector, you are too nice”. You read the title of this article correctly. Our collectors get complimented by the consumers they are calling on each and every day.
Young families looking to achieve financial stability should consider several foundational steps… Click To Tweet. Young families looking to achieve financial stability should consider several foundational steps early on. These steps include making a plan to repay personal debts, saving up for a down payment on a house, and planning for the unexpected.
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.
As a full-time dentist and businessperson with a solitary dental practice, you are obligated to borrow values from both professions to form a devised strategy to effectively run your business. You are aware that a business establishment does not run on “debit” and that you will need all finances to be straightened out in order to keep your practice from hitting the bottom of the barrel.
A healthcare provider in Rhode Island has agreed to pay a fine of more than $1 million for alleged violations of the Health Insurance Portability and Accountability Act (HIPAA) after an employee’s laptop computer was stolen and the protected health information (PHI) of more than 20,000 individuals was compromised. The problem for the provider — … The post HHS Fines Provider $1M For Not Encrypting Data on Stolen Laptop appeared first on AccountsRecovery.net.
First party collections , in which your business relies to manage delinquent and non-paying accounts, are a valuable resource to get invoices paid. Getting your invoices paid on time helps ensure working capital and sets your business up for success. In house collections specialists, therefore, are beneficial and necessary, especially in a growing business.
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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