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Anyone who has been in business for a while will know that we are entering the danger zone. The annual period where getting paid is like pulling teeth. Thankfully it is still mid November so there is still time to plan, prepare and cope. The best advice I can give you right now is this- be up front and honest with your customer and ask them, before you start work or provide the goods and services, if they are going to be able to pay on time.
There is no state as liberal as New York when it comes to commercial debt collection and the enforcement of judgments against commercial entities. New York Civil Practice and Rules Article 52 grants the judgment creditor many liberties and privileges when it comes to enforcing a judgment. To ensure the best possible outcome, you’ll want to make sure you have a good collection attorney who knows how to maneuver through New York’s liberal enforcement policies.
In the latest HMRC update, overdue debt increased to £58 billion – a record-breaking level of debt. Sushil Patel, Director of Restructuring Advisory at Kroll, has explained how this may impact the collection of debt in a period of financial recovery for the UK. In the 13 years prior to the 2020-21 financial year, HMRC’s overdue debt averaged £18.1 billion, peaking in 2008/09 following the financial crisis, where the debt level approached £26 billion.
JUDGE GRANTS MTD IN FDCPA CASE OVER USE OF WORD ‘SUMMONS‘ A District Court judge in Pennsylvania has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act when one of its representatives used the word “summons” during a conversation with the plaintiff, who had been sued … The post Daily Digest – November 29.
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?
. Each year amendments are made to the Federal Rules of Bankruptcy Procedure, which govern how bankruptcy cases are managed. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval.
If there's any solid business advice I could offer to anyone, it would be this: Always follow up. For many reasons, a follow-up email or phone call is essential in achieving results. Often, however, some people don't feel comfortable reaching out again after a meeting, discussion or event. They're worried their ask is a chore or they're being too pushy.
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Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
If there's any solid business advice I could offer to anyone, it would be this: Always follow up. For many reasons, a follow-up email or phone call is essential in achieving results. Often, however, some people don't feel comfortable reaching out again after a meeting, discussion or event. They're worried their ask is a chore or they're being too pushy.
Improving cash flow should be a year-round process for your organization. Looking at the backbone of your business should not happen once a year. It should always be a top priority when running a business of any size. That being said, when we get towards the end of the year, it does provide a business with an opportunity to take a deeper look at the health of the business and ways to improve cash flow before the start of a new year.
Open enrollment for Medicare goes from Oct. 15 to Dec. 7 each year, when Medicare beneficiaries choose their coverage for the next plan year. As Medicare enrollees contemplate their choices for 2022, here are overall Medicare changes to keep in mind. Original Medicare costs are going up Original Medicare includes Part A and Part B. Kate Ashford writes for NerdWallet.
by Paul Alan Levy. An important case about anonymous online speech is hurtling toward a decision in the Second Circuit. The situation is worrisome because defendants are so unsympathetic and the plaintiff’s legal claims seem to me very strong. The danger is that the trial judge’s dismissive treatment of the right to speak anonymously could be addressed in a way that has serious implications for more legitimate speakers.
Nearly 3 million additional people added their phone numbers to the national Do Not Call registry during the 2021 fiscal year, which ended September 30, according to data released by the Federal Trade Commission just before Thanksgiving last week, bringing the total number of actively registered numbers on the list to more than 244 million. … The post 3M New Names on DNC List; 1M More Robocall Complaints: FTC 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.
As the world adjusts to a new normal after the coronavirus pandemic, the economy has begun to make its own adjustments, as well. The pandemic made the transportation of goods more difficult and the cost of labor higher than it has been in years. Few workers have been available to gather and ship materials, causing the goods to become more challenging to obtain.
If you're looking for a positive way to reach out to your clients, a survey may be the way to go. There's lots of available survey research but this post will narrow it down to some best practices and questions to include. Increase client loyalty with these survey questions.
Many small businesses took a beating during COVID-19. At the far end of the spectrum, numerous small retail shops and restaurants closed for good and those that did survive through the pandemic suffered tremendous losses that they now need to work day and night to make up for. And now with immense challenges in the supply chain which currently have no end in sight, small businesses are struggling once again in how they meet the demands of consumers.
This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend specific investments, including stocks, securities or cryptocurrencies. If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. But because end-of-life planning can be emotional.
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.
Each year amendments are made to the Federal Rules of Bankruptcy Procedure, which govern how bankruptcy cases are managed. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval.
A defendant has lost its attempt to keep a Fair Debt Collection Practices Act class action in federal court, with a District Court judge in Wisconsin ruling that even though the plaintiff sought the help of an attorney and that interest continued to accrue on the underlying debt, she did not suffer a concrete injury … The post Judge Remands FDCPA Class Action Back to State Court appeared first on AccountsRecovery.net.
Oh, Canada! A land you may one day wish to call your home. Americans have had tons of reasons for wishing to call a new country home in recent years. With a lower quality of life, few benefits to promote a healthy work-life balance, political unrest, and crippling healthcare costs, many Americans just want out. Canada is certainly a beautiful country, but the beauty goes much deeper than just the surface.
In a Nutshell. Yes, you might be able to get a home loan even if you owe taxes. Owing taxes or having a tax lien does make it harder and more complicated to get a mortgage. You can improve your chances of mortgage approval by actively working to resolve your tax debt even if you can’t pay it all off immediately. Failing to pay your federal income taxes can lead to the Internal Revenue Service placing a lien on your property or your assets.
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.
By Joe: One of the best benefits at American Profit Recovery is our flex time policy. The reason why I love flex time is that when I take paid time off, I get to use it for the things I enjoy. For example, (pre-Covid-19) I saw a $300.00 flight to Europe was available and bought the ticket. I had more than enough paid time off available for this trip due to being able to use flex time for other obligations.
Many people don’t have much choice about when they retire. Illness, job loss or caretaking responsibilities push them out of the labor force, ready or not. But some people have the opposite problem: They do have a choice, and yet they can’t quite bring themselves to quit working. Some love what they do and never. Liz Weston writes for NerdWallet. Email: lweston@nerdwallet.com.
Each year amendments are made to the Federal Rules of Bankruptcy Procedure, which govern how bankruptcy cases are managed. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval.
A District Court judge in Pennsylvania has granted a defendant’s motion to dismiss after it was sued for violating the Fair Debt Collection Practices Act when one of its representatives used the word “summons” during a conversation with the plaintiff, who had been sued by the defendant to recover an unpaid debt. A copy of … The post Judge Grants MTD in FDCPA Case Over Use of Word ‘Summons’ 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.
Summary: Indeed! Individuals can be legally forced to pay their debts with their cryptocurrency, but the creditor must have a judgment which states that the debtor is obligated to pay off the debt, including any cryptocurrency they own. Knowing whether or not the debtor owns crypto like bitcoin is of course a challenge. That is why a creditor must attempt to file a legal suit in which the debtor must declare all his assets under oath when asked by the judge.
This week is International Fraud Awareness Week — but every week is Fraud Awareness Week for FICO, as we focus on helping banks and other financial institutions worldwide detect and manage fraud. Fraud is a big burden for such organizations but there are of course other victims – people just like you and me. Their lives can be turned upside down and their finances ruined when they become victims of clever scam artists.
On November 10th, the Safer Federal Workforce Task Force (“Task Force”) updated its Guidance for Federal Contractors (“Guidance”). As discussed in earlier updates, all federal contracts meeting certain criteria issued after November 15th incorporate the Guidance through FAR Clause 52.223-99 (Deviation) or an agency-specific version of it. What Do I Need to Know?
When you think about holiday shopping, your mind probably goes to big-box retailers before your neighborhood bookstore or antique shop. But in a time marked by widespread supply chain disruptions and inflation, underdog small businesses deserve our attention. Enter Small Business Saturday. Small Business Saturday is an annual event created by American Express that encourages.
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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