Enterprise Recovery
NOVEMBER 11, 2022
When it's your job to collect past-due invoices, what you say matters. And what you say will depend on your state of mind when you type the email or get on the phone. How you come across to your clients, especially when they're long-term business-to-business relationships, will determine how they react to you, your demands, or any negotiation tactics.
Account Recovery
NOVEMBER 30, 2022
Companies nationwide in the accounts receivable management industry have felt the pinch in their wallets during the past two years thanks to rising wages being paid to collection agents, customer service representatives, and other contact center workers. But maybe there is a light at the end of the tunnel. Experts quoted in a published report … The post Contact Center Wages Have Peaked and Will Finally Start to Normalize in 2023: Report first appeared on AccountsRecovery.net.
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Collect More
NOVEMBER 14, 2022
“What is the absolute most you can pay today?” Our favourite question, bar none. If this nugget of gold isn’t in your collection repertoire, then you could be missing out on hundreds, if not thousands of dollars. When a debtor tells us they’ll pay it next week, we ask this question. When they say they can’t pay the full amount today, we ask this question.
American Profit Recovery
NOVEMBER 30, 2022
By Angela: The perception of debt collections has changed dramatically in recent years. For many years the public had an image of collection agencies that just focused on collecting money. At one point or another, before I got into this industry, I had those types of feelings too. What I’ve learned in my experience is now the furthest from these scenarios.
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
Account Recovery
NOVEMBER 29, 2022
The No Surprises Act has prevented more than 9 million individuals from receiving surprise medical bills during the first nine months of 2022, according to the results of a survey conducted by Blue Cross Blue shield Association, but the process of how disputes are resolved is facing a legal challenge that could make a growing … The post No Surprises Act Stops 9M Bills, But Disputes Piling Up as Legal Challenges Continue first appeared on AccountsRecovery.net.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Enterprise Recovery
NOVEMBER 28, 2022
While we typically write about the end-of-the-year processes for accounts receivable , year-end brings about its own stress for the sales and marketing teams. With quotas to meet and budgets to assess, the challenges can weigh on even the most seasoned professional. Here are four tips for B2B sales and marketing professionals to end the year strong.
Nerd Wallet
NOVEMBER 22, 2022
The No Surprises Act, billed as protection for patients against surprise medical bills, took effect on New Year’s Day 2022. But has the federal law actually curbed health care charges at high out-of-network rates, as well as certain forms of “balance billing” for the portion of provider charges not covered by insurance? The new law’s. John Rossheim writes for NerdWallet.
Nexa Collect
NOVEMBER 26, 2022
As per FTC, starting June 9, 2023 all collection agencies will be treated as financial institutions. This means all collection agencies must secure consumer data nearly the same way as banks. Failure to comply with GLBA can have severe consequences for the collection agency, especially the owners and/or the CEO. Each violation can result in fines up to $100,000 and may extend to criminal penalties, including jail time.
American Profit Recovery
NOVEMBER 23, 2022
There is a lot of important work done by reputable and professional debt collectors daily in this country. This work helps the overall economy, consumers that may be struggling with ongoing debt, and small businesses struggling to meet payroll and other expenses. The debt collection industry helps larger organizations keep costs down and keeps the workforce employed.
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.
Account Recovery
NOVEMBER 22, 2022
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call … The post Class Action Accuses Collector of Requiring Reason to Accept Dispute first appeared on AccountsRecovery.net.
Consumer Finance
NOVEMBER 9, 2022
“Pig butchering” and other scams lead list of crypto-asset complaints.
Enterprise Recovery
NOVEMBER 4, 2022
If you're reading this, it's more than likely because you've done everything you can to get a client to pay, including asking nicely , and they're simply. not paying. You may be wondering if you have any recourse at all and you really, REALLY, need to get back to running your business. Hiring a professional debt collection agency seems complex and a little uncertain.
Nerd Wallet
NOVEMBER 23, 2022
Wells Fargo appears to be back in the crosshairs of federal regulators, with Bloomberg reporting this month that the bank is expected to be fined more than $1 billion by the Consumer Financial Protection Bureau to settle investigations into its business practices. Details on these inquiries were not made available, and the CFPB and Wells. Cara Smith writes for NerdWallet.
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Sawin & Shea
NOVEMBER 30, 2022
Student loan default can impact millions of Americans. Unfortunately, defaulting on a student loan can hurt your finances, credit, and other aspects of your life. If you fall behind on student loan payments, your loan won’t default immediately. Instead, you’ll default if you fail to make full payment for 270 days, just under nine months. Once this happens, you may face serious ramifications, including wage garnishment and the offset of your federal tax refund and Social Security benefits.
American Profit Recovery
NOVEMBER 2, 2022
To say there is endless misinformation about debt collections in the media and on the Internet would be a vast understatement. Right up front, you should know that the debt collection industry provides critical and necessary support to not only consumers and the business community but the overall economy. Just about everyone who works in the debt collection industry fully understands that it can be an uncomfortable situation as a consumer being sent to collections.
Account Recovery
NOVEMBER 23, 2022
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant … The post 21 Companies Seeking Collection Talent first appeared on AccountsRecovery.net.
Consumer Finance
NOVEMBER 14, 2022
Today, the Consumer Financial Protection Bureau (CFPB) issued two reports on the tenant background check industry.
Speaker: Erika R. Bales, Esq.
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.
True Accord
NOVEMBER 8, 2022
LENEXA, Kan., Nov. 8, 2022 — TrueAccord Corp , a debt collection company using machine learning-powered digital recovery solutions to improve consumer experience, today announced it joined the Visa Fintech Partner Connect program. Through Visa Fintech Partner Connect, TrueAccord is Visa Ready certified. This certification helps technology companies build and launch payment solutions that meet Visa’s global standards around security and functionality.
Nerd Wallet
NOVEMBER 2, 2022
Home affordability has crumbled this year, and it may erode further at the hands of the Federal Reserve. The Fed on Wednesday raised the federal funds rate by three-quarters of a percentage point to a range of 3.75% to 4%. The central bank’s action will directly or indirectly raise the floor under several consumer interest. Holden Lewis writes for NerdWallet.
Credit Corp
NOVEMBER 29, 2022
Did you know that financial behaviors are set by age seven ? Even if a student is receiving a financial literacy education in school, they’re likely not learning important lessons like budgeting, saving, investing, and managing income until high school. By then, they’re already facing tough decisions about how to spend their first paycheck and determining how to afford higher education.
Sawin & Shea
NOVEMBER 15, 2022
Bankruptcy is sometimes the best solution for those struggling with overwhelming debt. But tragically, many people decide not to file because they feel ashamed about their financial situations. They fear that other people will find out about their bankruptcy and view them as financially irresponsible. There’s nothing wrong with filing for bankruptcy, but worrying about what other people will think is understandable.
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Account Recovery
NOVEMBER 18, 2022
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call … The post FDCPA Suit Accuses Collector of Failing to Identify Creditor to Whom Debt was Owed on Itemization Date first appeared on Accoun
Consumer Finance
NOVEMBER 30, 2022
Today, the Consumer Financial Protection Bureau (CFPB) took action against Loan Doctor to resolve the CFPB’s claims that the company and its founder, Edgar Radjabli, broke the law by deceiving consumers into thinking they were depositing funds into a guaranteed return savings product within a commercial bank.
Prosperity Now
NOVEMBER 29, 2022
Who is making the money?
Nerd Wallet
NOVEMBER 8, 2022
Brand loyalty is one thing, but when that loyalty is directed at a small business, it stands to benefit an entire community. The relationship between a small business and its customers is unique — rarely is it purely transactional. In fact, 37% of Americans say they purchase from small businesses to receive a more personal. Elizabeth Renter writes for NerdWallet.
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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.
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