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5 benefits of turbocharging your accounts receivable management. On paper, the accounts receivable process is downright easy: money comes in, you mark that the client has paid, and you deposit the money into the business bank account. Those of us who work with it daily know that accounts receivable management is rarely that easy. Clients may forget to mention the invoice number or pay from another account than you are used to.
As the light the end of the metaphorical-pandemic tunnel gets brighter, creditors may be questioning whether sending consumers to collections is appropriate. Considering the financial hardships people have endured throughout the pandemic, it is a legitimate concern. Many consumers were laid off, some were forced to work lesser hours, and other people’s jobs were eliminated permanently.
Some experts believe that Social Security funds may soon begin to run short—and many members of the public agree with them. In fact, less than half of the respondents to a recent Quinnipiac poll thought they’d receive a Social Security benefits payment upon retirement. But are they right, and if so, how will the TRUST Act help? In this article, we’ll examine the TRUST Act in more detail, and we’ll explain what it’s meant to do and how it could affect Social Security futures.
Hunstein copycat cases propelled the number of Fair Debt Collection Practices Act cases filed in May higher, according to data released this week by WebRecon, which tracks litigation across the accounts receivable management industry. More than 200 lawsuits alleging companies violated the third-party disclosures provisions of the FDCPA have been filed since the Eleventh Circuit … The post Hunstein Cases Propel Spike in FDCPA Suits, While TCPA and FCRA Suit Totals Fall: WebRecon appeared fi
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 it comes to saving money, this year may look a little different from years past. The savings rate is lower than its peak of about 34% in April 2020, but Americans are still saving more than they did before the pandemic. This is according to the U.S. Bureau of Economic Analysis, which defines savings. Margarette Burnette writes for NerdWallet. Email: mburnette@nerdwallet.com.
Employers are struggling with finding workers even though COVID restrictions are being lifted across the country. According to a recent report , 42% of small business owners were unable to fill job openings and 91% were unable to find qualified applicants. These challenges are also affecting the work that's getting done within businesses too. Here's how the job market is affecting client invoice payments.
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Employers are struggling with finding workers even though COVID restrictions are being lifted across the country. According to a recent report , 42% of small business owners were unable to fill job openings and 91% were unable to find qualified applicants. These challenges are also affecting the work that's getting done within businesses too. Here's how the job market is affecting client invoice payments.
Farshad Ghodoosi of the David Nazarian School of Business & Economics, California State University, Northridge and Monica Sharif of California State University, Los Angeles have written Justice in Arbitration: The Consumer Perspective, International Journal of Conflict Management (2021). Here is the abstract: Purpose: Arbitration—a binding private third-party adjudication—has been the primary legal way for resolution of consumer disputes.
The Department of Education announced yesterday that is canceling the student loan debts for 18,000 individuals who were scammed by a defunct for-profit college. The total amount of the loans being forgiven is about $500 million. The students in question attended ITT Technical Institute, which collapsed in 2016 after it was accused of using misleading … The post Ed.
Wills and trusts are legal instruments that ensure assets are passed down to heirs as per your wishes, helping to provide for the people and causes close to your heart. While each can be a pillar of estate planning, wills and trusts have key differences to consider, from when they take effect to whether or. Tiffany Lam-Balfour writes for NerdWallet.
One of the top stressors of Americans is their financial well-being. Take into account owning your own consulting business, starting a software company or freelance career, and that stress is exponential. It's one thing to lack personal financial literacy but when your business and livelihood are also at stake, the anxiety can leave you paralyzed. Now imagine that you have to contact a customer that's behind on payments. ??.
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.
In an E-Crypto News panel discussion, What Are The Long-Term Prospects For Bitcoin? author Christopher Hamman brought together a panel of 13 business professionals, including Frank Springfield , to discuss Bitcoin’s long term prospects. The full panel discussion can be found here. Frank’s interview in full text is below. “We have seen the amount of interest in cryptocurrencies skyrocket over the past year.
The Consumer Financial Protection Bureau yesterday issued an interpretive rule that reverses a policy decision put in place under the Bureau’s former leadership that will restart examinations in order to enforce the Military Lending Act. The CFPB, under former Acting Director Mick Mulvaney announced in 2018 that it would not examine institutions for compliance with … The post CFPB to Restart Examinations Related to Military Lending appeared first on AccountsRecovery.net.
Buy now, pay later has taken off for retail and travel purchases, and now companies like Walnut and Wellpay offer BNPL for health care costs. This payment option, sometimes referred to as a point-of-sale loan, allows patients to split medical bills into small monthly payments that include minimal or no interest. BNPL loans for health. Chanell Alexander writes for NerdWallet.
Many people assume that because they have filed bankruptcy, their credit is ruined, and they will not be able to qualify for any loans. This is not true. There are a number of steps you can take to improve your credit score and to make it likely that you can be approved for a loan. Chapter 7 bankruptcy: In this type of bankruptcy, your non-exempt assets (if any) have been liquidated to pay off a percentage of your debts.
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 Federal Communications Commission yesterday announced that its reassigned numbers database will be undergoing a beta test from July 1 through September 30 during which callers and caller agents may use the database without charge. The FCC has been working on the database — which is intended to be used by callers to determine if … The post FCC Announces Beta Test Period for Reassigned Number Database appeared first on AccountsRecovery.net.
Some people venture into entrepreneurship knowing what industry they want to conquer and what type of business they want to start. However, for many new entrepreneurs, it can be difficult to figure out how to start a business and exactly what kind of business is the best choice. It’s tough to find that perfect idea. We’ve. Meredith Wood writes for NerdWallet.
It's one thing to be burdened by a single bill. You may be able to negotiate a reduced settlement with your creditor to alleviate yourself of that pesky bill. Debtors with multiple delinquent accounts don't often have the luxury of negotiating balances. It's unlikely that their various creditors will all agree to renegotiate. Situations such as these may call for debtors to file bankruptcy.
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.
It’s June, a special month for honoring loved ones, especially parents and grandparents by raising Elder Abuse Awareness. World Elder Abuse Awareness Day is officially June 15th and it’s an ideal time to educate oneself on how to protect elders from becoming victims of financial abuse. All too often, elders today are the targets of residential real estate fraud and scams.
A joint project by Johns Hopkins University and Axios concludes that “many of the top 100 hospitals by revenue in the U.S. use predatory tactics to pursue patients with unpaid bills,” referring to filing lawsuits against individuals who do not pay their medical debts. Ten hospitals are responsible for 97% of court actions against patients, … The post Hospitals Accused of Hounding Patients With ‘Predatory Billing’ appeared first on AccountsRecovery.net.
Many new mothers see raising children and growing a family as a full-time job. But more and more mothers are inspired to take on the full-time job of raising children while running a business — all at the same time. And from these ambitious and inspiring mothers, we have the rise of the term “mompreneur” in. Georgia McIntyre writes for NerdWallet. Email: gmcintyre@nerdwallet.com.
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.
The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule today that explains the basis for its authority to examine supervised financial institutions for risks to active duty servicemembers and their dependents (i.e. military borrowers) from conduct that violates the Military Lending Act (MLA).
Being confused about whether he owed attorney’s fees and hiring his own lawyer is not enough for a plaintiff to have standing to pursue a Fair Debt Collection Practices Act case, a District Court judge in Illinois has ruled, granting the defendant’s motion to dismiss on the grounds that the Court lacked subject matter jurisdiction … The post Judge Grants MTD in FDCPA Case Over Attorney’s Fees appeared first on AccountsRecovery.net.
Medicare pays much of the cost of a wide range of mental health services, whether provided on an outpatient basis or for inpatients in a psychiatric or general hospital. But you need to be aware of limits on these benefits, including substantial copays, coinsurance and a lifetime maximum. Mental health issues are common among older. John Rossheim writes for NerdWallet.
PayPal has been around for more than two decades. It first launched in 1998 as Confinity and allowed people to send payments via email as early as 1999. By 2000, PayPal allowed people to make payments to eBay sellers and had around a million users. Today, 392 million people and businesses trust PayPal, sending more than a trillion dollars a year through the service.
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
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