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The HMRC has surprising made a public statement asking for advice on modernising its Business Debt Collection methods. The statement issued a couple of days ago is asking for suggestions and advice on improving its current methods of tax debt collection from Businesses in the UK. The statement makes it clear that they are prioritising strategies on engaging with businesses that consistently pay their taxes as late as possible.
Running a business is no mean feat. You’ve got to be across each department, process, and strategy. Even with the right staff in place, a great product or service on offer, and a great outlook for the future, you can still run into hurdles along the way. One of the most frustrating hurdles you’ll come. Read more » The post Is Your Debt Actually Able to be Recovered?
When a football player is traded from one team to another or released, one of the first things that the team asks for is the copy of the player’s playbook, which details all of the plays that the team uses during the course of a game. The playbook is a roadmap that, if an opponent … The post CFPB Releases Draft of Strategic Plan appeared first on AccountsRecovery.net.
As more people quit their jobs for better benefits and work-life balance, 32% of Americans have turned to entrepreneurship. Many entrepreneurs started their businesses alongside their full-time jobs, consulting or providing services to friends or businesses in their professional network. If you're looking to take the leap in the next year, allow us to offer some valuable advice and lessons learned.
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?
We’ve always been big advocates when it comes to educating consumers on their rights when it comes to debt collections as well as how to effectively work with a collector to take care of financial obligations. Our professional debt collectors maintain honest and open communications when they’re doing their job and they provide the resources available to make sound decisions.
If you thought navigating the thousands of available cryptocurrencies was confusing, prepare to have your mind blown by NFTs. These one-of-a-kind digital assets number in the millions, offering their buyers ownership of digital content such as images, videos and music. NFTs — short for nonfungible tokens — have in some cases fetched staggering sums.
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If you thought navigating the thousands of available cryptocurrencies was confusing, prepare to have your mind blown by NFTs. These one-of-a-kind digital assets number in the millions, offering their buyers ownership of digital content such as images, videos and music. NFTs — short for nonfungible tokens — have in some cases fetched staggering sums.
Given all the blood, sweat, and tears that went into bringing Regulation F into this world, I would have expected the Consumer Financial Protection Bureau to do something to commemorate the enactment of the debt collection rule yesterday, but it instead chose a more understated approach, opting to take the opportunity to educate consumers about … The post CFPB Publishes Guide to Help Consumers Understand Reg F appeared first on AccountsRecovery.net.
Banks continue to rely heavily on overdraft and non-sufficient fee (NSF) revenue, which reached an estimated $15.47 billion in 2019, according to research released today by the Consumer Financial Protection Bureau (CFPB).
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.
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.
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.
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. … The post Getting to Know Matthew Berumen
If you want to build momentum for your New Year’s money resolutions, set some financial improvements into motion before the end of the year. Here are six easy-to-implement steps to help boost your net worth going into the new year. 1. Mind your health insurance deductibles End-of-the-year financial planning strategies aren’t always this well-timed: “My son’s.
When construction contractors in Florida are hired by a tenant to work on leased property, those contractors must understand their construction lien rights. In certain circumstances, those construction lien rights may not be as robust as the contractor thinks. This blog will provide an overview of a contractor’s lien rights when the contractor is not in privity with the owner, as well as the impact of James B.
How Covid-19 changed the face of the lending industry? The debt collections sector is facing several challenges, like many other sectors across Europe. Changing customer behavior due to the deterioration of their financial circumstances have led to an uptick in debt and collections activities as well. To navigate through uncertainty, creditors need to adapt their strategy quickly.
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.
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.
December mortgage rates forecast I expect mortgage rates to rise modestly in December, especially toward the end of the month. As we approach the end of 2021, bond traders will cash out so they can take a few days off without worrying about having to react to abrupt price changes. When the traders sell their. Holden Lewis writes for NerdWallet. Email: hlewis@nerdwallet.com.
A person is required to obtain a license to legally work as a contractor in Florida. Chapter 489 of the Florida Statutes and the Construction Industry Licensing Board sets forth the requirements for a person to obtain a contractor’s license in Florida, including the necessary application, education, experience, age, financial security, insurance, fees, and examination requirements.
How Covid-19 changed the face of the lending industry? The debt collections sector is facing several challenges, like many other sectors across Europe. Changing customer behavior due to the deterioration of their financial circumstances have led to an uptick in debt and collections activities as well. To navigate through uncertainty, creditors need to adapt their strategy quickly.
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.
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.
Wouldn’t it be convenient to wrap up the year with straightforward shopping advice? Alas, the retail landscape is still chaotic. So it’s hard to tell which products (if any) will be listed at an affordable price point this month. If you’re looking for the short answer as to what’s worth your dough, consider opting for. Laura McMullen writes for NerdWallet.
On November 5, 2021, the Occupational Safety and Health Administration (“OSHA”) published 29 C.F.R. 1910 , commonly referred to as the “vaccine mandate” and referred to by OSHA as the “ETS on Vaccination and Testing,” which requires private employers with over 100 employees to either mandate employees get vaccinated or undergo periodic testing for COVID-19 (“Mandate”).
Data Quality: What it is and how technology can improve it. Data is a burning topic in the business world these days and one of the most valuable assets a financial organisation has access to. However, to be useful, data need to be of high quality, otherwise it can have a severe impact on the decision-making process, and ultimately, on revenues. Poor data quality has a significant cost of $12.9 million on average per year according to Gartner.
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.
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.
As a small-business owner, building trust with customers and vendors is essential. One way to build that trust is by offering a certificate of liability insurance, which shows you have the necessary coverage to protect your business and the people it serves. What is a certificate of liability insurance? A standard certificate of insurance, or. Katherine Fan writes for NerdWallet.
Regulation F is now a reality. Collectors across the country have prepared as best they can and are now beginning to implement new compliance policies and procedures. But what about creditors? All creditor clients that use a third party agency should know about Regulation F. Are you (and more importantly, are your clients) ready for data maintenance and handoff procedures that will require a high level of trust and communication?
This article originally appeared on Radical FIRE and has been republished here with permission. . Many people are asking themselves: how much money should I save every month? We’re not talking absolute numbers, but a percentage of your income. How do you know that you’re saving enough? Let’s get to the answer today! When you’re looking to work towards financial security or financial independence, saving is how you’ll get there fastest.
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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