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By Ian: Just over four months ago, I joined the customer service team at American Profit Recovery. I was immediately impressed by the warmth and helpfulness of my colleagues – I’ve enjoyed getting to know them and learning from them, and it’s easy to see why they get such great reviews from our clients. As someone who is new to the collections industry and new to customer service, I wasn’t sure what to expect when I started, other than that it would be unique compared to any work I had done befo
Credit management is a vital aspect of financial health for any business, influencing cash flow, profitability, and overall stability. Effective credit management ensures a company can meet its obligations to suppliers, employees, and creditors while maintaining the liquidity necessary for day-to-day operations. Let's explore how strategic credit management can propel your business toward sustained success and stability.
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 (855) WEB-RECON or email admin@webrecon.net today!
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?
Why should my business use a collection agency? That’s a question we hear often. The fact is there are enormous benefits to outsourcing your debt collections for a small business and even a larger organization. Having a reputable debt collection agency represent your business is one of the smartest moves you can make. It can improve your cash flow, save you time and money, and protect you from legal challenges.
One of the most stressful experiences for someone who has debts is hearing from the debt collectors. These creditors often use multiple ways to contact the debtor to demand payment. For a person who has too many debts and not enough income, filing for bankruptcy is one option they have to reclaim their financial future. One of the benefits of filing for bankruptcy is the automatic stay.
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One of the most stressful experiences for someone who has debts is hearing from the debt collectors. These creditors often use multiple ways to contact the debtor to demand payment. For a person who has too many debts and not enough income, filing for bankruptcy is one option they have to reclaim their financial future. One of the benefits of filing for bankruptcy is the automatic stay.
The number of overdue invoices in Scotland has reached its highest level this year, according to new research from R3, the UK’s insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe shows that businesses in Scotland had 538,172 unpaid invoices on their books last month – the highest monthly total in 2024 so far. Unpaid Invoices in Scotland Overdue invoices in Scotland increased by 27.7% in July 2024 when compared to July 2023’s figure of 421,501.
A District Court judge in New York has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class-action lawsuit, ruling that the plaintiffs’ claims were time-barred by the FDCPA’s one-year statute of limitations. The background: The plaintiffs claimed that the defendants attempted to collect student loans in violation of the FDCPA and New York state law.
The distribution of dividends is a common practice in businesses, rewarding shareholders for their investment in the company… But in this guide, we explain the difference between legal and illegal dividends. Dividends can be deemed unlawful if they’re paid out without consideration of a company’s financial situation or disregard the legal regulations governing them.
Debt collection can escalate quickly when a debtor refuses to pay. At Law Offices of Alan M. Cohen & Associates LLC, our aggressive and relentless commercial collections attorneys have more than 50 years of combined experience helping clients collect on unpaid debts. Our seasoned commercial collections attorneys understand the frustration of unpaid invoices.
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.
An East Grinstead contractor has successfully overturned a legal decision that found it was wrong to terminate its contract with a housing association over repeated late payments. The dispute arose from a JCT contract between Providence Building Services Limited and Hexagon Housing Association Limited (Hexagon) for the construction of buildings in Purley, valued at £7.2m.
Pennsylvania Attorney General Michelle Henry announced a $50,000 settlement with A.R. Building Company, a Butler County landlord, over allegations of unlawful billing, leasing, and debt collection practices. The settlement aims to rectify the company’s alleged violations and ensure compliance with state consumer protection laws. A.R. Building Company, which owns 20 apartment complexes across Pennsylvania, faced accusations of inflating repair costs billed to tenants and utilizing leases wi
In 2023, The World Bank’s warning that the global economy would come ‘perilously close’ to a recession became a reality. As we step into 2024 still navigating uncertain waters, financial outlooks are still predicting that we’ll see the symptoms of a stretched economy through sustained inflation and interest rates. This will undoubtedly continue to impact delinquency rates around the world.
Standing isn’t just for Fair Debt Collection Practices Act cases anymore. The Court of Appeals for the Sixth Circuit has affirmed a lower court’s ruling in a Fair Credit Reporting Act case, upholding that the plaintiff, who alleged a procedural violation by the defendant, lacked constitutional standing. The background: The plaintiff applied for an entry-level position with the defendant and received a conditional job offer, contingent upon the completion of a background check.
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.
Suit Accuses Six Collection Agencies, Two CRAs of Not Investigating Disputes Judge Uses FDCPA’s SOL to Grant MTD in Class-Action Penn. AG Reaches Settlement with Landlord Over Unlawful Billing, Debt Collection Tactics Appeals Court Affirms Ruling for Defendant in FCRA Case Over Plaintiff’s Lack of Standing WORTH NOTING: Ranking the best ever late-night-show bands … Taking the mailbox rule to new extremes … Ranking the cities with the highest average ATM fees … Ranking the most
I am thrilled to announce that the Getting to Know series will be sponsored by TEC Services Group in 2024. TEC Services Group is the leading technology and professional services firm in the credit collections industry offering both leading industry solutions along with unrivaled, unbiased, and experienced support. TEC is now extending its services by offering proven, industry-leading technology solutions alongside of our Professional Services to help Clients feel confident in their technology de
A District Court judge in Arizona has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act case, ruling the plaintiff — who is representing himself — failed to state a claim after filing suit because the defendant allegedly marked his account as disputed when he did not attempt to dispute the debt. The Background: During a conversation with a representative of the defendant, the plaintiff said “that it is not a good time to pay the debt” in q
The Consumer Financial Protection Bureau yesterday announced an enforcement action against Fay Servicing, a nonbank mortgage servicer, for repeated violations of mortgage servicing laws and a previous enforcement order. The company has been ordered to pay $5 million in penalties and restitution while also being forced to invest at least $2 million to update its technology and compliance management systems.
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.
Attorney representation can be a complicated situation for collection operations and even “taking the high road” can lead to a lawsuit, but a District Court judge in Washington has granted a defendant’s motion for summary judgment after it was accused of violating the Fair Debt Collection Practices Act because its representative refused to speak with the plaintiff in a not cut-and-dried situation.
A number of bills are moving through the state legislature in California, including one that would require commercial collectors to obtain the same licenses as consumer collectors, and one that would create a 12-month look-back period for courts to review funds paid to judgment creditors which could create chaos with respect to the order in which judgments are paid out.
As consumers increasingly turn to digital wallets for transactions, understanding the underlying payment methods they prefer is crucial for businesses, especially those in the credit and collection industry. Recent trends indicate a significant shift toward using debit cards within digital wallets, signaling a preference for financial discipline and immediate access to funds.
Judge Grants MSJ for Defendant in FDCPA Case Over Refusal to Speak to Represented Plaintiff Collection Bills Advancing Through California Legislature Debit Cards Dominate Digital Wallets as Consumers Prioritize Spending Discipline 22 Companies Seeking Collection Talent WORTH NOTING: The summer of 2024 doesn’t have one top song; it has two … A list of 16 things never to say to someone suffering from diseases like Alzheimer’s or dementia … Five of the top 10 least affordabl
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.
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 to be a service to aggregate industry job opportunities into one convenient location.
Collectors Facing FDCPA Class Actions Over Timing of Digital Communications Judge Upholds Jury Ruling for Defendant in FDCPA Case Over BK Search Appeals Court Reverses Decision for Defendant in FCRA Case Over Dispute Investigation Sharing More Comments on CFPB’s Proposed Medical Debt Credit Reporting Rule WORTH NOTING: Busting three common myths about infidelity … A hack that can keep you healthy and get rid of your hiccups at the same time … Don’t be one of the many vehicle ow
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 (855) WEB-RECON or email admin@webrecon.net today!
A District Court judge in New Jersey has denied a plaintiff’s motion for judgment notwithstanding the verdict in a Fair Debt Collection Practices Act case, ruling the jury did not act unreasonably when it ruled that the defendant had proved that it had reasonable procedures in place to scrub accounts to ensure the plaintiff had not filed for bankruptcy protection.
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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