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When an accounts receivable ages past its due date, it is vitally important to take positive action, not only to maintain a healthy cash flow but to adapt to constantly changing market conditions. In our current economic times, a savvy management understands that managing the cost of doing business is vitally important. Cash is king. And too many delinquent accounts can bring your business to a standstill.
A recent decision from the North District of Illinois has expanded on the Seventh Circuit’s holding in Pantoja v. Portfolio Recovery Assocs., LLC , 852 F.3d 679 (7th Cir. 2017) regarding revival warnings in collections letters on time-barred debt. Pierre v. Midland Credit Management, Inc. , 2018 U.S. Dist. LEXIS 18860 (N.D. Ill. Feb. 5, 2018). The ruling resulted in summary judgment as to liability for a certified class of plaintiffs due to a collection agency failing to include a warning that p
Determining the credit-worthiness of a potential client can be a daunting task, even for seasoned professionals. A brand-new company with few assets might spoil you with glittering generalities and promises of prompt payment, but no assets can turn into aging receivables quicker than you think. Before you extend credit to a new client, it’s best to give them an in-depth review to ensure that your money isn’t getting thrown away.
By: Connie E. Carrigan February 27, 2018 On February 21, 2018, in the case of Digital Realty Trust, Inc. v. Somers, the United States Supreme Court unanimously decided that employees who raise internal complaints about possible violation of securities laws are not protected as whistleblowers under the Dodd-Frank Act. In order to obtain protection from retaliatory measures undertaken by their employers, such complaints must be reported to the Securities and Exchange Commission (SEC).
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?
Determining the credit-worthiness of a potential client can be a daunting task, even for seasoned professionals. A brand-new company with few assets might spoil you with glittering generalities and promises of prompt payment, but no assets can turn into aging receivables quicker than you think. Before you extend credit to a new client, it’s best to give them an in-depth review to ensure that your money isn’t getting thrown away.
Settle (verb): “to conclude (a lawsuit) by agreement between parties usually out of court. Merriam Webster Dictionar y The Third Circuit has refined its position as to whether collection of time-barred debt may violate the FDCPA where the communication involves an offer to settle. In doing so, the Court joined the Fifth, Sixth and Seventh Circuits in holding that, even absent a threat of litigation, offers to settle time-barred debts could mislead the least sophisticated consumer.
Settle (verb): “to conclude (a lawsuit) by agreement between parties usually out of court. Merriam Webster Dictionar y The Third Circuit has refined its position as to whether collection of time-barred debt may violate the FDCPA where the communication involves an offer to settle. In doing so, the Court joined the Fifth, Sixth and Seventh Circuits in holding that, even absent a threat of litigation, offers to settle time-barred debts could mislead the least sophisticated consumer.
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