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When it comes to collecting commercial debt, you have many options. The best path for your situation may depend on several factors. The experienced commercial collection attorneys at Law Offices of Alan M. Cohen LLC have been helping businesses successfully collect outstanding debt since 1994. The first major question we must ask is whether we will pursue an attachment to the debtors assets before we have a judgment from the court, known as a prejudgment attachment.
Dealing with debt and financial issues can feel very isolating. You might feel like the only person struggling as you try to escape the pressures of debt. This isolation can make it seem like debt is not a common issue, or that bankruptcy is not a common solution. Is that true? What do the statistics say? Bankruptcy is more common than many people might believe.
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Beginner and experienced investors are navigating an uncertain investing environment affected by inflation, war and a pandemic.
PANEL ASSESSES IMPACT OF INFLATION AND RECESSION ON ARM INDUSTRY There’s beauty in finding connections that you didn’t know existed. There is the chaos theory analogy, for example, of a butterfly flapping its wings in Central Park, which is why it starts raining across the world in China. You never know the domino effect that … The post Daily Digest – May 13.
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?
Commercial credit analysis evaluates corporations to determine if they can pay their financial obligations. Although this is pre-engagement and on the front end of the A/R and collection process, it’s still an important part of any B2B accounting process. To help reduce delinquencies and bad debt write-offs, businesses should put focus on the front-end credit analysis process prior to contracting with a new client.
by Paul Alan Levy. The effort by the Watch Tower Bible and Tract Society (a/k/a Jehovah’s Witnesses) to identify a dissident member, "Kevin McFree ," through a spurious claim of copyright infringement has ended with a whimper rather than a bang as Watch Tower agreed to dismiss its copyright lawsuit with prejudice to avoid a possible claim for attorney fees.
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by Paul Alan Levy. The effort by the Watch Tower Bible and Tract Society (a/k/a Jehovah’s Witnesses) to identify a dissident member, "Kevin McFree ," through a spurious claim of copyright infringement has ended with a whimper rather than a bang as Watch Tower agreed to dismiss its copyright lawsuit with prejudice to avoid a possible claim for attorney fees.
What is a budget planner? A successful budget planner helps you decide how to best spend your money while avoiding or reducing debt. NerdWallet recommends the 50/30/20 budget, which suggests that 50% of your income goes toward needs, 30% toward wants and 20% toward savings and debt repayment. Create a budget plan that works for you The best. Lauren Schwahn writes for NerdWallet.
A collection agency’s involvement in a federal pay-to-play scandal has cost it an additional $25,000 after entering into a consent order with the Massachusetts Division of Banks. Penn Credit will pay the administrative penalty after notifying the regulator that its Chief Executive, Don Donagher, had pleaded guilty to felony charges of corruptly giving something of … The post Mass.
Today, the Consumer Financial Protection Bureau (CFPB) finalized an enforcement action against debt-relief payment-processors RAM Payment and Account Management Systems (AMS), as well as AMS’s co-founders, Gregory Winters and Stephen Chaya, for collecting debt-relief fees from consumers, lying to consumers about when the fees would be paid to debt-relief companies, and sending illegal advance fees to debt-relief companies before they were legally allowed to do so.
When someone owes you money, the law provides several ways for you to collect on the debt. A court may issue you a writ of execution to allow you to collect certain property from your debtor in order to satisfy the debt. At Law Offices of Alan M. Cohen LLC, our experienced commercial collection attorneys have helped many clients execute writs over the years in order to collect on a debt.
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.
For those among us who like a tipple after takeoff, consider this a sign that the world is healing: Many airlines are resuming in-flight meals and alcohol service. Early on in the pandemic, many airlines completely cut in-flight refreshment offerings (aside from perhaps a hasty water bottle delivery). Slowly but surely, airlines are reintroducing the.
A District Court judge in New York has granted a defendant’s motion for summary judgment in a Fair Debt Collection Practices Act class action case, determining that the plaintiff lacked standing to sue because he did not suffer a concrete injury after alleging the defendant violated the statute by sending a collection letter to the … The post Judge Grants Defendant’s MSJ in FDCPA Class Action Over Creditor ID in Letter appeared first on AccountsRecovery.net.
When you look at your financial situation and all you’ve done to try to correct it, you do feel like bankruptcy may be your only option. If you’re holding off on bankruptcy because you’re worried about who will be able to find out about it, then that might not be a good reason to do so. Realistically, while bankruptcies are public record, you probably won’t have to worry about people finding out about your financial situation.
The impact of increased late payment, business impacts of the covid pandemic and lockdowns have impacted on the mental health of Small Business owners according to FSB findings. In a survey by the Federation of Small Businesses (FSB) of 1,000 Business owners, 34% of Small Business Owners stated that their mental health had suffered over the duration of the pandemic.
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 partnership is the default business structure for a company with multiple owners. In a partnership, co-owners report their share of the business’s income and losses on their personal tax returns. A corporation, which is formed by filing articles of incorporation, is a legally separate business entity owned by shareholders. An elected board and board-appointed officers manage.
The Consumer Financial Protection Bureau yesterday announced the completion of an enforcement order against a pair of payment processing companies that worked with debt relief organizations — as well as the owners of the companies — ordering the defendants to pay $11 million in restitution to consumers and fines. The companies — RAM Payment and … The post CFPB Assesses $11M in Fines to Payment-Processing Companies and Their Owners for Role in Debt Relief Scam appeared fir
Today, the Consumer Financial Protection Bureau (CFPB) published an advisory opinion to affirm that the Equal Credit Opportunity Act (ECOA)—a landmark federal civil rights law protecting individuals and businesses against discrimination in accessing and using credit—bars lenders from discriminating against customers after they have received a loan, not just during the application process.
When you get your first credit card, one of two things can happen: You could keep your new credit card’s balance paid down and make on-time payments month after month to build credit. Or you can spend up to the credit limit and then face expensive finance charges that weigh down your credit utilization ratio and make building credit difficult. Option 1 can launch your journey to financial independence.
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.
A business plan can improve your chances of being approved for a loan by helping to persuade lenders that your business is worth investing in and that you have the ability to repay the loan. Many lenders will ask that you include a business plan along with other documents when submitting your loan application. When. Lisa Anthony writes for NerdWallet.
A company that bills itself as a negotiating service between consumers and banks and credit card companies has raised $12 million in Series A funding to fix the problem of paying bills, a process that the company says is “fundamentally broken” in the United States. The company, called Cushion, “reimagines the bill payment experience as … The post Bill Pay Fintech Raises $12M to Expand Operation appeared first on AccountsRecovery.net.
On May 3, the New York State Senate passed S5473D (Bill), which will apply immediately in all actions “in which a final judgment of foreclosure and sale has not been enforced.” ( See S5473D at Section 10.) This means that the new law applies retroactively, affecting future foreclosure actions and existing foreclosures, including those in which a judgment of foreclosure and sale has been entered, but the auction has not yet occurred.
In my recent experience, it’s not hard to remove judgments from your credit report as long as you follow the proper steps. Many readers assume it’s impossible to have the credit bureaus remove civil judgments because they involve the court system. In reality, the National Consumer Assistance Plan (NCAP) has made it more difficult for the credit bureaus to include civil judgments in your credit history.
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.
In the increasingly crowded market of cash-back credit cards, two popular cards stand out from the pack. The Chase Freedom Unlimited® and the Citi® Double Cash Card – 18 month BT offer both offer solid cash-back earnings, and neither card charges an annual fee. Chase Freedom Unlimited®: 1.5% back on purchases, with extra cash back. Gregory Karp writes for NerdWallet.
Decreasing supply of portfolios available to be purchased led to a marked drop in the amount of portfolio purchases by PRA Group in the first quarter of 2022, according to financials released by the company yesterday, while company Chief Executive Kevin Stephenson noted that, “if history teaches us a simple lesson, more is coming,” during … The post Portfolio Supply Remains Low, But Higher Default Rates are on the Horizon: PRA Group CEO appeared first on AccountsRecovery.net.
43.2 million people carry some form of student loan debt, with most averaging around $39,000 —although many of us have a lot more. If you’re reading this, chances are that’s you. Even with the recent White House announcement that the pause on student loan repayment, interest, and collections will extend until May 1, 2022, millions of people struggle with the amount of debt they owe from attending college.
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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