American Profit Recovery
JUNE 16, 2020
By Sabrine: After graduation, I applied for several different positions until I received a phone call from American Profit Recovery (APR). I had no schema of the collection industry or what the position entailed until I walked into the doors and it was explained thoroughly. To sum it up, a day as a collection specialist here consists of helping consumers pay their debts with a customer service approach.
Enterprise Recovery
JUNE 19, 2020
If your business works with another business, you or your accounts receivable department likely has some idea of the efforts to collect on past due accounts. Reasons for late payments could be as simple as a misplaced invoice or as challenging as being affected by a global pandemic. Whatever the reason, positive cash flow and working capital is important to keep the lights on and your employees paid.
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Nexa Collect
JUNE 19, 2020
Concrete Pumping companies often run into overdue accounts receivable. Pumps, belts cost, fuel, staffing costs, and equipment maintenance cost a lot, therefore unpaid AR can hurt the finances of a pumping company dearly. These receivables are usually B2B accounts that require commercial debt collection. A collection agency with its three-step collection process can assist businesses to recover money in an amicable manner.
Arbeit Software
JUNE 19, 2020
Facilitating professional development and training is a great way to invest in your agency's greatest asset, your collectors. We spoke with Mary Shores , a second generation debt collection agency owner, who shared her call scripting methodology and ways for leaders to empathize with collectors to set them up for success during and after COVID-19.
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
Sawin & Shea
JUNE 18, 2020
If you’re filing for bankruptcy, you might be assuming that you’ll lose your house and personal property. This is rarely true. Many people keep control over their assets through the use of bankruptcy exemptions, which are special rules that allow people who are filing for a Chapter 7 bankruptcy to keep certain property if its value is less than the amount of the exemption.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nexa Collect
JUNE 17, 2020
In retrospective dental clinical cases, restorations have played a rather unique role in alleviating pain and discomfort for the patients. A standard restoration may take up to a few appointments to complete which is the first major flaw that overshadows traditional restorative dentistry. As dentists, it gets exhausting to work on complex dental restorations as it would the patient to keep booking appointments to see their dentists every other day.
Prosperity Now
JUNE 15, 2020
Racial inequalities in homeownership are crucial to understanding the racial wealth divide. According to the St.
The Kaplan Group
JUNE 15, 2020
A 2019 report found that millions of Americans did not have enough money to survive missing even one paycheck. Well, it’s 2020 now, and we’re in the middle of an international pandemic. A pandemic that has caused millions of Americans to miss that one paycheck, and more. So, it’s no surprise that people are falling behind on their bills, and that some people have received calls from a collection agent.
Credit Corp
JUNE 14, 2020
Zombie debt is exactly what it sounds like. It’s debt that’s already dead and shouldn’t be living on your credit report. But for whatever reason, it’s risen from the grave and chasing you down. Find out what you need to know about zombie debt and how to deal with it. How Does Zombie Debt Happen? The most common cases of zombie debt involve collection activities.
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.
True Accord
JUNE 18, 2020
TrueAccord’s Chief Compliance Officer and General Counsel, Tim Collins, joins host Joann Needleman, Practice Leader & Member at Clark Hill PLC to discuss the evolving world of debt collection. The inaugural episode of the podcast includes discussions around: The digitization of debt collection practices How industry practices are adapting to the COVID-19 pandemic The need for companies to adopt these changes before it’s too late.
PDC Flow
JUNE 16, 2020
When call centers recently had to turn to remote work to stay running, many were doing so as a short-term arrangement. Companies are finding now, however, that a remote call center staff is sustainable in the long-term and can cut costs on office space. With this new type of work culture emerging, it’s time to fine-tune cash flow management within your remote workforce to maximize productivity and revenue.
On Guard
JUNE 19, 2020
5 key success factors for the smooth implementation of a credit management strategy. Credit management strategies are a vital aspect of any business. They allow them to manage their cash flow by devising processes and policies which prevent the late or non-payment of invoices. An ineffective strategy can impede a business’ growth. Therefore, it is crucial to ensure the smooth implementation of a credit management strategy.
Payment Savvy
JUNE 18, 2020
According to analysts, in 2012, it was observed that SWIFT facilitated up to $6 trillion per day. In 2015, more than 6.1 billion payment instructions were sent through the network. Today, it is the world’s most significant electronic payment tracking system. However, contrary to what most people think, SWIFT does not do any of the fund transfers.
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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.
True Accord
JUNE 19, 2020
Due to regulatory concerns and a general wariness of adopting new technologies, the debt collection industry has historically been slow to change. As companies across other financial industries continue to make it easier for consumers to access their own finances, that resistance may finally be waning. Point of Sale finance companies like Affirm and Afterpay are making it simple for consumers to pay for more expensive goods in installments.
NCBA Law Practice Management Blog
JUNE 17, 2020
For years, law firms have been able to access reduced overhead expenses, across a number of categories, including office space, about which we wrote last week. But, that cost reduction can extend to technology and staffing, as well -- especially since technology upgrades often lead to workflow automation, which often reduces the size of staff, or focuses existing staff on more important, less rote tasks.
On Guard
JUNE 18, 2020
Coronavirus Crisis: 3 Tips for an Effective Data-Driven Credit Management Policy. These are uncertain times. Lately, it’s become impossible to switch on the news without hearing about the coronavirus crisis, economic recession or the rising number of bankruptcies. However, while things are no doubt challenging at the moment, it’s likely that the biggest blow is yet to come.
FFGN COLLECT NY
JUNE 17, 2020
A recent decision by the NY attorney general resulted in New York vacating 29,617 default judgments obtained by Northern Leasing. New York’s four-year crusade against Northern Leasing, a deceptive company, and its collection attorneys ends with a victory for business owners affected by their practices. The victory may be bittersweet however, as many of the affected businesses went under due to improperly entered judgments and the results that followed when the judgment creditor executed against
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Arbeit Software
JUNE 16, 2020
We’ve curated a list of five virtual conferences, webinars & in-person events (happening towards the end of 2020) for real estate and mortgage professionals to attend surrounding COVID-19, technology transformation, the state of the housing market, and marketing during times of uncertainty.
Payment Savvy
JUNE 16, 2020
Debt collection may sound simple; a consumer owes outstanding monies, so you reach out to collect on the past due balances. However, it’s not that easy, especially for third party collectors. Every word matters in debt collection phone calls. The right words can get an individual to pay their debts. In the same vein, the wrong word choice could open your agency to liability.
On Guard
JUNE 15, 2020
Data-driven credit management: four important considerations. Data and the insights that are derived from it offer organisations many benefits. For example, data-driven credit management can help to reduce the days sales outstanding (DSO) and help credit managers to create a better understanding of risk profiles. Unfortunately, buying the right credit management solution doesn’t automatically make you data-driven.
Collections Law
JUNE 15, 2020
Businesses work extensively on credit, but every now and then, there are disputes concerning the payments of debts. The Massachusetts Mechanic’s Lien Statute is a law that helps safeguard contractors’ and suppliers’ “investment” in a construction project’s improvement. Whether it is a redesign or any other type of renovation project, the suppliers of materials and/or labor have the right to place liens on the property in order to help safeguard their payments.
Speaker: Genevieve Hancock, CPA
Cash flow isn’t just about balancing numbers - it's about ensuring your organization is positioned for both immediate stability and long-term success. Understanding that cash flow management fuels every decision, every opportunity, and every growth phase is critical. But how can you shift from simply managing cash to strategically optimizing it for resilience?
Micro Bilt
JUNE 15, 2020
The restrictions put into place to alleviate the health crisis have lasted a lot longer than initially believed.
JMA
JUNE 15, 2020
Business cash flow is one of the most important aspects of running a business and one way of improving this is by changing your payment terms with your supplier. Here are 6 helpful tips that will give you a better chance of getting an improved payment term from a supplier: Find Ways to Develop a. Read more » The post Improve Payment Terms with Suppliers with These 6 Helpful Tips appeared first on JMA Credit Control.
Albuquerque Law
JUNE 17, 2020
If you were to take a survey about credit card debt, it would be unlikely that you'd find any participant who could say they have never experienced it. Most people in New Mexico and throughout the country have had a balance unpaid on their credit cards at some time or another. You've probably noticed in your own financial history how personal economics fluctuate.
NACM
JUNE 19, 2020
U.S. housing starts have started to rebound; however, they are still well below the data from a year ago. Housing starts increased 4.3% in May, according to this week's announcement from the Census Bureau and Department of Housing and Urban Development. Yet, this is 23.2% below May 2019. Housing starts were at a seasonally adjusted rate of 974,000.
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Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
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