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Delayed payments continue to plague suppliers, particularly Small Businesses, and unfortunately, the global pandemic has only worsened this pain point. This week’s B2B Data Digest looks at the latest stats in the fight against late payments, and finds several instances in which the COVID-19 crisis has exacerbated the late payments problem. 25 companies surveyed in the denim supply chain have revealed “destructive” behaviors from their corporate clients, according to a new rep
Risk and Reward are the two sides of almost every business deal. What are you risking if the deal doesn’t go well? What will you gain if it does go well? Does the reward justify the risk? In collections, we often have to weigh risk and reward and make similar calculations. When trying to decide what the riskier or safer course of action is, we consider not only the amount of money owed, but also the specific debtor company and management, the business sector and the economy in general.
If you or someone you know has dealt with a collection agency, you know how trying it can be. Debt collection agencies have a long history of harassment and illegal practices. Can a collection agency report to a credit bureau without notifying you? The answer might not be that simple. Knowing illegal debt collection practices can help identify when you’re being treated unfairly.
Dublin, Ohio—ezPay365, payment processing provider for the ARM industry, has named Ron Bonavita, Director, Sales strengthening our long-term commitment to the payments industry. In his new role, Ron will be responsible for expanding ezPay365’s market share, while developing new channels and markets. Ron has 15 years’ experience in business development, most recently with Sonnett/Palinode.
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?
This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. If you’ve ever wondered how your retirement savings stacks up against your peers, you’re in good company. The desire to know where you land.
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Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
You might have heard that bankruptcy gives you a clean financial slate, but that’s not exactly accurate. For those experiencing serious financial distress, bankruptcy can be a way to eventually restart. Depending on your financial situation, you can get rid of debts or restructure them. But this doesn’t give you a clean slate, especially on your credit report.
The “Getting to Know” series is sponsored by Arbeit. Arbeit is a powerful, and easy to use communications platform that empowers businesses to reach more consumers. Innovative by nature, we are constantly listening to and understanding the businesses we partner with and developing long term industry relationships that allow us to be proactive in anticipating … The post Getting to Know David Schultz of Hinshaw Culbertson appeared first on AccountsRecovery.net.
Baby boomers now owe the most student debt, according to new data from the financial services company Fidelity. Their average outstanding loan balance: $75,000. The research says that’s due in part to federal parent PLUS loans. According to the most recent data from the Department of Education, more than 3.5 million parents nationwide have these. Ryan Lane is a writer at NerdWallet.
When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. If the collateral is real property, the lender must liquidate all parcels of real property that has a Recoverable Value over $10,000. If the Recoverable Value is over $10,000, the lender must decide which method of liquidation is the most appropriate to maximize the recovery.
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.
Are you new to investing? Not sure where to start? Investing for beginners can be overwhelming. There are so many moving parts. With that said, we hope the process we’ll show you today will make it easier for you to get started. What follows are ten steps you can take to become a successful investor. Let’s get started. 1. Work from a Budget.
President-elect Joe Biden has chosen a name that will be familiar to many in the accounts receivable management industry to head the transition team overseeing the Consumer Financial Protection Bureau. Leandra English, the former deputy director of the CFPB has been tapped to lead a team of fellow volunteers whose responsibilities include “understanding the operations … The post Biden Names Former CFPB Deputy Director To Head Agency’s Transition Team appeared first on AccountsR
We’re primed to get suckered this holiday season. Tight budgets, wishful thinking that we can get a screaming deal if we hurry, and plain old impulsive spending are a dangerous mix. Scammers know this. One example: Clicking an online ad, maybe for an ornament featuring a Santa with twinkling eyes and a smile hidden under. Bev O'Shea is a writer at NerdWallet.
Pursuant to the Miller Act and Florida’s Little Miller Act, when certain subcontractors and material suppliers have not been paid on public construction projects, they must file their lawsuit on the payment bond within one-year after the last day labor was performed or materials were supplied to the project. § 255.05(10), Fla. Stat. ; 40 U.S.C. § 3133(4).
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.
On November 12, 2020, the Consumer Financial Protection Bureau announced a settlement with Afni, Inc. to address its violations in providing information to consumer reporting agencies (CRAs).
Performant Financial Corp. yesterday reported net income in the third quarter of $2 million, compared with a loss of $8.1 million during the same period a year ago. Revenue during the third quarter was $36.2 million, up from $35.9 million during the third quarter of 2019. During a conference call yesterday discussing the financial results, … The post Profits Up at Performant in 3Q, But COVID-Related Collection Challenges Remain appeared first on AccountsRecovery.net.
If you’re celebrating the holiday season at home this year because of the COVID-19 pandemic, then you probably aren’t using up your travel rewards points. Instead of watching those points languish, consider turning them into holiday gifts — you can stretch your budget while taking advantage of new offers from credit card issuers. Amid the pandemic, Kimberly Palmer is a writer at NerdWallet.
Conducting site visits are an important aspect of servicing SBA loans. Site visits allow lenders and CDCs to gain a first-hand impression of the borrower’s business operations, evaluate risks, and inventory the collateral. Frequent site visits help lenders and CDCs make prudent lending decisions by keeping them up-to-date with the condition of the collateral and the borrower’s business operations.
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.
For anyone who was on yesterday’s webinar will confirm, there is a difference between good collectors and great collectors. Great collectors not only make you — and themselves — a lot of money, but they do it compliantly, they enjoy mentoring newer, less-experienced collectors, and are willing to go above and beyond. Mary Shores, in … The post How to Develop Great Collectors appeared first on AccountsRecovery.net.
Job loss, business failure, involuntary retirement, divorce, disability or the death of a breadwinner — these are just some of the ways our finances can force us to come up with a Plan B. That’s never as simple as downloading a list and ticking off completed assignments, however. Checklists can be helpful, for instance when. Liz Weston is a writer at NerdWallet.
I am always glad to see headlines like this one, which ran last summer in The New York Times: “ How to Reduce Credit Card Fraud.” But a few minutes into it, I was disappointed by some of the misinformation in the article: “I learned two things from discussing my experience with fraud experts: Even if you’re careful, your credit card information will probably be stolen at some point.
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.
Congress needs to enact laws expanding consumer protections against abusive debt collection, the U.S. Supreme Court unanimously ruled in 2017. Tennessee residents may have heard about the case, which involved a class action filed by several people who defaulted on car loans. Defendant debt collector Santander Consumer USA Holdings ultimately prevailed because it was not collecting money on behalf of a third party.
GETTING TO KNOW DAVID SCHULTZ OF HINSHAW CULBERTSON David Schultz was born to be a lawyer and even if given the chance to choose a different career, he can’t see himself wanting to do anything else. That likely explains his illustrious career representing companies in the accounts receivable management industry and why he has been … The post Daily Digest – November 12.
This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. If your eyes glaze over when hearing the term “index funds,” you’re forgiven. But the dull, mathematical spirit of index funds is part of. Chris Davis is a writer at NerdWallet.
In today’s digital and mobile-friendly world, identity theft is a concern consumers must consider. A 2020 identity theft study revealed that identity theft fraud reached $16.9 billion in 2019. Identity theft affects victims of all ages and situations, and this concern grows each year. Find out more about how to protect yourself against holiday identity theft below.
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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