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In a recent PDCflow sponsored webinar on accountsrecovery.com , a panel of digital collection experts sat down to discuss the differences they’ve encountered in text messaging and email for debt collection. Shawn Farris, Brandy Rouselle, and Chris Repholz discussed which channels they each prefer and the strengths of each. They also covered how using SMS messages together with email for debt collection in a single strategy boosts engagement and builds trust.
Assessing Creditworthiness A Credit Controller are responsible for evaluating the creditworthiness of a potential or existing customer. They analyse data from sources such as credit reports, company accounts and past payment history, and use this to determine appropriate limits, control measures and payment terms. Credit controllers will make recommendations based on their findings.
We seek to freeze a debtor’s assets prior to obtaining a judgment so that there is an identifiable resource from which to get you paid. Once you get that judgment, we seek leave of the court to direct the person or entity which is holding the debtor’s seized assets to pay you. If your debtor owns a cash business, we may seek a “keeper attachment.
Today, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report which found unfair, deceptive, and abusive acts or practices across many consumer financial products.
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?
A bipartisan bill has been introduced in the House of Representatives that would require creditors establish a dedicated phone line to assist older Americans who may have been scammed or otherwise have questions about possible billing errors. H.R. 4743, the Reporting Instances of Non-authorized Grift (RING) Act of 2023, was introduced last week by Rep.
Our Clients’ Gateway to an Enhanced Experience We are thrilled to announce the launch of the Brown & Joseph -ARMStrong- Web Portal 2.0—an exciting and… The post Introducing the Brown & Joseph Web Portal 2.0 appeared first on Brown & Joseph, LLC.
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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.
Our Clients’ Gateway to an Enhanced Experience We are thrilled to announce the launch of the Brown & Joseph -ARMStrong- Web Portal 2.0—an exciting and… The post Introducing the Brown & Joseph Web Portal 2.0 appeared first on Brown & Joseph, LLC.
On July 24, the California Office of Administrative Law approved the Civil Rights Council’s (the Council) proposed amendment to California’s Employment Regulations Relating to Criminal History, which are set to become effective on October 1, 2023. Among other changes, the amendment modifies the existing regulations regarding employers’ investigation of a job applicant’s criminal history.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Paying off your car loan can lower your credit score, but the effects are usually temporary. Are you thinking about paying off your car loan early?
Attorneys Dale Golden, Charles McHale, Sangeeta Spengler and Joseph Proulx are joining forces with attorneys Xerxes Martin, Loraine Lyons, Patrick Watts, Heath Morgan, Jacob Bach, Matthew Bell, and Justin Han to create a highly experienced and geographically diverse law firm that will expand its support the accounts receivable management industry.
Large businesses and corporations that encounter nonpayment of business debt may assume that getting a court judgment against the non-paying company is all that is necessary. Unfortunately, that is not always the case. There are companies who will still withhold payment even after a court judgment. When they do, you need an attorney who knows how to collect on a judgment.
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.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. You can contact Equifax®, Experian®, or TransUnion® online, over the phone, or by mail to unfreeze your credit. The process is free, but it may take up to an hour to fully take effect.
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?
1 in 5 Home care providers facing collapse Dozens of home care companies in England fear collapse because invoices are going unpaid by councils and the NHS. Hundreds of millions of pounds in unpaid bills are threatening parts of a care industry already stretched by a recruitment crisis and rising wages, according to research by the Institute of Health and Social Care Management (IHSCM).
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 July 27, the Consumer Financial Protection Bureau (CFPB) released a new blog post , positing that cashflow data, broadly defined as the various inflows, outflows, and accumulated amounts in a consumer’s checking and savings accounts, may provide lenders with a better picture of a consumer’s ability to repay their loans than using a credit score. To perform its analysis, the CFPB used responses from its 2019 Making Ends Meet survey and the linked Consumer Credit Panel (CCP).
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off.
The march on standing at the District Court level has created a new dynamic — or at least the threat of a new dynamic — for collection operations, and that is facing Fair Debt Collection Practices Act cases in state courts.
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.
According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and the Telephone Consumer Protection Act (TCPA) were down for the month of June. This reverses the upward swing seen in these filings in May. Complaints filed with the Consumer Financial Protection Bureau (CFPB) were down in May and remained down for June.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Can you pay a loan with a credit card? Yes, paying a loan with a credit card is sometimes possible. Yet, whether or not you can do so depends on factors such as the lender’s policies or the type of loan you want to pay off.
The Connecticut Department of Banking has fined a collection agency $15,000 for operating in the state without a license, the second time the company has been fined for doing so. A copy of the order against Professional Debt Mediation can be accessed by clicking here.
Do businesses have to pay for defective goods they receive? Let’s say your company orders 1,000 vacuum cleaners from a distributor. You receive the vacuum cleaners and perform a general inspection. As far as you can tell, the goods seem in working order. Your company then proceeds to sell the vacuums to other buyers. After 30 days, you begin to receive calls from your buyers that the vacuums purchased no longer seem to be working.
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.
On June 6, Nebraska Governor Jim Pillen signed into law Legislative Bill 92 , which, among many other subjects, amends the Nebraska Installment Loan Act (the NILA). Previously, a license was required for a lender seeking to take advantage of the usury authority provided by the NILA and also for any person that holds or acquires any rights of ownership, servicing, or other forms of participation in a loan under the NILA.
Credit journeys begin with credit reports. With a copy of your report in hand, you can generate a plan: you can get out of debt, remove errors, or apply for great-value financial products, for example. If you don’t know how to do a soft credit check—or if you’re worried that you’ll damage your credit score by pulling a copy of your credit report—you’re in the right place.
CHICAGO — A frequent topic of conversation among attendees here at ACA International’s annual convention is where companies are finding quality job candidates these days and how they are managing with staffing levels that are well below what they would like to be.
An improvement in Small Business jobs and sales growth across UK small businesses in June has been largely offset by increasing late payments and a slowdown in wages growth, according to the latest data from global small business platform Xero. Xero’s Small Business Index, based on anonymised and aggregated data from hundreds of thousands of small businesses, rose three points across May and June, recovering slightly after falling by 11 points in April.
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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