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In a previous blog just over three years ago, we discussed then-nascent technology – including artificial intelligence (AI) and Robotic Process Automation (RPA) – and its potential to shake up the credit management process for suppliers. So how far have we come and what obstacles remain for digital transformation? Big data and AI. These two developments were widely expected to have the greatest impact on the order-to-cash process and professionals still cite them as having the most potential goi
With digital lending via neobanks and fintechs on the rise, consumers have more options than ever for obtaining loans. There are a lot of considerations for these digital financial providers when building their business models, but one important and often-overlooked strategy is recovery for delinquent accounts. We sat down with TrueAccord’s Chief Growth Officer, Sheila Monroe , who has held numerous executive-level positions at TrueAccord on top of a multi-decade career in collections, to learn
An average collection agency will recover about 20% of the total debt assigned. Some clients may get a 100% recovery rate, for others it could very well be 0%. Here are the most important factors which decide how much a collection agency will collect for you: 1. Collection Agency itself: A collection agency that follows a friendly approach makes persistent contacts, follows legally complaint tactics , yet a firm approach will recover maximum money.
The Department of Veterans Affairs has published a final rule detailing how delinquent debts owed to the VA are reported to credit reporting agencies. The new rule, which establishes a minimum threshold for what will be reported, goes into effect on March 4. About 5,000 delinquent accounts are reported to credit bureaus each month, according … The post VA Sets New Threshold For Reporting Medical Debt to Credit Bureaus appeared first on AccountsRecovery.net.
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?
Unpaid invoices are the worst! While it's easy to react negatively to your late or non-paying clients, each invoice may require its own way of dealing with it. You can start proactively, including establishing a consistent invoicing process and following up as quickly as possible. However, if you're lacking the resources or your prevention strategy isn't working, it's time to try something new.
An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased a larger than usual 10.973% this time for new cases filed on or after April 1, 2022. Follow this link for the Federal Register page with a chart listing all of the updated dollar amounts.
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An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased a larger than usual 10.973% this time for new cases filed on or after April 1, 2022. Follow this link for the Federal Register page with a chart listing all of the updated dollar amounts.
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. One of the easiest ways to manage your money better this year is to hit the follow button on. Alana Benson writes for NerdWallet.
JUDGE GRANTS MSJ FOR DEFENSE IN FDCPA CASE OVER CALLS TO CONSUMER’S GRANDMOTHER After already granting a motion to dismiss on one claim that a collector violated the Fair Debt Collection Practices Act when it contacted a plaintiff seeking to collect on a debt that was actually owed by her granddaughter, a District Court judge … The post Daily Digest – February 2.
An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased a larger than usual 10.973% this time for new cases filed on or after April 1, 2022. Follow this link for the Federal Register page with a chart listing all of the updated dollar amounts.
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.
Record-low housing inventory, high prices and low mortgage rates made an interesting backdrop for the 2021 real estate market. Millions fought tooth and nail to close on homes throughout the year, but millions more were unsuccessful in their attempts. The 2021 housing market was booming, but that doesn’t mean buying a house was a breeze. Elizabeth Renter writes for NerdWallet.
After already granting a motion to dismiss on one claim that a collector violated the Fair Debt Collection Practices Act when it contacted a plaintiff seeking to collect on a debt that was actually owed by her granddaughter, a District Court judge in Florida has granted the defendant’s motion for summary judgment on the remaining … The post Judge Grants MSJ for Defense in FDCPA Case Over Calls to Consumer’s Grandmother appeared first on AccountsRecovery.net.
The Consumer Financial Protection Bureau (CFPB) today published a review of the financial issues facing people and families who come in contact with the criminal justice system.
An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased a larger than usual 10.973% this time for new cases filed on or after April 1, 2022. Follow this link for the Federal Register page with a chart listing all of the updated dollar amounts.
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.
Travel can be expensive, whether it’s high gas prices during your road trip or increasing travel demand causing hotel and airline costs to rise. But it doesn’t have to be as costly as you might think with these tips for saving money on travel. How to save money while traveling 1. Pack light Packing light. Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com.
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers. This is merely meant … The post 24 Companies Seeking Collection Talent appeared first on AccountsRecovery.net.
Historic English Football club is reported to have racked up huge debts according to reports. Derby County’s debts are said to be more than a staggering £60m according to reports via Sky Sports News. A trusted source has told the Sky Sports News channel that they have never seen such a high level of unpaid debt at any Championship league soccer club.
According to the Consumer Financial Protection Bureau, around 45 million consumers in the United States are “credit invisibles”—people who do not have scorable credit records. It’s a financial state that can make it more difficult to do things such as get loans, qualify for affordable car insurance, or even get a job. Discover more about the credit invisible below and whether you’re one of them.
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.
When you buy life insurance, you’re buying assurance that when you die, your insurer will pay out a sum of money to your loved ones. That number is known as your policy’s face amount, or face value, and it affects how much you’ll pay in premiums. While it usually stays the same, there are a. Katia Iervasi writes for NerdWallet. Email: kiervasi@nerdwallet.com.
Nearly one-third of people plan on using checks and cash less this year than they did last year or not using them at all, according to the results of a survey conducted this month to understand consumers’ payment preferences. The survey, conducted by Onbe, revealed that 74% of consumers prefer using digital options when making … The post Consumers Continue Abandoning Cash, Checks for Digital Payment Options appeared first on AccountsRecovery.net.
The construction industry is the latest sector to brace itself for a spike in Insolvencies. The ever increasing cost of labour and materials is adding weight to rising numbers of insolvencies. In addition, building contractors being tied to fixed-price jobs and the end of covid support are all being blamed for the spike. The industry has been warned to expect more firms to go bust after the latest official figures showed the number of contractors going under has gone up by a quarter.
At the start of every new year, people set goals. Many of the most common resolutions set during the new year are financial in nature. For instance, some people resolve to pay off their debt before the year ends. Others want to decrease their spending and save money. If you’re one of those people who want to save money, decreasing your car insurance premium is one way to get closer to your financial goals.
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.
Millennials have long been at the mercy of economic events, from the Great Recession to crushing levels of student loan debt. But thanks to the Great Resignation that began in 2021, this generation is experiencing its first brush with power and opportunity in the job market. Millennials are midcareer and have more negotiating power than. Amrita Jayakumar writes for NerdWallet.
The Chairwoman of the Federal Communications Commission yesterday announced the release of a Declaratory Ruling that classifies ringless voicemail messages to consumers’ cell phones as calls under the Telephone Consumer Protection Act, meaning that consumers would have to provide their consent prior to receiving such messages. The Ruling — which must be approved by the … The post FCC Chair Seeks to Classify Ringless Voicemails as Calls Under TCPA, Requiring Consumer Consent app
Credit card debt can be debilitating. When your bills are more than you can handle and you are struggling to get by, debt relief options can help. However, it’s important to understand that there are various forms of debt relief, and they are not all right for everyone. If you are drowning in debt but aren’t sure which option is right for you, it can help to consult with an experienced lawyer.
With unpaid invoices stalling post-covid financial recovery for many small businesses, we have complied a list of 6 top small business debt collection tips. We have drawn on the kind assistance of leading Small Business Debt Collection Experts Federal Management to advise on the best way to make telephone calls. If your small business invoices remain unpaid, you need to step out of your comfort zone to ensure you get paid.
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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