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Compliance and Brand Protection: A Moving Target Reputable collection agencies specialize in navigating the ever-changing landscape of debt collection regulations. While the Fair Debt Collection Practices Act (FDCPA) sets a national baseline, many states have additional regulations that can be complex and constantly evolving. Keeping up with these changes internally can be a significant burden… The post The Role of Collection Agencies in Business Debt Recovery appeared first on Optio.
Managing debt is a top concern for Australian small business owners. And in this guide, we get straight to the point: offering real-world solutions for small business debt management Australia. Expect to find actionable steps, necessary legal know-how, and tools that fit the Australian economic landscape—enabling you to steer clear of debt and towards business.
Is the era of paying for things in full at once dying? Should collection agencies stop asking consumers to pay the balance of a debt in full? It might be worth considering, thanks in part to the growing popularity of Buy Now, Pay Later plans and increasing usage of split payments.
Are you facing the challenge of collecting a business debt in Queensland? In this article, we have put together essential information on navigating the regulated environment of debt collection Queensland, from understanding your legal rights to enforcing debt recovery and choosing a reliable collection agency. We give you actionable insights and clear, no-nonsense advice to.
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 bill has been introduced in both chambers of Congress that would mandate a 32-hour workweek — with no corresponding loss in pay — for full-time workers in the United States, as a means of allowing employees to share in productivity gains that technology has created over the past several decades.
Are you finding it challenging to get your clients to pay their invoices on time? Delays can be frustrating, impacting your cash flow and potentially causing financial strain. Several effective strategies can be implemented to streamline your payment process and ensure timely payments from your clients. Check out these five effective strategies to improve your payment process and boost your cash flow.
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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.
Are you finding it challenging to get your clients to pay their invoices on time? Delays can be frustrating, impacting your cash flow and potentially causing financial strain. Several effective strategies can be implemented to streamline your payment process and ensure timely payments from your clients. Check out these five effective strategies to improve your payment process and boost your cash flow.
Some people think of their health insurance as an assurance that they won’t ever have to face exorbitant medical care expenses. Unfortunately, catastrophic health conditions can quickly result in thousands of dollars in medical expenses, even for those who have insurance. People who are facing healthcare costs that are so high they can’t conceivably pay their bills may realize they have to do something before they drown in debt.
Suit Accuses Collector of Sending Text One Day After Plaintiff Opted Out Appeals Court Overturns Ruling in FDCPA Case, Says Plaintiff Lacked Standing Senators Encourage CFPB to Move Forward with Medical Debt Protections Fewer People Paying in Full WORTH NOTING: Tonight’s Mega Millions jackpot is nearly $1 billion.
Most attorneys should probably be ruled by their calendars, with law practices running on deadlines. That’s especially true for litigation firms, which take direction from court rules and judges about when and how things get done. Of course, the problem with just taking a final deadline, and dropping that onto the calendar ( like: attend a hearing, send a document), is that you’re usually left just triaging everything , at the very last minute.
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.
Florida businesses that collect substantial amounts of consumer data are often targeted by nefarious actors who seek to compromise confidential information that may be valuable for sale to those who aim to commit identity fraud. The resulting data breaches often lead to class action lawsuits. Data breaches and privacy litigation are increasing as businesses leverage technology and collect big data on their customers, clients, and patients.
If your company is struggling financially, it helps to have a broad understanding of the different business recovery options that are potentially available. But if your business needs urgent support, seek the support of experienced insolvency practitioners without delay. The total number of company insolvencies in 2023 was 25,158, the highest number since the year 1993 and 14% higher than 2022, according to The Gazette.
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.
Navigating the complexities of debt collection is an endeavor, even for larger Massachusetts businesses. At Law Offices of Alan M. Cohen & Associates LLC, our commercial litigation attorneys have more than 50 years of collective experience in commercial debt collection. Our success is directly related to our relentless, effective, yet ethical, collection strategies.
On March 5, 2024, New York State Attorney General Letitia James filed a lawsuit against Yellowstone Capital, a merchant cash advance company, for orchestrating a predatory lending scheme. The lawsuit also names Yellowstone’s founders individually, and 30 other subsidiaries and officers. The petition alleges Yellowstone exploits small businesses through fraudulent loans at “sky-high interest rates” disguised as merchant cash advances.
A judge in Washington has ordered a collection agency that was sued by the state Attorney General to pay $1.2 million in fees and fines after being found to have violated the state’s Consumer Protection Act when it collected payments from patients without providing them information about the existence of financial assistance programs.
When you have bills piling up and you’re dealing with notices from the Internal Revenue Service (IRS), it’s time to contact an attorney to learn more about your options. You may be wondering whether you should opt for a tax attorney or a bankruptcy attorney. This page addresses the most common questions about selecting the right attorney to help you address your tax problems and other financial concerns.
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 a debtor is delinquent, one of the biggest concerns for creditors is that the debtor doesn’t have enough money to pay what they owe. Securing an ex parte attachment to obtain pre-judgment security as part of a collections lawsuit can help to alleviate these concerns. At Law Offices of Alan M. Cohen & Associates LLC, our experienced, relentless and innovative commercial debt collection attorneys have over 50 years of collective experience.
In a recent speech at the Financial Data Exchange Global Summit, Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB), discussed the current state of open banking in the United States and emphasized the importance of standard-setting organizations in the transition. He noted that these organizations play a crucial role in ensuring that the system is open and interoperable but warned against the potential of standard-setting to be used in an anti-competitive manner to benefit
The Court of Appeals for the Third Circuit yesterday affirmed that trusts are covered persons and subject to the provisions of the Consumer Financial Protection Act and that the Consumer Financial Protection Bureau did not have to ratify this action before the statute of limitations expired in an interlocutory appeal.
For B2C lawyers, understanding their clients and the industries in which their clients participate , is essential for being able to convert leads and manage the attorney-client relationship. The good news is that business intelligence information is more readily available tha n ever before. It’s simply a matter of making the effort : to find it, and analyze it.
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 his State of the Union address Thursday night, President Joe Biden talked up his administration’s work to forgive the student debt of nearly 4 million people. “When I was told I couldn’t universally just change the way in which we dealt with student loans,” Biden said, “I fixed two student loan programs that already existed to reduce the burden of student debt for nearly 4 million Americans, including nurses, firefighters and others in public service.
On February 20, the Wisconsin Senate passed House Bill (HB) 574 to regulate earned wage access (EWA) products and services. HB 574 creates a new chapter to the Wisconsin Statutes that requires EWA providers to be licensed by the Division of Banking and imposes substantive and disclosure rules. HB 574 expressly exempts EWA offered by licensees under the new law from the licensed loan company provisions in Wis.
Appeals Court Upholds Ruling in CFPB Debt Collection Case Virginia Appeals Court Grants En Banc Rehearing in Debt Buying Case Appeals Court Dismisses Hunstein Copycat for Lack of Standing 25 Companies Seeking Collection Talent WORTH NOTING: Today is International Day of Happiness, so photographers were asked if pictures can make us happy … The 10 […]
This article was originally published in the March 20, 2024 edition of the New Hampshire Bar News You are on the witness stand in the Probate Court in a will or trust contest, your right hand raised as you get sworn in, readying to testify about a will or trust you prepared decades ago. Your paralegals or administrative support team who attested to your client’s signature have little-to-no memory or, worse, have long retired or moved away, leaving you as the sole witness who can speak to the cl
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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