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Taking debt collection action quickly is important to increase the chance of recovering payment. The longer the process of chasing letters, emails, and calls is repeated, the less likely it is to recover the debt. If the debtor has been unable to pay, they may also owe money to others, who will also be attempting recovery action. Therefore, it is vital to act promptly to be the first in line to recover the payment.
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 22 Companies Seeking Collection Talent first appeared on AccountsRecovery.net.
Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com. The article What Is the Social Security Special Minimum Benefit? originally appeared on NerdWallet.
An Overview of the Webinar CICM East of England Branch Secretary William Plom, a Senior Manager at Hays Recruitment specialising in credit management presented the Credit Recruitment and Salary Trends for 2023, in an insightful webinar session. Referring to the results of the latest Hays UK Salary and Recruitment survey. William gave an overview of: The employment market Salary growth by sector since 2020 The comparison between Credit Management and the rest of Finance and between the private an
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?
Today, the Consumer Financial Protection Bureau (CFPB) launched an improved survey of credit card issuers that can help consumers and families compare interest rates and other features when shopping for a new credit card.
The Illinois legislature is considering a bill that would require hospitals screen individuals without health insurance before initiating any collection activity while also prohibiting the sale of medical debt. To help advance the legislation and bring attention to the medical debt problem in Illinois, the Illinois Coalition for Immigrant and Refugee Rights yesterday released a … The post Bill Introduced in Illinois to Ease Medical Debt Burden first appeared on AccountsRecovery.net.
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The Illinois legislature is considering a bill that would require hospitals screen individuals without health insurance before initiating any collection activity while also prohibiting the sale of medical debt. To help advance the legislation and bring attention to the medical debt problem in Illinois, the Illinois Coalition for Immigrant and Refugee Rights yesterday released a … The post Bill Introduced in Illinois to Ease Medical Debt Burden first appeared on AccountsRecovery.net.
As accounts receivables (AR) begin to fall delinquent, your business expenses could fall delinquent as well. With every late-paying client, cash flow for payroll, rent, or other vendors falls short, threatening your company's bottom line and growth. The effectiveness of your accounts receivable department may be one of the most important measurements to determine the success of your business.
Kate Ashford, CSA® writes for NerdWallet. Email: kashford@nerdwallet.com. Twitter: @kateashford. The article When Will Medicare Cover Medical Marijuana? originally appeared on NerdWallet.
The Consumer Financial Protection Bureau (CFPB) took action today against Portfolio Recovery Associates, one of the largest debt collectors in the nation, for violating a 2015 CFPB order and engaging in other violations of law.
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? Call … The post Trio of Reg F Class Actions Accuse Collectors of Not Including Validation Information in Letters first appeared on AccountsReco
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.
Spencer Tierney writes for NerdWallet. Email: spencer.tierney@nerdwallet.com. Twitter: @SpencerNerd. The article What Is FedNow? originally appeared on NerdWallet.
According to TransUnion , the total number of consumers that own a credit card account reached 166 million in the fourth quarter of 2022. That accounts for an increase of over 13 million over the last three years. Even with that many credit cards in circulation, though, not everyone can get one. Why can’t you get a credit card? It may have to do with your credit score.
The Court of Appeals for the Third Circuit has vacated a judgment on the pleadings in favor of a defendant and remanded a Fair Debt Collection Practices Act case back to the District Court in order to determine whether the plaintiff had standing to sue in the first place. A copy of the ruling in … The post Appeals Court Vacates Award for Defendant in FDCPA Case to Determine if Plaintiff had Standing in the First Place first appeared on AccountsRecovery.net.
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.
Cara Smith writes for NerdWallet. Email: cara.smith@nerdwallet.com. Twitter: @[link] The article Why Are Eggs So Expensive? originally appeared on NerdWallet.
As of the second quarter in 2022, Americans owed over $192 billion in personal loans, according to TransUnion ®. This was a 31% increase from 2021 and is thought to be due to the financial hardships Americans experienced during the COVID pandemic that overwhelmed the nation in 2020. If you’re one of the many Americans who took out a personal loan in early 2022, the good news is that interest rates were very low, according to the St.
PRA Group will pay more than $24 million in fines and restitution to consumers as part of a consent order announced yesterday by the Consumer Financial Protection Bureau for violating the terms of a 2015 enforcement order by engaging in a number of prohibited collection-related actions. A copy of the complaint in the case of … The post PRA Group to Pay $24M Under Consent Order with CFPB first appeared on AccountsRecovery.net.
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.
Steven Porrello writes for NerdWallet. Email: wpguestuser+sporrello@nerdwallet.com. The article 5 Stocks That Could Benefit From the Fed’s Rate Decision originally appeared on NerdWallet.
You have a right to an accurate and fair credit report. But people make honest mistakes, and sometimes the information on your credit reports isn’t right. That’s why there’s a process for TransUnion, Equifax, and Experian disputes. But what happens if your credit dispute is denied? You definitely have options, so keep reading to learn more.
Politics makes strange bedfellows, the saying goes. There might not be a stranger pair than Sen. Elizabeth Warren [D-Mass.] and Sen. Rick Scott [R-Fla.], who have joined together to introduce a bill that would replace the Inspector General at the Federal Reserve with an independent Inspector General who would be responsible for overseeing the Fed … The post Bipartisan Bill Introduced in Senate to Revamp Oversight of Fed, CFPB first appeared on AccountsRecovery.net.
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.
The economy took a wild ride in 2022, and with interest rates continuing to rise, inflation expected to remain relatively high and household savings dwindling, 2023 could be just as challenging. As consumers battle high inflation and interest rates to afford necessities, budgets will be stretched and many will have to prioritize when and where they spend.
Kate Wood writes for NerdWallet. Email: kwood@nerdwallet.com. Twitter: @[link] The article Mortgage Rates May Drop Despite Fed Rate Increase originally appeared on NerdWallet.
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. At the end of 2022, the Federal Reserve reported that roughly 43.5 million Americans have student loan debt, which totals over $1.7 trillion.
Most consumers don’t challenge medical bills they get from doctors and hospitals, according to the results of a recent poll. But of those who do challenge the bills, the majority of them are successful in getting the disputed charges removed or reduced. Nearly two-thirds of consumers have never challenged the validity or accuracy of a … The post Pushing Back on Medical Bills Yields Results: Survey first appeared on AccountsRecovery.net.
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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