Nexa Collect
JUNE 10, 2023
AI, or artificial intelligence, has the potential to impact the field of debt collection significantly. Debt collection involves pursuing individuals or businesses to repay outstanding debts. Here are some ways AI can be used in debt collections: Automated Communication: AI-powered chatbots can handle initial interactions with debtors, engage in conversations, and answer frequently asked questions.
FFGN COLLECT NY
JUNE 14, 2023
When a debtor owes a creditor money and the creditor is seeking assistance collecting the amount owed, the creditor can either use a collection law firm or a collection agency. Law firms and collection agencies serve the same purpose initially. Both can send a demand letter and call the debtor to request the outstanding amount owed. Should the debtor refuse to pay and it becomes time to file suit, the collection agency will have to engage a third-party law firm to file suit.
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NACM
JUNE 14, 2023
Listen to the latest episode of NACM's Extra Credit podcast to learn how automation can help credit departments navigate the spike in bankruptcies. ?️ With the pandemic free-money era officially coming to an end, many businesses on the margin are starting to struggle. As a result, corporate bankruptcies are on the rise. Commercial C.
Account Recovery
JUNE 12, 2023
What should a collector do when he or she makes a mistake and the consumer doesn’t notice it? See all the Training Bytes videos by clicking here.
Speaker: Anna Tiomina, MBA
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?
American Profit Recovery
JUNE 14, 2023
Deciding to use a debt collection agency can be a big step for a business. Many business owners and other decision-makers have a number of questions they want answered before deciding to take that next step with an accounts receivable program. They want to know that they made the best decision possible for their organization. Of course getting late and non-paying customers to the table is a top concern, there can be other concerns that a business of any size wants to address before taking the ne
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Nexa Collect
JUNE 12, 2023
Reducing unpaid medical bills is a significant challenge for both healthcare providers and patients. The issue can strain healthcare systems, lead to increased costs, and negatively affect patients’ financial health. Here are some strategies that can help in reducing unpaid medical bills: Clarity and Awareness : Communicate with patients about healthcare services’ costs and the importance of health insurance.
Account Recovery
JUNE 13, 2023
In what many in the accounts receivable management industry fear is a nightmare scenario, plaintiffs who lose cases in federal court, especially if found not to have standing to sue, then turn and file the exact same case in state court, hoping the threshold to have standing is lower and therefore making it more likely […]
American Profit Recovery
JUNE 11, 2023
It’s June 2023 and household debt just set an all-time record. And it could affect every business in the country. The New York Federal Reserve issued a report in May 2023 that indicated a new record in household debt. Americans have racked up over $17 trillion in debt. And that should concern every business owner, entrepreneur and anyone responsible for accounts receivables.
Prosperity Now
JUNE 15, 2023
This June, families across the country are celebrating fathers and father figures in their lives. The yearly question of what to get dad for Father's Day will come up, and many kids will begin crafting and signing homemade cards.
Speaker: Melissa Hurrington
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.
Credit Corp
JUNE 12, 2023
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. A personal loan is money borrowed from a lender that can be used for almost any purpose, from debt consolidation to home improvement projects.
Account Recovery
JUNE 16, 2023
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?
PDC Flow
JUNE 13, 2023
PDCflow is excited to announce the launch of our brand new Insights Report. Insights reporting is the free, enhanced reporting tool from PDCflow designed to help managers, executives, and other decision-makers better understand their organization’s payment processing. Through the Insights Report, anyone who needs access to reporting and analytics can: track payment performance monitor trends at a glance sort and view reporting info by desired data factors Benefits of Insights Insights reporting
Collection Industry News
JUNE 12, 2023
Introduction: Managing debt is an essential aspect of running a business, and effective debt collection is crucial for maintaining healthy cash flow and financial stability. Implementing proper debt collection techniques can help businesses recover outstanding payments while maintaining positive relationships with clients. In this article, we will explore some effective strategies for businesses to improve their debt collection processes and increase their chances of successful debt recovery. 1.
Speaker: Susan Richards
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.
Credit Corp
JUNE 12, 2023
While there’s no set number for how many credit cards you should have, having too few or too many may negatively affect your credit score by impacting your credit utilization or creating difficulties tracking your payments and balances. There’s no set rule on how many credit cards are too many as it depends on several factors, like credit health, age, income, and utilization ratio.
Account Recovery
JUNE 16, 2023
The Court of Appeals for the Third Circuit has affirmed a lower court’s ruling awarding the defendant in a Telephone Consumer Protection Act case $286,064.62 in attorney’s fees, costs, and expenses while vacating an additional award of $73,884.
UK debt collections
JUNE 14, 2023
London landlords face prolonged delays in the eviction process as bailiff operations are suspended indefinitely due to unspecified ‘health and safety reasons’. This move is reportedly causing an immediate and significant impact on evictions, with one bailiff reporting an 80% decrease in their workload. The understanding is that the safety concerns arise from the need for bailiffs to be accompanied by additional personnel while attending properties, to ensure their safety.
Jimerson Firm
JUNE 16, 2023
Technological advances have made telemarketing easier than ever. When utilizing automated telemarketing systems, with a single click of a mouse, businesses can place thousands of phone calls and send tens of thousands of individual text messages. With the same click of a mouse, Florida businesses can unknowingly subject themselves to hundreds of thousands of dollars of liability.
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.
Credit Corp
JUNE 12, 2023
The Fannie Mae Flex Modification Program (FMP) is a mortgage assistance solution designed to relieve borrowers facing financial hardship. Are you looking to improve your mortgage management but don’t know where to start? Handling mortgage payments is challenging, especially if you’re facing economic difficulties and don’t know where or how to get financial assistance.
Account Recovery
JUNE 16, 2023
The Court of Appeals for the Ninth Circuit has upheld — albeit in a split decision — a medical debt collection law in Nevada that was enacted in the wake of the COVID-19 pandemic, ruling that the law is not pre-empted by either the Fair Debt Collection Practices Act or the Fair Credit Reporting Act, […]
Burr Forman
JUNE 16, 2023
In Milgram v. Chase Bank USA, N.A. , F.4th , 2023 WL 3874276 (11th Cir. June 8, 2023), the Eleventh Circuit affirmed the district court’s dismissal of plaintiff’s FCRA claim based on the bank’s alleged failure to conduct a reasonable investigation into a consumer’s dispute after the consumer provided proof of a criminal judgment in an identity theft matter.
Fico Collections
JUNE 16, 2023
Home Blog Feed test Customer Management Trends: Hyper-Personalization, Trust, & More These were some of the top customer experience themes, breakouts, & ideas from FICO World 2023 Thu, 02/09/2023 - 10:49 Pawel Pasik by FICO expand_less Back to top Fri, 06/16/2023 - 10:25 FICO World 2023 was a hugely successful event, with more than 500 leading companies gathering at The Diplomat in Hollywood, FL to discuss top market trends, best practices, and innovative ideas in digital transformation.
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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.
Credit Corp
JUNE 14, 2023
How long someone has bad credit depends on how long they continue to create negative credit activity. Almost as soon as you start making credit-improving moves, you may see positive impacts in your score. However, old negative activity can still haunt your report for a while after you start improving your credit situation. Luckily, you can still have a decent or even excellent score with negative marks on your report.
Account Recovery
JUNE 16, 2023
Human Rights Watch, an international non-governmental organization, has issued a blistering report that calls out the United States for allowing “abusive medical billing and debt collection practices” that undermine human rights through the use of a “profoundly flawed” system. A copy of the report, titled “In Sheep’s Clothing” can be accessed by clicking here.
Taurus Collect
JUNE 15, 2023
Are you a business owner struggling to properly manage accounts receivable and collect past-due payments? It’s no surprise that debt collection is an increasingly competitive field, so understanding and leveraging the right tools could give your company the edge it needs. Debt collection agencies are transforming how courts handle delinquent accounts, making their services a valuable asset for businesses large and small.
Fraser
JUNE 15, 2023
A pet trust is a legal document that allows you to provide for the care of your beloved pet if you become incapacitated and after you pass away. A pet trust can be created as a standalone document, or as part of a revocable (living) trust or will. In addition, a durable power of attorney can provide instructions to an agent for the care of a pet during your lifetime.
Speaker: Debra L. Robinson
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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