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Debt collectors get an incredibly poor reputation, but they are invaluable to both businesses and individuals. While it may not be easy to see it this way, they provide a unique and important service. Many of those that reside in this profession may not want to even reveal to friends and family what they do for a living. They have a reputation of being harassers of everyone, but in reality, they are just doing their job and aiding businesses in getting their money back.
One of the secrets for a stress-free (and hands-free) accounts receivable process is using smart automation. Automated email reminders are a good start, however, extending this to include Automated Calls makes for a seamless, optimal AR process. The earlier our AR specialists can pick up the phone, the sooner they can resolve any issues and get cash flowing again.
A fundamental rule in bankruptcy proceedings is that prepetition claims are not paid without a plan or separate order of the bankruptcy court. Orders allowing payment of prepetition claims prior to the payments approved by a bankruptcy plan are very rare. One of these rare possibilities is the request to deem a creditor “critical”. Because this practice goes against the fundamental essence of bankruptcy law, movants must be prepared to meet specific criteria to prevail.
Remember that scene from the ‘Wizard of Oz’, where the guard at the gates of the Emerald City is very reticent to let Dorothy and her friends in, until he realizes who they are, and changes his tune ?? Well, consider yourself the green- moustachioed guard, and your law firm clients Dorothy Gale.? The only problem is, by the time you figure out who’s at your gates, and when you’re ready to help them, they’re already long gone.
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?
So you think your company could be insolvent ? You may have experienced times of financial uncertainty, but in this economic climate, many businesses have, too. Your business isn’t necessarily insolvent, but as a director, you must be aware of the insolvency warning signs. You risk being held personally liable for wrongful trading if you continue trading whilst insolvent.
Like many business owners, I struggle with Shiny Object Syndrome (SOS); the insatiable desire to chase something new – be it a new business idea, feature or goal – instead of focusing on what’s in front of me. Sure it’s more exciting and feels good, but it comes at a cost. For me, the cost was not focusing on existing parts of the business that had the potential to produce more fruit if given more love and attention, especially from me (the founder).
Like many business owners, I struggle with Shiny Object Syndrome (SOS); the insatiable desire to chase something new – be it a new business idea, feature or goal – instead of focusing on what’s in front of me. Sure it’s more exciting and feels good, but it comes at a cost. For me, the cost was not focusing on existing parts of the business that had the potential to produce more fruit if given more love and attention, especially from me (the founder).
Robert “RJ” Shannon, a talented bankruptcy counsel has joined Barron & Newburger as an attorney in its Austin Office. RJ will join the firm’s Bankruptcy and Reorganization practice group, where he will focus on business reorganization and bankruptcy litigation. For the last three years, Mr. Shannon has represented debtors, committees, trustees and creditors in bankruptcy litigation, and out-of-court workouts, and distressed acquisitions.
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