Enterprise Recovery
JULY 13, 2020
We're all months into this pandemic and doing our best to work outside the office. Whether you're working on your own business at home or working for someone else, time management can be a challenge amidst distractions like children and chores. The "new normal" is to accomplish everything that you did before even. while. you. keep. getting. interrupted.
American Profit Recovery
JULY 14, 2020
By Derek: Approximately four months ago, our company made the decision to close the office due to Covid-19, and provide all the employees with computers so they could continue to work from home. It was a drastic change at the time. Everyone was uncertain of what the future held for us, as well as what issues may arise from the switch to working from home.
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Nexa Collect
JULY 13, 2020
As a dentist, you have chosen a fulfilling line of work that is constantly evolving. Dentistry has made rapid strides with innovation and advancements in technology over the years, so the learning curve of this professional always remains steep, fully engrossing you in the process. While being a dentist is an honorable profession, it is also highly competitive.
Debt
JULY 16, 2020
The storm is coming. American consumers will be filing personal bankruptcies in record numbers by the end of 2020. That is the projection from bankruptcy attorneys, bankers and other experts who project that the COVID-19 era will lead to a historic financial tsunami. “Tsunami, hurricane, flood, bloodbath … there are a variety of words you […].
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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.
Enterprise Recovery
JULY 17, 2020
Owning a small or medium business can be especially frustrating when your clients are paying late or not at all. It's good to note that how you respond to these situations will affect the success of the debt collections and if you can retain the client as a customer. In this post, we will offer tips to ensuring your invoices are paid on time and we will share how and when you should send a business to collections.
Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Price Meese
JULY 16, 2020
Millennial Estate Planning During the Pandemic. The coronavirus is surging among millennials. As states reopen across the country, the New York Times reported that people in their 20s, 30s, and 40s account for an alarmingly growing proportion of the spread. States that reopened earlier in the year are experiencing drastic increases in their infection and hospitalization rates.
Sawin & Shea
JULY 15, 2020
When you’re considering Chapter 13 bankruptcy, you’re also wondering how much of your debt you’d be obligated to pay back. Plus, you need to know how much time and paperwork it will take. Let’s take a look at a debtor’s obligations under Chapter 13 bankruptcy. This could be an excellent choice for you, depending on your situation. What Is A Chapter 13 Bankruptcy Plan?
Credit Corp
JULY 13, 2020
After months of searching, planning and saving, you’re finally ready to apply for a mortgage. You think you have all your ducks in a row—you have great credit and a killer history of making your loan payments on time. But there’s one small hiccup. A lender noticed that you’ve had a recent, slightly unusual cash deposit in your bank account. Even though the cash deposit is perfectly explainable, it still stalls the mortgage process.
Jimerson Firm
JULY 15, 2020
Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. See Coast Fed. Savs. & Loan Ass’n v. DeLoach , 362 So. 2d 982, 984 (Fla. 2d DCA 1978). However, there is an exception where the commercial landlord retakes possession of the premises for the benefit of the tenant.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Prosperity Now
JULY 13, 2020
The Challenge Challenge 1: Racial Wealth Gap Black and Latinx households now own just 10 cents and 12 cents of
UK debt collections
JULY 16, 2020
New research shows that there has been no real improvement in the speed at which Large companies are paying their suppliers. The research conducted by Accountancy firm Moore has shown that 41 days is the average waiting time for payment. This is the same as it was in 2015. The past five shows that despite initiatives to curb the problem, no real progress has been made with large companies just ignoring all legislative initiatives.
Credit Corp
JULY 14, 2020
What do you need your credit score for? In a nutshell, a lot. Credit cards, loans, mortgages, APR, even renting an apartment—whether or not you qualify is based largely on your credit score. If your credit is less-than-ideal, you know it can make your life just that much harder. Having a bad credit score can hold you back. It can keep you from feeling in control of your life.
PDC Flow
JULY 14, 2020
What will the Seila decision mean for the ARM industry and the pending debt collection rule? The only concrete takeaway from last month’s Supreme Court decision in the case of the Consumer Financial Protection Bureau (CFPB or Bureau) v. Seila was that the CFPB remains a federal independent agency whose director will now answer to the President. What is still unknown is the status of past CFPB actions like supervision, enforcement and rulemaking, especially the debt collection rule, which was sti
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Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
Prosperity Now
JULY 12, 2020
As our nation grapples with the COVID-19 pandemic and the senseless murders of Ahmaud Arbery, Breonna Taylor, George Floyd and
Debt Recoveries
JULY 16, 2020
Recessions, virus epidemics or even just company-specific problems, can all dent the cash-flow and threaten the very existence of your business. The best way to increase cash-flow is to collect your outstanding debts (account receivables). So here’s some tips,from a debt collector, on increasing cash-flow by doing your own debt collection. Follow this guide and watch your bank balance increase!
Public Citizen
JULY 13, 2020
by Paul Alan Levy. The New York state trial judge who initially granted a temporary restraining order against both Mary Trump and Simon & Schuster declined late today to extend that order into a preliminary injunction. Faced with a welter of arguments put forward by both the defendants in the case as well as by the Reporters Committee for Freedom of the Press and by Public Citizen as amici curiae, Justice Greenwald appears to have accepted almost all of the reasons argued on the defense side
The Kaplan Group
JULY 15, 2020
If collection agents like me are calling you, you need to reduce your debt. The Covid-19 pandemic has been hard on a lot of businesses and business owners. People who have never been late with a payment in their life are suddenly facing a pile of bills. To avoid your account being sent to collections, you need to find ways to reduce your debt. 1. Prioritize your bills.
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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.
Re:Ceeve
JULY 16, 2020
In our previous blog post , we discussed the economic potential of millennials, their debts, attitudes and habits. We also dove into how their insatiable desire to live in the digital world is an important factor for designing business models that aim to cater to this upcoming generation. In this post, we explore the details of the strategies which banks and debt collectors ought to adopt, and what they risk by delaying and denying these changes in their business models.
Better Credit Blog
JULY 14, 2020
When you apply for a loan or bank card, the lender will request a copy of your credit report to evaluate your risk. By applying for the loan in the first place, you are authorizing the lender to receive a copy of your credit report from one of the three major credit bureaus. Each time this happens, it is known as a credit inquiry and can affect your credit score.
True Accord
JULY 13, 2020
Debt collection is a highly regulated industry and as such, is notoriously slow to change. While there are a number of reasons for this , the end result is a growing gap between consumer’s expectations and the services creditors offer. . TrueAccord’s recent report, Consumer Debt in the Age of COVID-19 , found that during times of economic uncertainty, this gap can grow even wider.
Fraser
JULY 16, 2020
Issues for Nonprofit Corporations During the Pandemic and How to Properly Conduct Remote Meetings. Listen to Fraser Trebilcock attorney Ed Castellani discusses nonprofit matters relating to restarting operations after the COVID-19 lockdown. Click HERE to learn more about our practice involving corporations and limited liability companies. Click HERE to learn more about our nonprofit organizations practice.
Speaker: Lynnette Khalfani-Cox, The Money Coach®
Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?
Consumer Finance
JULY 14, 2020
The Consumer Financial Protection Bureau filed a lawsuit against Townstone Financial, Inc., a nonbank retail-mortgage creditor based in Chicago, for violations of the Equal Credit Opportunity Act; its implementing regulation, Regulation B; and the Consumer Financial Protection Act.
Better Credit Blog
JULY 14, 2020
It’s a situation that no one wants to be in. You’re getting phone calls and letters from a company demanding that you make payments on an old debt. You may not even remember having the debt in the first place. But one thing is clear; this company is not going anywhere. First Financial Asset Management is one such company that may come after you for an old debt.
True Accord
JULY 16, 2020
Six months in, it’s safe to say 2020 is not the year that anyone expected. The worldwide spread of COVID-19 has ushered in a wave of unprecedented health and economic uncertainty that has rippled through every aspect of life. In our report, Consumer Debt in the Age of COVID-19 , we studied the impact this crisis has had on consumers so far and what it means for the months ahead, based on digital debt interaction data from more than 12 million consumers.
On Guard
JULY 17, 2020
Cash before breakfast! Why Cash Allocation is the top priority in your order-to-cash process. A best-in-class order-to-cash (O2C) software solution needs to be best-in-class at all stages of the O2C process if you are to ever zero down on your delinquent DSO days, maximise your AR cashflow position and collections efficiency index. But doing everything all at once is not typically the best way to go.
Speaker: William Hord, Senior VP of Risk & Professional Services
Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?
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