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Despite what you hear, time never appears to be on your side. And certainly, everyone is looking to maximize their time. In terms of business management, that means that you’re always looking to inc rease the volume of cases you can take on, which you can do by increasing your utilization rate. But, this all starts with achieving a level of personal efficiency, because: if you can’t be efficient yourself, it’s very difficult to ask others, including your staff and associates, to be more efficien
Working with managing agents in New York? Here are some debt collection tips for when it comes to working with managing agents. Many of the buildings in New York are managed by an outside agent known as a managing agent. The managing agent receives a management fee in return for managing the building. Managing buildings as an agent is a business like any other – you get a fee for service.
Debt collection is about contacting customers, and that only works with correct contact data. Contact data quality in debt collection is a common challenge, and we often get asked how to best address this. 1. Get Contact Data Before You Need It. It is much easier to get valid contact data from your customers than from a third party. And updating contact data when you need to contact a customer as part of a collections process is typically much harder than in originations or account management.
A defendant in a Fair Debt Collection Practices Act case may have won the battle in having its motion for summary judgment granted for lack of standing, but could end up losing the war after a Magistrate Court judge granted a plaintiffs’ motion for Reconsideration, Correction, and Remand, sending the case back to state court. … The post Judge Grants Motion for Reconsideration and Remands FDCPA Case Back to State Court appeared first on AccountsRecovery.net.
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?
To inspire entrepreneurship in a community that is least likely to receive startup funding, we've shared inspiring quotes from Black entrepreneurs who've had to overcome hardships to achieve success. Some key findings in the research for that article included a diversity report that found that only one percent of venture-backed founders were Black. The U.S. economy benefits from Black entrepreneurs and investing in more Black-owned businesses will reap rewards for all Americans.
The best time to assign an account to a collection agency is when the debt is right around 90 days past due. Why? You have given your debtor at least three billing cycles to pay the bill and resolve any billing disputes that may have occurred. At 90 days your own efforts have been pretty much exhausted , and the account is clearly in the default territory.
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The best time to assign an account to a collection agency is when the debt is right around 90 days past due. Why? You have given your debtor at least three billing cycles to pay the bill and resolve any billing disputes that may have occurred. At 90 days your own efforts have been pretty much exhausted , and the account is clearly in the default territory.
The early days of Airbnb, like the early days of the internet, were full of promise. Here was a way for travelers to see the world while meeting hosts and enjoying authentic experiences, all on a shoestring. Yet this promise, like the promise of the internet itself, has been corrupted by greed, lack of competition. Sam Kemmis writes for NerdWallet. Email: skemmis@nerdwallet.com.
The “Getting to Know” series is sponsored by Applied Innovation. Applied Innovation is helping to shape the future of accounts receivable management. Product development is driven by customer feedback, agency profitability and compliance and includes platforms addressing client portal access, document management, payment negotiation, Regulation E focused electronic payment authorizations and TCPA communication authorization platforms. … The post Getting to Know Alicia Sundstrom
Today, the Consumer Financial Protection Bureau (CFPB) launched an initiative to save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies. Today’s request is a chance for the public to share input that will help shape the agency’s rulemaking and guidance agenda, as well as its enforcement priorities in the coming months and years.
Chapter 712 of the Florida Statutes, commonly known as the Marketable Record Title Act (“MRTA”) was enacted in 1963 with the goal of simplifying the transfer of property by extinguishing certain covenants and restrictions after thirty years. This poses a challenge for homeowners’ and community associations as it can inhibit their ability to govern the community, collect dues, and enforce restrictions.
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.
Labor shortages, shipping backlogs and slowed production — caused in large part by the ongoing coronavirus pandemic — have left business owners scrambling to source everything from couches and car seats to rubber and lumber. While current supply chain woes are unprecedented, they aren’t a complete anomaly. Supply chain disruptions are simply a fact of.
GETTING TO KNOW ALICIA SUNDSTROM OF FINANCIAL CREDIT NETWORK Thirty-seven years. At the same company. Starting as an outside sales person and moving her way up to now owning the company. Alicia Sundstrom is exactly the kind of success story that makes the accounts receivable management company so unique and so special. The opportunity for … The post Daily Digest – January 27.
According to Pew Research, 44% of people believe the financial impact of the COVID-19 pandemic is long-lasting. They believe it’ll take them three years to recover to pre-pandemic financial situations. Whether you’re in that group or don’t think the pandemic hit you financially, making financial resolutions for the new year can be a positive practice.
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.
High school graduates are forgoing free money for college by not submitting financial aid applications, according to a new analysis by the nonprofit National College Attainment Network. The Class of 2021 left behind $3.75 billion in Pell Grant aid by not completing the Free Application for Federal Student Aid, or FAFSA. An estimated 813,000 students.
The Court of Appeals for the Ninth Circuit has partially affirmed and partially reversed a lower court’s ruling in a Fair Debt Collection Practices Act case, determining that the District Court judge should not have granted summary judgment for a collection law firm that “expressly” informed an individual in a collection letter that any dispute … The post Appeals Court Partially Overturns Ruling for Defendant in FDCPA Case appeared first on AccountsRecovery.net.
Today, the Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies. The list identifies dozens of specialty reporting companies that collect and sell access to people’s data, including individuals’ finances, employment, check writing histories, or rental history records, often without their knowledge. Using the list, people can exercise their right to see what information these firms have, dispute inaccuracies, and file lawsuits if the firms are viola
Bookkeepers (and accounting firms who offer bookkeeping services), are perfectly positioned to add credit control as a core service. However many still shy away from this. It’s often dismissed as something too hard to implement or too time consuming once up and running – others simply haven’t even considered it. Bookkeepers already help clients with a range of financial and administrative services, adding a credit control service is a logical extension to this business.
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.
The late Pamela Hixon of Leipsic, Ohio, was eager to retire from her job running a hospice agency. Soon after she quit, however, Hixon spiraled into depression and anxiety. She sought help from counselors and her pastor, but it wasn’t enough. Six months after retiring, she took her own life. “She lost purpose, she lost. Liz Weston writes for NerdWallet.
BUFFALO, N.Y. — Alliant Capital Management, a professional debt collection agency with offices in Buffalo, NY and Chandler, AZ, is celebrating the holidays by sponsoring a family of five this Christmas. The items collected will go to providing everything needed for a local anonymous single mother to provide an enjoyable holiday for her family. The … The post Alliant Capital Management Adopts Family for the Season of Giving appeared first on AccountsRecovery.net.
Improving your call center operations is an ongoing struggle. You want to provide the best customer experiences possible but managing large teams and standardizing processes is hard. From acquisition to customer service to payment, there are many steps where the system can break down. Investing in workflow tools and the latest training techniques will make life easier for your customers and staff.
You’ve undoubtedly heard of bankruptcy. Some people swear they’ll never file bankruptcy, while others regularly use it as a tool. No matter which side you’re on, chances are you have heard of the term “non-exempt property.” But do you know what this is or why it matters? If not, it is time to read on and get some answers!
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 metaverse exploded into the public consciousness in October 2021 as Facebook, Inc. changed its name to “Meta” and announced multibillion-dollar investments in metaverse technologies. Despite the fanfare, Meta says metaverse technology is a decade or more away from maturity. In the meantime, small-business owners might want to take metaverse-related claims and investment opportunities with.
LENEXA, Kan., Jan 25, 2022 — TrueAccord Corporation, a debt collection company offering machine learning-powered digital recovery solutions, today announced results following the September 2021 rollout of Retain, the client-branded product that addresses early-stage recovery challenges for organizations with customers with delinquent accounts.
This article originally appeared on The Financially Independent Millennial and was republished here with permission. If you’ve been paying attention to the housing market recently, you will have noticed it’s on fire. From Seattle, WA, to St. Petersburg, FL, there isn’t a market that hasn’t been affected by the low mortgage rates and high millennial demand for housing.
Businesses using company or insolvency laws to mitigate their liabilities have been warned they could face ‘assertive action’ Anything unethical which unfairly benefits Businesses at the expense of their customers could face investigation by the Financial Conduct Authority. The FCA said it planned to act amid a rise in the number of firms developing proposals, like Scheme of Arrangements, to deal with hefty liabilities to consumers, in particular redress liabilities.
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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