Taurus Collect

DECEMBER 18, 2023

Professionalism : The agency should maintain professional communication with both you and your debtor. Here are some of the common methods used by business recovery specialists: Direct Contact : The agency initiates communication with the debtor via phone calls, emails, or letters, detailing the outstanding debt and urging prompt payment.

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ABI

JANUARY 22, 2024

Bankruptcy Court for the District of New Jersey held that dismissal of a chapter 11 reorganization proceeding was necessary under the Third Circuit’s recently articulated standards, because the debtor’s lack of immediate financial distress precluded the debtor from filing its bankruptcy petition in good faith. [2] 20] [1] 11 U.S.C.

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Taurus Collect

AUGUST 19, 2022

Recording your debtors’ “how to contact them” preferences is another fruitful way to ensure effective communication and collection. Boost your self-service capabilities. Thus, using self-service capabilities is an effective way to turn around and improve your debt collection processes.

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Qualco

JUNE 29, 2023

These methods limit your outreach capabilities and fail to adapt to your customers' evolving needs. To keep pace with the latest technology and meet the growing expectations of a new generation of debtors, it's time to adopt an omnichannel debt collection approach.

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Collections Banks Debtor Debt Management 58

Nexa Collect

AUGUST 6, 2020

Ask each agency to detail the security measures they use to guarantee your debtors’ data can’t be breached. Also, ask them if they have skiptracing capabilities. This technique leverages multiple cross-referenced databases to find debtors that have “skipped” town to avoid collection.

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Fico Collections

JUNE 16, 2022

In order to deal with the rising cost of living and other challenges, anyone managing collections portfolios and effective debt recovery strategies needs these capabilities. Implemented specific segmentation and treatment strategies for debtors. Do you have the right tools and capabilities to do these six things well?

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Debt Free Colorado

MARCH 3, 2023

Are My Creditors capable of appealing My Bankruptcy? This type of bankruptcy enables the debtor to combine their debts, reach an agreement on a lower overall number and submit to a three-to-five-year plan for debt repayment. Are My Creditors capable of appealing My Bankruptcy? What Can’t Bankruptcy Do?

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Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Sawin & Shea

JANUARY 18, 2024

Debtors with a steady income create a court-approved repayment plan spanning three to five years. The debtor works closely with a bankruptcy trustee to create a manageable repayment plan, and upon successful completion, any remaining eligible debts are typically discharged. What is Chapter 13 Bankruptcy?

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PBWT

JULY 1, 2021

Supreme Court declined to revisit the rigid Brunner standard for determining “undue hardship” capable of discharging student debt. But, the Bankruptcy Code includes an exception to the student-loan exception, where failing to relieve such debt “would impose an undue hardship on the debtor and the debtor’s dependents.”

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Student loans Student Loans Debtor Bankruptcy 68

Collections Law

MAY 7, 2021

It is all too common to see a deadbeat debtor make every effort possible to hide assets and other information in an effort to avoid paying you, either partially or in full. Another process we use to learn about your debtor’s assets is supplementary process. The debtor’s failure to appear in court can l result in a warrant for arrest.

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On Guard

FEBRUARY 2, 2021

The fintech leaders have also started the new year strong with the recently announced acquisition of Dutch scale-up, Outstanding24, adding an innovative cloud solution for efficiently organising debtor management for SMEs to its portfolio. Organisation goes from strength to strength under new branding while making new hires.

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On Guard

FEBRUARY 23, 2021

Increased capabilities. With CreditManager, it is possible to import the current master data of debtors and outstanding invoices to gain an overview of daily and administrative tasks and credit management processes. On a daily basis, CreditManager imports the current master data of debtors and outstanding invoices.

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Collection Industry News

JULY 12, 2021

The court concluded that because an internal reference number embedded in a bar code is “a piece of information capable of identifying [Morales] as a debtor,” its disclosure was a concrete harm. Preferred Collections and Management Services, Inc. , In Morales v. The case now heads back to the District Court to continue the litigation.

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Taurus Collect

OCTOBER 20, 2022

Thus, bolstering your collection capabilities and implementing top-notch digital debt collection services can prepare your business to effectively address any delinquencies that might arise due to traditional collection strategies. A digital debt collection system efficiently identifies your debtor’s needs and expectations.

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Taurus Collect

APRIL 9, 2024

Typically, they operate through a series of communications with debtors to gather information, negotiate payment arrangements, and, when necessary, escalate the collections process. Late payments can severely impact your Business’s cash flow and operational capabilities.

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On Guard

DECEMBER 9, 2022

But by combining lots of (un)structured data from different sources, it is possible to use the data as a basis for informed decisions and predicting customer or debtor behaviour. Predictive: the second dimension is predictive capability. This is where you make a real difference as an organisation.

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Credit Management Debtor Acquisition Financial services 52

On Guard

DECEMBER 9, 2022

But by combining lots of (un)structured data from different sources, it is possible to use the data as a basis for informed decisions and predicting customer or debtor behaviour. Predictive: the second dimension is predictive capability. Imperceptibly, we have been working with data for years, that too is nothing new.

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Credit Management Debtor Acquisition Financial services 52

Payment Savvy

APRIL 21, 2021

The ARM industry provides a WIN-WIN for both creditors and debtors. By hiring a collection agency, creditors receive revenue that might otherwise be labeled a bad debt, and debtors receive a fair and compliant process to settle outstanding monies owed. Software and tools were needed to track debtor accounts accurately.

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PDC Flow

JANUARY 29, 2024

It also allows your agency time to prepare collection debt settlement letters with appropriate dates and owed amounts, so the notices arrive to debtors around the desired date. PDCFLOW FOR DIGITAL COMMUNICATION PDCflow offers email and SMS message capabilities that can make your debt settlement campaigns even easier.

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Taurus Collect

MAY 2, 2022

However, a good collection agency can offer various complex collection capabilities, including skip-tracing, which helps in identifying people’s whereabouts, data modeling to prioritize accounts, and optimizing contract rates. Boosts your cash flow. Inability to maintain a steady cash flow is a common reason for business breakdowns.

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Collection Agencies Collections Agency Collections Debt Recovery 52

Fraser

SEPTEMBER 28, 2020

If you’re owed money by a bankrupt debtor, you likely have to file a claim. A creditor must take care to ensure that the claim amount listed on the debtor’s schedules is accurate and the claim is scheduled against the right debtor (in cases involving more than one debtor entity). Do You Have to File a Claim?

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Debt Recoveries

DECEMBER 14, 2020

Slow paying debtors means more cash is locked-up so you cannot use it to pay your own bills and staff; this is usually the biggest contributor to bad cash flow. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily. Get a good bookkeeper/accountant and pay them well.

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Public Citizen

JULY 6, 2020

“With the government-debt exception severed, the remainder of the law is capable of functioning independently and thus would be fully operative as a law. So good news for debtors, especially those in the throes of the COVID-45 pandemic.

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Debt Recoveries

AUGUST 29, 2021

Slow paying debtors means more cash is locked-up preventing you from using it to pay your own bills and staff; this is normally the biggest contributor to poor cash flow. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily. . Solvency . Finances . Creativity .

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Taurus Collect

DECEMBER 20, 2021

Unfortunately, there will always be debtors who think it’s a better option to skip town and disappear into the night rather than pay their bills. Skip tracing gives debt collectors access to technology that helps them locate debtors who have not provided a forwarding address. Trusted Debt Collectors will have Insurance.

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Katabat

MARCH 9, 2021

Debtors/consumers had unemployment shock almost immediately followed by stimulus and forbearance relied, a zig-zag defined in “weeks/months” not ever really seen before. There are many smart and capable companies out there building products to help the industry stay ahead of these changes. Industry players were hit from all sides.

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Debt Recoveries

MARCH 26, 2020

Slow paying debtors means more cash is locked-up preventing you from using it to pay your own bills and staff; this is normally the biggest contributor to poor cash flow. Debtors paying sooner will create a faster flow of cash so you can reduce your borrowings, or fund growth more easily. Can you pay your bills as they fall due?

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Debt Recovery Debtor Collection Agent Collection Agencies 52

Collections Law

SEPTEMBER 24, 2020

Many debtors try to hide from their obligations, especially if they owe monies to numerous parties. When dealing with shady and delinquent debtors such as these, it is crucial to have a quick and effective plan of action. Is your business owed money? The faster you move collecting commercial debt, the higher your chances of success.

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Collections Law

SEPTEMBER 24, 2020

Many debtors try to hide from their obligations, especially if they owe monies to numerous parties. When dealing with shady and delinquent debtors such as these, it is crucial to have a quick and effective plan of action. Is your business owed money? The faster you move collecting commercial debt, the higher your chances of success.

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Debt Recovery Lawyers Collections Commercial Collection 40

National Service Bureau

SEPTEMBER 30, 2015

Automated Telephone Dialing Systems (ATDS, “autodialers”) are a type of electronic equipment that are capable of automatically dialing telephone numbers ( making a phone call without a human being physically typing in the number ). On one hand, creditors have a right to receive payment for good and/or services provided to debtors.

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Accounts Receivables Management Debtor Collections Collection Agencies 40

Nexa Collect

AUGUST 30, 2020

Intensive collection tactics also raise the probability of a counter lawsuit from debtors. Contrary to popular belief, a dental collection agency should ideally be instructed to engage in moderate or diplomatic collections since intensive techniques can tarnish the reputation of any medical practice, dental office even a small business.

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On Guard

DECEMBER 8, 2020

Equipping the accounts receivable team with the right technology can enable organisations to reduce debtor days and time spent on disputes and customer segmentation, decrease impact on margins, and bring the credit controllers and sales teams together. There are many benefits of doing so.

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On Guard

DECEMBER 8, 2020

Equipping the accounts receivable team with the right technology can enable organisations to reduce debtor days and time spent on disputes and customer segmentation, decrease impact on margins, and bring the credit controllers and sales teams together. There are many benefits of doing so.

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The Kaplan Group

JANUARY 7, 2021

This varied toolbox includes more automated strategies, such as the use of a predictive dialer, IVR capabilities and speech analytics. We changed our collection tactics to be understanding of Covid’s impact on debtors and build relationships so our clients would be at the top of the list for payment.

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Re:Ceeve

JUNE 23, 2020

For example, if a customer is suffering from financial hardship and their account falls into arrears, current banking collection processes simply don’t have the capability to pivot. We find this somewhat worrying, and we urge banks to stem this inflow by rethinking their underwriting standards and engaging with distressed debtors.”.

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Loans Banks Acquisition Collections 78

On Guard

JULY 19, 2021

Technology solutions available today allow businesses to proactively manage their risks, accelerate their collections processes and manage debtors and disputes. But transforming the order-to-cash process in isolation is not enough. Similar issues arise when it comes to AI and ML.

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National Service Bureau

MAY 6, 2015

Oftentimes the debt is completely out of the debtor's control. In order to work in medical collections an agency must have technical infrastructure in place capable of securely storing, transferring, and otherwise handling private information. Medical collections are a sensitive subject.

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