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4 consumer myths about debt collections DEBUNKED

American Profit Recovery

Payment plans allow the consumer to get on with their lives and even continue to do business with the creditor that has not been paid. Most issues are resolved when people can get along and have meaningful and constructive conversations. Payment plans are always an option for a consumer in collections.

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When a Company Goes Into Administration or Liquidation Who Gets Paid First?

Hudson Weir

Those the business owes money to are known as creditors. In this blog, let’s look at which creditors are paid first if the organisation ultimately becomes insolvent and its assets are sold to repay the balance due (a winding-up or liquidation). Secured creditors include leasing companies and banks.

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Debt Collection Now and Post-Covid

Nexa Collect

A large number of creditors are stuck with unpaid invoices, and as their own efforts fail they tend to submit more accounts to collection agencies. However, during the recession, even the collection agencies find it hard to recover money as people have no funds to pay off their bills. Reporting information to build a reliable database.

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What Happens If I Get a Job After Filing Chapter 7?

Sawin & Shea

The sad reality is that many people hold misconceptions regarding bankruptcy filers. This form of bankruptcy differs from Chapter 13, which involves the evaluation of your current income to construct a three-to-five-year debt reorganization plan. So, what happens if I get a job after filing Chapter 7?

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They Didn’t Sign the Contract – Do We Still Have a Deal?

Jimerson Firm

When the deal is done and the parties shake hands, people are mostly optimistic that the other party will perform as agreed. In James Register , the parties entered into a construction contract, but neither party signed it. Both parties completed the construction, and the subcontractor filed suit. Lopez-Silvero , 827 So.

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Offering Mortgage Relief When Payment Holidays End

Fico Collections

million consumers — taking advantage of payment relief, the onus is on us to identify these customers and offer them constructive support through this crisis. Ultimately it is in everyone’s best interest to get as many people as possible back on track with their finances. With one in six of all mortgage holders — that’s 1.9

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Walking Man: How Do You Oversee a Distributed Workforce?

NCBA Law Practice Management Blog

They oversee staff by walking around the office, to randomly check in on people, like Lumberg from ‘Office Space’. Now, this will take some effort on your part: if you’ve never actually constructed workflows for your cases, organized by case types, it’s time to do so. Lawyers tend to manage in place.