Debt Management: Signs This Is for You

Debt Guru

If you’re in debt in the US, you’re in good company. At the end of 2019, American household debt surged past $14 trillion (yep, that’s TRILLION with a “T”) for the first time. Most of this debt is in the form of mortgages, but credit card debt also hit a record high of $930 billion.

If Credit Card Relief’s a No-Go, Check Out Debt Management

Nerd Wallet

The article If Credit Card Relief’s a No-Go, Check Out Debt Management originally appeared on NerdWallet. As cardholders experience financial difficulties due to COVID-19, some credit card issuers are promoting their hardship programs.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

How Much Does a Charge Off Affect Your Credit Score?

Credit Corp

Because 35% of your credit score relates to paying your debts in a timely manner, becoming so late on payments that the account is charged off can have a significant negative impact on your score. A charge off occurs when a business writes debt off their books.

Consolidating Your Debt? Here’s What NOT to Do

Debt Guru

All the while, you feel like you’re no closer to zeroing out your balance on any of those debts. To get out of this frustrating and time-consuming loop, many people opt for consolidation to combine multiple debts into one. The post Consolidating Your Debt? Debt Management

Peering Over The Edge Of The Financial Cliff

Fico Collections

In the wake of the Global Financial Crisis, lenders in several markets were presented with an almost unprecedented increase in bad debts accompanied by a sharp drop in property prices. This assessment is made using a serviceability metric such as the debt to income (DTI) ratio.

Banks 75

Offering Mortgage Relief When Payment Holidays End

Fico Collections

In an earlier post – Eight Success Tips for Debt Collection in the Pandemic – I spoke about the practical steps that collections and recovery departments can take to help identify COVID-vulnerable customers, with guidance on both the right data to collect and the best practices to adopt.

An Office Manager? How to get AR solved and keep it solved.

Debtor Daddy

Why specifically is AR so difficult for an Office Manager to do? The post An Office Manager? Business Company Tips and Tricks cashflow chasing invoices customer relationships debt management debtor daddy invoice reminders Office manager Stacking the odds in your favour

Banks 52

Four Key Changes in Collections Since COVID-19 Struck

Fico Collections

From a cultural point of view, that's difficult to manage, and so we see a sector that had to rapidly move more into digital collection and we're now understanding more about this demand and how it can work. . Sometimes people think debt collectors are the bad guys, but that is changing.

Banks 52

Debt Relief Considerations After COVID-19 – Don’t Panic!

Fico Collections

The crisis did provide us with many important lessons and data points, which if used properly can help us manage collections and debt relief for the pandemic effects that we are facing now. Use self-service channels as much as possible to manage costs and workload effectively.

Banks 52

Katabat Attracts Significant Growth Investment from Tritium Partners and Terminus Capital Partners

Account Recovery

CESI: Consumer Education Services Inc. Review 2020

Nerd Wallet

offers many common credit counseling services by phone or online, including debt management plans, student loan counseling and housing counseling. Paying Off Debt Personal FinanceConsumer Education Services Inc.

Katabat Speeds Digital Debt Collections with Powerful EasyCollect Mobile Payment Portal


12, 2019 — Katabat, a leading global supplier of debt management software solutions, has launched Easy Collect, a powerful, yet easy to deploy, mobile payment portal for lenders and debt collection agencies. It delivers enterprise-scale functionality with a price point attractive for small to medium-sized debt collection agencies. To learn more about our full range of debt management products, contact Katabat at WILMINGTON, Del.,

2021 FICO Decisions Awards Now Open

Fico Collections

We invite companies that are achieving outstanding success using analytics and decision management solutions from FICO to submit their nominations for the 2021 FICO® Decisions Awards. decision-management Decision Management

Katabat Platform to Support SoFi Ominchannel Personal Loan Collections


3, 2019 – Katabat, a leading global supplier of debt management software solutions, today announced that SoFi, a leading personal finance company in the U.S., Katabat’s combined debt management and customer experience technology stack affords us the power and flexibility to help our members, as well as SoFi team members they are working with, resolve past due loans fast,” said Justin Parker, Senior Director of Loan Servicing, Collections and Recovery, SoFi.

Katabat 9.0 Delivers Enhanced Security and Payment Capabilities Latest release includes improved click-to-call performance, integrations to REPAY and BillingTree for payment processing


16, 2019 — Katabat, a leading global supplier of debt management software solutions, has delivered a significant release of its software, Katabat 9.0, We always focus on improving our clients’ experience with each major release of our debt collections software,” said Katabat CEO Ray Peloso. provides our clients a user-friendly, digitally-enhanced experience across the debt collection lifecycle.” WILMINGTON, Del.,

MP’s lobby Government for new Debt Collection Laws

UK debt collections

A mixed party collaboration of MP’s has written to the Chancellor requesting new legislative measures to reform the government’s debt collection practices. The 50 strong group of MP’s is urging chancellor Rishi Sunak to support the creation of a Debt Management Bill. The Bill would see an end to what the MP’s call ‘outdated regulations’ on the government’s debt collection practices. Debt Collection Economy

How Does a Debt Consolidation Program Work?

Titan Consulting

Debt consolidation might include a debt management repayment plan, credit card balance transfer, personal loan, or equity line of credit. Debt consolidation may not save you much money. Another month begins, and your debt balances are going nowhere. Key Takeaways.

CSA CEO Chris Leslie gives industry current state of play speech at MALG conference


in the collections and credit management market. s Debt Management function. On Thursday our Chief Executive Chris Leslie gave his presentation at the MALG National Members? Meeting, setting out his analysis of the current ?state state of play?

Katabat Attracts Significant Growth Investment from Tritium Partners and Terminus Capital Partners


The investment provides Katabat with significant resources to expand and enhance its industry-leading suite of debt collection products. Katabat is a recognized global leader in cloud-based debt collection managed service software products.

Meet Our 2021 FICO Decisions Awards Judges

Fico Collections

FICO has announced its panel of independent judges for the 2021 FICO® Decisions Awards which honor clients achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs.

Banks 52

Is Debt Settlement Legit?

Titan Consulting

Multiple state and federal agencies strictly regulate the debt settlement industry. All types of debt relief programs come with negative consequences, including non-profit credit counseling and bankruptcy, and will directly or indirectly negatively impact your credit score.

Katabat 9.0 Prepares Clients for the Future of Debt Collection

Mike D'Andrade

Better Measurement : Increased ease of capturing email campaign results to evaluate the success of tactics and campaigns. Katabat’s full suite of debt management solutions help lenders, financial institutions and debt collectors streamline communications and optimize engagement throughout the entire debt collection lifecycle. Prepares Clients for the Future of Debt Collection appeared first on Katabat. This week we released version 9.0

How to Repay Debt: 4 Options

Debt Guru

So, you’ve got a bunch of unsecured debt. You’ve been managing it, for the most part, but you’re finally fed up. You’re more than ready to start living debt-free. There are many different approaches for tackling debt repayment. The best fit often depends on the amount of debt you’re shouldering, the amount you need to pay off, and the other regular expenses you have. But that could also be a positive, if that’s what got you into high debt to begin with.

Katabat Appoints Guy Abramovitz as New CFO: Veteran Finance and Consulting Leader to Support Strategic Growth


Wilmington, DE — January 23, 2020 — Katabat, a leading global supplier of debt management software solutions, recently hired Guy Abramovitz as chief financial officer. Prior to VPP, Abramovitz worked for several national accounting and consulting firms, specializing in transaction services. “I’m excited to join Katabat as it continues to transform customer experiences within the debt collection industry,” said Abramovitz.

Breaking BAD | A day in the life of an Onguard Collections Agent

On Guard

Breaking BAD | Big Aged Debt. According to the CICM, the most important report for any credit manager is the Aged Debt report. The bigger and older the debt the bigger the risk. Review new Aged Debt dashboard and shape of debt from the previous day and vs target.

Fast and Effective Ways to Pay Down Debt

Debt Guru

Are you heavy in debt and need to get out from under the burden? Is debt limiting your options in life and you need a way out? Debt has a way of creeping up on all of us, especially when we least expect it. 5 Simple Effective Strategies for Paying Down Your Debt.

Need to Know About Debt Negotiation and Settlement?

Sawin & Shea

If you’re dealing with debt and considering filing for bankruptcy, it’s a good idea to get professional legal advice on how to handle the proceedings. Whether or not you file for bankruptcy also depends on the kind of debt you have. How Does Debt Negotiation Work?

You’re in Debt: 9 Terms to Know

The Kaplan Group

Being in debt is nothing to be ashamed of. If you have always prided yourself on being debt free, or good with money, you might be tempted to simply pull the covers of your head and ignore your current situation. FDCPA ( Fair Debt Collection Practices Act).

Collection Agency for Funeral Homes: Recover Unpaid Bills

Nexa Collect

Being a third-party debt collector, they are well-versed with dealing all those excuses and know exactly how to get your money back to you. It might seem like a profitable industry to be in now, but funeral homes are challenged with financial management decisions every day.

Heard of These 4 Credit Card Myths?

Debt Guru

This sounds like a reasonable assumption: With only one credit card, you only have one account to manage and only one bill to remember. appeared first on DebtGuru Credit Counseling and Debt Management Services.

Banks 55

I Missed a Credit Card Payment… So What?

Debt Guru

Debt collectors will use whatever legal means they have to collect from you. If you’ve run into financial straits with seemingly insurmountable credit card debt, don’t hesitate to call on the friendly experts at Credit Card Debt

Is It Okay To Pay Just The Minimum On Credit Card Debt?

Debt Guru

Whether your financial goals are as simple as building a small emergency fund or as complex as savings and investments for retirement, few things can derail your plan faster than debt. But not all debt is created equal, and a good debt repayment plan will keep these differences in mind.

Freedom Debt Relief Sued for Misleading Consumers

Debt Free Colorado

Offers for debt settlement and debt repayment plans often sound too-good-to-be-true. government agency that makes sure banks, lenders, and other financial companies treat you fairly”, Freedom Debt Relief’s offers actually were too-good-to-be-true. ” “Freedom took advantage of vulnerable consumers who turned to the company for help getting out of debt,” said CFPB Director Richard Cordray.

How the 50/30/20 Rule Can Keep You on Budget

Debt Guru

But if you find most financial management plans too complex to be helpful, the simple budgeting strategy within the 50/30/20 could be the key that finally unlocks your ability to get on top – and stay on top – of your financial goals. Savings or Debt Repayment – 20%.

Do You Have SMART Goals for Your Debt?

Debt Guru

We talk a lot about credit card debt because it’s so pervasive in our society. In fact, the Federal Reserve estimates that the average American household carries $5,700 in credit card debt. And their prognosis is worse for those who can’t pay off their balances in full each month – those borrowers shoulder an average outstanding credit card debt of $9,333. Remember, paying off credit card debt can take time, so you’ll need a plan that is sustainable over the long term.

Determining Your Debt-to-Income Ratio

Debt Guru

If you’re an American, chances are pretty good that you carry debt. While that means we’re in good company, it also means that most of us are feeling the stress of debt and the strain of repayment. So, just how much debt is “too much?” Of course, it’s completely personal – you might be OK with shouldering high debt in order to afford your second car, or you might be completely stressed out when you owe your friend for that pack of gum. Your Debt-to-Income Ratio.

Cheapest Ways to Do Online Grocery Shopping

Debt Guru

The post Cheapest Ways to Do Online Grocery Shopping appeared first on DebtGuru Credit Counseling and Debt Management Services. According to a Gallup Poll from August 2019, only 2 out of 10 American adults reported regularly doing their weekly grocery shopping online.