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Enterprise Recovery
AUGUST 21, 2020
Whether you've decided to escalate their continued late payments, write off their account as bad debt or pursue litigation, you don't have to do it alone. Unfortunately, when your good business clients refuse to pay or communicate, it may be time to bring in a mediator to ensure your assets are protected and your agreement holds up.
Debt Guru
AUGUST 21, 2020
You can treat these like any other monthly bill: Even if you make only the minimum payments on this type of debt, you will eventually pay it off. These lenders use a fairly straightforward system to calculate your minimum payment, but remember that this is a system that benefits the credit card company – not the consumer.
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Better Credit Blog
AUGUST 21, 2020
They have either been hired by the original creditor to get you to make payments, or they purchased the debt for pennies on the dollar. Unfortunately, it is not uncommon for a debt collector to bully, harass, or even threaten you into making payments. Before you make any payments, you will need to ask MRS BPO LLC to verify the debt.
Better Credit Blog
AUGUST 21, 2020
Individuals with “fair” credit scores usually have late payments on their credit reports , some of which may have gone to collections. Here are a few tips that can help you take your credit score to the next level, with some nearly instant results and others paying off long term: Get your payment history on track.
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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.
Better Credit Blog
AUGUST 21, 2020
Some of the most common contributors to a “very poor” score include: Late payments. Focus on your payment history: Your payment history constitutes 35% of your credit score, so making payments on time is key to keeping up your score. Automating payments is ideal. Bankruptcy. Repossessions. Debt collections.
Better Credit Blog
AUGUST 21, 2020
A company will typically grant you a goodwill deletion if you write them a letter explaining why you were late on your payments and why you would like the entry deleted. Begin by writing a letter explaining why you were late on your payments in the first place. Again, this will only work if the debt has already been paid.
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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. Are you finding some snags in your collections process? Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy
May 18th, 2023 at 9:30 am PDT, 12:30 pm EDT, 5:30 pm BST
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