payment 
Credit Corp
JULY 20, 2020
Making payments late or missing payments completely spells bad news for your credit rating. When you miss too many payments, your creditor may charge off the debt. A charge-off occurs when you don’t pay the full minimum payment on a debt for several months and your creditor writes it off as a bad debt.
Credit Corp
JULY 20, 2020
What should you do with the money you were previously putting towards your monthly payments? In 2019, new car buyers committed to an average monthly payment of around $550. This step is important because if your financed vehicle were totaled in a wreck, the insurance payment would go to the lender.
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Debtor Daddy
JULY 20, 2020
Therefore care and tact are needed in order to ask for payment and resolve issues positively. But late payment is a common reason for cash flow problems. Sometimes invoicing and payment issues result in several people from your organisation getting involved in order to find a resolution. You’re talking to customers. No pressure!
Debtor Daddy
JULY 20, 2020
Therefore care and tact are needed in order to ask for payment and resolve issues positively. But late payment is a common reason for cash flow problems. Sometimes invoicing and payment issues result in several people from your organisation getting involved in order to find a resolution. Your boss is keenly interested.
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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.
Collection Industry News
JULY 20, 2020
Lightfoot announced that the city of Chicago has lifted a temporary suspension on debt collection practices and non-safety related citations and impounds, as well as penalties for late payments. The order pertained to debt owed to the city of Chicago.
Troutman Sanders
JULY 20, 2020
The Main Street nonprofit loan terms mirror those for Main Street for-profit business loans, including the interest rate, principal and interest payment deferral, five-year term, and minimum and maximum loan sizes. On July 14, the FTC warned consumers not to submit payment to scammers acting as utility companies.
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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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