June, 2021

Why this $9 might be the best money you ever spend

Collect More

One of the first things you should do if your overdue customer is also a business is identify their structure- go to www.abr.business.gov.au and search their name. If they are a Pty Ltd company then it’s worth doing a company search- what you are trying to find out is: – Who the directors are, bearing in mind they are often not the person you’ve been dealing with.

Excise Tax: The Ultimate Guide for Small Businesses

Nerd Wallet

This article has been reviewed by tax expert Erica Gellerman, CPA. An excise tax is a tax charged for items that are frequently seen either as socially harmful or as a luxury good or service. Luxury vehicles are subject to excise tax, as are alcohol, gas, airline tickets, indoor tanning and more.

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How to get paid before EOFY

Collect More

Right then folks- there are mere days left. If you’re like most business owners, you want your bank balance at 30 June to be as healthy as possible. Here’s how to convert “Money owed” to “Cash at bank”. – Sell the benefits, for them, in paying you before 30th June. Closure and the opportunity for “a fresh start in a brand new year without this debt hanging over their head”.

Banks 100

Cobb County School District Tries Bogus Trademark Claims to Suppress Anti-Racist Organizing

Public Citizen

by Paul Alan Levy.

Mandatory COVID Vaccination Policy Template

The federal government is developing a rule requiring employers with more than 100 employees ensure their workers are vaccinated or produce a negative COVID test weekly before entering the workplace. So, what can your organization do to prepare? Get Paycor’s COVID Vaccination Policy Template to help communicate important details to your employees.

Go Green: An Evergreen Retainer Can Help with Collections

NCBA Law Practice Management Blog

Law firm collection rate s tend to be well below average. That’s in part because law firms are great extenders of credit. They’ll taka a retainer upfront, struggle to collect any more money, and then continue to work through a situation in which it’s unlikely they ’ ll get paid anything more.

More Trending

Builder wrecks customers house over Unpaid Invoice

UK debt collections

A Builder took extreme action when a customer refused to settle an unpaid invoice. Frustration over an ongoing dispute over an unsettled bill caused a builder to take action into his own hands. The house after it was partially demolished. Credit: BPM Media.

REDUCE BAD DEBT USING CREDIT APPLICATION FORMS

Debt Recoveries

A good way to reduce bad debts is having great systems in place at the beginning. One of the best tools you can have is a credit application form. Basically, this is a request, usually in writing, for an extension of credit.

Don’t do this if you want to get paid

Collect More

Demand emails- we see A LOT of them. Whenever we are sent a new debt to collect our client’s will include the emails they have already sent their debtor requesting payment. Obviously it hasn’t worked and it is almost always because of this reason- the sign-off is too nice. It is completely different to the body of the email- you have to be consistent.

Debtor 100

Study reports consumers find courts fairer than arbitration

Public Citizen

Farshad Ghodoosi of the David Nazarian School of Business & Economics, California State University, Northridge and Monica Sharif of California State University, Los Angeles have written Justice in Arbitration: The Consumer Perspective, International Journal of Conflict Management (2021). Here is the abstract: Purpose: Arbitration—a binding private third-party adjudication—has been the primary legal way for resolution of consumer disputes.

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Spin Cycle: How Quickly Do Your Cases Move?

NCBA Law Practice Management Blog

Lawyers look for revenue in all types of places. Sometimes they try to reduce overhead. Sometimes they try to generate more leads. Sometimes they try to convert more leads. Sometimes they try to throw more money at the problem. Sometimes they try to throw less money at the problem.

Eviction and Bankruptcy

Sawin & Shea

Although filing for bankruptcy can solve many of the issues you are dealing with, ease your stress level, and give you a chance to breathe, it cannot remove all of your worries.

Minn. Gov. Signs Omnibus Bills into Law, Include Provisions For Debt Buyers

Account Recovery

The governor of Minnesota has signed a number of omnibus bills into law, one of which contains provisions that expand the regulation of the accounts receivable management industry to include debt buyers, a new term that the state is defining for the first time.

Frank Springfield Featured in Bitcoin Panel Discussion on E-Crypto News

Burr Forman

In an E-Crypto News panel discussion, What Are The Long-Term Prospects For Bitcoin? author Christopher Hamman brought together a panel of 13 business professionals, including Frank Springfield , to discuss Bitcoin’s long term prospects. The full panel discussion can be found here.

How to know if you need to file bankruptcy

Roths Child Law

It's one thing to be burdened by a single bill. You may be able to negotiate a reduced settlement with your creditor to alleviate yourself of that pesky bill. Debtors with multiple delinquent accounts don't often have the luxury of negotiating balances.

EEOC Issues New Guidance on Workplace Vaccine Policies

Fraser

On May 28, 2021, the Equal Employment Opportunity Commission (“EEOC”) issued new guidance for employers regarding employment vaccination programs. As discussed below, the EEOC’s updated guidance provides additional information concerning key issues such as whether: Employers may mandate vaccines.

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Screened Time: Google's Newest Advertising Program Is Here

NCBA Law Practice Management Blog

Attorneys have, like most business owners, spent lots of their marketing dollars on Google search. It makes sense: Google is the most popular search engine. Google-owned YouTube is #2.) Google Screened is Google’s latest addition to its collection of local service ads.

Getting Approved for a Loan After Bankruptcy

Sawin & Shea

Many people assume that because they have filed bankruptcy, their credit is ruined, and they will not be able to qualify for any loans. This is not true. There are a number of steps you can take to improve your credit score and to make it likely that you can be approved for a loan.

Daily Digest – June 29. Industry Sues Nevada to Block Collection Law; Judge Grants MSJ For Defendant Over Credit Karma Report

Account Recovery

INDUSTRY FILES SUIT TO BLOCK ENACTMENT OF NEVADA MEDICAL DEBT COLLECTION LAW A dozen collection agencies, plus ACA International and the Nevada Collectors Association have filed a lawsuit against the state of Nevada seeking to block the enactment of a new law that governs how medical debts are to be collected in the state.

Applying advanced analytics to improve cash collection

Qualco

What happened when a leading loan servicing organisation looking to optimise its treatment process and increase cash collections decided to leverage enhanced analytics?

Five Key Construction Contract Terms That Every Subcontractor Needs to Negotiate

Jimerson Firm

One of the most important aspects of construction project success for subcontractors can be the subcontract agreement. A one-sided subcontract in favor of the contractor can make problems experienced by the subcontractor on the project even worse, and leave the subcontractor with very few options.

Michigan COVID-Related Capacity, Mask and Gatherings Restrictions Will be Lifted Beginning June 22

Fraser

Governor Gretchen Whitmer announced on June 17, 2021 that COVID-related restrictions for capacity, masks and gatherings will be lifted effective June 22.

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Arrested Development: What Do Modern Law Firm Associates Want, Anyway?

NCBA Law Practice Management Blog

There’s a lot in flux around the legal industry of late. Work roles, places and preferences seem to be changing constantly. Yet, law firms continue to require associates to move business forward. Managing partners often think, in these instances, about what the law firm needs.

Q&ARM Showcase: Shorten the Collection Process, Build Consumer Trust

PDC Flow

Shopping for new business technologies can be a long, difficult process. Oftentimes, even scheduling a software demo can take time out of your day you may not be able to spare.

Senators Ask CFPB to ‘Address’ Medical Debt Collection

Account Recovery

Things Debt Collectors Are Forbidden to Do

Sawin & Shea

Whether you have missed a single payment somewhere along the line or are delinquent on several payments, the last thing you want is to be harassed by debt collectors. In most cases, people know that they are behind on payments and are struggling to deal with the issue.

Third Jimerson Birr Partner Becomes Multiyear Recipient of Statewide Legal Elite Honor

Jimerson Firm

Jacksonville, Fla. June 28, 2021 – Jimerson Birr is proud to announced partners James O. Joby” Birr, III and C. Ryan Maloney have been recognized among Florida Trend’s 2021 Legal Elite.

Savings Tips for Newbies, Experts and Everyone in Between

Nerd Wallet

When it comes to saving money, this year may look a little different from years past. The savings rate is lower than its peak of about 34% in April 2020, but Americans are still saving more than they did before the pandemic. This is according to the U.S.

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Your Business Experienced a Ransomware Attack, and It Was Not Prepared – Now What?

Burr Forman

It is hard to find a news post without a story on a ransomware attack. The National Security Council has issued an open letter warning all businesses to be alert and prepared for ransomware attacks. Various industry groups have issued multiple alerts with tips specific to businesses in their field.

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Effective debt collections acknowledges unique consumer challenges

American Profit

As the light the end of the metaphorical-pandemic tunnel gets brighter, creditors may be questioning whether sending consumers to collections is appropriate. Considering the financial hardships people have endured throughout the pandemic, it is a legitimate concern.