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When it comes to dealing with B2B clients, it's important to approach any potentially negative situation with a proactive mindset. When you understand why clients may ask for more than your agreement, you can better anticipate and prepare for potential roadblocks. Whether it's negotiating with clients to find a mutually beneficial solution or knowing when it's time to end the relationship, there are strategies you can use to ensure a successful project outcome.
In what many in the accounts receivable management industry fear is a nightmare scenario, plaintiffs who lose cases in federal court, especially if found not to have standing to sue, then turn and file the exact same case in state court, hoping the threshold to have standing is lower and therefore making it more likely […]
We speak to business owners and other decision-makers all the time when it comes to debt collections and there is one question they ask repeatedly. Are there any warning signs a customer is not going to pay? And the answer is a definitive yes! There are unquestionably signs that a customer is not going to pay and we have assembled these below. And while that is not always the case, our experts have found these are the more apparent signs of a customer not paying you in the future.
CFPB issues order against payment processor ACI Worldwide Corp. and its subsidiary ACI Payments Inc. (ACI) improperly initiating approximately $2.3 billion in unlawful mortgage payment transactions. This is the CFPB’s first action addressing unlawful data handling practices in processing mortgage payments.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
Debt collection agencies are subject to various data security rules and regulations to protect consumer information. I will outline some general principles and specific regulations in the United States. Remember that there might be additional state or local regulations, and laws can change over time. Fair Debt Collection Practices Act (FDCPA) : While primarily focused on the practices and behaviors of debt collectors, the FDCPA also contains provisions that protect consumers’ personal info
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Your credit score may improve if your collection debt is reported to a new credit scoring model—FICO 9®, FICO 10®, VantageScore 3.0® or VantageScore 4.0®.
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Creditor Collections Today brings together the best content for creditors and collection professionals from the widest variety of industry thought leaders.
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Your credit score may improve if your collection debt is reported to a new credit scoring model—FICO 9®, FICO 10®, VantageScore 3.0® or VantageScore 4.0®.
Nobody likes asking for money - least of all when your clients aren't paying their invoices promptly. Business-to-business debt collections could also impact your relationships with current and potential clients. It's crucial to keep things professional, even when they feel personal, and the missed payments are affecting your bottom line. Use these tips to protect your business reputation during B2B debt collections.
The parent company of Lexington Law, which filed for bankruptcy protection earlier this week, is planning to auction off its assets and has laid off more than 75% of its employees, according to published reports.
By Michael: To be successful at American Profit Recovery, you must have integrity, a positive attitude, and a strong work ethic. These three qualities will take you as far as you want to go in this company because they’re the most important in the collection industry. Consumers do not want to give their money to people they don’t trust, aren’t positive, and don’t work for it.
The Consumer Financial Protection Bureau (CFPB) today released a new issue spotlight on the expansive adoption and use of chatbots by financial institutions.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
“Buy Now, Pay Later” (BNPL) schemes have gained popularity as an alternative to traditional credit, offering consumers the ability to purchase items immediately and pay for them over time. While these services can be convenient, they also have several potential negative impacts on consumers : Overspending : BNPL schemes can encourage impulsive buying and overspending by creating the illusion that consumers are not actually spending money.
Juneteenth National Independence Day commemorates the Emancipation Proclamation, in which President Abraham Lincoln issued the proclamation to free enslaved African
If you've ever struggled with chronic late-paying clients or are silently seething over invoices that were never paid, you're probably considering commercial debt collection. Of course, you're wondering how much it'll cost and if you have time to research it. You may wonder how to escalate an unpaid debt to a collections agency and if they'll damage your client relationships.
The California Department of Financial Protection and Innovation yesterday announced three enforcement actions against different debt collection operations, for attempting to collect in the state without having or applying for a license and also making false or misleading representations when attempting to collect on a debt i n violation of the Fair Debt Collection Practices …
Speaker: Alex Salazar, CEO & Co-Founder @ Arcade | Nate Barbettini, Founding Engineer @ Arcade | Tony Karrer, Founder & CTO @ Aggregage
There’s a lot of noise surrounding the ability of AI agents to connect to your tools, systems and data. But building an AI application into a reliable, secure workflow agent isn’t as simple as plugging in an API. As an engineering leader, it can be challenging to make sense of this evolving landscape, but agent tooling provides such high value that it’s critical we figure out how to move forward.
There have been many shifts in the debt collection industry over the past several years. And the trends and updates that many in the collection industry have worked hard on, are moving the industry in a positive way. Everything from enhanced technology, a better understanding of the career opportunities in the collection industry as well as forward progress in the collaboration between industry leaders and government at all levels.
The Consumer Financial Protection Bureau (CFPB) took action against medical debt collector Phoenix Financial Services (Phoenix) for numerous debt collection and credit reporting violations.
Improving your online business reputation is essential in today’s digital age, where customers frequently rely on online reviews and social media presence before making purchasing decisions. Here are steps to help you improve your online business reputation: Monitor Your Online Presence : Regularly monitor what is being said about your business online.
EOFY Demand template. Many people have asked us for this so without further adieu here is a demand you can use this week to hopefully get paid before Friday. Remember, to get them to pay, your customer MUST benefit. If they don’t then your invoice will just remain where it is, a problem for next Financial Year. Just add your debt amount next to the dollar sign and away you go.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
In today’s financial landscape, regulators at both the federal and state level are driving accountability for companies when it comes to data protection and security. We see that with the express requirement in the Gramm-Leach-Bliley Act, or GLBA, Safeguards Rule —which went into effect on June 9, 2023—that organizations have one qualified individual to oversee the information security program, and that the qualified individual provides regular reports to the highest governing body of an organiz
Facing the possibility of a $3 billion claim from the Consumer Financial Protection Bureau, the parent company of Lexington Law and CreditRepair.com filed for Chapter 11 bankruptcy protection yesterday. A copy of the filing, filed in the Bankruptcy Court for the District of Delaware, can be accessed by clicking here.
We have a new collection manager here at American Profit Recovery and her name is Angela. She has been with American Profit Recovery for several years now and she has demonstrated the leadership qualities that can move a team in the right direction. If you are a regular reader of our blog then you have seen Angela, better known as Angie to her coworkers, contributing many articles about what it’s like to work here at American Profit Recovery, the culture we continuously build as well as th
Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Chargebacks can be costly for a business, not just in terms of revenue, but also in operational overheads and potential damage to reputation. Here are some strategies to reduce chargebacks: Clear Product/Service Descriptions : Provide detailed and accurate product or service descriptions. This reduces the likelihood of a customer being dissatisfied or claiming that the product or service was not as described.
The COVID-19 pandemic has had a dramatic and unprecedented impact on the commercial real estate market, requiring landlords and tenants to rethink their traditional lease clauses. While the post-COVID landscape is still uncertain and may take some time to fully recover, there are a few key lease clauses that should be included in every new or renewed commercial lease agreement.
This June, families across the country are celebrating fathers and father figures in their lives. The yearly question of what to get dad for Father's Day will come up, and many kids will begin crafting and signing homemade cards.
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
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