June, 2020

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Why Diplomacy Works in Debt Collections

American Profit Recovery

We are often asked by our new clients about the strategy we will employ to help them get paid and collect the money that is owed to them. Let’s face it, we are not the only collection agency out there so many businesses searching for a company to help with debt collections will want to understand how we might approach their customers differently to create some type of resolution.

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7 Inspiring Business Quotes from Black Entrepreneurs

Enterprise Recovery

As entrepreneurs, we tend to look for those who most resemble ourselves for motivation and proof of success. We all need business leaders who've trudged the path before us, helping to make the path a little clearer. Brown and black entrepreneurs, as an example, face challenges such as a lack of media coverage of diverse leaders and are less likely to receive venture-capital funding.

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Debt Collection Process: Using a Revenue Recovery Service

Nexa Collect

Businesses can have troubled relationships, much like people. When a contract is breached, inadvertently or on purpose, one of the greatest losses is trust. The process of building a business relationship consists of an investment of time and money but also of the risk of losing a portion of one’s market share, and thus, a risk of losing business. Any partnership carries with it the potential of mutual support and growth as well as the potential for corporate theft, loss of revenue, employee poa

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A Shot Across the Bow for Copyright Trolls: Forcing Higbee Clients to Pay for Frivolous Demand Letters and Intimidation Tactics

Public Citizen

by Paul Alan Levy. As I have discussed in several previous posts , Mathew Higbee has built up a significant copyright enforcement business that depends on the issuance of threatening demand letters that are followed up by a small army of “compliance resolution specialists” who nag and threaten large awards of damages, the issuance of judgment liens, imposing short deadlines before the matter will be “escalated” to “the litigation team.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

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.

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COVID-19 Unmasks Inequality in Health Care, Economics and Criminal Justice Among Youths

Prosperity Now

This is the first in a two-part series about low- and moderate-income youth.

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A Place with Endless Opportunities

American Profit Recovery

By Sabrine: After graduation, I applied for several different positions until I received a phone call from American Profit Recovery (APR). I had no schema of the collection industry or what the position entailed until I walked into the doors and it was explained thoroughly. To sum it up, a day as a collection specialist here consists of helping consumers pay their debts with a customer service approach.

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How Do Accounts Receivable Collections Affect Your Business Reputation

Enterprise Recovery

When you think about your business reputation, you may be looking to customer testimonials or surveys to determine how well you're doing. Obviously, your branding and online perception is going to influence sales and ultimately your revenue. Another part of your business' reputation, however, is how you approach the financial aspects of your business.

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Debt Collection Agency for Concrete Pumping Industry

Nexa Collect

Concrete Pumping companies often run into overdue accounts receivable. Pumps, belts cost, fuel, staffing costs, and equipment maintenance cost a lot, therefore unpaid AR can hurt the finances of a pumping company dearly. These receivables are usually B2B accounts that require commercial debt collection. A collection agency with its three-step collection process can assist businesses to recover money in an amicable manner.

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Credit Tips with Tiff: How Do I Handle My Finances After a Divorce?

Credit Corp

Dear Tiff, I’ve just recently gone through a divorce, and now I find myself dealing with all my finances alone for the first time in years. I’m not really sure what to do going forward—not only because of the divorce expenses, but because I’m managing one income. Do you have any tips? Single and Ready to be Financially Responsible. Dear Single, Divorce is hard—no matter the circumstances.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

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.

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America’s Policing Abuses Are the Fruit of Centuries of Poverty and Plunder

Prosperity Now

Lest toothless or facile public statements obscure the reality of the moment, abusive policing tactics and police-perpetrated killings are the

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COVID-19, The Cares Act and Credit Reporting

Sawin & Shea

The Covid-19 pandemic has resulted in an economic slowdown unprecedented in modern history. In response to this economic impact The CARES Act was signed into law March 27, 2020. One of its provisions in the act provided for mortgage forbearance agreements and modifications to the Fair Credit Reporting Act. Pursuant to the Cares Act, most mortgage holders/servicers are offering mortgage forbearance agreements.

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Six Strategies to Strengthen Cash Flow During a Pandemic

The Kaplan Group

Cash is King during COVID-19. Poor cash flow can cause a significant number of financial issues but in a pandemic it can destroy your business. The good news is, strengthening your cash flow in a volatile environment can improve your overall cash position. Cash flow is about both bringing in more cash and spending less cash. You must manage both expenses and revenue to optimize results.

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7 Reasons Businesses Turn to Third Party Collections

Enterprise Recovery

If your business works with another business, you or your accounts receivable department likely has some idea of the efforts to collect on past due accounts. Reasons for late payments could be as simple as a misplaced invoice or as challenging as being affected by a global pandemic. Whatever the reason, positive cash flow and working capital is important to keep the lights on and your employees paid.

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Agent Tooling: Connecting AI to Your Tools, Systems & Data

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.

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CEREC Restorations: High Quality Teeth Restoration & Repair

Nexa Collect

In retrospective dental clinical cases, restorations have played a rather unique role in alleviating pain and discomfort for the patients. A standard restoration may take up to a few appointments to complete which is the first major flaw that overshadows traditional restorative dentistry. As dentists, it gets exhausting to work on complex dental restorations as it would the patient to keep booking appointments to see their dentists every other day.

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What to Do When Unemployment Benefits Run Out

Credit Corp

Unemployment benefits can provide emergency financial support if you’ve found yourself out of a job. The benefits are meant to be temporary to help you pay bills and cover necessary expenses while you look for another job. If you’ve ever applied for unemployment before, you know the process can be difficult. But what if you’re able to get approved for benefits and they run out before your income is on the upswing?

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Tax Season Countdown All Over Again

Debt

Everyone knows the old saying: Time flies when you’re procrastinating. Seems like only yesterday we were breezing past April 15 — the traditional deadline for income tax filing — and suddenly, the finish line looms again: Like a freight train heavy with overdue personal protective equipment, here comes July 15. Where did the time go? […]. The post Tax Season Countdown All Over Again appeared first on Debt.org.

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Supporting VITA is Supporting Families Through This Pandemic

Prosperity Now

About 12 million eligible people have not received Economic Impact Payments , leaving unclaimed roughly $12 billion of the funds

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Future-Proof Your Firm: Smarter Tech for Stronger Returns & Simpler Workflows

Speaker: Joe Wroblewski, Senior Sales Engineer

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!

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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.

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Cash Management During a Recession

Enterprise Recovery

COVID-19 cases are still increasing as the United States reopens and now the National Bureau of Economic Research has declared that the U.S. economy is indeed in recession. According to the announcement, the economy was heading into recession when the coronavirus hit and, as businesses were shutdown, any gains were erased during March and April. If you're a business owner or accounts receivable professional, you may already know that cash flow has been affected by the events of the past few mont

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Millennials Face a Second Once-in-a-Generation Economic Calamity

Titan Consulting

Key Takeaways. Many millennials who entered the workforce in 2008-2010 remember all too well the challenges of finding gainful employment. Now, at a time when Millennials should be reaching the peak of their earning years, they face a historic downturn in the economy and job market once again. To survive and thrive in uncertain times, Millennials must preserve cash, shrink their budgets, and aggressively track and monitor their spending.

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How to Start Building Credit Once You Turn 18

Credit Corp

Good credit is crucial to unlocking many financial opportunities in life. When you have a great credit score , you can get lower interest rates on car loans, credit cards and mortgages. Some employers and landlords even check credit reports before they make a job offer or approve a resident application. While developing a solid credit history takes time, follow some of these tips on how to establish credit once you turn 18 to get started as soon as possible. 1.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

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.

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Communicating With Empathy in Collections During & After COVID-19

Arbeit Software

Facilitating professional development and training is a great way to invest in your agency's greatest asset, your collectors. We spoke with Mary Shores , a second generation debt collection agency owner, who shared her call scripting methodology and ways for leaders to empathize with collectors to set them up for success during and after COVID-19.

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Can I Protect My Home and Personal Property in Bankruptcy?

Sawin & Shea

If you’re filing for bankruptcy, you might be assuming that you’ll lose your house and personal property. This is rarely true. Many people keep control over their assets through the use of bankruptcy exemptions, which are special rules that allow people who are filing for a Chapter 7 bankruptcy to keep certain property if its value is less than the amount of the exemption.

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Guest Spot: Credit Ecosystem to Go with Tim Collins

True Accord

TrueAccord’s Chief Compliance Officer and General Counsel, Tim Collins, joins host Joann Needleman, Practice Leader & Member at Clark Hill PLC to discuss the evolving world of debt collection. The inaugural episode of the podcast includes discussions around: The digitization of debt collection practices How industry practices are adapting to the COVID-19 pandemic The need for companies to adopt these changes before it’s too late.

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Black Home Values and Appreciation

Prosperity Now

Racial inequalities in homeownership are crucial to understanding the racial wealth divide. According to the St.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

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.