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By Matt: American Profit Recovery’s Annual Employee Week was awesome this year. We shared good food, played many in-office games, and had some great times at after-work events, including a picnic. We also received some of the coolest prizes. I wanted to share three things that I absolutely love about employee week. To start, I had a great time playing the team challenges, and it was so much fun watching everyone compete for team prizes.
The accounts receivable management industry lost a friend and a brother last week with the passing of Eric Foulk. Foulk, who most recently worked at TransUnion, had spent most of his career in the ARM industry, after he left the military. More details about Eric’s passing are available here. AccountsRecovery.
Consumer and business debt are two distinct types of debt that are handled quite differently. Consumer debt is the debt individuals incur for personal expenses, such as credit card debt, student loans, or mortgages. Business debt, however, refers to the debt incurred by businesses or organizations for various purposes, such as operational expenses, investment in assets, or expansion.
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.
The dog days of summer are ahead, and with inflation and high interest rates still sticking around, consumers in the U.S. will be feeling the heat financially. Consumer sentiment and data-based indicators tell some of the story, but what better way to gauge the consumer financial landscape than by looking at how people spend their free time and money?
When it comes to collecting business debt, the most critical steps occur before the goods or services are even purchased. This is when your business establishes control over the commercial relationship. By taking preemptive measures, you can set a solid foundation that will help you get paid, even if a creditor becomes delinquent. Our commercial collections litigation attorneys at Law Offices of Alan M.
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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.
When it comes to collecting business debt, the most critical steps occur before the goods or services are even purchased. This is when your business establishes control over the commercial relationship. By taking preemptive measures, you can set a solid foundation that will help you get paid, even if a creditor becomes delinquent. Our commercial collections litigation attorneys at Law Offices of Alan M.
The process of filing for bankruptcy is shrouded in myths that can deter individuals from seeking the help they need. Bankruptcy law is nuanced, and the process can be intimidating. Many people believe that filing for bankruptcy means giving up everything they own or that it will permanently ruin their credit. These myths are false and can prevent people from moving from their challenges to regain financial stability.
More than 1 in 3 American workers are living paycheck to paycheck, with little-to-no money left for savings after covering monthly expenses, according to a new survey from Bankrate.
Retention marketing is the practice of implementing strategies and techniques to keep existing clients engaged and loyal to your business. While acquiring new customers is important, retaining existing ones is more valuable for the long-term success of your business. By focusing on client retention, you can build strong relationships, increase customer satisfaction, and ultimately drive revenue growth.
The CFPB took action against repeat offender Fifth Third Bank for a range of illegal activities that would result in the bank paying millions in penalties as well as paying redress to harmed consumers.
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.
A bankruptcy can remain on your credit report for up to ten years from the filing date of Chapter 7 bankruptcy or up to seven years from the filing date of Chapter 13 bankruptcy. However, its impact on your credit score lessens over time as you rebuild your credit with responsible financial behavior. While bankruptcy may be a last resort, there are times where filing bankruptcy might make sense.
Steps have been taken to claw back millions of pounds owed to Swansea Council after auditors warned that action was needed. At the end of January this year debtors owed the council £12.4 million, a council report said. This was money owed for upwards of one month, in some instances for more than a year, and in a small number of cases more than seven years – at which point the debt is written off.
In today’s challenging economic climate, many businesses face the painful reality of unpaid invoices and debts. This problem can escalate quickly, leading to costly collection efforts that drain resources and time. Fortunately, there’s a solution: no collection no fee debt collection. This approach allows you to focus on running your business while experts handle your debt recovery without upfront costs.
More than half of respondents to the latest ARMSights poll believe that the Consumer Financial Protection Bureau’s proposed rule prohibiting the reporting of medical debt credit reporting will have a “significantly” negative impact on their overall effectiveness to collect on medical debts.
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.
In the dynamic world of business, managing cash flow is crucial. One of the most significant aspects of maintaining a healthy cash flow is effective accounts receivables (AR) management. Yet, many businesses struggle with overdue invoices and delinquent accounts, which can strain resources and hinder growth. Enter commercial collection agencies—specialized firms that can play a pivotal role in optimizing your AR functions.
Collection accounts are bad for your credit score. These negative marks on your credit report indicate you might not pay your bills on time—or ever, which is why lenders don’t like to see them. Collection accounts can stay on your credit report for up to 7 years. This makes it harder to get approved for credit during that time. Learning how to remove collections from your credit report can help you clean up your credit history and open better financial doors in the future.
Cazoo Group Ltd has announced that the company is officially winding up, following the company’s extraordinary general meeting yesterday (July 2). Shareholders approved resolutions for the company to be placed in voluntary winding up, the appointment of voluntary liquidators and their renumeration at the EGM. The Securities and Exchange Commission notice from Cazoo says that it will be placed in voluntary liquidation based on the fact ‘it is unable to pay its debts’.
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!
Managing debt collection fees can be a daunting task for any business. An ineffective credit and collections process not only increases these fees but can also strain relationships with customers. In today’s competitive landscape, it is essential to streamline your approach to ensure timely payments while maintaining a positive image. This blog post will guide you through simple steps to completely overhaul your credit and collections process.
Supreme Court Overturns Chevron Doctrine; Limits Authority of Federal Regulators Like CFPB, FTC Weighing In on Impact of Chevron Ruling Judge Dismisses Debt Collection Class Action Against Software Provider Over Convenience Fees Industry Shares Views on Proposed Medical Debt Credit Reporting Rule Compliance Digest – July 1 Gulf Coast Collection Bureau Announces Rebrand to Gulf […]
Commercial debt collection agencies can be tremendously effective partners for almost any small business that offers credit to their customers. The right debt collection agency can act as your own personal accounts receivable department tasked with tracing down delinquent accounts, contacting debtors, negotiating payments, filing for judgments, and collecting payments.
The CFPB issued a circular explaining how companies may break the law by requiring employees sign broad nondisclosure or confidentiality agreements that deter whistleblowing.
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.
Worried about your credit score? We get it – credit is confusing. In many ways it feels like you have no control over this thing that determines whether you can get a car, apartment or even a new cellphone without a broken screen. But having a healthy credit score or even improving a bad credit score doesn’t require becoming an expert. Here are 9 easy ways to get you started, listed in order from easiest to most difficult. 1.
With tomorrow’s election looming, promises have been made by Politicians on how they each plan to combat late payment. All the major political parties are making pledges to tackle late payments that hurt business growth in the UK. The Conservatives, Labour and Liberal Democrats have all made promises to tackle the late payments crisis harming businesses.
Creating a transformative end-to-end collections strategy is crucial for businesses. It involves carefully managing and recovering debts while maintaining positive customer relationships. One important aspect of this strategy is no fee debt collection. This means businesses can recover their debts without extra costs. It’s about finding the balance between effective debt recovery and customer care.
A District Court judge in New Jersey has granted a defendant’s motion to dismiss a Fair Debt Collection Practices Act class-action lawsuit, but not on the merits as the defendant had sought. Instead, the judge ruled the plaintiff lacked standing to pursue his suit and dismissed the case.
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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