American Profit Recovery
MAY 5, 2023
No matter the size of your business, your organization will always encounter consumers that have challenges meeting their financial obligations. For a whole host of reasons, consumers can either be late in paying you, or stop paying your business altogether. We always advise the organizations we work with to have an internal debt collection strategy prior to issuing accounts to a collection agency.
Enterprise Recovery
MAY 26, 2023
When you're growing a business, a late-paying client can be frustrating. You have to dedicate time and resources to figure out what happened and why. You have to pull yourself together enough to have a conversation about money - something that's not easy for many people. The most important thing to remember is that your business fulfilled its part of the deal, and now your client owes your business.
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Enterprise Recovery
MAY 19, 2023
With the "unprecedented" events of the past few years, businesses are looking to become more efficient in all areas of their organizations. An area that is often overlooked due to its manual processes is accounts receivable. Even though payments by check have declined since 2019, thirty percent of B2B clients are still writing checks and sending them in the mail.
Enterprise Recovery
MAY 12, 2023
Debt collections may not be the most enjoyable part of back office operations, but it's absolutely necessary. Unfortunately, some of your business clients will miss a payment or more due to various reasons. If you've signed an agreement and fulfilled your part, they still owe you. What happens when business debt goes to collections?
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
American Profit Recovery
MAY 3, 2023
By Angela: I have had the pleasure of sitting in on plenty of interviews throughout my career with American Profit Recovery. During this time, I have noticed some common things potential candidates are always looking for. One of the biggest is that they want an opportunity for growth, a company they can make a nice living at and a good working environment.
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Credit Corp
MAY 10, 2023
Though FICO® and VantageScore® ranges start at 300, most new credit users don’t start this low. In fact, if you’ve never taken out credit or applied for a loan, you might not have a credit score at all. When applying for credit cards and loans, you begin to build credit, but you may be wondering—what does your credit score start at? Most people’s initial credit scores are between 500 and 700 points, depending on the steps taken when establishing credit.
Consumer Finance
MAY 22, 2023
Today, the Consumer Financial Protection Bureau (CFPB) reached a settlement to resolve CFPB’s allegations that Citizens Bank violated consumer financial protection laws and rules that protect individuals when they dispute credit card transactions.
Troutman Sanders
MAY 17, 2023
As discussed here , D.K. et al. v. United Behavioral Health et al. is a case that has been carefully watched in the health benefits space for its potential to change what health plan administrators must include in adverse benefit determination letters. On May 15, 2023, the Tenth Circuit issued its opinion affirming the district court and significantly heightening the notification requirements for adverse benefit determinations on medical necessity grounds.
Enterprise Recovery
MAY 5, 2023
Estimates say that the number of freelancers entering the marketplace is growing at a compound annual growth rate of 15%. Enterprise company layoffs and the demand for more flexibility after the pandemic are two of many reasons that more people are considering freelancing. If you're ready to hang out your shingle, you definitely want to make sure you're on steady ground, so preparation and planning are necessary.
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Are you finding some snags in your collections process? 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. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.
American Profit Recovery
MAY 2, 2023
If you are a consumer struggling with debt, you’ll want to pay attention to one of the best pieces of consumer advice we can provide you. If you have an outstanding debt and you are being contacted by a collection agency, pick up that phone, answer that e-mail or respond to that text message. You’ll start the process of getting out of debt and lower your anxiety at the same time.
Account Recovery
MAY 15, 2023
The moratorium on student loan payments has cost the federal government $160 billion in lost assets and the federal government should be ordered to force individuals with unpaid student loan debts to start repaying them, according to a nonprofit think-tank that is seeking a preliminary injunction against the Department of Education.
Credit Corp
MAY 30, 2023
Bankruptcy can happen to anyone—despite their best efforts. And while most people understand that bankruptcy is generally bad for them, many don’t realize the details of how it can impact you. Read below to find out what happens to your credit score after bankruptcy and what you can do to repair your credit afterward. What Happens to Your Credit Score after Bankruptcy?
Consumer Finance
MAY 31, 2023
The Consumer Financial Protection Bureau published an issue spotlight on digital payment apps heavily used by consumers and businesses.
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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.
Fico Collections
MAY 17, 2023
Home Blog Feed test FICO World 23: Unleashing the Power of FICO Platform Creating next-generation customer experiences Tue, 05/16/2023 - 17:07 Saxon Shirley by Stephanie Covert EVP, Software expand_less Back to top Wed, 05/17/2023 - 16:25 An Engine for Next-generation Customer Experiences FICO World 2023, is an embodiment of the collective vision and dedication of leaders, change agents, and revolutionaries like our clients, who are shaping the future of customer experiences.
Troutman Sanders
MAY 2, 2023
Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield, Addison Morgan, and Josh McBeain for the first installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule. Part 1 of this special series provides a general overview of the rule, including: What the rule is designed to do; The definition of a small business for the purpose of this r
Payment Savvy
MAY 16, 2023
Our current era has been shaped by digitization with a fundamental impact on all sectors, including banking and finance, where it has brought unprecedented convenience, security, and efficiency. The backbone of these developments is none other than America’s Automated Clearing House (ACH) which facilitates seamless electronic transactions between banks and financial institutions within its network.
Account Recovery
MAY 11, 2023
GETTING TO KNOW ALICE LUDWIG OF VENGROFF WILLIAMS Alice Ludwig has won the AccountsRecovery.net monthly Caption Contest more than anyone else — she is the only four-time winner.
Speaker: Lynnette Khalfani-Cox, The Money Coach®
Niche markets represent a huge opportunity for the financial services industry in America. From college students and women to communities of color and low-to-moderate-income households, niche populations have specialized financial needs – but they often underutilize many valuable financial products and services. How can you better connect with these consumers?
Credit Corp
MAY 30, 2023
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. You can request the removal of hard inquiries from your credit report by pointing out unauthorized checks or going through a formal dispute process with major credit agencies.
Consumer Finance
MAY 3, 2023
The Consumer Financial Protection Bureau (CFPB) proposed a rule to implement a Congressional mandate to establish consumer protections for residential Property Assessed Clean Energy (PACE) loans.
Fraser
MAY 4, 2023
Are your workers properly classified? Even though the Michigan Legislature is currently mired in the often months-long process of passing a budget, there is a package of mostly non-spending bills in the Michigan House of Representatives that businesses should be keeping an eye on. The multi-bill package ( HB 4390 et seq.) would create one of the strictest standards for defining an independent contractor and provides for significant penalties for those employers that misclassify workers.
Prosperity Now
MAY 23, 2023
Remember back in 2021 when we celebrated Connecticut and Washington, DC becoming the first two locations to pass Baby Bonds
Speaker: William Hord, Vice President of ERM Services
A well-defined change management process is critical to minimizing the impact that change has on your organization. Leveraging the data that your ERM program already contains is an effective way to help create and manage the overall change management process within your organization. Your ERM program generally assesses and maintains detailed information related to strategy, operations, and the remediation plans needed to mitigate the impact on the organization.
True Accord
MAY 10, 2023
Over the past two years, revolving credit card balances have grown more than 25% and are now above $1.2 trillion. Additionally, personal savings rates are stubbornly holding near 65-year lows, and combined with higher interest rates driving higher minimum payments, consumers are obviously feeling the stress. At the same time, delinquency rates on these higher balances have increased over 45%, putting significant strain on bank credit losses.
Account Recovery
MAY 31, 2023
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.
Credit Corp
MAY 30, 2023
The number on your credit card is more than a passcode to payments when you swipe your card. Many of the digits have a specific meaning. Find out what a credit card number is, what it means, and why it matters. In This Piece What Is a Card Number? How to Tell the Credit Card Type by the First Four Digits Finding the Right Credit Card What Is a Card Number?
Consumer Finance
MAY 30, 2023
The Consumer Financial Protection Bureau (CFPB) has ordered installment lender OneMain Financial to pay $20 million in redress and penalties for failing to refund interest charged to 25,000 customers who cancelled purchases within a purported “full refund period,” and for deceiving borrowers about needing to purchase add-on products to receive a loan.
Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP
Did you know that 2021 was a record-breaking year for ransomware? The days of a “once in a while” attack against businesses and organizations are over. Cyberthreats have become a serious issue. With 495.1 million attacks, the threat marked a 148% increase compared to 2020 and was the most expensive year on record! As a result, data protection needs to be a concern for most banks, businesses, and information technology specialists.
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