July, 2020

article thumbnail

RIP Medical Debt Gets Thumbs Up From HHS OIG To Buy Directly From Providers

Account Recovery

Hospitals and healthcare organizations have been given permission by the Department of Health & Human Services’s Office of Inspector General to sell their debts directly to RIP Medical Debt without having to go through a third-party, according to an advisory opinion released last week. The OIG’s advisory opinion was released following a petition from RIP … The post RIP Medical Debt Gets Thumbs Up From HHS OIG To Buy Directly From Providers appeared first on AccountsRecovery

article thumbnail

How to Win Back Clients After COVID-19

Enterprise Recovery

Businesses and organizations are pushing through the effects of the pandemic on the economy, their industry or their customer response. At the time of writing this, there is no such thing as "after COVID-19" however experts are learning more each day. While everyone is searching for the next normal, it's important to consider how the virus has affected your client relationships and customer service.

197
197
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Debt Collections Good For the Economy

American Profit Recovery

There are many activities that help boost our economy. A healthy jobs market, business spending, banks lending money as well as consumer spending. But did you know that debt collections were also a big part of a healthy economy? For the consumer that may be in debt or having issues trying to catch up on financial obligations, they might not think so.

article thumbnail

6 Ways to Enhance your Customer Invoicing Experience

Nexa Collect

Invoicing is a critical part of the business cycle, but it’s oftentimes the most difficult. Customers expect to be billed for services rendered, of course, but that doesn’t mean they’re excited to receive them. Paying bills is almost universally considered a negative experience, and this is an association that’s hard to escape. As a result, there’s considerable value in working to make your invoices as painless as possible for your customers.

article thumbnail

From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

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.

article thumbnail

Details on the HEROES Act

Debt

When the House of Representative passed the $3-trillion HEROES Act on May 15, it all but guaranteed that a second stimulus check would arrive for Americans in need of financial help for COVID-19. How much that guarantee is worth and when it will be delivered is up to the U.S. Senate, which is debating the many […]. The post Details on the HEROES Act appeared first on Debt.org.

145
145

More Trending

article thumbnail

Consumer Groups Appeal FCC’s TCPA Ruling on P2P Texts

Account Recovery

A number of consumer advocacy groups have asked the Federal Communications Commission to re-think a Declaratory Ruling related to interpreting how peer-to-peer messages are defined under the Telephone Consumer Protection Act. Last month, the FCC ruled that a calling platform does not meet the definition of autodialer under the TCPA — whether it is used … The post Consumer Groups Appeal FCC’s TCPA Ruling on P2P Texts appeared first on AccountsRecovery.net.

240
240
article thumbnail

Time Management Techniques for Entrepreneurs and Remote Workers

Enterprise Recovery

We're all months into this pandemic and doing our best to work outside the office. Whether you're working on your own business at home or working for someone else, time management can be a challenge amidst distractions like children and chores. The "new normal" is to accomplish everything that you did before even. while. you. keep. getting. interrupted.

173
173
article thumbnail

A personal approach during these times

American Profit Recovery

By Derek: Approximately four months ago, our company made the decision to close the office due to Covid-19, and provide all the employees with computers so they could continue to work from home. It was a drastic change at the time. Everyone was uncertain of what the future held for us, as well as what issues may arise from the switch to working from home.

article thumbnail

Collection Tactics to Recover Unpaid Credit Card Debt

Nexa Collect

Credit card delinquency rates have been climbing since 2016. Average monthly balances have been trending up as well. And these figures are likely to worsen as the results of the pandemic mushroom out into the industry. The number of delinquent accounts will rise sharply, forcing companies into a defensive debt recovery position. If you find yourself in this position already, here are some tactics you can use to begin whittling these balances down.

article thumbnail

When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

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.

article thumbnail

What Debts Will Remain After A Chapter 13 Discharge?

Sawin & Shea

Chapter 13 bankruptcy can wipe out most kinds of debts and leave you with a much brighter financial picture. But Chapter 13 can’t discharge all types of debt you’ve taken on. Some debts will remain after your bankruptcy, although you’ll be in a much better position to handle them. Here’s a closer look at how it works. Which Debts Can Be Discharged By Chapter 13 Bankruptcy?

article thumbnail

Where U.S. Citizens Can Travel Right Now

Nerd Wallet

The coronavirus pandemic is far from over, and with the United States being one of the hardest hit countries, U.S. citizens are finding themselves blocked from entering many countries during the peak of summer. Europe, which is a favorite vacation destination for many, has basically closed its borders to U.S. citizens. If you’re hoping to. Elina Geller is a writer at NerdWallet.

119
119
article thumbnail

Spire Recovery Solutions Earns SOC 1 Type 1 Certification

Account Recovery

Spire Recovery Solutions, a professional, nationally licensed full-service debt collection agency, announces the successful completion of the extensive Service Organization Control (SOC) 1 Type 1 audit from the American Institute of Certified Public Accountants. “Our team is very excited to share the news of our SOC 1 certification,” says Spire Recovery Solutions’ Chief Compliance Officer … The post Spire Recovery Solutions Earns SOC 1 Type 1 Certification appeared first on AccountsRecover

article thumbnail

Can a Business Be Sent to Collections?

Enterprise Recovery

Owning a small or medium business can be especially frustrating when your clients are paying late or not at all. It's good to note that how you respond to these situations will affect the success of the debt collections and if you can retain the client as a customer. In this post, we will offer tips to ensuring your invoices are paid on time and we will share how and when you should send a business to collections.

article thumbnail

10 Ways to Improve Payment Collections with Salesforce

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.

article thumbnail

Some of the nicest people I’ve ever met

American Profit Recovery

By Austin: I was hired at American Profit Recovery in October of 2019. Before this job I have never worked in an office setting. I was either doing manual labor or just on my feet all day. When I first interviewed with Greg I honestly didn’t believe he could be a debt collector because he was too nice. Growing up, I experienced collectors calling my relatives regarding their past due debts, and (based on the stress they displayed) I developed this thought in my head that debt collectors are in

article thumbnail

Second Round of Stimulus Checks

Debt

There are controversial aspects to the $1 trillion HEALS Act (Health, Economic Assistance, Liability protection, Schools), which was unveiled by Senate Republicans as part of the newest coronavirus relief economic package. And now the real debate begins with heated discussion, compromise and the ultimate arrival of a bill that can be signed into law.

116
116
article thumbnail

How Can I Eliminate Tax Debts In Bankruptcy?

Sawin & Shea

One of the things that people hear about bankruptcy is that it usually doesn’t discharge some debts owed to the government, like taxes. Even if you have a large burden of tax debt that is making it extremely difficult to reconcile your finances, bankruptcy can’t always help. However, here is some good news: You actually can eliminate and/or get some immediate relief from some tax debts in bankruptcy under certain circumstances.

article thumbnail

Pell Grants: Dwindling Power to Help At-Need Students

Nerd Wallet

Tuition bills are coming due, and while millions of students across the country are weighing the risks of going back to college in the middle of a pandemic, the most financially strapped students carry an added burden of dwindling aid. For Americans living in the lowest income brackets, college represents a way up the socioeconomic. Elizabeth Renter is a writer at NerdWallet.

article thumbnail

Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

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?

article thumbnail

Three AGs File Suit Against OCC to Block ‘Valid When Made’ Rule

Account Recovery

The Attorneys General of California, New York, and Illinois yesterday filed a lawsuit against the Office of the Comptroller of the Currency, seeking to block the implementation of a new rule that ensures the terms of a loan remain valid after the loan has been sold to a non-bank entity, a key component when buying … The post Three AGs File Suit Against OCC to Block ‘Valid When Made’ Rule appeared first on AccountsRecovery.net.

Loans 221
article thumbnail

Working From Home Means Automating Accounts Receivable

Enterprise Recovery

While many businesses are trying to return to a new normal after the impacts of the COVID-19 pandemic, some have opted to move to remote work for the rest of 2020. For paper-based A/R departments, this move has been especially challenging. Sending invoices and receiving checks are necessary components to maintaining working capital and cash flow but what happens when the employees responsible are no longer in the office?

139
139
article thumbnail

Our Debt Collectors Get Compliments From Consumers

American Profit Recovery

“You were very nice…You’re definitely nice to work with. You definitely made the experience that much better. Thank you.”. “Thank you very very much, you’ve been a huge help.”. “You don’t sound like a debt collector, you are too nice”. You read the title of this article correctly. Our collectors get complimented by the consumers they are calling on each and every day.

article thumbnail

3 Steps Young Families Can Take to Build a Financially Secure Future

Credit Corp

Young families looking to achieve financial stability should consider several foundational steps… Click To Tweet. Young families looking to achieve financial stability should consider several foundational steps early on. These steps include making a plan to repay personal debts, saving up for a down payment on a house, and planning for the unexpected.

article thumbnail

Successful Change Management with Enterprise Risk Management

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.

article thumbnail

Consolidating Your Debt? Here’s What NOT to Do

Debt Guru

Every month, you face a mound of credit card and bank statements (or your inbox fills up with them, and you have to write a separate check (or perform an individual internet transfer) for each of them. All the while, you feel like you’re no closer to zeroing out your balance on any of those debts. To get out of this frustrating and time-consuming loop, many people opt for consolidation to combine multiple debts into one.

article thumbnail

When Will a Second Stimulus Check be Delivered?

Debt

As warring congressional leaders play chicken with the nation’s fifth round of coronavirus-related relief, the only apparent certainty is a fresh round of stimulus checks will, eventually, find their way into America’s bank accounts. In a perfect world, the (Republican) Senate and (Democratic) House of Representatives would realize the economic urgency of the moment and work […].

Banks 104
article thumbnail

Senate Unveils Overview of Latest Stimulus Bill, Garnishment Exemption to be Included

Account Recovery

Senate Republicans yesterday introduced their latest pandemic relief bill, the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act, which includes another round of stimulus checks for individuals and more loans for small businesses, but whether any proposed moratoriums on debt collection activities is to be included will have to wait until the official text … The post Senate Unveils Overview of Latest Stimulus Bill, Garnishment Exemption to be Included appeared first

article thumbnail

How to Hire an Amazing Collections Specialist

Enterprise Recovery

First party collections , in which your business relies to manage delinquent and non-paying accounts, are a valuable resource to get invoices paid. Getting your invoices paid on time helps ensure working capital and sets your business up for success. In house collections specialists, therefore, are beneficial and necessary, especially in a growing business.

article thumbnail

How Preparation and Strategy Can Be Used to Fight and Defeat Any Ransomware Attack

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.