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The United States’ overall mortgage delinquency rate was 5.9% in November 2020. And it’s not just mortgages that are going unpaid. In every sector, people are failing to make their payments on their debt. As a business, you know how detrimental unpaid bills can be. It can undercut your margins, wreak havoc on your cash flow, and cause you to consider raising prices and cutting expenses.
Many businesses had to seek short-term fixes for cash flow pressures during the pandemic. As the dust settles, now could be the perfect time to re-examine which Accounts Receivable (AR) solutions are the best long-term fit for your business. History repeats itself? The recession of 2008 placed a detrimental strain on businesses around the world. The accounts receivable departments took the brunt of the pain as companies conserved cash and payment days slowed.
LAS VEGAS — There’s a rule of thumb that is used to help people de-clutter their lives that says something along the lines of — keep track of the clothes you wear during a certain period of time, and if there are articles of clothing that you have in your closet, but don’t wear during … The post Panel Discusses Importance of Data Management appeared first on AccountsRecovery.net.
Depending on the type of customer or client, debt collections can look drastically different. Either can still be frustrating but one type of debt could actually be harmful to the overall business. Consumer-facing business, for instance, is more transactional. Businesses working together, exchanging goods or services, is likely part of a long-term relationship.
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.
Whilst the UK struggles to recover from the pandemic , its never been a better time for Businesses to use a Debt Collection Agency. Debt Collection Agencies do not just act for Businesses, there are many Debt Collection Agencies for individuals also. It is said that there was a 6% rise in Corporate debt due to the pandemic and thousands of Small Businesses in the UK have been left with a tide of unpaid invoices.
Taxes are complex, and for small-business owners, freelancers and people with side gigs, they’re even more complex — especially now, as filers reckon with the tax effects of small-business relief programs and rule changes. But those new twists and turns can create some tax-saving opportunities, according to three tax pros. Here are seven things they.
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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.
Taxes are complex, and for small-business owners, freelancers and people with side gigs, they’re even more complex — especially now, as filers reckon with the tax effects of small-business relief programs and rule changes. But those new twists and turns can create some tax-saving opportunities, according to three tax pros. Here are seven things they.
The Court of Appeals for the First Circuit has overturned a lower court’s ruling that a pair of credit reporting laws in Maine governing how certain debts are reported to credit reporting agencies are preempted by the Fair Credit Reporting Act, remanding the case back to the District Court to more accurately determine the scope … The post Appeals Court Overturns Ruling Preempting State Credit Reporting Laws in Maine appeared first on AccountsRecovery.net.
Although the best strategy to assign your accounts for collections is when they are 60-90 days past due , regardless of the time of year; however, December has several additional advantages. This is because of 2 reasons. 1. Clients who use the flat fee service can claim the cost as a business expense in taxes. 2. A large number of debtors receive tax refunds in the next few months, and they will likely prioritize that money paying off your debt, especially if a collection agency is involved.
A construction project to a screeching halt when a property owner files for bankruptcy, creating a serious risk of substantial losses for the contractor, as well as subcontractors and suppliers. This article will provide an overview of what happens when a property owner files for bankruptcy and what contractors and subcontractors can do with their construction lien rights in bankruptcy to try to protect their interests.
Spirit Airlines and Frontier Airlines this week announced a definitive merger agreement under which the companies would combine, creating what the two are calling “America’s most competitive ultra-low fare airline.” Plenty of people have taken to social media and late-night talk shows to ridicule the idea of what many consider the worst airlines in America.
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.
The Attorney General of Georgia yesterday announced a settlement with a creditor accused of engaging in deceptive sales and marketing tactics while also allegedly violating the Fair Debt Collection Practices Act that will see the company pay nearly $150,000 in fines while also agreeing to make significant changes to its business operations. Rent-A-Center — which … The post Creditor Settles with Georgia AG Over Alleged Illegal Collection Practices appeared first on AccountsRecovery.ne
Filing for chapter 13 bankruptcy can seem like a daunting task, but it’s often the right move for those who are facing foreclosure, repossession, or have exorbitant debts. If you’re thinking of filing for chapter 13 bankruptcy, you may have questions regarding how it will impact your credit score. In this blog, we discuss how chapter 13 bankruptcy affects your score, how long you can expect bankruptcy to remain on your credit report, and we share invaluable tips for building credit when you file
When account owners have an account that reflects a negative balance, the lender is faced with a myriad of options and obligations with regard to the pursuit of that debt. The first consideration that lenders (banks and credit unions alike) often face is when, and if, to conclude that the account owner does not intend to, or is not able to, clear the negative balance or loan deficiency.
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.
A group of six Democrats on the Senate Banking Committee, including Chairman Sen. Sherrod Brown [D-Ohio] and Sen. Elizabeth Warren [D-Mass.] released a letter they had sent to JPMorgan Chase seeking information on the mega-bank’s credit card collection process, citing reports indicating that the company is robo-signing documents when making the decision to sue individuals … The post Senators Open Inquiry into Chase’s Alleged Resumption of Robo-Signing Credit Card Collection Aff
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. One of the first things I noticed about my now-fiance (I’ll call him “Ezra”) was that he didn’t eat. Alana Benson writes for NerdWallet.
BRITISH business is getting back on track – with resilient entrepreneurs up and down the country showing signs of recovery after overcoming the obstacles of the Covid-19 pandemic. The past two years have seen half of small businesses suffer significant financial setbacks, with 54 per cent having to introduce new emergency revenue streams to survive the winter months after Omicron and supply chain troubles.
“[E]nsnared between his involvement in a business that is legal under the laws of Arizona but illegal under federal law,” one debtor’s chapter 13 petition was recently dismissed due to his undisputed violations of the Controlled Substances Act. In November 2020, Arizonan voters supported a ballot initiative legalizing recreational use of marijuana.
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!
A District Court judge in Pennsylvania has denied a defendant’s motion to stay a Hunstein case pending the outcome of the en banc rehearing scheduled later this month before the Eleventh Circuit Court of Appeals, ruling that regardless of how the Eleventh Circuit rules, it will not have “binding precedence” with respect to the claims … The post Pa.
Let’s be honest — there’s nothing quite as exciting as the freedom of a bachelor or bachelorette party. Whether you’re heading out for a single night or skipping town on a multiday adventure, these parties can be as thrilling as they are costly. And they’re not getting any cheaper. According to a 2021 study by wedding. Carissa Rawson writes for NerdWallet.
The government has announced a list of new measures to curb excessive car parking fines including a cap on the fees that parking debt collection agencies charge. It is said that Millions of motorists are set to benefit from a major government crackdown on rogue parking firms. This will see parking fines slashed and a clearer appeals system created. A package of new measures announced today aims to protect drivers from unfair and extortionate charges.
Insolvency can be an extremely challenging situation for an individual, both financially and emotionally. . While there are steps one can take to manage debt and recover from insolvency such as an individual voluntary arrangement or declaring bankruptcy , personal insolvency solutions such as these are a matter of public record. When declared insolvent, a person’s details are added to the Insolvency Register.
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Stefanie Jackman and a team of lawyers have left Ballard Spahr and are joining the law firm of Troutman Pepper, starting Monday, February 7. Joining Jackman in leaving Ballard Spahr for Troutman Pepper are Chris Willis, Mark Furletti, Jeremy Rosenblum, James Kim, Jason Cover, and Tony Kaye. “Our team is thrilled to join the Troutman … The post Jackman, Six Others Depart Ballard Spahr for Troutman Pepper appeared first on AccountsRecovery.net.
There are at least 23 states that offer free community college tuition to some students. “Free” doesn’t necessarily mean your education will carry no cost. Students are often expected to cover fees, room and board and transportation. In addition, free community college often comes with requirements that limit who qualifies. For example, receiving free tuition.
On July 15, 2021, the SBA issued its procedural notice regarding lender requests to the SBA for guaranty recovery of PPP loans. The PPP loan program has offered billions of dollars in assistance to small businesses across the country. However, many PPP borrowers have since begun defaulting on their loans. What should lenders do when borrowers can no longer make payments and associated loans are still outstanding?
. The United Nations International Day of Women and Girls in Science today throws a spotlight on achieving full and equal access and participation for women and girls in science, citing the importance of this goal in global development. One critical area is artificial intelligence (AI) and how it affects financial decisioning. To make fair and accurate assessments, AI software needs to be reflective of the people it scrutinises and the best way to achieve this is to have a diverse team at work
What’s holding finance teams back isn’t just process inefficiency. It’s culture gaps, reactive mindsets, and missed opportunities to lead real change. In an era of disruption, finance leaders can no longer afford to operate on autopilot and the most resilient teams aren’t just efficient—they’re connected, talent driven, and culture-focused. Join Melissa Hurrington for an exploration into how finance leaders can evolve beyond process and numbers to create adaptive, people-powered teams that thriv
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