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We are going to make a bold assumption. That you have customers that have not paid you yet. They are either late in paying you, or they have not paid you at all. Whether it was an oversight, a dispute in your product or service, or maybe that customer has just struggled financially and they have decided not to pay your business. There are so many reasons why a customer or client has not paid you yet and it’s a tough situation to be in when you’re trying to improve your cash flow.
The joint and several clause appears in almost every legal loan document. Many people sign loan documents and guarantees after a quick glance because they want to make a deal. The issue with signing without reading the underlying documents is that if and when someone seeks to enforce the agreement as set forth in the document, you are charged with having read it and agreeing to the terms contained therein.
Key Takeaways. Credit card debt features low monthly payments, but double-digit interest which compounds daily, causing balances to grow fast and making it hard to eliminate the debt. Mortgage payments offer low-interest rates, but higher monthly payments on larger balances over a long period of time. Paying off credit cards will save you money on daily compounding interest payments.
The Federal Communications Commission has issued a Notice of Proposed Rulemaking that seeks to possibly amend the exemptions that have been granted under the Telephone Consumer Protection Act allowing some entities to make calls using automated telephone dialing systems or artificial or pre-recorded voices, which could possibly include debt collection calls.
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.
Does your business suffer from late paying customers? Are you a flying-by-the-seat-of-your-pants A/R department of one? Do your clients get away with paying your business late or not at all without any consequences? If you answered 'yes' to any of these questions, an accounts receivable collections policy can help you: Get paid on time. Organize your accounts receivable process so you can handle the job alone.
There are not many factors that control the cash flow of a business more than customers and the time frame in which they pay for products or services. In short, customers pay late, cash flow suffers. Customers pay on time, resulting in positive cashflow. When it comes to accounts receivables, it’s that simple. However, we are not living in an ideal world and for many in business, chasing down payments is just part of running a business.
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There are not many factors that control the cash flow of a business more than customers and the time frame in which they pay for products or services. In short, customers pay late, cash flow suffers. Customers pay on time, resulting in positive cashflow. When it comes to accounts receivables, it’s that simple. However, we are not living in an ideal world and for many in business, chasing down payments is just part of running a business.
For snow removal companies overdue accounts receivable is an ongoing issue. Their customers can be a small business, government, large corporates as well as private homeowners. Customer excuses may range from underbudgeting the cost snow removal work, to temporary economic problems. Not getting paid on time can quickly restrict your cash flow, that’s why hiring a collection agency when an account is 60 days past due is absolutely the right choice.
After a Magistrate Court judge recommended that the defendants in a Fair Debt Collection Practices Act case file a motion for sanctions, a District Court judge in New York has denied the motion, ruling that the “reckless and overzealous advocacy” of the plaintiffs does not rise to the threshold of constituting “bad faith.” A copy … The post Judge Overrules Sanctions Recommendation in FDCPA Case appeared first on AccountsRecovery.net.
If you’re serious about your credit score, you need to pay your bills on time. One late payment can have a devastating effect on your credit score. Here’s what you need to know about late payments and your credit score, and what you can do to protect yourself. How Late Payments Affect Credit Scores. Your payment history is the biggest factor in determining your credit score, so it’s imperative that you pay your bills on time whenever possible.
Erin Nelsen’s house could use more walls. The certified financial planner works outside the home from an office in Cypress, California. But her husband, Shawn, works from a makeshift home office in their kitchen. From there, he hears his kids attending online school through an opening to the adjacent dining room. To accommodate his new. Annie Millerbernd is a writer at NerdWallet.
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.
Theodore Roosevelt once said: “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing”. Making decisions is essential in everyday life and the business world, and we can learn from those who have done it better. Good strategic thinkers tend to be not only good analysts but to be able to maintain a critical and fair attitude about their goals and the elements or factors needed to achieve them.
GETTING TO KNOW KATIE ZUGSAY OF FINEXUS INSURANCE AGENCY Kudos to Katie Zugsay not just for having the ambition and fortitude to strike out on her own, but to do so during a global pandemic. Zugsay recently launched Finexus Insurance Agency, merging her experience in insurance and collections to now help agencies across the country. … The post Daily Digest – October 1.
Are you ready to buy a home? You’re not alone—in 2019, more than five million people bought an existing home. And that doesn’t even include the number of people who purchased new construction. The point is, the housing market is always bustling and busy. And if it’s your first time buying a home, it might seem a bit daunting. You might have a couple of questions—how much money do you need to buy a home?
Wyndham Hotels & Resorts launched a new set of credit cards that could appeal to road trippers, largely thanks to one standout spending category: Gas. Wyndham’s two new credit cards for consumers, issued by Barclays include: Wyndham Rewards® Earner? Credit Card ($0 annual fee). Wyndham Rewards Earner Plus Credit Card ($75 annual fee). Both cards.
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.
Hey, Adam Stewart here. I know debt collection can be an uncomfortable process, even for large businesses. These tips are designed to help you understand the options you have for debt collection, before you go down the legal path. It all starts with your account handling processes. Whether you are following up accounts, accurate and detailed records will help you quickly identify and deal with delinquent accounts.
A new rule in New York City requiring collection agencies let individuals know if they offer translation or services in languages other than English that went into effect in June will start being enforced today by the city’s Department of Consumer and Worker Protection. Collection agencies that collect from individuals living in New York City … The post NYC DCWP Releases Debt Glossary As Enforcement of New Rule Starts Today appeared first on AccountsRecovery.net.
Multiple consumer advocacy groups are demanding the Consumer Financial Protection Bureau (“CFPB”) rescind its April 1, 2020, credit reporting guidance regarding the investigation of error disputes vowed at the beginning of the coronavirus pandemic. In April, the CFPB said it would not hold companies to strict deadlines for investigating disputes that consumers have about information on their credit reports.
The hardest part about building a credit history is getting access to credit in the first place. If becoming an authorized user on someone else’s credit card is not an option for you or you cannot afford the deposit on a secured card, Kikoff offers a cheap and simple way to build credit. The San. Amrita Jayakumar is a writer at NerdWallet. Email: ajayakumar@nerdwallet.com.
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!
In accounts receivable, it's important to stay informed about upcoming legislation and other changes that will impact business (especially during major disruption, like the events happening this year). Lauren Valenzuela has been watching the trends and staying up-to-date with the latest in AR compliance as part of her job as Corporate Counsel, Performant Financial Corp.
The Attorney General of Indiana yesterday announced he had filed a lawsuit against a collection agency, accusing it of engaging in deceptive and abusive collection practices and operating without a proper license. The lawsuit, filed against New Britain Financial and its founder, Nelson Macwan, was announced as part of Operation Corrupt Collector, a joint state … The post Indiana AG Files Suit Against Scammer appeared first on AccountsRecovery.net.
On September 18, 2020, Florida Governor Ron DeSantis signed House Bill 101, an act relating to public construction , into law. This new law amends Section 218.735, Florida Statutes (the “Local Government Prompt Payment Act”) and Section 255.078, Florida Statutes (the “Florida Prompt Payment Act”), by reducing the maximum retainage rate on a government construction projects in Florida from 10% for the first half of a project, and 5% for the remainder, to a flat 5% throughout the life of the proje
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion of NerdWallet’s new credit and debt survey, which shows people have complicated feelings about their plastic. Then we pivot to this week’s question from Amy in Pennsylvania. She writes, “I’m seeing a lot of offers for.
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.
I was privileged to join Bruce Curry on a series of two digital roundtables recently, where 13 experienced minds of the industry got together to discuss the current and future situation around collections and recoveries during the current debt tsunami. The attendees had a combined experience of over 300 years across analytics, credit risk and operations across Europe, UK, the Middle East and Southern Africa.
FTC ANNOUNCES NEW CRACKDOWN ON ABUSIVE COLLECTION PRACTICES The Federal Trade Commission yesterday announced the launch of Operation Corrupt Collector, a “crackdown” on collection operations that engage in abusive or harassing practices while also attempting to collect on debts that do not exist. STATE AGS FILE SUITS AGAINST ALLEGED SCAMMERS The Attorney General of Indiana … The post Daily Digest – September 30.
Because 35% of your credit score relates to paying your debts in a timely manner, becoming so late on payments that the account is charged off can have a significant negative impact on your score. It also looks bad to future creditors because it indicates you might not pay all your bills. Find out more about charge offs and how they affect your credit score.
Have you tried working from home but not had great success? Interruptions from family, friends and even pets can squash productivity and creativity. If you work remotely, hotels in your area may have the perfect solution — as well as plenty of loyalty points — waiting for you. Whether you want to spend the day. Ramsey Qubein is a writer at NerdWallet.
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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