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Debt collection is an essential process that helps businesses recover outstanding payments from their clients. The process of debt collection is made up of many key elements, one of which is the way in which you communicate. Effective communication plays a critical role in the debt collection process, as it can determine the success or. Read more » The post The Role of Communication in Debt Collection appeared first on JMA Credit Control.
When a customer pays late, it may seem like no big deal. However, if you make a habit of accepting past due invoices from customers, you’ll start to notice it in your bottom line. To keep your business healthy, you should minimize how many overdue invoices your company has open at one time. How to Collect More Past Due Invoices For organizations with a large number of past due invoices, it’s essential to clear out as many unpaid accounts as possible to create a more manageable workload.
Customer payments get delayed all the time. It may not always be worrisome right away, but not having an accounts receivables strategy can be devastating for your business. Consumers and businesses alike have ups and downs, and their financial situation can temporarily or permanently deteriorate. If you have outstanding AR from your customers, it is crucial to get paid on time before they prioritize other payments over yours.
If you are using the Automated Clearing House (ACH) method to process customers’ transactions, you are likely to see three-digit codes if a problem arises. Whenever there is an issue with a direct debit or credit card transaction, one of the parties involved in the payment processing will send a code. This code is your key to fixing or at least identifying what has blocked the transaction.
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.
If you’re in debt, you may be wondering if it’s better to hire a debt collection agency or lawyer to help you recover the money you owe. Both professionals can help you get your debts paid, but there are some key differences between them that you should consider before making a decision. Here’s a quick overview of debt collectors vs lawyers to help you choose the right person for your situation.
By Delaney: “Thank you for helping me today.” “Thank you for reaching out and for being understanding and compassionate.” “Thank you so much for hearing me out, you don’t get that often.” These are just a few of the many compliments we hear daily at American Profit Recovery. We hear these kind words because our collectors are expertly trained on the job to be equipped for real-time problem-solving.
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By Delaney: “Thank you for helping me today.” “Thank you for reaching out and for being understanding and compassionate.” “Thank you so much for hearing me out, you don’t get that often.” These are just a few of the many compliments we hear daily at American Profit Recovery. We hear these kind words because our collectors are expertly trained on the job to be equipped for real-time problem-solving.
The Federal Trade Commission on Friday announced that it had filed a lawsuit against an “interconnected” group of companies and their principals, accusing them of delivering tens of millions of “phony” debt service robocalls and ringless voicemail messages in violation of the Telemarketing Sales Rule. A copy of the complaint can be accessed by clicking … The post FTC Sues ‘Web’ of Companies Selling Phony Debt Relief Services first appeared on AccountsRecovery.net.
When you own your own business, something always demands your attention. Whether it's troubleshooting office issues like internet outages, customer service challenges, or trying to get paid, entrepreneurship is a busy vocation. To grow your business, you may need to adjust your focus from putting out fires to looking at your business differently. Adjust your perspective with this helpful advice for busy business owners.
Today, the Consumer Financial Protection Bureau (CFPB) took action against a web of corporate entities operating under TMX Finance, broadly known as TitleMax, for violating the financial rights of military families and other consumers in providing auto title loans.
Eliza Haverstock writes for NerdWallet. Email: ehaverstock@nerdwallet.com. Twitter: @elizahaverstock. The article What to Expect as Student Debt Cancellation Goes to Supreme Court originally appeared on 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.
The chair of the Federal Communications Commission yesterday proposed a rule that would require mobile service providers to automatically block text messages that are “highly likely” of being illegal. Along with extending Do-Not-Call registry protections to text messages, the proposed rule require providers to block texts from upstream providers that are known to be transmitting … The post FCC Issues Proposed Rule to Block Illegal Text Messages first appeared on AccountsRecover
Owning a car comes with costs that go beyond getting an auto loan or needing to insure your vehicle. Maintenance and repair costs can add up, and it’s essential to be prepared for those financially. In 2021, for example, individuals in the United States spent more than $194 billion on vehicle maintenance and repair. Find out about some of the most common car repairs below, including what they cost. 10 Common Car Repairs and What They Cost This list of car repairs isn’t comprehensive
Real-time payments have revolutionized how we make financial transactions, providing unparalleled speed, convenience, and security. With real-time payments, money can be transferred almost instantly from one person to another, anywhere in the world. This makes it possible for people and businesses to send and receive money at a moment’s notice, without having to wait for traditional payment methods such as bank transfers or cheques to clear.
Spencer Tierney writes for NerdWallet. Email: spencer.tierney@nerdwallet.com. Twitter: @SpencerNerd. The article How Climate Change Can Impact Your Finances originally appeared on NerdWallet.
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 Magistrate judge in Texas has recommended granting motions to dismiss filed by two creditors who were sued, along with a pair of collection agencies, for violations of the Fair Debt Collection Practices Act and the Fair Credit Reporting Act, among other claims, by an attorney who blamed the losses of separate lawsuits on poor … The post Judge Recommends Dismissing FCRA, FDCPA Claims Against Creditors first appeared on AccountsRecovery.net.
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. The average household credit card debt in America is $9,260, and the states with the largest amount of credit card debt are Alaska, Hawaii, and New Jersey.
Sally French writes for NerdWallet. Email: sfrench@nerdwallet.com. Twitter: @SAFmedia. The article The No. 1 Reason Some People Aren’t Traveling This Year originally appeared on NerdWallet.
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!
COMPLAINT ACCUSES FIRM OF PURSUING COLLECTION SUIT AFTER CLAIM OF ID THEFT Anytime a complaint starts with the sentence “… is a disabled senior citizen and monolingual Spanish-speaker who lives on a fixed income,” you can bet what follows is likely not to be good. A collection law firm is being sued for violating the … The post Daily Digest – February 24.
The recovery of vehicle repairs and associated costs as a result of an accident is one of the many arms of insurance claims recovery that Debt Recoveries Australia. These costs could include towing, salvage, assessment fees, loss of use and car rental costs. Many people are unaware that if they are at fault in a car accident, they may be entitled to make a claim against the at-fault party or their insurer for more than just the damage to their vehicle, including the cost of a temporary replaceme
Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com. The article Best Travel Insurance That Includes Cancel For Any Reason Coverage originally appeared on NerdWallet.
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.
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call … The post Complaint Accuses Firm of Pursuing Collection Suit After Claim of ID Theft first appeared on AccountsRecovery.net.
Classic Motorcycle Company Hesketh Motorcycles are facing liquidation after a winding up order was served on the company by a customer. Customer Paul Anderson, 57, first contacted Hesketh Motorcycles in May 2021 and paid a £10,000 deposit towards the last £30,000 Sonnet café racer model Hesketh were going to make. In emails seen by Motorcycle News, Hesketh Managing Director, Paul Sleeman, confirmed that a build slot for the Sonnet was available, and on May 26 further confirmed via email.
The State of Michigan, Department of Labor and Economic Opportunity (LEO) and Michigan Nonprofit Association (MNA) have teamed up to help Michigan charities whose operations were impacted by the COVID-19 pandemic. Under this initiative, called the MI Nonprofit Relief Fund, grants in amounts between $5,000 and $25,000 will be awarded to selected entities with annual revenues total under $1 million.
Rieva Lesonsky writes for NerdWallet. Email: articles@nerdwallet.com. The article How to Expand a Business: 10 Tips to Help Your Business Grow originally appeared on 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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