Moving Up: Bankruptcy Code Dollar Amounts Will Increase On April 1, 2019

In the Red

An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased about 6.2% this time for new cases filed on or after April 1, 2019. Follow this link for the Federal Register page with a chart listing all of the updated dollar amounts.

Get Back: Lawyers are Really Bad at Following Up with Leads

Jared Correia

Perhaps the most damning of a series of damning facts about law firms released within the latest Clio Legal Trends Report ( link here ), is this: 89% of lawyers surveyed believed that their law firms followup with potential clients within 24 hours; 62% of law firms actually never follow up with leads at all. I’ll let that sink in.

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How satisfied are you with your collections solution? The 9 key questions


Collections Analytics Technology Loans Portfolio Credit

Look How Far You’ve Come

Dear Debt

In personal finance, we’re always looking ahead. So often we think “I’ll be happy when I’m debt-free.” or “I’ll be happy when I have X net worth.” We can become… Related Posts: Dear Debt, You Make Me a Bitter Betty. Dear Debt, We're Getting Divorced. Financial Literacy Matters, Especially for Women. What the Worst Year of My Life Taught Me About Money. Dear Debt, I Am Enough. The post Look How Far You’ve Come appeared first on DEAR DEBT


In-House vs. Outsource - What Makes Sense for Your Collection Operation?

Credit Management Company

Successfully collecting past-due accounts is a large source of revenue for organizations. For healthcare companies in particular, collecting from patients accounts for 88% more revenue than it did in the past. Improving collections, however, can require a significant amount of effort, persistence, and resources. Companies ultimately have two choices: collect past-due accounts in house or hire an outsourcing service.

Optio Solutions Staff Reaches 20 Straight Months of Volunteerism

Joe Gargiulo

Petaluma, Calif. 26, 2019) — Staff members of Optio Solutions and affiliate, CrossCheck, have reached 20 straight months of volunteer work at the Redwood Empire Food Bank in Santa Rosa. Averaging 12 volunteers per month, the team last participated in the food bank’s weekday Warehouse Support program on Dec. The philanthropic effort was… The post Optio Solutions Staff Reaches 20 Straight Months of Volunteerism appeared first on Optio. Press Release

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Debt-Service Coverage Ratio: A Useful Financial Measurement for Assessing Future Debt Recovery


Debt-service coverage ratio (DSCR) is a vital corporate finance tool. It’s how lenders measure an organization’s available cash flow to pay off debt obligations, essentially a credit score for a business. Even governments use DSCR to determine other countries’ ability to pay for the goods it exports. For perspective, the U.S. government’s public debt hit a historic high of $22 trillion in Feb 2019 , according to the U.S. Treasury Department.

Continuous Change: 4 Lifelines

Receivables Control

Keeping up with continuous change is exhausting! If you are in the credit industry, you know that most credit professionals work in pressure-filled environments with constant requirements to accomplish more with less resources. It’s always something; whether it’s consolidating operations to a central locale or software and operating systems’ updates. Throw turnover, leadership changes, and mergers and acquisitions into the mix and you have the recipe for a fast-paced career!

Dealing with Debt Collectors

J Roquez

Debt collectors get an incredibly poor reputation, but they are invaluable to both businesses and individuals. While it may not be easy to see it this way, they provide a unique and important service. Many of those that reside in this profession may not want to even reveal to friends and family what they do for a living. They have a reputation of being harassers of everyone, but in reality, they are just doing their job and aiding businesses in getting their money back.

4 New Year’s “AResolutions” for a Growing Business

Lucy Pink

Make 2020 the year of avoiding the pains (and costs) of mishandled accounts receivable (AR). Establishing an effective AR process is a crucial part of running a successful business (and our accounts receivable software makes it easy!). It can also bring a whole raft of benefits to the table – it positively impacts marketing, sales, customer service, and overall operations. But the best part: a reduced stress load.

Amendments To The Federal Rules Of Bankruptcy Procedure Take Effect December 1, 2019

Bob Eisenbach

Each year amendments are made to the rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The amendments address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. The rule amendments are ultimately adopted by the U.S. Supreme Court and technically subject to Congressional disapproval. Only A Few Rule Amendments This Year.

Copy That: How to Manage Law Firm Data Backup

Jared Correia

It can’t happen to you until it does. I’m talking about the business disaster that could strike your law firm at any moment: flood, fire, data breach, device breakdown, smoke damage, truck carrying 30000 pounds of bananas careening out of control. Well, you get the picture. Because any law firm could be struck by disaster, every law firm should develop and maintain a disaster recovery program.

Keep your collections floor happy!


Collections Analytics Technology Loans Portfolio Credit

Dear Debt, This Won’t Last


Hello debt fighters! We have a dear debt letter from Nia Simone, a personal finance writer for the website Money Done Right. Dear Debt, You are the weight that’s constantly… Related Posts: Dear Debt, You Almost Killed Me. Dear Debt, You Make Me a Bitter Betty. Dear Debt, I Was Cheating on You. Dear Debt, I Am Enough. What the Worst Year of My Life Taught Me About Money. The post Dear Debt, This Won’t Last appeared first on DEAR DEBT


How to Spot a Scam Call

Credit Management Company

According to industry research, nearly half of all cell phone calls in 2019 will be scam calls. As more Americans become aware of this problem, they become more likely to avoid any phone interaction involving money. For some debt collectors, this can be a big problem. While collecting medical debt is not a scam, many collectors are unaware that they behave in a way that's similar to scams.

VA Disability No Longer Income for Bankruptcy Means Test

Debt Free Colorado

House Resolution 2938, the Honoring American Veterans in Extreme Need Act of 2019 or the HAVEN Act, was written to “exempt from the calculation of monthly income certain benefits paid by the Department of Veterans Affairs and the Department of Defense” Previously, VA disability was counted toward total income under the bankruptcy means test.

Auditing Third Party Collection Agencies


Auditing third party collection agencies is standard procedure among corporate clients in today’s business world. The reason for conducting audits is simple. Clients want to confirm that agencies are protecting their interest with compliant practices and efficient collection efforts that result in a favorable return on investment, brand protection, and customer retention. Auditing third party… The post Auditing Third Party Collection Agencies appeared first on Optio

How Businesses Use Corporate Debt Restructuring for Liquidity


Corporations have been increasingly defaulting on debt, with many businesses are struggling to maintain revenues and liquidity. Sometimes businesses aren’t prepared for market changes or a slump stretches longer than it should have, causing them to fall further into debt as bills pile up. Banks can seize business assets and liquidate as a last resort to cut their losses. There are only three ways for distressed companies to make ends meet when things get bad: Issue Equity.

Save Time and Attorney Costs, Increase Recoveries!

Receivables Control

Tired of wasting time and incurring high attorney costs while suing to recover debts? Perhaps you feel it’s a lost cause before you even start the process! Maybe you have spent so much time with all the back and forth that you wonder if you became your attorney’s assistant. If you feel this way, it’s time for a different approach. By trusting an experienced partner you’ll find a pathway to success that saves you time, frustration, and attorney costs!

How to Recover Your Delinquent Accounts

Burt and Associates

Everyone, at some point in their life, has had money problems. But how you handle them affects your business’ cash flow. If you let your customer’s account go unpaid for long periods, the less of a chance there is to collect your money. There are different signs a company will need to look for when analyzing customer accounts. The signs include late payments, bounced checks, excuses, avoidance, and non-payments.

Passion for Sports Underpins Successful Accounting Firm

Lucy Pink

Sports Accounting Australia (SAA) is all about sports. They’ve been assisting national and state sporting bodies across Australia with their finance and business planning for over a decade. Already a huge proponent of Xero and other cloud-based accounting solutions, being a paperless firm has allowed SAA to leverage their employees to a level that allows them to support their clients’ goals effectively and efficiently.

In A Major Victory For Trademark Licensees, Supreme Court Holds That Rejection Of A Trademark License Does Not Terminate The Licensee’s Rights

In the Red

A Big Answer To A Big Question. After dividing the courts for a number of years, we finally have the answer to the big question of whether rejection of a trademark license by a debtor-licensor deprives the licensee of the right to use the trademark. Here’s the question on which the Supreme Court granted certiorari in the Mission Product Holdings, Inc.

Debtor 100

Difference Maker: Utilization Rate Separates Growing Law Firms from Shrinking Ones

Jared Correia

The 2019 Clio Legal Trends Report (download link here ) , which is a longitudinal study of law firm data across a variety of categories, including internal efficiencies and external relationships with clients. It’s a fascinating read every year; and, that includes 2019.

Katabat 9.0 Delivers Enhanced Security and Payment Capabilities Latest release includes improved click-to-call performance, integrations to REPAY and BillingTree for payment processing


WILMINGTON, Del., 16, 2019 — Katabat, a leading global supplier of debt management software solutions, has delivered a significant release of its software, Katabat 9.0, which offers enhanced security, additional payment platform integrations, and improved client communication capabilities. “We We always focus on improving our clients’ experience with each major release of our debt collections software,” said Katabat CEO Ray Peloso. The latest capabilities in Katabat 9.0

Dear Debt, The Fun is Over

Dear Debt

Hey debt fighters! We have another dear debt letter from Erin! Erin Salazar is a member of the Money Makers Academy and has been working diligently to organize and pay… Related Posts: Blog. Dear Debt, I Will Never Be Yours Again. Dear Debt, You Almost Killed Me. Dear Debt, I Am Enough. Dear Debt, Goodbye Old Friend. The post Dear Debt, The Fun is Over appeared first on DEAR DEBT


How a Debt Collection Agency Can Help Your Cash Flow

Credit Management Company

Insufficient cash flow is a financial problem that all companies experience at one time or another. Everything from waste and inefficiency to poor sales and conversions can cause this problem, but the failure of clients or customers to pay what they owe is a unique issue with a clear and effective solution: professional debt collection.

Supreme Court Rejects Discovery Rule in FDCPA Cases

Brit J. Suttell

The United States Supreme Court has affirmed the Third Circuit Court of Appeals’ decision in Rotkiske v. Klemm , holding that Section 1692k(d) of the FDCPA “unambiguously sets the date of the violation as the event that starts the one-year limitations period.” The decision overrules cases from multiple circuits that have allowed application of the “discovery rule” in FDCPA cases.

U.S. Supreme Court Rules Statute of Limitations for FDCPA Claim Runs One Year from Alleged Violation, Not Discovery

Blank Rome LLP

Wayne Streibich , Diana M. Eng , Jonathan M. Robbin, Scott E. Wortman , and William L. Purtell. The Supreme Court of the United States (“Supreme Court”) recently affirmed the Third Circuit’s decision holding Fair Debt Collection Practices Act (“FDCPA”) claims are subject to a one-year statute of limitations from the date of an alleged violation and rejecting the Fourth and Ninth Circuit’s adoption of a broad “discovery rule.”

What to do When You’re Served Papers for a Debt


businesses have a mounting debt. Forbes estimates large companies with nonfinancial corporate debt account for 48% of the country’s GDP at $10 trillion. Small- to medium-sized businesses account for another $5.5 trillion, bringing the total to 74% of the U.S. Adding to the problem is a weak economy heading into 2020. This leaves businesses struggling to maintain revenue while debt continues to pile up. There are 35 major bankruptcies in 2019 so far, and over two-thirds happened in retail.

Bankruptcy for Married Couples

Matthew Alden

When there is consistently more month than money and your financial situation continues to deteriorate due to job loss, medical bills, or consumer debt, it may be time to consider your legal alternatives. Among the options available is bankruptcy for married couples. Besides determining if you qualify for filing Chapter 7, where your debts are discharged, or qualify for filing Chapter 13, in which you have a repayment plan, you Read More.

Tax Debt Collection and You

Burt and Associates

In the past, the Internal Revenue Service (IRS) has failed to turn their debts over to private debt collectors successfully. In 2017, the Fair Debt Collection Practices Act was passed, trying yet again. There have been many complaints from taxpayers about how those private companies go about collecting debts. Pioneer Credit Company is one of the main agencies that has many complaints against it.