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The CFPB’s Concerns with Medical Debt Credit Cards

RevCycle

In fact, medical debt is the leading cause of personal bankruptcy in the country. In a 2022 report, the CFPB found that these cards can lead to higher costs for patients, as well as increased risk of debt collection and bankruptcy. The cost of healthcare in the United States is a major financial burden for many people.

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Late Payments: Reasons and Remedies

Your Virtual Credit Manager

Cash flow problems: The primary reason businesses declare bankruptcy is liquidity issues, so it should come at no surprise that cash flow problems are a top reason for a business paying late. Not a subscriber — please take advantage of a free subscription to YVCM. Subscribe now Ten Primary Causes of Customer Late Payments 1.

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The Imperative for Prioritizing Collections

Your Virtual Credit Manager

(Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter 11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.” Trustee Program.

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Seven Observations from Silicon Valley Bank's Failure

Your Virtual Credit Manager

After all, as of December 31, 2022, this was a bank with $291 billion in assets. Bad things happen when you don’t manage risk For the better part of 2022, SVB was without a chief risk officer (CRO). This ties into all the Covid startups and the lack of bankruptcies while stimulus funds were available. Given time, the $1.8

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Red Flags Revealed by Your Customers' Financial Statements

Your Virtual Credit Manager

Commercial bankruptcies have been surging since mid-2022. Department of Justice expects a sharp increase in bankruptcies with the U.S. As it turned out, half of this group had indeed filed for bankruptcy during this period. High-interest rates are the underlying culprit, squeezing many of these firm’s options.

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A look back at 2024: 5 trends in credit management from the past year

Onguard

Indeed, one in four bankruptcies occur due to late payments of invoices, according to EU data. For example, the surge in popularity of ChatGPT in late 2022 has put AI in the spotlight for its potential to streamline work processes in every business, including the finance sector.

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2022 Litigation Wrap

Reorg Blog

The post 2022 Litigation Wrap appeared first on Reorg.